Sainsbury's Energy - Fix or Leave as is?

otronics

Hello.

I am with Sainsbury's Energy and my fixed tariff for gas and electric ends on 25/09/2022.

I have shopped around and for me, Sainsbury's is still the "cheapest".

I have two options.

1)

Sainsburys Standard Variable

£133.26 /month monthly estimate

2)

1 Year Smooth Renew v21

£281.78 /month monthly estimate

Keeping in mind of more price rises coming, is it better to fix now or should I go onto the variable tariff (which it will automictically do if I do nothing)?

I've read various guides but it's tough to make a choice and thought I'd ask others.

Many thanks.

Oliver.

SaverRate

What are the unit rates and standing charges?

[Deleted User]

You need to compare the unit rates and standing charges at your usage across the fix period.

northernstar007

Sainsbury 1 Year Smooth Renew v21 any good? — MoneySavingExpert Forum

jobdone1

I love the sharks with the fancy names of smooth renew 🙄

drlabman

otronics said:

Hello.

I am with Sainsbury's Energy and my fixed tariff for gas and electric ends on 25/09/2022.

I have shopped around and for me, Sainsbury's is still the "cheapest".

I have two options.

1)

Sainsburys Standard Variable

£133.26 /month monthly estimate

2)

1 Year Smooth Renew v21

£281.78 /month monthly estimate

Keeping in mind of more price rises coming, is it better to fix now or should I go onto the variable tariff (which it will automictically do if I do nothing)?

I've read various guides but it's tough to make a choice and thought I'd ask others.

Many thanks.

Oliver.

If your fixed tariff ends on 25/09 you should have been offered Smooth Renew v20 a couple of weeks ago.  If you were, you've missed that boat.  My tariff ends on 01/10 and I accepted the v20 before the Aug 26th price cap review because it was clearly going up and the v20 would probably be pulled.  The v21 is more expensive than the v20 but without gambling on a variable tariff it's the best you'll do.

otronics

Hello all.

Here are my options...

Sainsburys Standard Variable

£133.26 /month (monthly estimate)


Electricity:

Unit rate:	28.455p per kWh
Standing charge:	43.39p per day

Assumed Annual Consumption:

2563 kWh

Gas:

Unit rate:	7.47915p per kWh
Standing charge:	27.22p per day

Assumed Annual Consumption:

8181 kWh

1 Year Smooth Renew v21

£281.78 /month (monthly estimate)


Electricity:

Unit rate:	67.704p per kWh
Standing charge:	43.39p per day

Gas:

Unit rate	16.9638p per kWh
Standing charge	27.22p per day

otronics

So it seems in the short-term, the variable is the best option but is fixing it better in the long-term?

Trynsave2

You need to compare your offered rates to the October cap rates to make your decision. The rates are pretty likely to be increased again in the new year, but by how much, no-one knows yet. The only thing you can do is calculate whether you would prefer/ can afford to gamble on paying a further increased rate in Jan if you don't fix now.

pochase

Based on todays very low prediction. After the news about Nord Stream a higher prediction is very likely.

jj_43

Consider the decision in this manner.. any fixes reflect forward energy prices, do you think prices will continue going up or down? The correct answer is you have no idea (you may have a view are you an expert?), why are you considering fixing (because the news), the risk is you fix at the highest price while SVT spreads the risk over months (hedging). Hedging is smart. So go with the SVT.