Is it worth changing my Energy Tariff even though my Tariff ends at the end of February 2021?

ayers

Hello,

I was hoping to get some advice on whether it's worth changing my Energy Tariff now bearing in mind the Energy cap rises this coming October. My current tariff ends at the end of February 2022. I have looked at the tariffs with current provider, which are fixed until 31st of August 2023, but they are all approximately £25.00 higher per month compared to my current tarrif. 

Is it still worth signing up for one of these new tarrifs now or is it best to wait until my current tariff is close to expiring?

Kind regards and thanks in advance.

QrizB

I know nothing about you or your energy use, but it is likely that you will use far more energy during the winter months of Dec/Jan/Feb than you will after that date.

In your position, I would stick with your current fix until it expires.

ayers

Thank you!

spot1034

It's impossible to predict where energy prices might be in the early months of next year. If we have a mild winter in the northern hemisphere with demand less than anticipated, they could well be lower than they are right now.

I'm in the same position as regards renewals, having been forced to review my situation last winter following the demise of Yorkshire Energy in December. Had they survived, my contract with them would be expiring at the end of this month, and I can only say that despite a couple of months on a more expensive tariff with a SOLR (though it doesn't look so expensive now!) this has actually worked in my favour in that I will be enjoying lower prices for much of the coming winter than would otherwise have been the case. Although even that isn't certain as suppliers can go bust. If you're on a good deal right now, I'd stick with it.

ayers

That's good advice. Glad I posted this as I was planning on changing my tarrif tomorrow.

dogshome

STAY WHERE YOU ARE

Energy prices, particularly Electricity have rocketed since last Spring, where they will be in February 2022 is anybodies guess, but at least you are sure of your costs over most of the coming Winter

pearl123

I was going to ask the same question. In my case it would work out around £3.50 more expensive per month. Swapping is a little more tempting.