Should I stay or should I go....

jinxandrosie

Was with Green but could see they were vunerable (rightly so it seems!). I decided to switch to a fixed deal and went to Sainsbury's 1 year fix V20 which is 22.9p per unit and 35.94p standing charge. Got registered and told switch would happen on 8th October. Two days later Green go bust and Shell was appointed. I've had them email me the standard "welcome to shell etc". Now am I better to plough on with a 12 month fix with Sainsbury's given the possible price hikes to come or take what Shell will offer me on a variable, probably at the Ofgem cap. I'm in the south west.  Thoughts please......

Verdigris

The Shell deal is much cheaper and is fixed until April. I think I'd take the Shell deal, if possible. There is the bonus of a Shell discount card.

Flight3287462

Pity you hadn't fixed for the two years.  I wouldn't do anything just now until your switch is complete.  The number of accounts moving around at the moment must be huge and my worry is the system falls apart.  There is no early termination fee with Sainsbury's so no real rush.  Let things calm down.

I think the cap will be slightly cheaper at the moment but it is going top go up again in April (probably quite significantly again) so will probably balance out.

There is also a chance your switch might not go through.

You pays your money and takes a chance.

jinxandrosie

Thanks for the reply. I guess I was thinking of the bit between April and the fixed rate end where the Ofgen cap would be even higher and no sensible fixed rate deals similar to the Sainsbury's one would be available.

[Deleted User]

Have a read. One opinion is as good as another:

https://www.theenergyshop.com/articles/should-you-fix-your-energy-prices

Verdigris

April prices will depend, partly, on how hard a winter we have, I suspect. If it is mild there is a chance there may be some less expensive fixes if hedged energy hasn't been used up.

I predict nothing will be anything like as cheap as the prices we've enjoyed in the past few years.