EDF's fixed offer

PennineAcute

Wondering if I should take EDF up on their offer.

Last winter hit me hard and although there is a forecast drop in prices from October, there is also a forecast increase come January.  I am just looking for some security, as an increase on today's prices in January would really hurt me.

My past 12-months usage is 6354 Gas and 2146 Elec and this offer is £15 more than what I am currently paying over 12-months.

I am thinking from the 0.2p increase in gas UP that the forecast January gas increase may not be too bad.  Just wondering what others think.

CSI_Yorkshire

If your main concern is to gain security on unit pricing then a fix is the right idea.

matt_drummer

Under which circumstance would you be most unhappy.

Fix now and find out prices drop 5% in October

or don't fix now and find out in October that fixes are no longer available and prices will double in January.



If there is a clear scenario that would cause you problems then isn't your answer obvious?

You have little to gain and lots to lose by not fixing.

Dolor

The World is anything but stable. Forecasts such as those from Cornwall are based on assumed norms. The real World is subject to shocks. For example, when Putin pulled out of the UN-brokered Ukraine Wheat export deal earlier this week international grain market prices increased by 8.5% in a day! The same thing could happen to gas prices.

It follows that if you want price certainty then a fixed deal is probably the best option. If you can find a supplier that offers you a fixed deal with no exit fees then even better.

dunstonh

Let us not forget that 2022/23 Winter was very mild and that helped save the day.  Had it been a cold winter, the pain would have been far greater.   What is Winter 23/24 going to bring us?

Dolor

dunstonh said:

Let us not forget that 2022/23 Winter was very mild and that helped save the day.  Had it been a cold winter, the pain would have been far greater.   What is Winter 23/24 going to bring us?

Hopefully not this. This was the River Thames in the Winter of 1963.

PennineAcute

Responses appreciated.  I have fixed.