Impossible to guess, but if the energy companies are offering fixes it means they expect they can make a profit off them not a loss.
This was MSE predictions back in September. While maybe once the July cap has been announced could be the best time I’m sure companies have already accounted for these price changes.
It’s the standing charges they need to sort out
The fixed rates I've been looking at over the last 2 months have not been great tbh
I'm always suspicious of energy companies and EDF sent me an email the other day saying I could fix now for 1 or 3 years at a price list than the January price cap. The first thing I thought was "that must mean they know the price cap will drop quite a bit beyond January".
It is not about the cap itself but more about buying / hedging their wholesale purchases. The more customers locking in at a specific price, easier it is to trade energy for the suppliers. Obviously, helps improve profitability.
Fuse Energy informed me yesterday that they are not going to increase electricity prices in January so no complaints
Depends how risk averse you are, below or 1% above current price cap is probably safe, up to 3% above present rates if you want price certainty, anything else is a gamble IMO.
I am still on tracker tariff with 🐙 and so far 🤞good.
I'm on tracker for gas and go for electricity, as I have batteries I can grid charge at night. Saving a fortune, but then it cost a fortune to install too! Too early for exact figures but I think in the first full year I'll have produced 3,500kWh of free electricity and put maybe 1,500kWh through the batteries via night charging (so 9p instead of 27p or whatever it is now).
Tariffs have changed a lot since I installed it, if I'd known about tracker or flux I may have planned differently, but I doubt I'll have spent more than £300 on electricity this year.
Depends how risk averse you are, but ultimately go with your gut instinct and don’t be swayed too much by amateur economists on here. If I’d have followed the general “advice” on here back when suppliers were going bust, rather than fixing for 2 years with one of the big 6 at a higher rate for stability, I’d have subsequently been worse off for the next 2 years. Nobody saw a war and inflated rates incoming.
21 Comments
sorted byImpossible to guess, but if the energy companies are offering fixes it means they expect they can make a profit off them not a loss.
Tariffs have changed a lot since I installed it, if I'd known about tracker or flux I may have planned differently, but I doubt I'll have spent more than £300 on electricity this year.