When to switch tarrif?

dasachmo

Hi everyone. 
Just been reading the Ci predictions on price cap reduction and the post Martin did on the government reductions in cost. 

We're on a ecotricity tarrif due to end on the 20 th of Feb and already the fixes are showing a 5% reduction. Is it worth switching now or sticking on a variable to see if prices drop further? Do providers already price in the possible drop? 

Also, it's less the 50 days but theyre still showing a exit fee for switching. 

MWT

dasachmo said:

Also, it's less the 50 days but theyre still showing a exit fee for switching. 

It is 49 days rather than 50 so you are only just inside that window now, check again and see if it still shows a penalty.

Generally fixed price tariffs are more affected by the current price of future energy contracts than by any predicted changes in the Ofgem cap pricing. Waiting or not is always a guess, but right now you are in the highest cost period for heating so if there is a saving to be made you might be better off changing now rather than waiting. It is always a gamble...

vic_sf49

Or switch to a fixed tariff that has zero exit fees. Then you can switch again, if the price drops. 

Scot_39

Ask your intended supplier what they plan or have done with Apr Eco and RO cuts as announced by budget to fix prices

Or ride svt for 5-6 weeks and see.  The additional costs of svt over fixes really isnt that huge over a number of weeks even winter weeks.

And if like last year my heating was on low for bits of Feb and Mar.

Unless your even more worried about geopolitics now and want security.