To fix or not to fix

RedImp_2

I'm with Shell Energy and current deal is coming to an end.  As you would expect they are sending me a messages advising me of this and giving the options to fix again but it seems that the costs from their cheapest fix is pretty much the same as their variable rates.  So on the one hand I'm thinking why would I commit and create exit penalties for no savings.  Looking at the options from MSE comparisons, there's hardly any difference from any (I'm avoiding some of the small players, just my preference) so I'm minded to let it go onto variable rate and then leaves my options open to fix still while I look around.

Just wondering what others wold do, am I opening myself up for future price rises that I could avoid by fixing now, or is it a gamble others would take.

In any case I'm going to see a price rise from what I'm paying now !

QrizB

OFGEM is expected to raise the price cap from October, and so the general consensus on the forum (which may or may not be correct) is that variable rates will rise at the same time.

Fixing now will avoid the effects of that future price rise, if it happens.

No-one here is expecting rates to fall before spring 2022 (or later).

[Deleted User]

This might give you a strong steer:

https://www.ofgem.gov.uk/news-and-views/blog/energy-bills-are-rising-and-what-you-can-do-about-it

JJ_Egan

Same question March 2021   reply was prices going up  did they  ?? .( i fixed for two years )