Fix end Sep 23

cook0891

Hi all. After some advice please. My 2 year fox with eon next ends beginning of September. I know my prices are going to rocket as got lucky fixing Sep 21 just before increases. 

My question is; is it worth me fixing in Sep, or going onto variable for a month as I believe a new price cap is due Oct 23 and prices might be lower? 

I appreciate no crystal ball but just wondered what people thought, or if anyone had similar experiences from previous price caps during last few months. 

Thanks 😊 

spot1034

Whilst the price cap might drop a little in October, wholesale prices for the next period (January to March) are looking much firmer and I think that if these persist we will certainly see an increase again come January. Obviously the nearer we get to that date any fixes that come along will tend to reflect this. However as you say it's still a bit of a guessing game at present. 

cook0891

Thanks. What I was trying to ask was if people think worth fixing in September when my deal ends or waiting and having a month on variable and then fixing in October when new price cap is announced? 

matt_drummer

cook0891 said:

Thanks. What I was trying to ask was if people think worth fixing in September when my deal ends or waiting and having a month on variable and then fixing in October when new price cap is announced? 

What if the fix isn't available then?

What if the fix is at a higher rate then than it is now?

What have you got to gain by not fixing now? A few pence, a few pounds?

What could you potentially lose by not fixing now?

These are questions only you can answer.

Then make a decision based on your attitude to risk.

Not fixing now will save you very little, prices are unlikely to fall much.

There is more chance of prices rising by more than they are ever likely to drop by.

Its your bill and your life, it's a rather simple choice, why do you need input from strangers on the internet?

cook0891

matt_drummer said:

cook0891 said:

Thanks. What I was trying to ask was if people think worth fixing in September when my deal ends or waiting and having a month on variable and then fixing in October when new price cap is announced? 

What if the fix isn't available then?

What if the fix is at a higher rate then than it is now?

What have you got to gain by not fixing now? A few pence, a few pounds?

What could you potentially lose by not fixing now?

These are questions only you can answer.

Then make a decision based on your attitude to risk.

Not fixing now will save you very little, prices are unlikely to fall much.

There is more chance of prices rising by more than they are ever likely to drop by.

Its your bill and your life, it's a rather simple choice, why do you need input from strangers on the internet?

Thanks, really helpful 👍

matt_drummer

All you have to decide is what would upset you more.

Get to October and find energy prices are 5% lower

or get to October and find that prices had doubled?


Little to gain by not fixing, potentially lots to lose.

If you like some certainty, fix.

CSI_Yorkshire

cook0891 said:

Thanks. What I was trying to ask was if people think worth fixing in September when my deal ends or waiting and having a month on variable and then fixing in October when new price cap is announced? 

The October price cap announcement is unlikely to have a massive effect on the range of fixed tariffs on offer.

Both might be based on similar wholesale price tracking, but there's no reason for a supplier to wait until the price cap to decide what their fixes will be.

matt_drummer

CSI_Yorkshire said:

cook0891 said:

Thanks. What I was trying to ask was if people think worth fixing in September when my deal ends or waiting and having a month on variable and then fixing in October when new price cap is announced? 

The October price cap announcement is unlikely to have a massive effect on the range of fixed tariffs on offer.

Both might be based on similar wholesale price tracking, but there's no reason for a supplier to wait until the price cap to decide what their fixes will be.

Yes, unlikely to change much.

Little to no possibility that energy prices will fall by a significant amount.

The only uncertainty is world events, who knows what might happen.

Something bad could have a much bigger effect on energy prices in the upward direction.

The big risk is that prices could rise a lot.

A fix at this time is sensible unless you like a gamble for fairly small returns.


This is only my opinion of course!

cook0891

Thanks everyone. Think I will fix when the time comes. Built up £500 credit which know will soon go as on a very good tariff now. 

jbuchanangb

E.ON will probably offer you a new fixed tariff. If/when you accept it, they will bring it into effect when the existing one expires. On 18 May I was offered a new fixed tariff, when my current one was due to expire on 2 July. I accepted and was duly changed over on 2 July.

cook0891

jbuchanangb said:

E.ON will probably offer you a new fixed tariff. If/when you accept it, they will bring it into effect when the existing one expires. On 18 May I was offered a new fixed tariff, when my current one was due to expire on 2 July. I accepted and was duly changed over on 2 July.

Thanks. Will have a quick search around next few weeks and then make a decision. If nothing much between deals will stick with Eon.