New fixed rate offer, any good?

Powapa

Hi all, can someone point me in the right direction if this fixed tariff I have been offered is any good? I am an electricity only user using 2400KWH per annum;

Currently paying 15.5p per KWH and 14p per day standing charge, which is up at the end of September. 

New fixed rate offered from October is for 1 year at 59.8p per KWH and 38p per day standing charge. 

BUFF

pochase will no doubt be along shortly with his charts of predicted prices but that strikes me as an OK offer for the current market. At the very least consider taking it in case it gets withdrawn & then using the 14 day cooling off period to think further.

Astria

Sounds like a bargain, slightly more expensive Oct - Dec, but could possibly by cheaper January onwards if the predictions are correct.

The_Hawk

If I hadn't already fixed my electricity, I'd have probably signed up for that at this stage, assuming the exit fee wasn't ridiculously high.

pochase

Looks like a very good offer


This would be £2000 cheaper than the already cheaper Auxilione prediction based on yesterdays market.

Are you not using an E7 tariff? And who is the fixed tariff with, this looks like rates that were already withdrawn a few weeks ago.

I am not aware of any fixed tariffs below 60p.

Edit
The worksheet is currently not really capable to cater for electricity as heating energy, only the gas usage is split is really catering for higher use in winter months. been used for heating. 

[Deleted User]

Hi,

OP said,

"I am an electricity only user using 2400KWH per annum",

that table looks a bit frightening.

Powapa

Thanks all, and thank you @pochase you've put 24000 but I've divided by 10 and get the gist. The fixed tariff is with Logicor Energy and is not a E7 rate. 

pochase

It's slightly more than divided by 10. Here is the correct one

Powapa

@pochase does this also take into account the £400 the government are providing? 

pochase

No, that is based purely on your usage.

The way the £400 will work for example for BG users is that they will take the full agreed direct debit. Once they have received the money they will transfer £66/£67 back to your account.

Most other suppliers have not published details how they will do it.

Powapa

@The_Hawk asked about the exit fee and it is £80, decreasing with each month I am into my fixed 12 months.