Fix or flexi

Nickdwhite1

Currently with Octopus Energy on a good tariff, Elec 15.88/kwh plus standing charge 20.87/day. Gas 2.97/kwh plus standing charge  17.83/day. Usage Elec 2935kwh/year, Gas 5349kwh/year and currect direct debit 69/mth dual fuel.
Going through comparison sites obviously shows nothing better at moment with all going on.
My question is do I do nothing and go onto Octopus variable rates currently Elec 20.58/kwh plus standing charge 23.30/day and Gas 4.14/kwh plus standing charge 26.11/day (but as we all know this going up big time in Apr) or do I opt for the Loyal Octopus12M fixed with rates of Elec 27.65/kwh plus standing charge 23.30/day and Gas 8.49/kwh plus standing charge 26.10/day.
I'm trying to work out figures and think based on Martin's advice to go to flexible rate unless fix at around 40% more that there isn't much difference in it. Does it make sense to fix in case cap goes up again in Oct or stick to flexible.
FYI no exit fees apply.

TheMilkmansDad

this would rather depend on when your current fix ends. I may be tempted to fix if it wasn't for the gas price! 

Nickdwhite1

TheMilkmansDad said:

this would rather depend on when your current fix ends. I may be tempted to fix if it wasn't for the gas price! 

End 4th March, know what you mean about gas price but usage relatively low. May fix do flexible for a month before prices rise then fix, guess depends what OFGEM set the cap at to get more clarity.

bristolleedsfan

Tariffs can be split to avoid paying more than double amount on gas usage for possibly 11 weeks based on if changing tariffs today

QrizB

Nickdwhite1 said:

TheMilkmansDad said:

this would rather depend on when your current fix ends. I may be tempted to fix if it wasn't for the gas price!

End 4th March, know what you mean about gas price but usage relatively low. May fix do flexible for a month before prices rise then fix, guess depends what OFGEM set the cap at to get more clarity.

You might want to wait a fortnight; the April cap is due to be announced on 7th Feb.

TheMilkmansDad

it's a gamble either way. The Fix your offered now may not be the same tariff of what's offered in 2 weeks time...

Nickdwhite1

bristolleedsfan said:

Tariffs can be split to avoid paying more than double amount on gas usage for possibly 11 weeks based on if changing tariffs today

Any change wouldn't be actioned till 4th Mar so have just over month to decide all the gas prices from lots of other suppliers seem quite simular (unless I'm missing something, don't know which is why asking lol)

Nickdwhite1

TheMilkmansDad said:

it's a gamble either way. The Fix your offered now may not be the same tariff of what's offered in 2 weeks time...

It is a gamble but think might wait the 2 weeks anyway and see. I'm guessing it won't be massively different as these companies employ people alot better than me at working things out and probably have a better idea about what's going to happen and base offers on that. Many thanks for your input

bristolleedsfan

Nickdwhite1 said:

bristolleedsfan said:

Tariffs can be split to avoid paying more than double amount on gas usage for possibly 11 weeks based on if changing tariffs today

Any change wouldn't be actioned till 4th Mar so have just over month to decide all the gas prices from lots of other suppliers seem quite simular (unless I'm missing something, don't know which is why asking lol)

Might be worth considering splitting tariffs in not to distant future bearing in mind Octopus Energy tracker tariff gas rate is capped at maximum 6pkwh with much lower standing charge.

Several possibilities that Octopus could change re tracker tariff none of which relates to energy cap, - equally possibly no changes will be made.

Nickdwhite1

bristolleedsfan said:

Nickdwhite1 said:

bristolleedsfan said:

Tariffs can be split to avoid paying more than double amount on gas usage for possibly 11 weeks based on if changing tariffs today

Any change wouldn't be actioned till 4th Mar so have just over month to decide all the gas prices from lots of other suppliers seem quite simular (unless I'm missing something, don't know which is why asking lol)

Might be worth considering splitting tariffs in not to distant future bearing in mind Octopus Energy tracker tariff gas rate is capped at maximum 6pkwh with much lower standing charge.

Several possibilities that Octopus could change re tracker tariff none of which relates to energy cap, - equally possibly no changes will be made.

Did look at this but won't the maximum rate cap not change in Apr anyway as is a flexible rate?

bristolleedsfan

Nickdwhite1 said:

bristolleedsfan said:

Nickdwhite1 said:

bristolleedsfan said:

Tariffs can be split to avoid paying more than double amount on gas usage for possibly 11 weeks based on if changing tariffs today

Any change wouldn't be actioned till 4th Mar so have just over month to decide all the gas prices from lots of other suppliers seem quite simular (unless I'm missing something, don't know which is why asking lol)

Might be worth considering splitting tariffs in not to distant future bearing in mind Octopus Energy tracker tariff gas rate is capped at maximum 6pkwh with much lower standing charge.

Several possibilities that Octopus could change re tracker tariff none of which relates to energy cap, - equally possibly no changes will be made.

Did look at this but won't the maximum rate cap not change in Apr anyway as is a flexible rate?

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