First time Switcher - Which do I go for

Sparky566

Hi,

I would appreciate some help in helping me pick a tariff that would be good for me. The tools and info is great but I am still confused.

MarzipanCrumble

Hi Welcome to this Board.

Firstly there is a much wider selection of different types of tarrif which can be quite overwhelming when looking at a comparison site. And confusing!

You need to be clear what type of tarrif you want. Electricty only, gas and electricity, electricity with night storage heating, etc. Then do you want a fixed tarrif or a variable to the Price Cap which is 'fixed' 5% under the Price Cap Tarrif (probably not). For how long? 12 months, 18 months, 24 months. Do you have an idea of how much electricity and gas you use in kwh - look at your last bill as your supplier should give you their estimate.

I would have a read of this updated 2nd Oct:

https://www.moneysavingexpert.com/utilities/are-there-any-cheap-fixed-energy-deals-currently-worth-it/

Do get back to this forum if you have any questions - there are some very helpful and knowledgeable people on here.

(I only have electricity and gas - no night storage heaters, no ev, solar panels. I am on a 12 month fix with EON Next which I fixed beginning of September after procrastinating to my cost over Trump and his vanity war with Iran which sent up the cost of both fuels. I used a couple of comparison sites to find that fix as comparison sites do vary in cost of deals from same Company - so worth checking.)

Sparky566

I did read around but still not clear. I figured maybe going to Dual fuel 12 month fixed, kinda the middle ground. I thought anything is better staying on my current variable ? (which I haven't changed in years).

This is what I am currently on

And this is what came out of the energy club ( I avoided Home, because I have never heard of them)

MarzipanCrumble

OK

You are on a standard variable rate (SVR) (I think) which is expected to rise by 20% in January.

Your supplier has given you its estimate of your annual usage in kwh (elect = 3023 kwh; gas = 13774 kwh). Remember this is an educated guesstimate of annual usage based on submitted meter readings hopefully. Obviously you may use more kwh or less kwh over a 12 month period.

When using any comparison site it will give you a choice of entering usage in money or kwh. Go for kwh.

The EON Next 12 month fix will seem not much different to your current SVR. But the amount charged per kwh of fuel used is fixed for 12 months and won't be going up 20% in January.

You may want to look at a 18 or 24 month fix because although probably a little dearer than the 12 month fix it will take you over 2 winters.

Sparky566

Thanks, your reply makes it much easier to understand

timdiecast

I think you may be too late for that particular fixed rate, but I agree with the above.

Also bare in mind that you have 14 days to cancel if you think you've made the wrong decision (or a better deal comes along).

Stevie1

https://forums.moneysavingexpert.com/discussion/comment/82162113#Comment_82162113

Would it not be wise(er), considering the lack of decent current fixes, to fix for 12 month with low(ish) early exit fees as potentially next summer would see lower than now fixed prices as prices usually drop? Crystal-ball thinking I know.

MarzipanCrumble

OP - it is not easy because none of us have a crystal ball. As I said, I put off switching for weeks - but I knew unit (per kwh) prices for gas and elecricity would rise, so I jumped onto a fix with a Direct Debit cost per month I was happy with.

If you use less you build up credit to cushion you through winter. As you are new - utility companies do not allow you to go into debt (tell them immediately if you are having difficulties paying because then they can help).

If you are not happy to build up credit with the utility company you go with, then usually you can pay for exactly what you use each month. However you may need to phone them to achieve this.

Best of luck.