What rates are you being offered by your provider at the moment?

CSI_Yorkshire

As is pointed out every time, it entirely depends what your guess is about the next twelve months of prices and how much you value certainly.

Only you can answer that.

If you think prices will go up or you value certainty of your rates, fix.

If you think prices will go down, or you don't mind taking a bit of risk, don't fix.

Telegraph_Sam

That is taken as said (repeatedly). Quite a likely scenario is that price levels will drop only to rise again later. The calculation then becomes if it's possible to make more on the swings than lose on the roundabouts - which is pushing crystal ball technology to the limit. What might be called a "calculated risk" with the safeguard that there is a get out of jail free card (no exit fee if I understood correctly) with Tracker

Ivrytwr3

Ivrytwr3 said:

Economy 7 user, can someone help please:

Current tariff: Flexible Octopus

Unit rates:

Standing charge: Electricity: 48.76p per day

Electricity (day): 36.80p per kWh

Electricity (night): 16.40p per kWh

Standing charge: Gas: 27.47p per day

Gas: 7.38p per kWh

-------------------

Available: Loyal Octopus 12M Fixed

Electricity:

Daily standing charge 48.76p /day

Unit rate (day) 34.34p /kWh

Unit rate (night) 15.31p /kWh

Early exit fee (For changing tariff or supplier) £75

Gas

Daily standing charge 27.47p /day

Unit rate 6.92p /kWh

Early exit fee (For changing tariff or supplier) £75

-------------

Is this worth going for in your opinion? It seems i can save approx £45 per month if i fix for 12 months...............

Currently paying £296.043 per month, Octopus says the new tariff is £251.36 per month, so i minused the old and new estimate to give me the £45 saving - but after sleeping on it, that doesn't look right!

My current annual estimate is £3,208.66 with the new tariff being £3,016.29, so an annual saving of £192.37 or a £16.03 monthly saving, not £45.

No idea where i went wrong.

CSI_Yorkshire

Ivrytwr3 said:

Ivrytwr3 said:

Economy 7 user, can someone help please:

Current tariff: Flexible Octopus

Unit rates:

Standing charge: Electricity: 48.76p per day

Electricity (day): 36.80p per kWh

Electricity (night): 16.40p per kWh

Standing charge: Gas: 27.47p per day

Gas: 7.38p per kWh

-------------------

Available: Loyal Octopus 12M Fixed

Electricity:

Daily standing charge 48.76p /day

Unit rate (day) 34.34p /kWh

Unit rate (night) 15.31p /kWh

Early exit fee (For changing tariff or supplier) £75

Gas

Daily standing charge 27.47p /day

Unit rate 6.92p /kWh

Early exit fee (For changing tariff or supplier) £75

-------------

Is this worth going for in your opinion? It seems i can save approx £45 per month if i fix for 12 months...............

Currently paying £296.043 per month, Octopus says the new tariff is £251.36 per month, so i minused the old and new estimate to give me the £45 saving - but after sleeping on it, that doesn't look right!

My current annual estimate is £3,208.66 with the new tariff being £3,016.29, so an annual saving of £192.37 or a £16.03 monthly saving, not £45.

No idea where i went wrong.

You went wrong by using monthly estimates rather than calculating from actual usage.

Telegraph_Sam

For the past 2 years limited load switching has become a way of life for me. Now that Go Faster has disappeared there is no longer any incentive (that I am aware of) for consumers to do this - other than to purchase an EV. Seems a bit self defeating as far as non-EV people are concerned.

chess_010

Exclusive Fixed Energy v30 single rate fixed till nov 2024

Rates are gas standing charge of 27.74p with rate of 7.40p per kWh

And electricity standing charge 50.05p and rate of 29.59p per kWh 

Exit fees of £100

I am in cheshire in North West of England 

Is this a good deal?

I suspect it is not best on offer but unsure who is best at moment 

Please advise

[Deleted User]

Telegraph_Sam said:

For the past 2 years limited load switching has become a way of life for me. Now that Go Faster has disappeared there is no longer any incentive (that I am aware of) for consumers to do this - other than to purchase an EV. Seems a bit self defeating as far as non-EV people are concerned.

Have a look at Octopus Agile. My daughter is on it at the moment and her average is considerably below the capped unit price. She doesn’t use high power appliances during the peak period.

QrizB

Dolor said:

Telegraph_Sam said:

For the past 2 years limited load switching has become a way of life for me. Now that Go Faster has disappeared there is no longer any incentive (that I am aware of) for consumers to do this - other than to purchase an EV. Seems a bit self defeating as far as non-EV people are concerned.

Have a look at Octopus Agile. My daughter is on it at the moment and her average is considerably below the capped unit price. She doesn’t use high power appliances during the peak period.

Sam's post was back in July.

He gave more detail on the Octopus thread:
https://forums.moneysavingexpert.com/discussion/comment/80229507/#Comment_80229507 et seq.

chess_010 said:

Is this a good deal?

I suspect it is not best on offer but unsure who is best at moment 

It's a little more expensive than the current Ofgem capped SVT, which will be reviewed in December and revised from 1st Jan.
If you value the reassurance of a fix vs. the uncertainty of the SVT, you might choose the fix.

Telegraph_Sam

Comparing variable rates does of course demand time and dedication.  It seemed to me that Agile was a little too volatile so I opted for Tracker.  If there is a steep rise in prices as winter approaches this may have to be reviewed. Hopefully word would get around forums such as these if this was the case.

dairoid

OVO have just announces a 2 year fixed deal for dual fuel   Electicity 27.88p and daily charge 52.99p  GAS..7.31p and daily charge 25.92p