Tariff confusion

Birmanmum

Hi, I have a smart pre payment meter with EDF on a fixed tariff until November 2022. I have economy 7….day rate 23p per kwh & night rate 9.23p per kwh. Daily standing charge of 28.9p per day. All electric bungalow with Dimplex Quantum storage heaters. I am 75 on state pension and guaranteed pension credit. What is my best option when this fix expires please? Am probably not going to put the heating on at all this winter but still need to know what my best option is after November. Also, have seen an ad for a mini plug in heater pro x (German?) and wonder if it’s worth buying one…..
Thank you all in advance 

uksitebuilder

Best to wait until Thursday's government announcement and then see what is offered.

What_time_is_it

uksitebuilder said:

Best to wait until Thursday's government announcement and then see what is offered.

But should we then act straight away? Or wait for a month or two until they change their mind again and come up with a different "plan"?

TheBanker

If your fix expires in November, I wouldn't rush into anything. Once the government announce whatever they announce, this may impact what fixed rates are offered (e.g. if they announce a freeze for three months, as some reports suggest, it may still be worth fixing to benefit from price certainty after the three months ends. If they announce an 18 month freeze then fixing will become irrelevant as everyone is effectively on an 18 month fix). I'd leave it a couple of weeks until the dust settles a bit, then decide.

Birmanmum

Good idea! Thank you 

Birmanmum

And anyone got any ideas about the heater pro x and whether it’s worth getting one please? I don’t want to fall foul of a scam when I have to watch every penny 

uksitebuilder

What_time_is_it said:

uksitebuilder said:

Best to wait until Thursday's government announcement and then see what is offered.

But should we then act straight away? Or wait for a month or two until they change their mind again and come up with a different "plan"?

I personally will jump back to SVT from my June fix if the government fix unit rates at or near April's price cap and it is for a period longer than 12 months.  No exit fees with Octopus, so in a better position than a lot, depending on whether exit fees are scrapped by suppliers or not.  I cant see suppliers dropping exit fees though.

t0rt0ise

Personally I wouldn't get the heater. It sounds like a poor heater for an extortionate price.

macman

There is no point in using additional electric heating if you have E7. If you have Quantums, you can use the boost on them, but of course it will be charged at peak rate.

Birmanmum

Thank you - it's helped enormously