I am currently with OVO, pay £75 pr month for gas and electricity, currently on a Simple plan ie variable, is it worth swtitching to a one or two years fixed rate, cheers
I wish mine was only £75/month!! What offers are available to you in comparison to what you’re paying currently?
Cheers, I am just tight with the heating lol Free boiler service but it was more is it worth locking in to a fixed rate rather than variable, I can't really see prices dropping in the near future really
You decide. No one has a crystal ball tbf. It's what you're comfortable with. I fixed on a cheaper rate than I was paying 2 days prior the energy cap change. ------------------ Whether a fixed or variable energy rate is better depends on your circumstances, such as your attitude to risk and whether you think energy prices will go up or down: Fixed rate Offers certainty over prices, which can help you plan your budget. Fixed rate tariffs are often some of the cheapest deals. However, you'll usually be tied in for at least a year and will need to pay fees if you want to exit the deal. When your fixed contract ends, you'll automatically be put on your supplier's default variable tariff. Variable rate Allows you to leave your supplier any time you want without paying any fees. However, prices can fluctuate depending on the wholesale market. It may be more expensive than fixed tariffs, especially in times of high wholesale energy prices. In current market conditions, it's difficult to say whether switching to a fixed energy deal will save you money. Prices are still fluctuating, and being locked in a fixed rate might cause you to miss out on savings, should prices fall.
Cheers all, based on the figures in Jay's article I will probably be better on a variable rate for the mo...
