Help my very low 2 year deal with ScottishPower is coming to an end

HGF

The really low deal I’ve had with SP for 2 years is coming to an end on 31 December 2023.

It’s Green Fixed December 2023 EM2 so it’s going up big time! I know it’s going to be a huge jump.

Question is should I wait til 31 December before I even look for a switch as nothing is going to touch the sides of this, OR should I begin a switch 1 or 2 weeks before 31 December?

What is there if anything out there at the moment, or should I just go onto ScottishPowers current lowest tariff?

Really confused about when I should cut and where I should go as I’ve done comparisons and there seems to be very little out there.

MultiFuelBurner

What rates are you paying standing charge and kWh?

There isn't much out there in the way of fixes.

Do you have smart meters? If so some good time of use or the tracker tariff could work out well.

Are you just electric or gas and electric? Economy 7?

MultiFuelBurner

As for you switching question you may have exit fees unless you are 49 days or less til the fix ends then you can switch without penalty. But sounds like you have a good deal that you would stay with until the end.

HGF

MultiFuelBurner said:

What rates are you paying standing charge and kWh?

There isn't much out there in the way of fixes.

Do you have smart meters? If so some good time of use or the tracker tariff could work out well.

Are you just electric or gas and electric? Economy 7?

Gas 5.8p SC 21.99p
Elec 23.32p SC 20.74p
no exit fees, normal gas and electric no E77

QrizB

HGF said:

MultiFuelBurner said:

What rates are you paying standing charge and kWh?
There isn't much out there in the way of fixes.
Do you have smart meters? If so some good time of use or the tracker tariff could work out well.
Are you just electric or gas and electric? Economy 7?

Gas 5.8p SC 21.99p
Elec 23.32p SC 20.74p
no exit fees, normal gas and electric no E77

 I'd suggest you just wait until the fix ends, roll onto sP's SVT and then look to see what's available.

Veteransaver

HGF said:

MultiFuelBurner said:

What rates are you paying standing charge and kWh?

There isn't much out there in the way of fixes.

Do you have smart meters? If so some good time of use or the tracker tariff could work out well.

Are you just electric or gas and electric? Economy 7?

Gas 5.8p SC 21.99p
Elec 23.32p SC 20.74p
no exit fees, normal gas and electric no E77

Octopus tracker is generally cheaper than those rates you have currently, though it does change daily so comes with a slight risk, but you can move off tracker fairly quickly and on to their standard rate (which is at the price cap level).
Electric has been as low as about 14p in recent months and don't think it's been higher than 25p. Gas has been around the 4-5.5p range for months.
I think you need a smart meter though for both gas and electric to use octopus tracker as it requires daily readings.
 

PennineAcute

Veteransaver said:

HGF said:

MultiFuelBurner said:

What rates are you paying standing charge and kWh?

There isn't much out there in the way of fixes.

Do you have smart meters? If so some good time of use or the tracker tariff could work out well.

Are you just electric or gas and electric? Economy 7?

Gas 5.8p SC 21.99p
Elec 23.32p SC 20.74p
no exit fees, normal gas and electric no E77

Octopus tracker is generally cheaper than those rates you have currently, though it does change daily so comes with a slight risk, but you can move off tracker fairly quickly and on to their standard rate (which is at the price cap level).
Electric has been as low as about 14p in recent months and don't think it's been higher than 25p. Gas has been around the 4-5.5p range for months.
I think you need a smart meter though for both gas and electric to use octopus tracker as it requires daily readings.
 

The standing charges will be much greater on tracker.  Gas around 27p and electricity around 41p.