link to the post or can you elaborate what you did?
I can elaborate a little. (I find the search on forum a nightmare to use)
In October/September 2021 my supplier, Green, went down with the rest.
I was due to be put on shell energy.
I decided to make a post on here about "should I switch"
Suppliers were dropping like flies, much uncertainty was around. I kind of felt that there was more risk of up than down. But at that time variable was 3-4p for gas?
Anyway the fix was 5p gas/22p electricity fix. And it was for 3 years with Scottish Power. No exit fees, 200gbp cashback.
Most thought it was a bad idea. But I pushed on anyway (there were a lot of fixes at this time for that).
My reasoning, well, the 200gbp cashback covers the winter at the higher(5p gas) price than the SVR at the time. If things still look like SVR is great I can hop off and hopefully haven't lost too much (probably 100 at worst over winter)
Obviously I didn't predict the war. But I felt the volatility in market was more risk than reward.
We all know what happened next.
In hindsight it was one of the better financial decisions I've ever made. Even at that cheap rate my last bill was over 100 for month.
It also encouraged me to do same for mortgage. Which was more obvious to do. But same principle
It saves me 200 a month for over 2 years of the 3.maybe more of the prices go up. Yes of svr comes right down.
So could save anywhere between 2000 and up to 7000 if the pop really hits the fan. Fortunately it doesn't look like it will get to lol prices.
A few others
@Uther for example is on a similar plan. But I know there aren't many of us.
