Energy advice

valenathan

Hi all, appreciate this gets asked many times a day but I can’t get my head around this situation sorry. 

Question is what can I expect my bills to look like if I don’t fix?

I pay quarterly and my energy bills for the last year came to around £800 total - I think the expected usage was £950. 

Attached shows my current tariff and renewal letter… cheap energy club says my cheapest fix deal is approx £2050 per year. 

Farway

Nobody can tell you, the new price cap is being announced tomorrow and until then it's guess work

TheMilkmansDad

if you don't fix you'll go on to the SVR tariff you've listed - you can work out how much that is based on your last 12 months usage. Bear in mind that that rate will go up around 50% on 1st April (we'll know soon exactly how much).

Astria

If you need to know how much you could be paying for your energy then you need to fix.

The variable rate may go up by 10%, 50%, or even 100%. Nobody knows yet until it's announced. The current guess is 50%, but the government might do something to prevent it going that high, like for example a 25% increase in April and another 25% in October (even if wholesale prices come down).