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Take this with a pinch of salt as I'm just a random energy market consultant on the internet, but our view for the last couple months has been and continues to be that wholesale prices will continue to generally trend downwards at least until March.
For context, wholesale power prices for the coming summer and winter are 30% lower than they were a month ago, and less than half what they were when the news was predicting the energy bill apocalypse ca. the start of September.
There are good reasons why this is the case, but it largely boils down to the fact that everyone (domestic/industry) is using less power/gas because - surprise - it's really expensive.
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- They won't give you a deal that they don't expect to make money on
- You don't have a better idea of where energy prices are going to go than they do
Ergo only do it if you need absolutely certainty that your bills won't go up from where they are now, or if you want to gamble on them being wrong about prices starting to go downward
On the other hand if there's no/very low exit fees then there's no downside really, just take the deal and leave if variable prices drop
- They won't give you a deal that they don't expect to make money on
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davidvdp_is_better
frankenbike
@amey
I am on EON and they are offering me fixed at VERY similar rates, ran it through Martin Lewis calculator here: https://www.moneysavingexpert.com/utilities/-are-there-any-cheap--fixed-energy-deals-currently-worth-it--/
And it says this; shall I fix or wait as the prices are falling according to new.
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