Energy - accept fixed rate or stay variable?
Discussion
Currently with So Energy, paying £339 pcm with a current balance of approx 2 months credit. They're offering me a one year fix at £239 pcm but also indicating that my Flex monthly will drop to £276. Is the fix likely to turn out to be a decent deal, or is there a chance of energy prices tumbling any time soon? Exit fee is £75 per fuel.
OK, here they are. Currently paying £339 on a flexible tariff, they say that will go down to £276, or £239 fixed. The rates do vary though:
The prices do alter between the two, but at our c.20% night rate consumption we'd be less inclined to focus on using that at the fixed rates anyway.
My feeling is that the fix is worth going for and if prices collapse then it's "only" 1.5x current monthly to get out?
The prices do alter between the two, but at our c.20% night rate consumption we'd be less inclined to focus on using that at the fixed rates anyway.
My feeling is that the fix is worth going for and if prices collapse then it's "only" 1.5x current monthly to get out?
Those tracker rates are very good (currently!) but only available to existing Octopus customers. That said, Octopus do have a much better flexible tariff than So at the moment so I might just move over there anyway.
Weirdly So emailed me this morning with a significant drop in my monthly payment, partly because I'm in credit and apparently partly because they think we are using less anyway, but that will still make Octopus cheaper.
Weirdly So emailed me this morning with a significant drop in my monthly payment, partly because I'm in credit and apparently partly because they think we are using less anyway, but that will still make Octopus cheaper.
Trustmeimadoctor said:
Or octopus tracker if you can
Today is 20.36p kWh 47.9sc elec
4.77p kWh 26.84 sc gas
In my region
Yes it can go up but also it can go down and your not having £150 exit fee!
Where are you getting these prices from ...I'm with Octopus and according to them from July 1st...my new prices are their cheapest but not as low as yours ..Today is 20.36p kWh 47.9sc elec
4.77p kWh 26.84 sc gas
In my region
Yes it can go up but also it can go down and your not having £150 exit fee!
53.95sc...29.26kw...elec
27.46sc....7.43 kWh..gas
I'm sure Martin Lewis talked about this exact deal on his show the other week.
https://www.moneysavingexpert.com/news/2023/06/ene...
https://www.moneysavingexpert.com/news/2023/06/ene...
Ducati996R said:
Trustmeimadoctor said:
Or octopus tracker if you can
Today is 20.36p kWh 47.9sc elec
4.77p kWh 26.84 sc gas
In my region
Yes it can go up but also it can go down and your not having £150 exit fee!
Where are you getting these prices from ...I'm with Octopus and according to them from July 1st...my new prices are their cheapest but not as low as yours ..Today is 20.36p kWh 47.9sc elec
4.77p kWh 26.84 sc gas
In my region
Yes it can go up but also it can go down and your not having £150 exit fee!
53.95sc...29.26kw...elec
27.46sc....7.43 kWh..gas
eliot said:
Trustmeimadoctor said:
You will be on the flex tarrif you want the tracker one
and there’s a waiting list for trackerEven if there is get on flex then get on the list for tracker
It's dropped today 19.08 elec 4.47 gas
AI1601 said:
Wondering if now is a good time to fix seeing how the situation in the middle east is deteriorating fast.
The view from Martin Lewis ( last weeks show ) was basically no.Eon Next Pledge tariff was given as just about the only alternative worth looking at which iirc amounted to a discount of circa 3%.
Whether ML should be listened to or not I know not .
alscar said:
AI1601 said:
Wondering if now is a good time to fix seeing how the situation in the middle east is deteriorating fast.
The view from Martin Lewis ( last weeks show ) was basically no.Eon Next Pledge tariff was given as just about the only alternative worth looking at which iirc amounted to a discount of circa 3%.
Whether ML should be listened to or not I know not .
R.
British Gas
Electric Driver v3
Electric Vehicle Off Peak
8.95p per kWh
Electric Vehicle Peak
30.93p per kWh
Standing charge
40.97p per day
Exit fee
£0
All prices shown are inclusive of VAT.
The Electric Driver v3 daytime charge 30.93p per kWh is only marginally more than standard variable 29.22p per kWh.
Use the 8.95p per kWh night-time midnight to 5am period for dishwasher, washing machine and dryer.
Electric Driver v3
Electric Vehicle Off Peak
8.95p per kWh
Electric Vehicle Peak
30.93p per kWh
Standing charge
40.97p per day
Exit fee
£0
All prices shown are inclusive of VAT.
The Electric Driver v3 daytime charge 30.93p per kWh is only marginally more than standard variable 29.22p per kWh.
Use the 8.95p per kWh night-time midnight to 5am period for dishwasher, washing machine and dryer.
The Leaper said:
IMO, Martin Lewis is a self promoting fast speaking salesman, selling solely himself....successfully too. He is very "flexible" with his advice. For example, in his December programme on TV he was strongly recommending everyone should switch to fixed tariffs, especially BG's The Fixed One. This week he was recommending going variable. No doubt he will go back to promoting fixed tariffs on his next TV appearance due to the consequences of the Yemen situation. Nobody ever challenges the basis of his advice.
R.
Don’t disagree with your synopsis of him although you also missed off arrogant and self important. R.
I was simply saying what he had said as many do apparently take his advice as gospel.
alscar said:
The Leaper said:
IMO, Martin Lewis is a self promoting fast speaking salesman, selling solely himself....successfully too. He is very "flexible" with his advice. For example, in his December programme on TV he was strongly recommending everyone should switch to fixed tariffs, especially BG's The Fixed One. This week he was recommending going variable. No doubt he will go back to promoting fixed tariffs on his next TV appearance due to the consequences of the Yemen situation. Nobody ever challenges the basis of his advice.
R.
Don’t disagree with your synopsis of him although you also missed off arrogant and self important. R.
I was simply saying what he had said as many do apparently take his advice as gospel.
R.
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