Why did Martin say not to fix

Astria

I fixed last year because the prediction was that prices were going to rocket and a new price cap be implemented by April, and that happened.

I fixed earlier this month with a start date of when my current tariff finishes in October, at the moment I will be worse off on my fix considering the released price cap, but I might still be better off come January.

It's all about gambling - you can make a saving or a loss depending on which way you jump.

Just remember, make your own conclusions - don't depend on other people. Look into the facts and available data and act independently.

jimexbox

My recollection is that Martin did recommend fixing, if the fix was at or below the expected energy cap. The choice is entirely up to you as to whether you wanted too. 

I took a 24 month fix recommended by Martin. Although the 12 month was cheaper, I opted for the security of a longer deal. 

london21

As at when he advised, he was correct.

I was with Bulb energy and the prices been offered were a lot worse than what i am paying and the increase then.

No point looking back I guess, we have to move forward with the situation we find ourselves.

Who knows next 12 months, maybe might come down again.

Phlik

spot1034 said:

Hi all 

Around this time last year alot of energy companies were collapsing and he said not to fix but I fixed with my new company..now the prices are sky high on standard and variable and the people on fix could be winning. 

I know he can't see into the future but why did he say not to fix. 

Anyone who fixed last autumn would (assuming a one year fix, which the majority of fixes are) would now be facing a renewal at today's sky high prices. Those who held off and made the decision earlier this summer have paid SVT rates which only increased sharply in April and if they fixed, say in June or July, are now protected from the rise announced today and even bigger forecast rises in January and April, and will only have to look at renewal next summer. Who knows, it might be the case that prices have started to ease by then. Let's hope so. 

Of-course if you fixed for a longer term than one year you'd have done well, so congratulations if that's what you did.

All any of us have done is delay the inevitable.
For those that have been lucky enough to fix on a good one or two year deal, use that time and money you've saved wisely and look at ways to reduce your usage.

jj_43

in the long run, not fixing is cheaper than fixing. You may be lucky with your fix, or able to predict market movements. The price of a fix reflects all information, and due to emotions people fix at the wrong levels.

Chrysalis

At the time he said it.

Most fixed deals i seen (including all ones offered to me) were quite a bad deal.
The SVR was only updated every 6 months instead of every 3 months now.
The October SVR was way below wholesale costs, it was almost the same as its previous SVR.

He isnt mystic meg.  I think his advice was right for the time, I didnt fix in October and reckon I saved money from it.  (was only offered 1 year fixes)

However I think 18+ months fixes were probably worth it.  I just couldnt find any.

The_Green_Hornet

Sncjw said:

Hi all 

Around this time last year alot of energy companies were collapsing and he said not to fix but I fixed with my new company..now the prices are sky high on standard and variable and the people on fix could be winning. 

I know he can't see into the future but why did he say not to fix. 

His advice (and it was only his advice) was probably sound a year ago as it was before the Russian invasion of Ukraine.

Since April everyone has been playing catch-up because as soon as a new price cap prediction was published the suppliers replaced their fixes with something higher than the cap. Personally, I think his advice to stick on the SVT was poor but others disagree.

Regardless, eventually each individual had to make a judgement call as to where they thought prices would end up and whether to fix or not.