Powering the switch to green energy
22 Jul 2020
After months of low prices, wholesale energy prices are on the rise, threatening knock-on increases for households. If you’re out of contract or in the last two months of your fixed tariff, switching now to a green fixed price contract can lock in current low prices – and of course, help the planet at the same time.
A few months ago, wholesale energy prices (and especially gas prices) were at their lowest level in years. Many of our suppliers passed on those savings to customers by lowering the tariffs they offered. But now, things are changing.
A combination of oil price rises and big parts of the economy beginning to restart after the Covid-19 lockdown is pushing up the wholesale price of electricity, raising the possibility that the rates available from suppliers may soon follow suite. (If you’re wondering why oil prices affect green tariffs, you can find out on our blog.)
Of course, there’s no knowing what’s around the corner, but if you want to avoid potentially higher electricity prices, switching now to a fixed rate tariff could be a good idea. Fixed tariffs lock in the price the supplier can charge you for a unit of energy – usually for 12 months. Most of the cheaper tariffs available through Big Clean Switch are fixed rate tariffs, and there’s more info on the difference between fixed and variable tariffs in this blog post.
If you’ve not switched before, or have a question about green energy, our UK-based team is here to help. Just use our live chat or call us on 0800 249 4770.