Energy bills

[TabithaTiger]

I'm currently on a fixed rate with Scottish Power that ends on 30 Jan. They've offered me a new fixed rate for 2 years that will take my monthly payment from £130 to £170. I'm £260 in credit.

I've heard that it's better to not fix and move on to the standard tarif, but how do I work out how much the payment will be? I've heard energy prices are going to keep going up so would I be better to fix now rather than risk paying more in a few months time?

Hoping someone who understands these things will be able to advise - thank you.

They should have told you about their standard variable rate at the same time as offering the fixed rates (well that's what octopus did with me)

The SVR will be reviewed in April

@dementedpixie

They should have told you about their standard variable rate at the same time as offering the fixed rates (well that's what octopus did with me)

The SVR will be reviewed in April

Sorry I mean the price cap that limits the SVR will be reviewed in April

My fixed rate went up in November. I normally go with one of those 'local authority' bulk buy schemes, where lots of people all come together and the Council asks for bids to supply energy...lowest price wins. I've never been able to find a cheaper alternative....however in November the Council told me that they weren't asking for bids, as the prices were looking to be way above the standard rate (which is capped). So I was advised to not Tie myself down to anything and move to a standard rate by default until March 22 at least. I am paying 50% more for gas and electric....but all the "offers" from my provider were double that or more! It felt wrong moving onto a standard rate...but shortly afterwards Martin Lewis advised something similar in his autumn broadcast. Hope that helps.