• Anyone have any insights into what energy prices are going to look like later this year? Seen a few headlines saying wholesale prices are dropping. Will this translate into lower consumer costs? My 2 year fixed is due to end in October...

  • Martin Lewis is pretty good. Cornwall Insights too if you don’t mind a little more technical detail. Tl;Dr at the moment is that EPG will be coming to an end in July (this is what is currently capping prices at £2.5k representative), and we’ll go back to regular price caps set by OFGEM. at the same time prices will fall anyway as part of this quarterly price cap to around £2.2k representative but then May rise again as we enter winter (as is often the case). Yes wholesale prices have fallen, but they are still volatile so no guarantee they will follow the “normal” path of lower in summer and higher in winter. The price cap mechanism has also changed (quarterly not 6-monthly) so price cap tariffs (variable tariffs) are likely to change more frequently. If your 2 year fix is coming to an end in October then you’ll see much higher rates vs two years ago, so just keep a look out over summer for a supplier that has a good deal or aligns with your values. Lots of suppliers expanding out to other areas/bundling products together which can offer better value for consumers but not always. Also keep an eye out for what your current supplier is doing, may well be that you can get a good deal by sticking rather than switching as it’s pretty costly at the moment for a supplier to get a new customer in (Ofgem have banned new customer only tariffs, ie a supplier can’t offer a cheaper price to just new customers) and there’s not much differentiation in the market so existing customer deals seem more competitive than have historically been the case.

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