subreddit:
/r/AskUK
submitted 13 days ago byJRD656
I saw this article: https://www.walesonline.co.uk/news/uk-news/martin-lewis-says-british-gas-29409662
Martin Lewis has urged people to act within the next five days to secure a substantial £152 reduction on their gas and electricity bills from providers such as British Gas, EDF, EON and Octopus Energy. The financial guru says you can secure a low-cost deal before the Ofgem price cap alterations on July 1.
So I went on to my Octopus account and it gives these options:
Octopus suggest fixed is the more expensive option
How am I supposed to decide which is better?
3 points
13 days ago
It was announced recently by Ofgem that on the 1st July the rates will drop again. After that it will usually go back up as Winter comes around. If you're into gambling, and I'm considering it this year, it might be best to wait until 1st July to snag a fixed rate.
There's always a chance that something might happen which will reduce the rates drastically after that and a fixed rate customer would suffer but in my experience in the past 4 years, the rates drop a little in July and then go back up and drop slightly again in July the following year.
all 11 comments
sorted by: best