Fixed deals

[Deleted User]

SUPERGIRL2020 said:

Bungle73 said:

SUPERGIRL2020 said:

I didn't fix and it worked out not too bad staying on the standard EDF tariff but now EDF have a fix deal called essentials fix sept 30th 26 and I’m wondering should i go for it but the exit fees are insane £200 each 🫨

I just jumped ship from EDF to So Energy’s So Juniper One Year tariff. EDF’s fixes didn’t do anything for me, and I should be saving money as well as be immune from any price rises next year.  

I saw them on a uswitch but I would be worried about them going bust 

The chances of any supplier going bust in the near term is minimal. Ofgem regulation has been improved significantly since the Lemmings went over the cliff.

MultiFuelBurner

I would caveat the above with the words big energy suppliers and not the plethora or new small suppliers now appearing in the market.

I personally would not fix with one of the new suppliers just yet as we see how they get on.

Others who believe Ofgem have this all buttoned up and suppliers can go bust......okay then😜

[Deleted User]

MultiFuelBurner said:

I would caveat the above with the words big energy suppliers and not the plethora or new small suppliers now appearing in the market.

Hardly, a plethora. As I said, Ofgem asserts that it has addressed the regulatory failures that lead to many suppliers going bust. It has also brought in 3 monthly Cap reviews and backwardation of unforeseen costs as a result of market price changes. 

"In the letter, he tells the sector’s CEOs that energy regulator Ofgem is ready to act against suppliers that do not yet have sufficient capital if they use profits for paying dividends above recapitalising.  

After a period where suppliers have largely made losses due to difficult trading conditions, the price cap has now dropped, and the price of wholesale energy, while still well above pre-crisis levels, is much lower than over the last two years. This means the sector is likely to return to profit this year and suppliers can recoup some of the losses from recent years. 

But while Ofgem has always been clear that reasonable profits are essential for a sustainable and well-functioning sector, the letter makes clear that financial resilience must be prioritised.' Source: Ofgem July 2023

SUPERGIRL2020

Bungle73 said:

SUPERGIRL2020 said:

Bungle73 said:

SUPERGIRL2020 said:

I didn't fix and it worked out not too bad staying on the standard EDF tariff but now EDF have a fix deal called essentials fix sept 30th 26 and I’m wondering should i go for it but the exit fees are insane £200 each 🫨

I just jumped ship from EDF to So Energy’s So Juniper One Year tariff. EDF’s fixes didn’t do anything for me, and I should be saving money as well as be immune from any price rises next year.  

I saw them on a uswitch but I would be worried about them going bust 

It’s no issue, in that event you just get transferred to another supplier. 

Oh I didn't know that