Fix the energy tariff now before the Oct raise or stay on standard variable

[SophieHasOneQuestion]

Hi everyone,
Hope you guys can give me some advice.
Currently I am with EDF and on standard variable and unit rate is: 29.64p per kWh. On the 2 year fixed deal, the new unit rate is 40.05p per kWh.
Standing charge remains the same.
I am not sure if I should fix the tariff now as it already increased by £18/month since last week.

Any suggestion is welcome.

Thank you so much in advance.

Martin Lewis web site Moneysavingexpert.com tries to answer this question.

I wouldnt fix. There is a fantastic group on facebook called Energy support and advice Uk who can work out your bills for you and offer genuine guidance well worth a look.

Wouldn't matter for me I can't afford it either way so unfortunately they won't be getting paid.

Here is the link to latest advice from Martin Lewis.

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

Pretty good read but basically looks as though best tariffs are reserved for existing customers.

Octopus wasn’t worth me fixing - current Dd payment is £150- last bill was £110, already £300 in credit, the fix was £250 a month. I could load that extra money onto my acc myself and still pay less for the next 4 months.

Octopus wasn’t worth me fixing

I’ve just done the sums and come to the same conclusion.

This is super interesting.
My current DD is £138. and my last month's bill is £68. Fair enough it is summer, but shall I fix my DD to £170 by sign it new deal?

I have a smart meter and don't know what difference would it make when it comes to decide my DD amount.

Can anyone please shed a light...Thank you so much.

our BG fix (from 1/7) for electric is 36.75p per kwh + 54p per day standing charge.
They only offered a 1 yr fix.

oh, and Gas is 10.5p and 31p standing charge.

@HannahSternDefoe - Do you think 36.75 per kwh is a good deal? Mine is 40.05, which is not far from yours. Can fix that for two years.

Thank you.

I think we'd probably have taken 40 over 2 yrs. It's only 10% more and inflation is already running at that rate.
Our old fix was 17.6p 😱😭

Also with edf and been sticking my head in the sand but with recent news I know I need to get my act together but don't know where to start, how to know whether to fix or not and I'm kinda terrified of contacting edf!

Like op would very much appreciate advice and guidance from those more knowledgeable

Last gas meter reading taken 3/4/22 and was submitted to them

Last electric taken 9/5/22 and not submitted

I'm terrified and don't know what to do

Happy to supply the few readings I have if it will help

I've fixed for 12 months with British Gas, prices are set to rise again in Oct and then probably again in Jan. Yes we pay slightly more for the next few months but it's summer and we have super low usage now. When we start using more in Oct we will be fixed at a lower rate than the price rise.