Energy Prices

Lilipage

Hi, just joined forum. I am coming off a fixed rate at the end of May, my supplier is EDF, I have been offered the following rates May 24 Fixed   Electricity standing charge 32.15p kWh 36.27. Gas standing charge 27.22p and kWh 10.372.
variable Electricity kWh 29.64p Gas 7.517. The variable looks better now so should I still fix now.

BUFF

Hi, nobody can give you advice without annual usage figures in kWh (ideally real, measured rather than estimated).
Bear in mind that the SVT is currently forecast to increase ~40% for the "average" user come October.

Lilipage

Thanks Buff, but is that really relevant, this fixed price is for 2years until 2024, so my point is are the prices going to go up or down again. If they are going to rise again after October then it will be worth it.

[Deleted User]

Lilipage said:

If they are going to rise again after October then it will be worth it.

Nobody (Ofgem, Martin Lewis or anyone on the forum) knows for sure 

bristolleedsfan

EDF are currently offering cheapest existing customer dual fuel fixed rate based on average usage
Electricity unit rate likely to look very good on 1 October
Gas unit rate might look good on 1 October
£300 dual fuel exit fees
https://www.moneysavingexpert.com/utilities/-are-there-any-cheap--fixed-energy-deals-currently-worth-it--/

gefnew

This is what life is at the moment.
https://youtu.be/t4tPzlq7AGQ?t=3

BUFF

Lilipage said:

Thanks Buff, but is that really relevant, this fixed price is for 2years until 2024, so my point is are the prices going to go up or down again. If they are going to rise again after October then it will be worth it.

Well,
1. the prices that you have been offered for EDF Fix May24 look cheap compared to what they are offering me for a May 24 Fix ... 
2. in my case, the price for gas per kWh on the May 24 fix I am offered is 61% higher than I am currently paying them on the SVT. Do we expect a 61% rise from that for October & the next 2 years? (answer "who knows?") 
3. Early exit penalties are quite high

Again, without knowing your annual usage in kWhs it's hard for anybody to make any suggestions.