Variable tariff price estimate

Martin_or_reilly

I'm considering switching to a fixed tariff before the price cap increase tomorrow (Oct 1st). The annual estimate, if I stay on my variable tariff (SoEnergy - soFlex), is £1672. The fixed price estimate is £1820. 

Is the variable tariff estimate based on the current price cap or does it take into account potential price cap changes?

Netexporter

It takes the probable prices for the next 12 months. Rates go up for the two winter quarters and down for the summer ones. The premium you pay for a fixed deal is to insure against "events, dear boy, events".

If you actually want to pay less for electricity then the best strategy is to get a smarty meter, if you haven't already got one, and find a TOU (time of use) tariff that suits your lifestyle/consumption pattern.

Scot_39

At EOn for svt  they quote me both current and next quarter rate based annual totals in their price change summaries when issued ahead of cap changes.

But otherwise its maybe going to be current rates for svt.

You should always check not just price totals but unit rates and SC  when comparing deals - some times the annual usage can vary.

EOn when checked in past for instance use different figures than rolling 12m on monthly statements. Maybe a rolling average to smooth out mild winters like last year - when J used 10% fewer kWh.

Get the rates for your svt variable total and compare vs July and Oct rates as issued by Ofgem for your region.

https://www.ofgem.gov.uk/get-energy-price-cap-standing-charges-and-unit-rates-region

la531983

Martin_or_reilly said:

I'm considering switching to a fixed tariff before the price cap increase tomorrow (Oct 1st). The annual estimate, if I stay on my variable tariff (SoEnergy - soFlex), is £1672. The fixed price estimate is £1820. 

Is the variable tariff estimate based on the current price cap or does it take into account potential price cap changes?

You have likely left it far too late, providers arent going to suddenly increase their prices on their fixed rates overnight, the next 12 months will have been priced in to their offerings for a while now.