Wardy's twin
Well-known member
- Oct 21, 2014
- 8,940
I know its down to personal choice and crystal balls but does anyone have any insight on whether its a good time to change/renew on fix rates.
If you mean the £67 a month that was being paid this time last year then a majority of households (if not all?) should have had it. I was on a fixed rate until March this year and I certainly got it.did customers get the government fuel rebate if they were on a fixed rate, I dont know that they did?
Good old Martin, I fixed couple of months ago when he said to do it.Martin Lewis says no in general, you've missed the decent price fixes available a couple of months ago.
Thanks , I saw that on line about 30 mins ago and factored that into my projection..... I am going to fix my rate, at least I know what i will be paying for the year though its projected to be
same here not convinced about stability of fuel prices so opting with fixed rate... my own calculations and money experts online calculator indicate I will pay 4-5% above what i would pay if stayed on variable AND their estimates of rises/drops take place. In the scheme of things I will be paying £450 a year less than last year at the new fixed (assumes similar usage) so good for me.Have just come off a 2 year fix with British Gas and was paying c£75 for gas and c£75 a month for electric
Just taken another two year fix as below
Now paying £135 electric £70 gas, so up 25%. I am not convinced the market is ready to stabilise yet so have gone for certainty.
View attachment 170654
as a matter of interest what sort of rates did you get.Good old Martin, I fixed couple of months ago when he said to do it.
If you mean the £67 a month that was being paid this time last year then a majority of households (if not all?) should have had it. I was on a fixed rate until March this year and I certainly got it.
I went through my last years bills with a fine tooth comb , there were two discounts the £67 ones and a price cap one which was shown on my bills by a reduction in the billing I think it showed something between 17p -35p per unit of electricity and between 2p -6p for gas billed as reductions/negatives/rebates.Yes, that was the one - I was on the capped tariff - wasn’t sure if those on the fixed rate got it or not.
Not an issue , think you are totally correct about individual decisions , I was trawling to see if there was something obvious I had missed.Fixed rates are just like any type of insurance.
You will pay a small premium to insure against the volatility of the market, and that's what you should make your decision on. Are you happy to pay the small premium to offset the chance of you getting bitten by an increase (the larger the bite, the lesser the chance).
As long as you understand this, I think everyone needs to make their own decision. Sorry
All current fixes are a lot more than what we currently pay.