Energy deal is ending in March

asewell

I am currently on  a fixed Octopus 12m 2021 v1 for electric and gas which ends on 22 March. I currently pay £124 DD monthly. They have offered me Loyal Octopus 12 months  fixed £226.04, flexible £141.85  or Octopus 12mth fixed £254.40. What would be your advice as if  i accept flexible that will rise in April whereas the other ones will remain the same. Advice please? Thanks

TheMilkmansDad

what are the tariff costs and exit fees of the fixes being offered?

MWT

Assuming that the new tariff will start when your current one ends, and given the current uncertainty over the gas supply, I'd be inclined to take it now and then see what happens between now and next month, if you are a gas user.

Octopus do not have exit fees so you can always chose to cancel and drop back to the variable tariff if you want...

If you do not use gas then I wouldn't take it.

MWT

This is the Loyal tariff for the Eastern region:

If you were a modest electricity user with gas heating, in the current climate of uncertainty I'd suggest locking it in now for a late March renewal and then see how things develop.

Can always change your mind before it cuts in later next month, but if you don't lock it in now and things go badly in the Ukraine, I highly doubt that this tariff will still be there at these rates...

asewell

Thank you all for your comments, I think I will lock in now. The good thing being that there are no exit fees so a bit of leeway there.

MWT

asewell said:

Thank you all for your comments, I think I will lock in now. The good thing being that there are no exit fees so a bit of leeway there.

Hopefully you got this done yesterday as the prices went up today...