Aibu to ask about your energy provider?

[Namechangeforthisone497]

I understand that the prices are rising. My tariff ends next week and I currently pay £97 a month. They have offered me a new tariff fixed for one year of £161 a month. This seems like a huge rise but I have no idea if I should go with the fixed tariff or just just go with the standard variable (I think it's called) I use to be on meter before changing last year so this is all pretty new to me. I am with Scottish Power at the moment.

The current advice is to go onto the standard variable rate as it is significantly cheaper than any fixed rate. Your energy provider will try to get you to take a new fixed rate as they are losing money for people on the standard variable rate.

Here's Martin Lewis on the subject - it's from October but his advice hasn't yet changed : www.moneysavingexpert.com/news/2021/10/martin-lewis---do-nothing--with-your-energy-supplier/

Thank you so much for this! I will stick with standard variable when it comes to an end then

I think there's needs to be a new topic for this, I'm sure I see this thread most days. There could be a sticky at the top saying in the style of Martin Lewis Go. On. The. Variable. Rate

At the very least compare the fixed deal being offered by your provider to their standard variable rate. They might be offering a reasonable fix for loyal customers (maybe unlikely, but worth 5 mins of your time to check).

Bare in mind that the price cap will be going up again in April (I think) next year.

@Chasingsquirrels

At the very least compare the fixed deal being offered by your provider to their standard variable rate. They might be offering a reasonable fix for loyal customers (maybe unlikely, but worth 5 mins of your time to check).

Bare in mind that the price cap will be going up again in April (I think) next year.

There are no fixed rates below the standard variable rates anywhere for any supplier. Of course you can check but if Martin Lewis can't find one I'm not spending any of my time on it

Fair enough, but that's checking on an open market basis - not on what an existing supplier has offered their customer.

Given the prices quoted in the OP it doesn't seem like much of a jump to me, and if I could fix now at something in line with the SV then I would.

And I'd spend 5 mins of my time checking that out, rather than relying on an internet forum.

I did make the point in my post that it would be unlikely, but I'd still spend that time.

And I'd check the rates (standing charge and unit price) not just the monthly payment they quote.