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Price cap confusion
Hi. Apologies for sounding ignorant, but I am a bit confused as to whether I need to switch or not. I am with Octopus currently, and they have been fine. My current tariff runs out in May, and i have been offered a choice of fixed or flexible rate by them. The flexible is currently coming in at slightly under the price I pay now, with the fixed as about £20/month more. I am unsure whether I should switch now or wait until May, or whether to just stay as I am on a flexible rate. I understand that the flexible will be subject to change, but not sure if should wait until May to change, or go with another supplier. I have been with British Gas and EDF before and they were absolutely appalling. As you can see, I don't fully understand what the best thing to do is…
Comments
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if your ondeal to May, is that really flexible - or fixed but will default to flexible.
the current flexible is quite low and expected by many to rise 10-15% plus in July. Mse uses 13.5% from an aver of estinates below
the current mse page on fix deals and advice is here
The list of deals is short - just 3 - and was updated Fri 16th.
theres several other rece t posts with same basic question. Fix now, wait etc ?
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I am on a fixed tariff, they have recommended I go to a fixed 12 month tariff. It is about £20 more than I am paying now, so I guess that would be a good thing to do if the prices are guaranteed to be going up?
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It's not literally guaranteed to rise, but that is the expectation. It doesn't get set/published until late May.
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It seems very unlikely that prices will not increase in July now, I would have thought.
🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
Balance as at 01/09/23 = £115,000.00 at 31/12/23 = £112,000.00
Balance as at 31/08/24 = £105,400.00 at 31/12/24 = £102,500.00
£100k barrier broken 1/4/25
Balance as at 31/08/25 = £ 95,450.00 at 31/12/25 = £ 91,100.00
Balance as at 31/08/26 = £ 84,500.00
SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her0 -
Do you think staying on a flexible tariff would be too risky?
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