Fix before or after July 1st CAP changes?

stripling

The information on this is incredibly woolly - including on Martin's podcast (which I just listened to only to find out if he actually spells it out). 

Is it better to look for a fixed energy tariff before or after July 1st price cap changes? I note that in my region (SW) the electricity standing charge is rising by 1.1p and the Kwh price is falling by 2p....  😏

67.21 for the SVR standing charge is outrageous.  The Tracker April 24 tariff is only 2p better for the sc. 

None of this is very encouraging for net zero - unless you have the solar/battery privilege it's not viable to go electric. 

MP1995

It has been asked multiple times over multiple posts from many considering fixes in the last month.

You could read some of those but in summary

It is thought the best fixes are now, once July 1st comes in it is thought the suppliers will be looking at Oct 24 and Jan 25 price caps and they are both expected to be higher than 1st July by all predictions available.

Standing charges has been done to death as well.

The truth us no one knows its best guess and if a fix gives you the stability for financial planning then do it, if you have some flexibility in your budget maybe risk another product or just risk price cap rises.

stripling

@MP1995   said:

It is thought the best fixes are now, once July 1st comes in it is thought the suppliers will be looking at Oct 24 and Jan 25 pride caps and they are both expected to be higher than 1st July by all predictions available.

Thank you.  I'm on the Octopus Tracker tariff but as I'm heading towards getting rid of gas and thus increasing my electric consumption I'm pondering whether to fix electric. 

Yeah, I know it's a guessing game - it's probably better to suck it up on Tracker  - I'm getting off-grid urges like those nutty Americans who disappear into backwoods cabins and go bonkers.  🤦🏻‍♀️😁 

bristolleedsfan

stripling said:

Is it better to look for a fixed energy tariff before or after July 1st price cap changes? I note that in my region (SW) the electricity standing charge is rising by 1.1p and the Kwh price is falling by 2p....  😏

67.21 for the SVR standing charge is outrageous.  The Tracker April 24 tariff is only 2p better for the sc. 

. 

British Gas 14 month fix - SC 59.71p -  U/R 22.488p 

Hoenir

stripling said:

Yeah, I know it's a guessing game - it's probably better to suck it up on Tracker  - I'm getting off-grid urges like those nutty Americans who disappear into backwoods cabins and go bonkers.  🤦🏻‍♀️😁 

They've no shortage of timber though. We cut ours down centuries ago. 

fly-catchers

I went for the BG 14 month fix. The day units are cheaper than the July cap. And the night a bit more but still cheaper than current. With a lower SC. The gas is a bit more than now and July but a lower SC. As i don’t use much gas till late autumn with the boiler those Capped rates will be higher again anyway. So overall seems good to me.