Variable or Fixed?

Miller1508

Apologies if this has been asked before, I'm a bit late to the party on this one.  My current deal has come to an end and I have done a search and I can have a variable deal for £1440 or a fixed for £1842 - £400 more per year.

My question is, given the uncertainty of energy prices is it worth paying in the extra £400?

chewyluis

I'd personally gamble on being moved to a capped variable tariff for now, which is way below current market cost, as these are likely to be your highest usage months. And then look at the market in the spring when the next cap price hike will be introduced.
IMO - if prices continue at their current pace and direction (UK gas futures are up almost 18% today alone), then so many people will be in severe financial trouble that the government will need to step in.

Miller1508

I have been moved to the Standard tariff with my current provider - I've read somewhere it's better to stay where I am because of the energy price cap - is this correct?

Ultrasonic

Miller1508 said:

I have been moved to the Standard tariff with my current provider - I've read somewhere it's better to stay where I am because of the energy price cap - is this correct?

Probably. It's what I'd do.