Are you going to Fix your Tariff?


Prices have been rising. Who can predict the future…

The latest fixed rate is currently more expensive than the variable rate tariff. Is it worth fixing at the higher rate now, to avoid bigger rises over 12 months?


42 replies

Who can explain why my poll didn’t work! 😩

Just vote in the comments maybe?

Userlevel 7
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I’ve stuck with the variable throughout, never been on a fixed with PP. 

I switched my parents to the fixed last June as it made absolute sense, but from June this year, they’re going back to the variable 👍

Userlevel 7
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I did look around for the polly our Notes bless 👀🤣

Grrr, I hate annoying tech!

My contract expires in July. At present I expect I will revert to the variable tariff and see what happens.

Userlevel 7
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I am probably edging towards the variable tariff with 30 ish days left of fixed 😬😬. 

Userlevel 7
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 -.. .. - - ---

Hmmm, interesting… I am tempted to go fixed again as prices are on the up up up. 

Userlevel 7
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I'm on the fixed til the middle of June.  Like you @25 quid variable is  cheapest for me at present  time, as soon as prices change I'll review my options again.  The fix we were on was a good deal, I think we've benefited.

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I am in the same position Scubaseahorse, that’s why I am edging towards variable at the moment. 👍👍

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Here are some figures from my spreadsheet. 

The percentages quoted are how much more or less based on average of all areas, and on Ofgem TDV medium (12000 gas 2900 elec.), the fixed tariffs are. (figures for any area and consumption are available) 

 

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Tks @woz  -  interesting. 

Userlevel 7
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Here are some figures from my spreadsheet. 

The percentages quoted are how much more or less based on average of all areas, and on Ofgem TDV medium (12000 gas 2900 elec.), the fixed tariffs are. (figures for any area and consumption are available) 

 

 Cheers Woz, helpful 👍

Interesting @woz, my quote works out at 4.5% more expensive to fix. So over the course of the next year I would likely save as I’ll be protected from the forthcoming even bigger rises. 

It seems I should have jumped on the 15th Apr when I was first invited to fix again… 🤔

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Oh @25 quid  now you're making me think I should  fix!!!

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Interesting @woz, my quote works out at 4.5% more expensive to fix. So over the course of the next year I would likely save as I’ll be protected from the forthcoming even bigger rises. 

It seems I should have jumped on the 15th Apr when I was first invited to fix again… 🤔

@25 quid 

yep, the retrospectoscope always gives a clear picture

 unless you have a crystal ball...(or two) it’s just a gamble 

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Very true

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One of the many things to consider, and it's a gamble whatever you do, is that if you decide to change a fixed tariff too early then you are likely to go onto the more expensive rate almost immediately rather than if you let  the cheaper tariff run to expiry, but, in the interim prices could rise yet again

Userlevel 7
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Yes @Duppy you are right, that's why I thought I'd go with the variable for now and do a 'quick fix' if we get word that the prices are due to ho up 

Fixed last year, will probably fix again at renewal time in July/August.

 

Interesting @woz, my quote works out at 4.5% more expensive to fix. So over the course of the next year I would likely save as I’ll be protected from the forthcoming even bigger rises. 

It seems I should have jumped on the 15th Apr when I was first invited to fix again… 🤔

@25 quid

yep, the retrospectoscope always gives a clear picture

 unless you have a crystal ball...(or two) it’s just a gamble 

I’ve often used the phrase 20/20 retrospectoscope. Sounds like something Wallace and Gromit might use!

Userlevel 7
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One of the many things to consider, and it's a gamble whatever you do, is that if you decide to change a fixed tariff too early then you are likely to go onto the more expensive rate almost immediately rather than if you let  the cheaper tariff run to expiry, but, in the interim prices could rise yet again

@Duppy I’m not sure I understand your comment because..

If your fixed tariff is coming to an end (<50 days) and you choose a fix that’s offered at the time surely it wouldn’t kick in until the end date of the current tariff? That’s how it works with other energy companies, I know because I just fixed my neighbours tariff and that is exactly how it worked in that case (nor PP). If in the meanwhile a cheaper fix becomes available when the new fix hasn’t started you can still change your mind, that is exactly what happened with my neighbour. ( however if the later fix is more expensive you will still get the one you chose) 

What I am unsure of is whether the 14 day cooling off period applies once you get to the switch date. Does anyone know for sure?

 

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Hi @woz , not having done this with PP yet, I'm not sure how it will work, I'm only going by when I continued a contract for broadband the new contract started straight away

Userlevel 7
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Hi @woz @Duppy 

This is an important point, isn't it? I had assumed it would change as soon as you choose your option, and was a bit miffed to be getting so many reminders over a month before the current contract ends.…

Regards

Stephen

 

Userlevel 7
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My fix is coming to and end ......dunno what to do

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