[tlever]

If i don’t renew my fixed price plan when it expires at the end of this month will i be protected by the price cap levels ? I know they ate going up from 01/04/22

[theunknowntech]

Hi @tlever ,

Yup, if you're on a variable rate tariff, the Ofgem Default Tariff Cap will come into effect for you. Please be advised however, that there is not one single price cap that applies to the entire country at once. Instead, it's based on regions so you may pay higher rates than the national average.

[meldrewreborn]

@theunknowntech is correct. Additionally there are different rates for prepayment, standard credit and direct debit.

You may find that few if any suppliers are offering competitive fixed rates nowadays and your current supplier may be the only one that does. The problem is that these are very unusual times in the energy market, as while in the past a fixed rate offered almost certain savings today is different. The price cap applies to 1 October 2022 when a new one will kick in. At present we don't know what the October rates will be but the smart money is on another substantial increase. So you need to evaluate carefully any fixed rate against the April price cap and the unknown October price cap.

Which is best? - its a personal decision with no certainties as to the best option.