Svt/fixed plan

Cchilvers1

Hi I’m looking for advice I think I have a good idea of what to do just looking for some advice to back me up.my current plan is running out on the 31st jan and trying to decide whether to go on svt or fix. BG have sent me a letter to give me some options and from what I can make out I seem to be better off fixing. As I know the svt figures quoted will shoot up come April.which seems to go against what everyone is saying at the moment any assistance would be glad-fully appreciated.

TheMilkmansDad

basic math and assumptions here to get a rough idea.

The SVT is expected to go up by around 50% (ish - makes my maths easier!) So the £719.65 will go to around £1079.48 (rough guess).

The fix is £1,033 so in theory the Fix may be a better option. However, that would be fixed till July '23 so if prices come down you'll have to fork out the exit fees.

Rough maths of course. Martins show last night (catch up on the Hub) explains it a bit better!).

I'd fix though if it we're me so i can plan my budget better.

Verdigris

I'd go on to SVT. The new cap will be announced in Feb/March and you can make a more informed decision then. There's no exit fee from the SVT but it is the chapest deal you can get.

jimjames

Verdigris said:

I'd go on to SVT. The new cap will be announced in Feb/March and you can make a more informed decision then. There's no exit fee from the SVT but it is the chapest deal you can get.

Good point. The fix should still be available and at least you then have the higher consumption months up to April on a lower rate

Cchilvers1

TheMilkmansDad said:

basic math and assumptions here to get a rough idea.

The SVT is expected to go up by around 50% (ish - makes my maths easier!) So the £719.65 will go to around £1079.48 (rough guess).

The fix is £1,033 so in theory the Fix may be a better option. However, that would be fixed till July '23 so if prices come down you'll have to fork out the exit fees.

Rough maths of course. Martins show last night (catch up on the Hub) explains it a bit better!).

I'd fix though if it we're me so i can plan my budget better.

You don’t know how much this has helped thank you it was explained very well.

Cchilvers1

Verdigris said:

I'd go on to SVT. The new cap will be announced in Feb/March and you can make a more informed decision then. There's no exit fee from the SVT but it is the chapest deal you can get.

Really appreciate the advice thank you 

meinnit

jimjames said:

Verdigris said:

I'd go on to SVT. The new cap will be announced in Feb/March and you can make a more informed decision then. There's no exit fee from the SVT but it is the chapest deal you can get.

Good point. The fix should still be available and at least you then have the higher consumption months up to April on a lower rate

The fix may not be available for that price in April. It's a gamble whichever option you pick right now