On a variable energy rate and no fixed rate prices are currently better. Should I switch (yet)?

freshstew

I am with Rebel on their variable rate and I am getting the following. Yet when I compare plans I cannot find any alternative with a lower unit charge. So should I follow all the advice and get a fixed rate tariff or not?

GAS
6.1 pence per kWh
30 pence per day

ELECTRIC
24.81 pence per kWh
40 pence per day

Dogbyte009

Use the calculator on this site https://www.moneysavingexpert.com/utilities/what-are-the-price-cap-unit-rates-/#epgcalculator to get a rough idea of what you'll be paying in April. Then compare that figure with the available fixes rather than what you're paying now.

Bear in mind that if you wait the price of the fixes will go up too.

Scot_39

It's crystal ball territory.

You need to guesstimate future track of svt - we know next weeks rates for Apr to Jun - but not thd next 3 quarters for tge rest of the year (or 7 for 2 years etc) you will be fixing.

Traditionally fixes weren't for saving money - many 2 yr fixes came with an initial price premium at many large suplliers.  

So goes back to your attitude to risk / optimism / pessimism about global factors
So fix for certainty and stop worrying for 1-2 years.
So fix if worried prices will rise.
Dont fix or fix with zero exit fees if worried prices will fall.  Or with low exit fees if only be worried if prices will fall a lot if it's a notably better deal.

See mse guide on "should I fix"
https://www.moneysavingexpert.com/utilities/are-there-any-cheap-fixed-energy-deals-currently-worth-it/

Edf seems to be the only no risk no exit fee fix as of today's update to article.
But those prices comparisons need to be verified vs your rebel rates as are tabled against svt.
So plug both sets into a calculator for your kWh use.

bob2302

I'm intending to switch my gas from Octopus Tracker to an Octopus fix with no exit fees in a few days. I don't expect to use much gas until autumn, or still be on that tariff next winter, it's just a safety net.

MeteredOut

Dogbyte009 said:

Use the calculator on this site https://www.moneysavingexpert.com/utilities/what-are-the-price-cap-unit-rates-/#epgcalculator to get a rough idea of what you'll be paying in April. Then compare that figure with the available fixes rather than what you're paying now.

Bear in mind that if you wait the price of the fixes will go up too.

Or down.      

Dogbyte009

MeteredOut said:

Or down.      

Unlikely to come down in April. Later in the year maybe but it's about how much you're willing to gamble.

MeteredOut

Dogbyte009 said:

MeteredOut said:

Or down.      

Unlikely to come down in April. Later in the year maybe but it's about how much you're willing to gamble.

Why not? If the market outlook sees prices going down, fix offerings in April could be lower.

Agree its a gamble, but the fact that suppliers have fixes lower than the April SVT indicates to be that the market believes prices will not continue their upward trend over the period of those fixes.