Martin Lewis: Energy price cap to rise by 51% on 1 April - should you fix now?

ispookie666

Just checked with Eon Next - The tariff they are offering for a 12m fix is 
Day 28.4
Night 16.8
Standing 40.3
Does not look like a bad deal. 

booshya

ispookie666 said:

Just checked with Eon Next - The tariff they are offering for a 12m fix is 
Day 28.4
Night 16.8
Standing 40.3
Does not look like a bad deal. 

Cor, that didn't last long

Just been on their website, where I am first presented with the following warning:

"Whilst we'd love to have you, with energy prices at record highs, it might be better for you to stay with your current provider. "

But I pressed on regardless.

They are now only offering a 2 year fixed, based upon Electric Only (E7) for the Eastern Supply region.

Details as follows:

Tariff name: Next 2 Year v16
Day / night rate    44.61 / 23.33p per kWh
Standing charge    30.55p per day

Swipe

booshya said:

Details as follows:

Tariff name: Next 2 Year v16
Day / night rate    44.61 / 23.33p per kWh
Standing charge    30.55p per day

I'm currently on a 2 year fix until end of April 23 paying £0.088 for my night rate and using 20000KWH. That fix would make my annual bill about £5000  

bristolleedsfan

booshya said:

ispookie666 said:

Just checked with Eon Next - The tariff they are offering for a 12m fix is 
Day 28.4
Night 16.8
Standing 40.3
Does not look like a bad deal. 

Cor, that didn't last long

Just been on their website, where I am first presented with the following warning:

"Whilst we'd love to have you, with energy prices at record highs, it might be better for you to stay with your current provider. "

But I pressed on regardless.

They are now only offering a 2 year fixed, based upon Electric Only (E7) for the Eastern Supply region.

Details as follows:

Tariff name: Next 2 Year v16
Day / night rate    44.61 / 23.33p per kWh
Standing charge    30.55p per day

It is an existing customer tariff

ispookie666

the V16  tariff is true to its name.. the prices are sky high
Like for like(Electric only with the current price cap) - the 12m fix is going to be £320 more and 24 month fix is going to be £1130 more!

donny-gal

Our BG deal ends at the end of Jan.  This is their offer.  Is it good or bad?  Thanks

meinnit

donny-gal said:

Our BG deal ends at the end of Jan.  This is their offer.  Is it good or bad?  Thanks

That's a very reasonable offer for a fix

QrizB

donny-gal said:

Our BG deal ends at the end of Jan.  This is their offer.  Is it good or bad?  Thanks

Exclusive Fix April 2023 looks quite competitive for a fixed-rate tariff; the electricity unit price is only a penny or so higher than the current cap. The gas rate is a bit of a hike but still lower than is predicted for April. I see from your projected consumption that you use more electricity tan average, but less gas, and so those numbers work in your favour.

If you want the comfort of a fixed tariff, it's a relatively good one for the current market.

donny-gal

QrizB said:

donny-gal said:

Our BG deal ends at the end of Jan.  This is their offer.  Is it good or bad?  Thanks

Exclusive Fix April 2023 looks quite competitive for a fixed-rate tariff; the electricity unit price is only a penny or so higher than the current cap. The gas rate is a bit of a hike but still lower than is predicted for April. I see from your projected consumption that you use more electricity tan average, but less gas, and so those numbers work in your favour.

If you want the comfort of a fixed tariff, it's a relatively good one for the current market.

It's not the comfort, but the risk of fixing and the. The Government coming up with a "rescue package", and paying over the odds.  DG

QrizB

donny-gal said:

It's not the comfort, but the risk of fixing and the. The Government coming up with a "rescue package", and paying over the odds.  DG

I'm not at all convinced that this government is going to come up with a rescue package. The best I'm hoping for is something similar to the Warm Homes Discount to help the lowest paid.