whether to switch?

allopinionswelcome

I am a new member.

I have a fixed deal with British Gas which ends in August. I am concerned that come August, variable deals will be sky high given current events, and that no decent fixed deals will be available.

So i was wondering whether to switch to another fixed deals now? There is a £100 exit fee.

I have electricity (E7) and gas, although the gas supply has been capped off because I have no gas appliances.

Ifanyone have any thoughts on this, it would be so much appreciated

Alnat1

You would need to ask Madame Zaza to look in her crystal ball I think.

Nobody knows what the situation will be in August except to say SVT is most likely to rise in July because it's calculated from the prices in the proceeding few months.

Fixes, the few that are available now, are changing (upwards) on a daily basis at the moment and will only begin to fall if the situation improves. SVT will not fall until 3 months after normal service resumes.

Either choice, staying on your current Fix or opting for a new one now is a gamble. Only advice I would offer, if you are going to change, do it soon. Toss a coin and leave it to fate?

Woodstok2000

What's your average monthly usage in kwh, and your current rate unit cost for electricity.

allopinionswelcome

unit cost for day is 29.63, night 13.18. standing charge 49.27 day. not sure how to find usage but i pay overall about 139 a month but am slightly in credit