Should i fix my energy now or wait?

mrgstr

Hi,
My fixed rate gas and electricity finished in February and i am now on the variable rate. On my variable i'm paying £107 a month. 
I have 2 options to go 1 or 2 year fixed, both paying £288 a month.
Should i just stay on variable until 1st April and see what the offer is then or take up one of the fixed rates?
I'm £350 in credit, so i know what i have been paying isn't too little for the energy i use.
Advice would be good.
Thanks

TheMilkmansDad

what are the tariffs that you are being offered? How much energy do you use? Are your current bills accurate/based on actual readings?

Far too little information for anyone to offer advise.

mrgstr

New rates offered are: 
Daily unit rates of electricity @ 42.02 p/kwh
Gas unit rate  @ 14.26 p/kwh
My current bills are accurate, i submit the readings monthly
For 2021 i used:
Electricity 2343 kwh
Gas 16771 kwh

Thanks

Verdigris

You don't say what the daily charges are, but as you're a relatively high gas user, I'd stick with the SVT, and wait to see if things improve a bit, over the summer.

SilverSurfer22

According to Martin there are no "deals" to be had and he's advising everyone to stay with their current supplier.

I came to MSE praying there might be some glimmer of hope as my energy supplier emailed me to say as from 1st April my supply will increase by a whacking £738 a year (which is the 54% increase and not related to the current political situation).....and likely to increase further come 1st October.

In my 71 years I've never known such horrendous price increases.

jimexbox

mrgstr said:

New rates offered are: 
Daily unit rates of electricity @ 42.02 p/kwh
Gas unit rate  @ 14.26 p/kwh
My current bills are accurate, i submit the readings monthly
For 2021 i used:
Electricity 2343 kwh
Gas 16771 kwh

Thanks

That's a fixed rate. If you do nothing you'll stay on the capped variable rate. Which even from April 1st is far lower. Obviously due to rise again on October 1st.

Your gas is pretty high, I'd drop the thermostat if your health is ok. 

mrgstr

jimexbox said:

mrgstr said:

New rates offered are: 
Daily unit rates of electricity @ 42.02 p/kwh
Gas unit rate  @ 14.26 p/kwh
My current bills are accurate, i submit the readings monthly
For 2021 i used:
Electricity 2343 kwh
Gas 16771 kwh

Thanks

That's a fixed rate. If you do nothing you'll stay on the capped variable rate. Which even from April 1st is far lower. Obviously due to rise again on October 1st.

Your gas is pretty high, I'd drop the thermostat is your health is ok. 

I think it was high due to working from home during to Covid. For instance 2019 the total gas was 11700. 

I'll just stick with the variable and see what happens.

laceythomson

I doubt its high because of WFH and not because of fluctuations or other weird reasons. 

mick4111

Im new here so jumping on this topic. we use electric only besides oil.

Presently on EDF  fixed tariff until june 2022 paying £40 month. £15 exit fee.
Edf are offering another 2 yr deal at £119  with £100 exit fee with  unit rate 53.10p St chg p37..92 annual est £1417
 or variable at £71 with no exit fee unit price 29.24p and st chg p37.92 annual est £842.

annual use is approx 2409 kwh..

should I accept variable now or will it still be available june?

comparison sites not giving me any price even cheaper than edf fixed.

Suggestions please.

Verdigris

Have a look at Octopus. You're a below average user, so a lower daily charge would benefit you, as long as the unit price is equal or less.

jimexbox

mick4111 said:

Im new here so jumping on this topic. we use electric only besides oil.

Presently on EDF  fixed tariff until june 2022 paying £40 month. £15 exit fee.
Edf are offering another 2 yr deal at £119  with £100 exit fee with  unit rate 53.10p St chg p37..92 annual est £1417
 or variable at £71 with no exit fee unit price 29.24p and st chg p37.92 annual est £842.

annual use is approx 2409 kwh..

should I accept variable now or will it still be available june?

comparison sites not giving me any price even cheaper than edf fixed.

Suggestions please.

A 53.10 kWh is extremely expensive. A massive increase on the April 1st capped variable rate of around 29p.