Scilly.Suffolk-
Yes, market rate from previous 6 months but this is slightly offset from when the cap comes in. April price cap = Feb announcement = Jan decision, so will be based on July21-Jan22 prices if things follow their normal pattern. However given prices seem to be jumping around by £150/day at the moment who knows if it’ll be normal process this year. Govt may step in if it’s not seen as politically expedient to raise prices that much especially with inflation but who knows at this point. Plus the industry levies that can be added to prices to help those suppliers who took on extra customers as we’ve had so many suppliers exit the market. May mean a hefty price bump
For context £150/day is almost double what the going rate was in summer 2021 for a unit of energy… so things have gone crazy!
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C4r1s
Stay variable for now for sure. However be aware that come April when the next price cap comes into play it’s likely to go up £500-£600 from where it is today (£1300?) to much closer to £2000. It’s definitely the best bet for now for consumers, but may mean that there aren’t any better offers come April and then we’re all stuck anyway. If you can find a fixed rate at or around £2000 you’re probably safest doing that. May pay more now, but for the remaining 9 months (April ->) it probably won’t be much more expensive than variable, and may well be cheaper.
There’ll be plenty of noise in Feb when OFGEM announce the next cap, needs to be 6-8 weeks before or comes into force so time to shop around then and see what’s out there