People's Energy Tariff ending

Haddenham35

Our current People's Energy Tariff with BG is ending next week - and I'm in a dilemma whether to fix on their Jul 23 v3 plan or to chance it with the standard variable until closer to the October price cap increase.

The tariff offered is looking something like 24.480p standing charge / 11.261p standard unit rate, and electricity 32.43p a day standing charge / 39.65p unit rate.

Any thoughts on what's a smart next move? is it a case of sticking now for certainty but potentially paying more over the year vs leaving it to the Energy gods and seeing how much it gets hiked up in October but potentially a few cheaper months now vs the fixed tariff?

Any help would be great.

Cheers

LADYXXMACBETH

I looked at the July fixed. Decided to buy then I changed my mind and cancelled. Mainly because during the summer I don't use much gas but use the same electricity. I figured I'd be paying quite a bit more over the next three months which could potentially wipe out any saving I'd get from fixing. I'm also planning to keep my heating off as long as I can bear coming towards winter. My heating over the Feb/mar/apr period was set at 14c and some days it was off if I could manage it. I've also bought a heated blanket, so hoping to not have the heating on unless it's very very cold. 
It's a risk I'll have to take. But I'd be gutted if come April the price falls and I fixed. Even if I end up paying more on the svr I feel the savings over summer and autumn will be better. 

Wjlk86

I'm in the same situation very confused trying to workout pros and cons as my dd will go up over £I00 a month from £800 a year bills (e&g) to nearly £1900 i think i am going to go with variable as i will be around £450+ better off, for a few months at least and fingers crossed it will go down a little next April very hard choices to make and a headache 

Haddenham35

Looks like I missed out on the July v1 offer and now only eligible for Aug v2:

Elec:

Standard unit rate

43.109p / kWh

Standing charge

28.055p / day*

Gas:

Standard unit rate

12.590p / kWh

Standing charge

25.576p / day*

Or, I do as discussed above and just see what happens with the variable. Feels like bad news either way.