Reply To: Price cap to increase by £693 from April | Ofgem So as we all know, the regulator Ofgem is allowing the energy price cap to increase from 1 April 2022 which is a worry for most of us. So I…

[kev2021]

For myself, my Elec is fixed till next year, but my Gas was fixed till next year too but unfortunately they went under, not through any faulty of there own, the company they bought gas from pulled out and there was no way they could compete then so I’m now on variable rate and it’s difficult to know what to do for the best.  At the moment, the price cap rate is far better than any fixed rate BUT assuming the rates go up to what they say in the above table and I suspect each area/region will vary, some of the fixes now are more than that.

Plus there is also a rumour of a further 20% increase in October so hard to know what’s best.

I kept my Elec/gas separate as it was cheaper than a dual fuel tariff and I prefer to have them run out around the same time so I can re-fix both and then forget about it for couple of years rather.

Going to see what happens this/next month and decide but most comparisons are saying they wont quote etc.

I believe industry is hoping in 2023, companies will become more competitive again and then will be about to get better rates but at the moment not, even the exit feels are going crazy, I seen some £11 – 200 pound exit fees… used to be £25-30 per fuel max…

Kev

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