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Thinking of moving to a fixed tariff for 1 year or 2 years... should I?

  • 9 February 2024
  • 11 replies
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hey guys, so i came across the fixed plans and they may look appealing, i jus feel going forward we will be paying more and more each year with whatevers going on the world. currently i am on variable (simpler energy)

2 year fixed                                                                 1 year fixed                                VARIABLE (Current)
£164 avergae per month                                        £164 per month                             £192 per month


Plan rates


Electricity                                                                       Electricity                                 Electrcity
Unit rate - 27.83p/kWh                                               27.83p/kWh                               28.22p/kWh                  
Standing charge - 61.55p/day                                     61.53p                                        65.90p


Gas                                                                                   Gas                                             Gas                         
Unit rate - 5.93p/kWh                                                 5.93p/kWh                             7.39 per kwh
Standing charge - 29.27p/day                                      29.25                                        33.30p

 

i mean on paper from above….the fixed rates look appealing but i thought id run it by you guys first to advise me better.

 

what you guys think?

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Best answer by Firedog 9 February 2024, 20:36

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There’s been an ongoing discussion about this since December here, where you may find some food for thought.

Meanwhile, I’m a bit confused by the figures you show for your current variable tariff. The standing charge for electricity would suggest that you’re either in the north of Scotland or in the South West, and paying on demand rather than by Direct Debit (DD). Since there isn’t too much gas around in far North Britain, I’m guessing Devon or Cornwall. Either way, you could save perhaps £150 a year by changing to paying by DD.

Last, I think the data Ofgem use to fix the second quarter’s price cap will be finalized next week, so we’ll have a much better idea of what to expect. At the moment, Standard Variable Tariffs are expected to fall significantly from 1 April.   

There’s been an ongoing discussion about this since December here, where you may find some food for thought.

Meanwhile, I’m a bit confused by the figures you show for your current variable tariff. The standing charge for electricity would suggest that you’re either in the north of Scotland or in the South West, and paying on demand rather than by Direct Debit (DD). Since there isn’t too much gas around in far North Britain, I’m guessing Devon or Cornwall. Either way, you could save perhaps £150 a year by changing to paying by DD.

Last, I think the data Ofgem use to fix the second quarter’s price cap will be finalized next week, so we’ll have a much better idea of what to expect. At the moment, Standard Variable Tariffs are expected to fall significantly from 1 April.   

thank u for the link, i am based in glasgow.

I’m not fixing yet…..Waiting till late August to see what price cap will be Oct to Dec…

Everything is pointing to cheaper but it takes about 9 months for wholesale prices to filter down. And don’t panic if middle east gets worse, their contribution is small beer (10-15%), Russia was 40% and cheap.

 

Figure 2: Cornwall Insight’s Default Tariff cap forecasts using new Typical Domestic Consumption Values: Standing charge and unit rate (dual fuel, direct debit customer)

Electricity Q224 CI Forecast Q324 CI Forecast Q424 CI Forecast
Standing Charge (£/day) 0.58 0.58 0.59
Per Unit Costs (p/kWh) 23.56 21.21 22.29
Gas Q224 CI Forecast Q324 CI Forecast Q424 CI Forecast
Standing Charge (£/day) 0.30 0.30 0.31
Per Unit Costs (p/kWh) 5.73 5.24 5.32

I’m not fixing yet…..Waiting till late August to see what price cap will be Oct to Dec…

Everything is pointing to cheaper but it takes about 9 months for wholesale prices to filter down. And don’t panic if middle east gets worse, their contribution is small beer (10-15%), Russia was 40% and cheap.

 

Figure 2: Cornwall Insight’s Default Tariff cap forecasts using new Typical Domestic Consumption Values: Standing charge and unit rate (dual fuel, direct debit customer)

Electricity Q224 CI Forecast Q324 CI Forecast Q424 CI Forecast
Standing Charge (£/day) 0.58 0.58 0.59
Per Unit Costs (p/kWh) 23.56 21.21 22.29
Gas Q224 CI Forecast Q324 CI Forecast Q424 CI Forecast
Standing Charge (£/day) 0.30 0.30 0.31
Per Unit Costs (p/kWh) 5.73 5.24 5.32

 

hmmm interesting. i guess we will find out what the second quarter’s price cap will be to get better idea if anyone wants to fix now.

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i am based in glasgow.

 

Thanks. Am I right in thinking that the boundary between the Northern and Southern electricity distribution regions in Scotland runs along the Clyde? So Celtic are in Northern Scotland, but Rangers in Southern?

The only maps I can find show a vague line from the Clyde to the Tay, so it would be good to know whether Greater Glasgow is in fact split between two regions (which match the old Electricity Boards in England, but I’m not sure how far south Scottish Hydro stretched).   

  

i am based in glasgow.

 

Thanks. Am I right in thinking that the boundary between the Northern and Southern electricity distribution regions in Scotland runs along the Clyde? So Celtic are in Northern Scotland, but Rangers in Southern?

The only maps I can find show a vague line from the Clyde to the Tay, so it would be good to know whether Greater Glasgow is in fact split between two regions (which match the old Electricity Boards in England, but I’m not sure how far south Scottish Hydro stretched).   

 

no no both celtic and rangers are in southern scotland. when i checked last...my area falls under scottish hydro or scottish power.

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Thanks. So I’m none the wiser ...

Thanks. So I’m none the wiser ...

nah man...its all good lol

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… both celtic and rangers are in southern scotland.

 

OK, I’ve now found a map where the DNO boundaries are a bit clearer. It certainly looks as if the whole of Glasgow is in fact in Southern Scotland region 18, served by Scottish Power:
  

DNO map from scottishpower.co.uk superimposed on an Ordnance Survey map 

 

Sorry to have been so confused and confusing. I wonder if the border shown is different from that of the (old) Scottish Hydro area.  

Hey guys, any updates on second quarter’s price cap? 

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Hey guys, any updates on second quarter’s price cap? 

Soon!(tm)

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