Energy Tariff and fixing - when should I do it?

Listless_2

I’m on a fixed energy tariff with Octopus from last year which expires on July 4th this year. Should I be locking a fixed tariff before the 1st of April to ensure I can get a better deal before the price cap increase even if this means I will spend 3 months on a higher tariff than I am currently? 

I have never really cared this much but my new house is costing a lot more to heat and as such I expect my bills will increase quite substantially once I come off my current tariff so I’m already worrying about next winter…

Got to love the UK…when staying warm becomes a luxury for working families…

spot1034

The price of fixed tariffs is not going to change just because a new price cap kicks in. 

At the moment, wholesale prices have fallen quite sharply in recent weeks, whereas the new price cap will reflect the period mostly before this fall. If the present trend continues it looks as if the price cap will fall again in July. If I were you I'd enjoy the cheaper prices your present deal offers and look at what is available when it's nearer to finishing. 

bristolleedsfan

spot1034 said:

The price of fixed tariffs is not going to change just because a new price cap kicks in. 

Fixed tariffs are likely to be launched reflecting lower standing charges in some regions due to lower transmission costs, possible higher unit rates which will benefit lower users, be negative to higher users.

Ildhund

You might add "Fixed tariffs are likely to be launched reflecting higher standing charges to cover the cost of the expanded Warm Home Discount scheme."  

Listless_2

So, I wait until July? Won’t that mean the only tariffs I can take are based on the new price cap?

QrizB

Listless_2 said:

So, I wait until July? Won’t that mean the only tariffs I can take are based on the new price cap?

Fixed tariffs aren't directly linked to the price cap.