Complicated with Sainsburys energy

mooncat1

Hi, can’t work out what to do!! Am on a fixed deal with Sainsburys energy which is due to end in September (electricity 19p/kWh, gas 3.96p/kWh) which was total of £96 did/month - if I do nothing will be £157/month until next increase or a fixed rate for 1 year has been offered £270/month (elec 53p, standing charge 43p and gas 13p, standing charge 27p/day). No exit fee. Am trying to budget on one part time income whilst supporting 3 teenagers. Feel have to stay with Sainsburys as have a payment holiday until November having won a competition so I appreciate I am very lucky, but feel very unsure as to what to do for September as I have to select an option. Any help/advice would be appreciated 

Mstty

On the face of it the fixed rate price per kWh look very tempting considering the current predictions.

What is your annual usage of gas and elec in kWh?

Astria

Take the deal, if in 10 days when the new price cap is announced it's lower, then decide if you want to stay on your new fixed deal or drop onto the SVT.

mooncat1

Mstty said:

On the face of it the fixed rate price per kWh look very tempting considering the current predictions.

What is your annual usage of gas and elec in kWh?

Mstty said:

On the face of it the fixed rate price per kWh look very tempting considering the current predictions.

What is your annual usage of gas and elec in kWh?

Mstty said:

On the face of it the fixed rate price per kWh look very tempting considering the current predictions.

What is your annual usage of gas and elec in kWh?

My annual usuage of gas is approximately 11,702kwh and electricity is 2659kwh. - it’s an older 3 bed rental detached house. I’ve been leaning towards the fixed rate, than I have the jitters about the cost, although their customer service has been very helpful. Thanks for your reply 

Olly_J

I'm on Sainsbury too, it's likely to be around the same as the October SVT, but it could save quite a lot if the Jan rise is as much as predicted.

There is no exit fee, so you can always go back to SVT if it does turn out to be cheaper due to political interventions that may or may not happen etc

Coffeekup

My deal with sainsburys ends the same time as your's. The emailed me their version 19 tariff 1 year smooth renew...
I asked if I take the deal will it apply now or on the date my tariff finishes? The reply was they can lock in the deal and apply it at the end of September when my current fix ends. There is no exit fee either so you can always pull the plug and go SVR.

For me it's an extra £20 a month over the projected October price cap. It's the electric unit charge that sting's. I like the gas rate.

mooncat1

Yes I agree that it’s the electricity charges that sting! I think i will bite the bullet and go for the fixed tariff, it is good that there is no exit fee unlike a lot of companies. Thanks for everyone’s thoughts - it’s good to know how everyone else is managing these difficult times. Off to stock up on candles 😬

Mstty

As Sainsbury's are linked to Eon Next does this also mean zero exit fees?

There is one caveat now with all the media and push for the subsidised cap. It may mean people on fixes will want to revert to the SVT if that happens.

hollie.weimeraner

I'm currently on the same and considered moving to Octopus Go as I have an electric car but the daily rate with them is eye watering even allowing for the price cap.  I think I'll ring Sainsburys today that sounds a good deal fro 12 months, especially with the predictions.

pochase

What exactly is eye watering about the 40p day rate for the next 12 months? 

In 1.5 month you will have a 53p single rate on SVT.

sandy700

so is the consensus that we should pick the fix but if the SVT is less in October we cancel the fix and go on the SVT?