Energy Fixed Tariff Decision Day

[terminal7]

Just about to come off an 18 month fixed dual tariff and received the email with the three mouth-watering choices - 2 year fixed, 1 year fixed or variable with corresponding increases of electricity/gas from +52%/+70% for the latter all the way through to +140%/+290% for a 1 year fixed. The 2 year fixed 'only' +106%/236%. I will look at other suppliers to see how they compare,

My initial view is to change to variable and play the market next Spring when current cap expires. Of course the energy situation may deteriorate even further by next Spring but as I see the downside is greater than the upside in terms of tariffs.

T7

[airbus330]

FWIW Uswitch and MoneySavingExpert are giving advice that in this situation, you should stick with the standard variable tariff that is capped, for the time being. I read a snippit a few days ago that gas prices in the bulk market had begun to stabilise, so presumably the expectation is for a fall back in the Spring. I'm in the same situation and none of the fixed tariffs on offer in my area are worth taking.