What rates are you being offered by your provider at the moment?

pochase

Nobody forces you to take a fixed tariff, and even the fix that you call extortionate might be great in a few months.

Some of the fixes that were 50% more expensive and sounded ridiculous, than the current cap are now a dream.

Yawn

pochase said:

@nursemolly & @Gravesberie
The SVT they are comparing to is the April 2022 SVT. Ofgem requires them to a do a comparison to the current SVT. This SVT is predicted to go up on the 1st of October to 14.97 gas and 52.28 electricity, with further increases in January and April. This is the reason why the fixed rate is in comparison so much more expensive.

@nursemolly
The rates offered to you don't look in any way advisable to take out this fix. Anything can happen of course, but they are jus tto expensive to be considered at the moment.

@Gravesberie
Yes, as written above the SVT will increase in October by about 82%, and than again in January and April.

Current predictions from Cornwall Insights (most likely outdated) from last Monday are 

Hi Pochase,

Could you give me the link to the table with the unit prices? Thanks!

I was looking for it everywhere when I decided whether or not to fix over the weekend. I could only find the headline "average household" figure, which didn't help me whatsoever.

Glad I fixed on Monday though. Sainsbury (EOn) pulled their deal and replaced their deal with a tariff that would cost me 15 pounds a month more!

pochase

Sorry, but that is a table I did myself based on the latest Cornwall Insight predictions from last Monday.

The people in the forum who calculate the rates use the assumption that the standing charge stay the same, so we deduct £100 for gas and £170 from the forecasts. Than divide by 2900 for electricity and 12000 for gas and you get the unit rates.

Otherwise you can look at Axiolione forcasts

https://www.linkedin.com/feed/update/urn:li:activity:6965551623523749889/

Ocotbe rcap is very similar, but later caps are much higher. They include unit rate forcasts.

Telegraph_Sam

Thinking along similar lines I was wondering if it would be feasible to generate a shorthand average cost for each tariff making assumptions about the key (consumption) variables to produce just one overall total figure (for gas and electric separately). It would not be accurate as no averages ever are. But it would make it easier to compare / screen a large number of tariffs quickly as a precursor to examining the interesting ones in greater detail whilst they are available.

The rate that tariffs are being introduced and withdrawn in the current environment makes winning at computer games seem like child's  play.

pochase

That is what the team on this site does for the recommendations what tariff can be considered.

Problem with that is that it does not take into account that a tariff with a reasonable gas unit rate and expensive electricity  is much better suited for a heavy gas user than for a low gas user.

You always need to do your own calculations. 

97GEBD

QrizB said:

gdbagley said:

So the dreaded time is up for me. My fixed term is coming to an end.

...
On the face of it, Variable looks great but how much will that change, are any of the deals here worth a punt now, or should I stay variable briefly?

Do you feel lucky?

Variable will increase from the 1st of October, most probably to something similar to the fixes you've been offered. And is expected to rise again in January.

The (one-year?) "plan for everyone" is slightly cheaper than the two-year Exclusive offer, but will put you in this same position next year. We're all hoping prices will fall by then but that's not a given.

Pretty much what I’ve been thinking. It’s a bit of a gamble either way. 

£60 exit fee doesnt seem too bad if things get better.

I’m tempted to go on variable for a month or two see, how this all pans out.

Really don’t know what to do! The thought of doubling my monthly spend makes me feel sick!

Telegraph_Sam

pochase said:

Problem with that is that it does not take into account that a tariff with a reasonable gas unit rate and expensive electricity  is much better suited for a heavy gas user than for a low gas user.

You always need to do your own calculations. 

Of course, this would act purely as an initial screen and as a quick signpost to what offers merit more detailed investigation. Separately for gas and electricity for the reason you state.

pochase

Main problem I see is that most "good" fixes are for existing customers only, so only customers see them. So you would need people to collect data for fixes that are only available for a certain group.

Also the market is fast moving, some fixed tariffs stay only online for days. 

That is the reason the cheap energy club is not active any longer.

Telegraph_Sam

I confess to not realising that the CEC had ceased to function. All the more reason IMHO to ask what kind of a least worst alternative could be created other than abandoning every energy iser to his or her fate!

Joe9090

I am sure this has been asked before but I cannot find the answer.

After putting my figures in Martins 'Should you fix energy? calculator' I am getting a 'big do not fix' answer! https://www.moneysavingexpert.com/utilities/-are-there-any-cheap--fixed-energy-deals-currently-worth-it--/#deals

I am a  average user that is about to come off a fixed rate of about £1200 and have been offered £3600 for another year. So it's three times my current rate and Martin says anything over twice the current rate is a big no no. Why? £3600 is about the projected figure for October so I would be prepared to go for the new fix and not have to worry about any of the capped figures from January onwards.