Help with fixing energy costs.

[WensleydaleCrumbs]

Any advice would be greatly appreciated!

I'm sending myself into circles thinking about what to do with regards to fixing our energy tariff.

Our current fixed is coming to and end next month, and with hindsight should have fixed a month ago, but due to my indecisiveness, have pondered on it too long!

Our current fixed prices are in the first picture, current flexi offer prices 2nd and our one year fixed offer 3rd.

Do we take the risk of being in flexi or take the hit of fixed incase they increase even more?

Works out around 81% increase from todays prices to fixed for gas and around 84% for electricity.

Any help is most welcome!

Thankyou!

Hey. Hang on - I’m getting you a link…

MSE calculator

I’m with Eon. I fixed a couple of weeks ago. I see they’ve increased prices slightly for new fix but EON were offering best rates for fixes. Pop your info in here 🙂

Thanks so much for putting that on. I too am going round in circles and kicking myself for not fixing sooner. Our supplier want nearly £500 a month from us and that's with our credit taken into account.
according to that calculator, our fix, if we took it, would be 179% more than what we are paying now. It does say we are looking at £11,000 on the figures I put in. Am a little confused now if it means that's on the fix tariff. Maths like this is not my strong point 😖😳

You need to use the variable tariff that you will go onto, not your fixed tariff that is ending to get an accurate result. You can get the variable tariff figures in the calculator itself.

We are On standard tariff now so I put those figures in and the fixed figures, is that right?

@Flamingmentalcats - yes, you’re right - for the first set of figures use the current standard variable rate and for the second set of figures use the fix rates you’ve been offered. The calculator then tells you how much you would pay annually on the new fix and the percentage increase that represents compared to standard variable.

Bear in mind that standard variable rate will be increasing in October with the new Ofgem price cap (to be announced tomorrow). There will be a recommendation at the end of the calculator as to whether the fix you’ve been offered is worth considering taking bearing in mind the expected increases in the standard variable.

Thanks Flouncing, I have done it right then. It said it probably wasn't a good idea to fix at the end. Really wishing I had fixed weeks ago now 😢