I’m confused…..Advice please

TS1103

Hi all,

This is my first post…..

I have been reading through all the posts but I seem to be getting more confused as I go!

I’m with E.on and my tariff is due for renewal on 05/10.

I don’t know if it’s best to let my tariff run out and go onto the variable or fix it for a year. I currently pay about £100 DD.

I have attached the screenshots from what E.on have sent so you can take a look. They are my current rates, the variable and the fixed. With estimated monthly DDs. (They might not be in the right order   )

Im mindful that the cap is reviewed on Friday so if I’m going to fix then I need to do it asap! 

Any help or advice would be really appreciated!

Thanks in advance.

Tomo

QrizB

Welcome to the forum.

I'd suggest you accept the Next Online V19 fixed rate offer, preferably right now before they change it.

There are no exit fees so, if the cap is much lower than expected when Ofgem announce it on Friday, you can always leave the fix and drop back to the Next Flex SVT.

pochase

First advice, fix now. You have a 14 day cool off period, so you should fix today and than wait what is going to happen on Friday.

The predictions show that the SVT will be around 8p cheaper for electricity, and about the same for gas.

What you need to take into account is that there already further increases for January and April predicted, here is the prediction for Cornwall Insights.


This are just predictions of course, but CI has a very good track record predicting the cap. How good you will see on Friday comparing the cap with above prediction.

Janie2008

Suggestion on another post this has been withdrawn so I would take it now if you still can.

TS1103

Yes I have fixed on the above screenshot for now. Then as suggested asses after Friday.

Thanks to you all.

Astria

TS1103 said:

Yes I have fixed on the above screenshot for now. Then as suggested asses after Friday.

Thanks to you all.

Don't cancel just because of Friday announcement being cheaper though, the one in January could well be more expensive!

danblade1

Grateful for you asking this question as I’d been wondering about switching to the same tariff - can I just double check that it’s feasible to leave a fixed rate tariff early for the variable rate with the same supplier? 

Just worried about getting locked in with EON for 12 months if I can’t switch to a variable tariff with them (if needed) as unlikely to be any other supplier options available. If this isn’t an issue then will definitely look to take the deal as hopefully will help ahead of next year’s rises.

Brie

Nothing to add about the tariffs on offer but do check that the estimated use for the year is accurate.  Mine wasn't by a large margin - use was that of Jan & Feb multiplied by 6 which massively overinflated what I might want to be doing for heating in the summer months.

TS1103

Just a quick update on the above.

if the energy cap gets frozen we are all stuck on the current rise aren’t we?

In short there is no benefit in cancelling now? 

BUFF

There are no exit fees on the tariff that you agreed to so you could move from it without penalty.
Tbh I would wait at least until Thursday (supposedly that may be the day for an announcement) before making any decisions.

TS1103

Time to cancel at £295 fixed and move to a variable now they will be fixed for 2 years?

what’s the advice?

cheers everyone!