Stick or Twist

dryfly

currently on variable rate with Octopus Energy (electricity only) rate 31.10p per kWh and standing charge 60.18p per day.
Octopus Energy have offered 'Loyal Octopus 12M Fix' rate 29.11p per kWh and standing charge of 60.18p per day with £75 early exit fee.

Q: should I stick with the variable rate for the time being or go for the 12 month fix?

What_time_is_it

Ha! I've just asked the same question but for a dual fuel fixed rate offer. Yours is an even more borderline decision that mine to be honest as the unit rates are a little higher. It's a tricky one.

CSI_Yorkshire

A: do you think the variable rate will go down or up in the next 12 months by enough to make either the fix or paying the exit fee worth it?

[Deleted User]

Cornwall Insights latest opinion based on its modelling is that there is little to be gained by fixing over the coming Winter. That said, modelling is based on knowns -  not unknowns - and there is an ongoing War in Europe. Fix or variable comes down to the individual consumer’s attitude to risk.