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1st July Price Cap Reduction
GadgetGuru
Posts: 907 Forumite
in Energy
Has the price cap reduction for the 1st July already reflected in energy prices?
Wasnt sure as when I do a comparison the daily prices have gone up a fair bit, but the unit prices are now lower - is that how it works??
Im currently on EON and my fixed is coming to an end. My current rates are:
Elec Unit : 30.88
Elec Daily : 32.15
Gas Unit : 7.39
Gas Daily : 23.08
Elec Usage : 2,744kWh
Gas Usage : 9,268kWh
When I last check, Octopus were coming up cheaper, even though the daily rate is higher, the unit rate is lower....
I've been waiting for 1st July for the price decreases before I choose to fix again for another 12 months due to the forecast potential Oct increase.
However, have the price decreases already been factored in, and should I be choosing another deal pre-1st July?
I dont want to get to 1st July and see that the Oct increases are starting to be factored in??
Or have I got this totally wrong?
Wasnt sure as when I do a comparison the daily prices have gone up a fair bit, but the unit prices are now lower - is that how it works??
Im currently on EON and my fixed is coming to an end. My current rates are:
Elec Unit : 30.88
Elec Daily : 32.15
Gas Unit : 7.39
Gas Daily : 23.08
Elec Usage : 2,744kWh
Gas Usage : 9,268kWh
When I last check, Octopus were coming up cheaper, even though the daily rate is higher, the unit rate is lower....
I've been waiting for 1st July for the price decreases before I choose to fix again for another 12 months due to the forecast potential Oct increase.
However, have the price decreases already been factored in, and should I be choosing another deal pre-1st July?
I dont want to get to 1st July and see that the Oct increases are starting to be factored in??
Or have I got this totally wrong?
0
Comments
-
Fixes are not affected by impending price cap changes. There is presently a trend towards higher prices for fixed rate deals because longer term wholesale rates have been rising recently. If this continues, fixes in a month or two will be higher than they are now. If wholesale rates start to ease a bit, you might get a slightly better deal by waiting. The decision is yours.0
-
Thank you - decided to do some comparisons and found a decent deal so decided to switch.
I do prefer fixed most of the time TBH so went for that again - saving me £300 over the year (around £25 on my monthly DD payments).0
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