Is it worth looking for cheap electricity deals anymore?

frankiesowner

My fixed electricity contract with BG has come to an end and is continuing at their standard variable tariff.  My question is whether it is worth looking for cheaper suppliers or even fixed contracts given the world wide energy issues and that the capped energy prices apply to all suppliers?

pochase

It is always worth it to look for cheaper deals, you just won't find any at the moment or for the last year.

As you have written yourself the SVT is the same for all suppliers, and nobody offers fixed rates.

Mstty

If you have a smart meter you could look at some time of use tariffs being offered. Or waiting lists for other beta live price tariffs.

Do you have a smart meter?

diystarter7

Hi OP

I don't think there is anything different re standard rates aTM

not sure re smart meter offers if any

I'm not sure if you have read this ie link below, but should help you see where prices may be heading

https://www.moneysavingexpert.com/utilities/energy-price-guarantee/

Good luck

dealyboy

Hi OP ...
If you have Economy 7 (aka Eco 7, E7) you may have some options.

Otherwise keep monitoring comparison sites and quotes from supplier websites, I think things should start to move in a couple of months time.

EssexHebridean

dealyboy said:

Hi OP ...
If you have Economy 7 (aka Eco 7, E7) you may have some options.

Otherwise keep monitoring comparison sites and quotes from supplier websites, I think things should start to move in a couple of months time.

Yes, This ^

As the OP mentioned an electricity fix, not a dual fuel one, this could be relevant. 

And otherwise as already mentioned there are various smart meter options from some suppliers which may be worth a look. 

frankiesowner

Thanks for the replies.  I am one of those who are 'wary' of the smart meter options but as you say it may be the way to go.  Will keep a watch, but as dealyboy says I suspect things will start to move nearer the summer when the demand starts to ease off....

littleteapot

As others have already said, if you are on E7 (for storage heaters and immersion heaters for example) or you have an EV to charge overnight there are HUGE variations in the day/night split between vendors. At the moment EDF is by far the cheapest for night rate so if you do or can shift a lot of your usage to off peak hours you could save a lot of money.

Scot_39

frankiesowner said:

My fixed electricity contract with BG has come to an end and is continuing at their standard variable tariff.  My question is whether it is worth looking for cheaper suppliers or even fixed contracts given the world wide energy issues and that the capped energy prices apply to all suppliers?

Unless your on E7 for electric - probably not - as all SR deals are set by EPG.

(Although their are the wholesale pricing Octupus Flex type deals)

As you said BG - not sure that would apply - as they seem to be regularly slammed here for a bit of a mess with E7 and Smart metering. Not sure of current situation.

macman

Why are you 'wary' of smart meter options? You don't have to pick a TOU tariff just because you have smart meters.

pearl123

frankiesowner said:

I am one of those who are 'wary' of the smart meter options but as you say it may be the way to go.  

I was reluctant to get a smart meter. I had mine fitted in the new year. I love it. I wouldn't be without  it now.