Should I fix?!?!

lisastevo

I feel sick with the news today. We can just about manage the hike in October but not what’s potentially coming in January. I’ve attached a picture of what British Gas has offered for our fix. I don’t really understand it 100% to make an informed decision alone.

All the info is on the picture but to summarise -
Currently pay-
Gas - 3838 kWh per year £32 DD monthly
Elec - 4336kWh per year £117 DD monthly.

I just need another pair of eyes to help me try decide what to do.

Thanks in advance 

pochase

Have you checked that it is still available? Looks to "low" to be still on offer. When did you receive it?

lisastevo

pochase said:

Have you checked that it is still available? Looks to "low" to be still on offer. When did you receive it?

You’re right…we’ve been on holiday for 3 weeks, letter dated 12th August just realise ran out 2 days ago. Guess we just ride it out then. God help us. We won’t be able to afford another 50% on top, I genuinely don’t know what to do. Sad times. Thanks for your reply 

[Deleted User]

Just because you have missed the old fixed tariff doesn't mean that you can't take whatever today's fixed tariff offer is.

lisastevo

[Deleted User] said:

Just because you have missed the old fixed tariff doesn't mean that you can't take whatever today's fixed tariff offer is.

Nothing being offered on online app for us yet. Will keep an eye out. Still don’t understand it enough to know whether a fix is the way to go?

[Deleted User]

Only you can decide that - it's likely to be more expensive than the SVT for October to January, then either the same or cheaper January - June and who knows afterwards.

All about what you think the variable tariff might do, and how much 'penalty' you're willing to pay in the next couple of months to hedge against it.