Next Secure Fixed 12m v4

diyobi

This little bargain popped up today for a fix for 12 months.
An exit fee of £75 per fuel will be applied if you change product or supplier before your tariff end date

Estimate : Annual cost £1,422.33

Electricity: 

Daily standing charge	51.79p

Unit rate	23.74p per kWh

Assumed annual usage	4,106kWh

Gas

Daily standing charge	29.60p

Unit rate	6.32p per kWh

Assumed annual usage	2.384kWh

Seems a no brainer even with the predicted cuts by ofgem and taking into an estimate for October too?

Anyone else get this?

northernstar007

tracker is still a lot cheaper if you have the thirst for a risk

Gerry1

You're using far more electricity than average but far less gas (assuming you meant 2,384kWh).

With electricity about four times the price of gas, that's a very expensive choice !

diyobi

Exactly and lol, that's correct - working from home, etc.

Electricity estimate for the year:- 4106 Kwh
Gas Estimate: 2384 Kwh

Weirdly enough the next pledge tracker 12m v3 comes in higher : £1598.61 for the year

diyobi

northernstar007 said:

tracker is still a lot cheaper if you have the thirst for a risk

Risk is there fella but at the moment it comes in higher
Next Pledge Tracker 12m V3 £1598.61 for the year

Ballymoney

Is it an no brainer? Aren’t gas prices predicted to fall to 5.7p in Q2 and 5.2p in Q3? Elec predicted to fall to 21p in Q3.

Yes you’ll make an immediate saving but will likely be paying more for the remaining 10 months of your fix. 

Surely there will be better fixes in 6 weeks time?

molerat

If the predictions are accurate then tracker would see gas for next winter at around 5p and electric around 21p so no it is not a no brainer. As with all current fixes it purely gives you the security of known prices with no risk of events affecting that.