Variable or fixed - change of circumstances

  • TheDodds's Avatar
    Level 1
    Hello all,

    Our current fixed rate tariff ends on the 28th June and we have been offered three new tariffs, but we really don't know what to do because of a change that will occur in our household at the end of June.

    Currently, there are 5 adults in our 3 bed semi. We have a gas boiler and fire (that is never switched on!) and the rest of our appliances including the cooker and hob are electric. Our eldest daughter works from home and because her and her partner both eat at different times to us the cooker is being used at least twice a day. Add to that the washer and dryer being used at least twice a day, the dishwasher twice a day plus all our devices, televisions etc - we are currently using alot in electric! Our recent annual statement shows we have used 15802 kw/h electric and 6048kw/h. However, my daughter and her partner are moving into their own home at the end of June (build permitting), so our usage is going to undoubtably drop substantially. All the prices we have been quoted are based on our current usage so we have really no idea whether it would be best to fix, or move to a variable deal.

    As of today we are paying £176 a month but are in debit by £174.80. They have offered us:

    NextFlex at £256.78 per month
    NextOnline V14 at £341.91
    Next1Year V11 at £374.36

    We really don't know what to do for the best!

    Please can anyone advise?

    Thanks,

    Cailin
    Last edited by TheDodds; 20-05-22 at 12:57.
  • 2 Replies

  • theunknowntech's Avatar
    Level 59
    To be honest, you're better off fixing because the variable rate you're seeing only has about four months left on it before it shoots up again.

    However, please shop around because another supplier may have a better deal.
    Just another guy passing by... The unknown tech way...
    Pete is an IHD Tariff Update Robot! 🤖 Beki is a Giant Enemy Robot Spider 🕷 🤖 Hannah is neither!
  • TheDodds's Avatar
    Level 1
    @theunknowntech Thanks for the advice. I have been looking around but there doesn't seem to be any cheaper tariffs out there at the moment.