Fix / Cap or do nothing

Scruffy_Meee

I am currently with Utility Warehouse Value plan, I have just had a look at the Energy Tariffs section of the main web site and still can work out if I should fix  / cap or do nothing.  I live in a 4 bed house, current bill is £120 electric & £106 gas  + vat.

Looking at the tariffs if I do fix either Ovo or EDF1 year fixed seem to be the best options..

Just wondering what the general consensus is on fixed Vs capped? 

Scot_39

By prices, did you mean fix vs svt as this guidance

https://www.moneysavingexpert.com/utilities/are-there-any-cheap-fixed-energy-deals-currently-worth-it/


There is no right or wrong answer  - people's attitude to risk and fixing varies.

Caps - assuming you mean a cap tracker - are a guaranteed saving on svt, but not vs fixes, and absolute vs rates etc means your actual usage matters too.

So cap trackers like pledge etc will still go up pro rata with ofgem cap so (1717-1568  = 149) on Monday.  But may rise again if Jan higher than Oct as last year, and may fall should prices fall as say last Apr and Jul.  You might have to actively quit a fix to get lower prices - so exit fees an issue.

I suspect for many a zero or low exit fee fix might win over winter months - and then jump ship if prices fall.  But it's all crystal ball gazing - we only know Oct-Dec cap.