Energy swap

LippyDoodle

Hi everyone

I swapped my energy company in May to what was a good deal. I hadn't heard about the increases coming in October. I've looked at the prices now and they are already up quite a lot. I'm now wondering if I should bite the bullet and come out of my new deal as there is no exit fee, to secure a 2 year fix before October when the prices will shoot up again. If I did I'd be adding just under £200 to my bill which is a lot, but is it compared to what I'd have to pay later? Any thoughts would be greatful. 

Thank you 

greenguppie

LippyDoodle said:

Hi everyone

I swapped my energy company in May to what was a good deal. I hadn't heard about the increases coming in October. I've looked at the prices now and they are already up quite a lot. I'm now wondering if I should bite the bullet and come out of my new deal as there is no exit fee, to secure a 2 year fix before October when the prices will shoot up again. If I did I'd be adding just under £200 to my bill which is a lot, but is it compared to what I'd have to pay later? Any thoughts would be greatful. 

Thank you 

I thought you said you had "recently swapped" to Avro?
https://forums.moneysavingexpert.com/discussion/comment/78590761/#Comment_78590761

If so, your prices will not be going up in October, as Avro only offer a 12M fixed tariff (to new customers)

[Deleted User]

If your contract ends next May, then it is a ‘no brainer’ to stay with your present supplier. Gas prices are forecast to fallback from next Spring onwards. It is the wholesale price of gas that is causing the price hike for both gas and electricity.

LippyDoodle

Yes I did in May. Yes it's fixed for 12months but I'm worried what the increase will by at the end of my contract. I looked at prices when I heard about the increase expected come October.

Thanks for replying. 

LippyDoodle

Hi Dolor, 

Are they? That's good to hear and makes for an easy decision then! Thanks

[Deleted User]

LippyDoodle said:

Hi Dolor, 

Are they? That's good to hear and makes for an easy decision then! Thanks

Don’t quote me on the price drop. There are press rumours that the Government will use any fall in the wholesale price of gas to add green taxes. The Government is trying to narrow the price gap between gas and electricity to make heat pumps a more attractive option.

LippyDoodle

Dolor,

That's ok and thanks for making me fully aware. I think I will still stay for now and keep everything crossed!