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Cheap energy club auto switch

Peco141
Peco141 Posts: 352 Forumite
Part of the Furniture 100 Posts Name Dropper Combo Breaker
I joined MSE’s cheap energy club a couple of years ago.

My Dad called earlier to say I shouldn’t switch to a new fixed rate and should remain on a variable energy rate and just top up any additional costs.

Do I need to cancel MSE cheap energy auto switch to a new tariff when my current tariff ends in May in order to keep costs down?

Apologies for my ignorance.

Comments

  • Gerry1
    Gerry1 Posts: 10,852 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Best to avoid all such schemes, even in normal times, because you can do better if you understand and do it yourself.
    With the current uncertainties there aren't many right answers, almost anything must be a gamble unless you have a very good crystal ball.  It also depends on your attitude to risk, some people will agree to a (relatively) cheap tariff with a high exit fee, others prefer certainty even if it looks a bit more expensive.
  • EssexHebridean
    EssexHebridean Posts: 24,833 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    edited 25 February 2022 at 9:15PM
    The MSE Cheap Energy Club has already emailed out a few weeks ago I believe confirming that any auto switching that would usually take place is suspended currently. 
    🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
    Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
    Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
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