Reply To: Energy bills to rise 9% in Oct 2024 Saw on bbc, Energy bills expect to increase by 9% in October 2024 and rumours will increase again Jan but not back to the levels previously, https://www.bbc.co.uk/news/articles/cy54r9r1355o Kev

[kev2021]

So just heard back today….

OTM have 2 tariffs:-

Fix’d Dual Aug24 v5.0

Tariff type: Dual Fuel Only – Fixed. Payment method: Direct Debit. Electricity unit rate: 22.392p per kWh. Electricity standing charge: 49.937p per day. Gas unit rate: 5.841p per kWh. Gas standing charge: 31.000p per day. Exit fees: £25.00 per fuel. Tariff Term: 12 months

 

2 year Fix’d Dual Aug24 v5.0
Tariff type: Dual Fuel Only – Fixed. Payment method: Direct Debit. Electricity unit rate: 23.103p per kWh. Electricity standing charge: 49.906p per day. Gas unit rate: 5.947p per kWh. Gas standing charge: 31.006p per day. Exit fees: £100.00 per fuel Tariff Term: 24 months

I’m looking at the 2yr one as just over a £1.13 a month difference in price so not a real issue but the £100 exit fee per fuel is a bit high but then i guess just don’t exit early?

What are your thoughts? I believe the 12month is 6% less than Oct price cap and I can only assume the 2yr one is slightly less than that but still cheaper than the Oct price cap as as ppl reckon a small increase again in Jan and then prices stay same throughout next year, I suspect will go up again later next year so might be worth taking a gamble on 2yr fix?

Also, they wont charge me an exit fee as I’m switching to another fix with them BUT if I switch to variable they would charge so all good there, a bonus if you will.

Kev

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