Variable Tariff

MoominMama47

Hi

I'm currently on a variable tariff with a price guarantee until 26th Sept 21.  I'm not sure what to do, whether to stay on it or switch to a fixed one.  The fixed tariff the company i'm with is basically coming out as £900+ more over 12 months, so obviously I wouldn't pick that! 

Would the price on my current tariff be capped?

Thanks

dbks

MoominMama47 said:

Hi

I'm currently on a variable tariff with a price guarantee until 26th Sept 21.  I'm not sure what to do, whether to stay on it or switch to a fixed one.  The fixed tariff the company i'm with is basically coming out as £900+ more over 12 months, so obviously I wouldn't pick that! 

Would the price on my current tariff be capped?

Thanks

If you let us know your supplier and which particular tariff of theirs you are currently on, then someone may be able to help you more.

But the Ofgem price cap only applies to the supplier's default tariff.

You could be put on a default tariff if your fixed-term tariff ends and you don't shop around for a new one. Or, you could have moved and not agreed a new tariff for your new home.
The most common type of default tariff is ‘standard variable’ which you can often apply for. This means prices go up and down with the market. They don’t generally have an end date and won’t have a fixed-term on the contract terms and conditions, such as for your gas or electricity unit prices.

JJ_Egan

£900 plus reads as wrong information input .

speedfreek1000

There are no cheaper fixed than current SVR (what you are on now) deals out there atm!

Basically those who fix now will be paying for the people who fixed earlier in the year. 

Even the SVR rate isn't covering current energy prices as it's capped (Cap lasts for 6 months).

The next SVR rate is capped  from Oct 1st until 31st of March so it might be an idea to ride out the winter madness where you are then look for a new deal or fix when things calm down in the New Year?

Also check out if your supplier has plans on raising your prices up to the current max cap level on Oct 1? Most are but it'll still be cheaper than a fixed deal! At least then you can try and budget for it?

MoominMama47

I'm currently on Pure Planet's 100% Green variable tariff, which has a price review every two months (mine is due 26/09) I've had a look and the only other tariff they have available is the 100% green 12m fixed tariff, but the cost of that is a joke!  My current estimated cost is £1397 on the other tariff its £2443!

Verdigris

The variable can't exceed the cap, as I understand it, so that may not be a bad deal until the cap is reset again in April.