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New tariff

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Comments

  • meinnit said:
    No, that looks terrible, its not much different to what the electric cap is predicted to go to in April, so why tie yourself into that for an extra few months?
    If these fixed rates are indeed the same as the April cap you would protect yourself for an entire winter period following the October price rise
    You are assuming it would go up again in October. Nobody knows what prices will do.
  • Astria
    Astria Posts: 1,448 Forumite
    1,000 Posts Second Anniversary Name Dropper
    meinnit said:
    No, that looks terrible, its not much different to what the electric cap is predicted to go to in April, so why tie yourself into that for an extra few months?
    If these fixed rates are indeed the same as the April cap you would protect yourself for an entire winter period following the October price rise
    You are assuming it would go up again in October. Nobody knows what prices will do.
    Very true, but it would make sense to have a 50% increase in April and October rather than just a 100% increase in April.
  • meinnit
    meinnit Posts: 929 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    meinnit said:
    No, that looks terrible, its not much different to what the electric cap is predicted to go to in April, so why tie yourself into that for an extra few months?
    If these fixed rates are indeed the same as the April cap you would protect yourself for an entire winter period following the October price rise
    You are assuming it would go up again in October. Nobody knows what prices will do.
    It's not likely to be lower than the April cap



    https://www.bbc.co.uk/news/business-59957716

    British Gas owner Centrica warns high energy bills to last two years

  • spot1034
    spot1034 Posts: 953 Forumite
    Part of the Furniture 500 Posts Name Dropper
    I'd advise the OP to wait to see what the rise in the cap actually is. I still find it difficult to believe that anything remotely like a 50% (or even higher) rise will be allowed by the government, whatever financial jiggery-pokery they have to employ to avoid it.

    With fixes remaining stubbornly high as wholesale prices spike upwards again, it could well be that staying on the SVT for a while longer might be the best option. I don't know any more than anybody else, but I wouldn't risk opting for an expensive fix right now with so much still up in the air, and we might know more about what will happen in April in as little as two weeks from now.
  • meinnit said:
    No, that looks terrible, its not much different to what the electric cap is predicted to go to in April, so why tie yourself into that for an extra few months?
    If these fixed rates are indeed the same as the April cap you would protect yourself for an entire winter period following the October price rise
    You are assuming it would go up again in October. Nobody knows what prices will do.
    All the evidence points to higher prices, look at the gas futures market, look at the losses the energy companies are currently making, look at the lack of Russian gas, no Nordstream 2 etc etc.

    They are going to go up again in October (unless there is, government interference in the market which in all likelihood will be minimal)
  • meinnit said:
    meinnit said:
    No, that looks terrible, its not much different to what the electric cap is predicted to go to in April, so why tie yourself into that for an extra few months?
    If these fixed rates are indeed the same as the April cap you would protect yourself for an entire winter period following the October price rise
    You are assuming it would go up again in October. Nobody knows what prices will do.
    It's not likely to be lower than the April cap



    https://www.bbc.co.uk/news/business-59957716

    British Gas owner Centrica warns high energy bills to last two years


    Shock News:  Company flogging overpriced fixed tariffs says that people should get them


    Come on - they're not going to say it's all just a load of fuss about nothing, are they?
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