Are the fixed tariffs set in stone?

  • UKDave51's Avatar
    Level 3
    Myself like no doubt many thousands of others took up a new fixed tariff at the start of this month in my case it was V11 which I`m happy about.
    However with the daily news stories about wholesale gas prices rising even further because of the war can we trust the energy company`s to not move the goal post and hit us with a rise before the end of our contacts?
    Obviously comments will only be personal opinions but it`s somewhat of a concern.

    Cheers.
  • 1 Reply

  • meldrewreborn's Avatar
    Level 91
    I had a 2 year fixed price gas contract with Zog to expire in March 2023!!. They got out of it by going bust!1

    I think the possibility of the giants reneging on their contract is very small and they will have ensured that they don't take on too many fixed price customers, by so doing they limit the risk to themselves..

    There are no competitively priced fixed price gas deals at the moment (there's a surprise!) and according to Martin Lewis last week, only Eon is offering fixed price electricity, and even then only to it's existing customers.

    With the price of gas still rising due to the Ukraine invasion, the noises made by OFGEM to consider whether the next price cap regime should be 3 rather than 6 months in length will be gathering traction. The giants claim they are losing money at the moment, but know that they'll get that back in future price caps. But the 6 month period for price caps out of step with the realities of the market place so expect some changes. The existing fixed price tariffs should be safe to their appropriate end date though.
    Last edited by meldrewreborn; 07-03-22 at 15:57. Reason: spelling