I'm with Eon and I'm up for renewal in October. I've read through Martin Lewis's stuff and used a tool on his website which suggests the fixed contract on offer is probably best avoided. What is everyone else doing at the moment? Still feels like a bit of a gamble not fixing alas it may be a gamble that pays off. The flexi offer comes up cheapest but I assume that is based on current prices and not taking into account what prices could rise to?
Current Tariff:
Elec: 19.82p/kwh 17.26p/day
Gas: 3.96p/kwh 20.64p/day
Offered Fixed:
Elec: 60.51p/kwh 43.39p/day
Gas: 15.23p/kwh 27.22p/day
Offered Flex:
Elec: 28.46p/kwh 43.39p/day
Gas: 7.48p/kwh 27.22p/day
I have a 1950's detached 3 bed house, which I really need to get loft insulation sorted out for, but as a household, me, the wife, a 2yo and a 4yo we use the below yearly quantities
Elec: 2450kwh
Gas: 6659kwh
Initially not fixing looks the better option and Martin Lewis's online tool states as the offered fixed tariff is over 130% more than my current tariff, it's actually 210% more, the tariff offered is too expensive. I'm a pretty low risk person and usually when I take a gamble, as in going onto the flex tariff, it goes horribly wrong for me
On the flip side the fixed tariff offered seems ludicrous!
What would you do?