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Should I fix my energy and abandon cheaper fix im on?

housebuyer143 · 2026-03-03 07:29:37

I have a fixed tariff until July 26 with BG and with the news about global gas prices rising 43% - I am questioning whether it's worth agreeing a new fix now at £7 more a month, fixed until March 27. Is the consensus that the energy cap is going to go sky high now? Is that additional £50 I'll lose by moving my fix now…

Comments

EssexHebridean Posts: 25,935 Forumite

6 March at 10:49AM

it is way too soon for any predictions for the July cap to be in any way accurate - we’re a fortnight into the assessment period with well over 2 months still to run. Sure the current events will have a bearing on what happens in July, but the possibilities of the outcome are still wildly unpredictable. If it “all blows over” then it will have a far lower impact than if it either rumbles on, or - worse - escalates. Right now it is still in the realms of crystal ball gazing - and anyone making a prediction about it should be underlining that fact.

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Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
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Balance as at 31/08/25 = £ 95,450.00. Balance as at 31/12/25 = £ 91,100.00

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