Tariff ending & at a loss what to do.

JP077

I’m at a bit of a loss as to what the best next step is. I’m on Octopus Money Saving 10 month fixed which ends on 9 August. With the July cap I’m really most sure whether I should switch now or hold off and see if any deals come up. Switching would look like Fuse is my best option. My useage is 25491kw and 4549kw annually.

Use MSE is be looking at about £150 annual increase jumping to Fuse.

Newbie_John

Can you switch penalty free? Is Fuse also penalty free to switch? The prediction is to raise again in October.. but the market is very chaotic and goes up and down with every Trumps tweet. If you switch you protect yourself from any drastic increases - so it's really up to you to decide if £150 is worth it.

If you really use 25k kWh then I'd say it's worth it.

TroubledTarts

For your energy use(high) an extra £150 doesn't appear to be a bad deal

AlvyLad

I do have a habit of going with smaller, newer suppliers, that doesn't have "entrapment" as for exiting, in case I'd decide to…

Differences price ways with or without "fixed" / "variable-fixed"(NOT FIXED) are truly minor, so having no exit fee criteria I'd make my choice by. (Not Fuse unfortunately)

molerat

Fuse charge £50 exit per fuel and probably £30 for an internal switch.

AlvyLad

www.moneysavingexpert.com/utilities/cheapenergyclub/results

(need to punch in all the bits and bobs), then at a result page, on the right, click on [All Filters] , then scroll down to [No exit fees], so, even if it doesn't work out, you can switch again, to something, that would suit you better

Newbie_John

Also it could be time to consider some of the ToU tarriffs like Octopus Agile and EDF FreePhase Dynamic - for example tomorrow they have free electricity tomorrow from 8-16 (or negative prices with Agile).

For the last 6 months on average the rates were 40% cheaper for 21/24 hours per day:

No exit fees - it's my default tarrif if I can't decide.