My energy deal ends in March. Should I switch before the price rise?

wezaa

I'm currently with bulb spending around £166 a month for dual fuel. But my fixed rate ends on the 11th March.

Using a comparison site, I can get a 2 year fixed deal with Sainsuburys for £248. Which is around 48.8% more than what we currently pay, but less than the 51% increase.

Is it worth moving?

Verdigris

I wouldn't make decisions on DD amounts.

QrizB

wezaa said:

Is it worth moving?

The answer is:

Verdigris said:

I wouldn't make decisions on DD amounts.

What is your estimated annual consumption for each of gas and electricity (it should be on your bill)?

What is the name of the fixed-rate deal Bulb have offered, and what are the rates?

wezaa

Current tariff is Vari-fair

Projected on latest bill is 
Elec - £1194 - 5487kwh
Gas - £588 - 12192kwh

They have not sent me a new offer yet. Should they have?
I can't see anything on my bill account fixed rate length. So I'm guessing Vari-fair is actually variable rate...

QrizB

wezaa said:

Current tariff is Vari-fair

Vari-fair is not a fixed rate, it's their standard variable rate. Bulb only offer one rate, their variable.

wezaa said:

Projected on latest bill is 
Elec - £1194 - 5487kwh
Gas - £588 - 12192kwh

That's consistent with the October 2021 variable rate cap.
From April it's likely to rise, potentially to the new cap; around £1700 for electricity and £1000 for gas, £225/month.

Using a comparison site, I can get a 2 year fixed deal with Sainsuburys for £248.

Is it worth moving?

Well that's 10% more than the April variable cap. It really depends on whether you expect prices to rise in October, and whether you think fixed-rate offers will get better or worse between now and then.