Gas/Electric tariff

jackiestew

Hi All, 

I need your advice on what I should do?

My energy tariff deal is due next month. I have been on several sites and there has been a increase of £500 on the 2 years fixed tariffs compared to what I am paying now. 

With all the issues with the energy companies bust should I wait a few months for a better deal? Or should I sign up for a new deal now? 

Thanks 

QrizB

Energy (gas and electricity) has become a lot more expensive over the past 12 months. All options on the market today are likely to be significantly more expensive than your previous deal.

You can stick with your curent supplier on their variable tariff, or you can take a fixed deal. The fixed deal is likely to be more expensive than the variable tariff, at least for the next six months.

jackiestew

Shell energy has offered me 2 years fixed for £1650.00. 

I wonder if it will get any cheaper next year?

wittynamegoeshere

You need to compare the prices for units and daily charges.  Alternatively, you could compare your actual personal usage under the tariff vs the standard variable tariff that you would be on otherwise.

The variable tariffs are all effectively fixed until April 2022 anyway, as that is when the government cap will next be reviewed.  Nobody knows whether costs are going to go up or down at that point.

Also check the exit fees - if prices do drop then you need to be able to switch asap.

deejaybee

I fixed with EDF early this year ( previous fix from them was coming to an end ).  I dont remember rising energy prices being a thing then ??  So i just went with an " Easy Online 2 year fix to Jan 23 "

Elec is 17.74 pence per KWH,  and Gas is 3.086 pence per KWH.

Standing Charge - 24.59 pence per day ( Elec )  26.08 pence per day ( Gas ).

Are these prices decent in todays climate ?  Did i get lucky ( for a change ) ?

Speculator

deejaybee said:

I fixed with EDF early this year ( previous fix from them was coming to an end ).  I dont remember rising energy prices being a thing then ??  So i just went with an " Easy Online 2 year fix to Jan 23 "

Elec is 17.74 pence per KWH,  and Gas is 3.086 pence per KWH.

Standing Charge - 24.59 pence per day ( Elec )  26.08 pence per day ( Gas ).

Are these prices decent in todays climate ?  Did i get lucky ( for a change ) ?

Yes, not bad.

I fixed late August with EDF and mine is 
 

Elec 19.10p per kWh Gas  3.884p per kWh

Standing Charge
 

Elec 24.02p per day Gas 26.12p per day

Mine is fixed until March 2024. £35 x 2 exit fee if prices start to plummet next spring.

FreeBear

deejaybee said:

I fixed with EDF early this year ( previous fix from them was coming to an end ).  I dont remember rising energy prices being a thing then ??  So i just went with an " Easy Online 2 year fix to Jan 23 "

Elec is 17.74 pence per KWH,  and Gas is 3.086 pence per KWH.

Standing Charge - 24.59 pence per day ( Elec )  26.08 pence per day ( Gas ).

Are these prices decent in todays climate ?  Did i get lucky ( for a change ) ?

You got a reasonable deal there... Just before I switched, OFTM was offering the following -

Elec - 21.473p, Gas - 4.275p

S/C Elec - 18.9p S/C Gas - 18.9p

Got a 1y fixed from Eon.Next (Next Online V7)

Elec - 20.009p, Gas - 3.847p

S/C Elec - 17.17p S/C Gas - 19.27p

Both sets of prices include 5% VAT and have no exit fees. Should there be a better deal available next year, I'll be ready to jump ship.

deejaybee

Cheers for feedback,  yep lets hope wholesale market calms down next year...