Variable rates when to fix again

hib67

Hi 

I was watching MSE the other week and I thought I heard Martin Lewis say that if you were just coming out of a fixed energy deal into the variable ( which I have just done).  With the new cap increases that it might be worth fixing again now as the new cap would certainly be higher than any fix you could get at this moment in time.  

Can anyone confirm this or not?

I am currently paying £110 per month with Eon variable tariff and have over £300 credit with them.  I have found a 2 year fixed with SO Energy which is higher than I am on right now at £148 per month, but if the cap rises (and I have no idea what the cap is because I can not find any information about it anywhere that makes any sense to me), then this seems like a good move????

I thought he said if the new plan was less than 60% higher than what you are currently on to do it.

thanks
Gail

TheMilkmansDad

what are the tariff rates? monthly DD amount is - pretty much - useless.

recent general advise here for people coming of fixes is to drop to the SVR tariff and see what fixes are out there in Arpril time.

PennineAcute

TheMilkmansDad said:

what are the tariff rates? monthly DD amount is - pretty much - useless.

recent general advise here for people coming of fixes is to drop to the SVR tariff and see what fixes are out there in Arpril time.

This is where the calculator comes in.  Depending on the FRT increase, it may be better to go now, rather than wait to April.  Not everyone fits into Martin's do nothing. 

hib67

I know i have done nothing and gone onto my svr as advised but after seeing the last programme where he did say some might benefit from going fixed now, that is what I am thinking.  I think I remember him saying something about if you new rate will only be about a 60% increase no more then go now.

Where is the calculator I've not seen that?

thanks
Gail