Fix or not?

Lady0fdragons

I am with BG and with the January price cap increase do I jump onto a fixed rate before hand? I have an email that says if there’s a better deal later I can change for free but they have exit fees if I was to change company. 

I had a quick read on the fix or not fix that’s written on the site but it’s very confusing to me. It crystal ball predicts an increase and drops to the same price it is now in a years time so does that mean it’s worth a fix? 

I’m not sure how different the rates are at different companies either as they’ve all been equal for a while so I guess that’s another thing to look at before fixing or not! 

Helppppp 

[Deleted User]

Hi,

you might be too late, Ofgem to announce today, so expect new fixes to appear soon.

spot1034

frugalmacdugal said:

Hi,

you might be too late, Ofgem to announce today, so expect new fixes to appear soon.

There's no reason to think that the issue of fixed rate tariffs is in any way governed by the release of news of a change in the price cap. What has been announced this morning is not a surprise and will have been known about (roughly speaking, not the exact figures) for some time.

Lady0fdragons

They rise in January. They don’t announce and increase they same day. 

MattMattMattUK

From the fixes I can see, they are all already above the January cap prices. 

Lady0fdragons

Yeah reading the price cap post today the fixed rates are all above it so I guess it’s cheaper to stay variable on BG  

Spoonie_Turtle

Lady0fdragons said:

Yeah reading the price cap post today the fixed rates are all above it so I guess it’s cheaper to stay variable on BG  

Or look at smart tariffs.  Octopus Tracker in particular only requires keeping an eye on the price, no particular load shifting.