Was this A good move on a fix in hindsight

gefnew

Electricity

Fix Again 1 Year v10

Fixed term ends 23/10/2022

19.21 p/kWh 18.33 p/day

(All rates inc. VAT)

Gas

Fix Again 1 Year v10

Fixed term ends 23/10/2022

3.77 p/kWh 17.63 p/day

(All rates inc. VAT)

Cheers everyone.

QrizB

Yes. Have a cookie.

Astria

Seems pretty good to be fair

gefnew

Thanks everyone
 Do you think it will be below the new cap come April,
and still be a good rate.

Spies

gefnew said:

Thanks everyone
 Do you think it will be below the new cap come April,
and still be a good rate.

Let me get my crystal ball out.

QrizB

gefnew said:

Thanks everyone
 Do you think it will be below the new cap come April,
and still be a good rate.

As an uninformed internet opinion, I'll offer "yes" and "yes".

But your fix will expire before Winter 2022, so you'll need to look at the market again then.

Ant555

gefnew said:

Thanks everyone
 Do you think it will be below the new cap come April,
and still be a good rate.

I predict there is roughly a 0.00000000001% chance of the cap moving downwards at the next review so I think its safe for you to assume that if its below the cap now then its still going to be below the cap in April.

Why would you worry about that now though?

bagand96

gefnew said:

Thanks everyone
 Do you think it will be below the new cap come April,
and still be a good rate.

It's below the current cap. And we all know the cap is only going one way in April 

Astria

gefnew said:

Thanks everyone
 Do you think it will be below the new cap come April,
and still be a good rate.

The one you need to worry about is the increase next October where you'll be looking at the market again for another fix but other people have already fixed in August / Sept. So you could have a good rate April - September, but then a poor rate October onward through winter because you switched too late.

[All based on complete guesswork of course, as nobody knows what will happen next year]

gefnew

Will have the 49 days before contract ends maybe to sort something who knows.
Regards