When to switch energy supplier

Tescocomplaint

I'm looking to change both gas and electricity to a fixed tariff as prices are falling.

I have done a few searches and currently can save some money if I switch. Does anyone know if prices are going to keep falling or is now the best time to lock in a deal? 

debitcardmayhem

Short answer - nobody knows. If you fix go for one with no exit fees

QrizB

debitcardmayhem said:

Short answer - nobody knows. If you fix go for one with no exit fees

And the long answer is the same as the short answer, but longer

Taking a no-exit-fee fix means you can switch a cheaper fix if one turns up.

Bungle73

Are fixed tariff prices actually falling though? I'm on one with OFTM that I signed up to a month ago, and that stayed the same until a few days ago, when a new version was launched, but the difference in cost is minimal (would save me about £10 a year).

Tescocomplaint

Bungle73 said:

Are fixed tariff prices actually falling though? I'm on one with OFTM that I signed up to a month ago, and that stayed the same until a few days ago, when a new version was launched, but the difference in cost is minimal (would save me about £10 a year).

I believe tarrifs are meant to be falling in July but lower tarrifs can be had from June. I have found deals that are about £20 a month cheaper for both. 

Bungle73

Tescocomplaint said:

Bungle73 said:

Are fixed tariff prices actually falling though? I'm on one with OFTM that I signed up to a month ago, and that stayed the same until a few days ago, when a new version was launched, but the difference in cost is minimal (would save me about £10 a year).

I believe tarrifs are meant to be falling in July but lower tarrifs can be had from June. I have found deals that are about £20 a month cheaper for both. 

How do you know they're going to fall? No one knows but energy firms what they're going to do. They could go up, as far as anyone knows.

£20 cheaper than what though?

Tescocomplaint

Bungle73 said:

Tescocomplaint said:

Bungle73 said:

Are fixed tariff prices actually falling though? I'm on one with OFTM that I signed up to a month ago, and that stayed the same until a few days ago, when a new version was launched, but the difference in cost is minimal (would save me about £10 a year).

I believe tarrifs are meant to be falling in July but lower tarrifs can be had from June. I have found deals that are about £20 a month cheaper for both. 

How do you know they're going to fall? No one knows but energy firms what they're going to do. They could go up, as far as anyone knows.

£20 cheaper than what though?

It's been known for some time that tarrifs will fall in July. Cheaper than my current DD.

QrizB

Tescocomplaint said:

It's been known for some time that tarrifs will fall in July.

The Ofgem cap (which only applies to the supplier's default Standard Variable Tariff, SVT) will fall on the 1st of July.

That doesn't mean that fixed tariffs will. Or any other tariffs, for that matter. Those tariffs are commercial decisions for the suppliers and are not affected by the change in the cap.

Tescocomplaint

QrizB said:

Tescocomplaint said:

It's been known for some time that tarrifs will fall in July.

The Ofgem cap (which only applies to the supplier's default Standard Variable Tariff, SVT) will fall on the 1st of July.

That doesn't mean that fixed tariffs will. Or any other tariffs, for that matter. Those tariffs are commercial decisions for the suppliers and are not affected by the change in the cap.

My supplier informed me they would and said to look for reduced prices around June.  Here is an example of the predicted changes:
https://www.moneysavingexpert.com/utilities/are-there-any-cheap-fixed-energy-deals-currently-worth-it/

Bungle73

Tescocomplaint said:

QrizB said:

Tescocomplaint said:

It's been known for some time that tarrifs will fall in July.

The Ofgem cap (which only applies to the supplier's default Standard Variable Tariff, SVT) will fall on the 1st of July.

That doesn't mean that fixed tariffs will. Or any other tariffs, for that matter. Those tariffs are commercial decisions for the suppliers and are not affected by the change in the cap.

My supplier informed me they would and said to look for reduced prices around June.  Here is an example of the predicted changes:
https://www.moneysavingexpert.com/utilities/are-there-any-cheap-fixed-energy-deals-currently-worth-it/

Predicted changes? That’s a list of current tariffs…..

QrizB

Bungle73 said:

Tescocomplaint said:

QrizB said:

Tescocomplaint said:

It's been known for some time that tarrifs will fall in July.

The Ofgem cap (which only applies to the supplier's default Standard Variable Tariff, SVT) will fall on the 1st of July.

That doesn't mean that fixed tariffs will. Or any other tariffs, for that matter. Those tariffs are commercial decisions for the suppliers and are not affected by the change in the cap.

My supplier informed me they would and said to look for reduced prices around June.  Here is an example of the predicted changes:
https://www.moneysavingexpert.com/utilities/are-there-any-cheap-fixed-energy-deals-currently-worth-it/

Predicted changes? That’s a list of current tariffs…..

... and a forecast (a guess) for the next few changes to the Ofgem cap, which (as explained above) doesn't affect fixed tariffs.