Variable vs fixed

esther444

Hi all, I would love some help on crunching the numbers as my electricity tariff is ending at the end of July.. I've tried working it out myself but I'm questioning whether I've done it right and don't really want to get it wrong. Though appreciate it's mostly a gamble right now anyway... 

I'm with EDF current tariff ends July 31st

Unit rate - 16.92p per kWh

Standing charge - 22.05p per day 

Yearly use 2,298kWh

Fix rate for 2 years (£100 exit fee) 

Unit rate - 41.57p per kWh

Standing charge - 48.13p

Variable 

Unit rate 27.86p per kWh

Standing charge - 48.13p 

From my workings out, even when the variable rate goes up in October it'll likely be quite similar to my fixed rate they are offering... so to be there doesn't seem to be much in it..?

pochase

Agreed, there is not much to win for you. Current predictions are 1p to 2p more for the new SVT, but coming down from April. Take into account that the fix is for 2 years and what you would pay more for August and September and the fix makes no sense at all.

Of course if the cap get much more expensive than we fear now, that could change.