BG Fixed Tariff

Profiterole

Seriously considering Fixing at this higher rate with everything going on in the World at the moment........ What do people think?

Profiterole

Also considered a switch to Octopus, if anyone has any thoughts on that?

GingerTim

Only you can really answer this question, based on your appetite for risk.

Do you prefer certainty? Then go for the fix.

Are you willing to run the risk of taking slightly lower prices in the immediate term but the potential for a spike? Then stick with the standard variable tariff.

MikeJXE

No comment on BG but I can highly recommend Octopus and you will find many more of the same view 

Billxx

I recently fixed to this tariff.  Like the OP I did the calculations and I will pay about £8pm more on this tariff, rather than the standard variable.  But I prefer that for the certainty.

Profiterole

Thanks for the replies, appreciate them. Think my main concern is the Geopolitical Situation causing the Price Cap to increase more than currently expected in January. I need to do some more Research before deciding the best way forward.

spot1034

Profiterole said:

Thanks for the replies, appreciate them. Think my main concern is the Geopolitical Situation causing the Price Cap to increase more than currently expected in January. I need to do some more Research before deciding the best way forward.

I wouldn't take too long if I were you. Wholesale prices have risen considerably in the past week - not just those for the period January to March, which will largely determine the price cap for that period, but also those looking further ahead, which make the most recent forecasts from Cornwall Insight for the four quarters of next year somewhat out of date. It would not be too surprising to hear that some or all of the fixes presently available have been withdrawn in the coming days.

barker77

spot1034 said:

Profiterole said:

Thanks for the replies, appreciate them. Think my main concern is the Geopolitical Situation causing the Price Cap to increase more than currently expected in January. I need to do some more Research before deciding the best way forward.

I wouldn't take too long if I were you. Wholesale prices have risen considerably in the past week - not just those for the period January to March, which will largely determine the price cap for that period, but also those looking further ahead, which make the most recent forecasts from Cornwall Insight for the four quarters of next year somewhat out of date. It would not be too surprising to hear that some or all of the fixes presently available have been withdrawn in the coming days.

Hi , where can you see that info? 

spot1034

barker77 said:

spot1034 said:

Profiterole said:

Thanks for the replies, appreciate them. Think my main concern is the Geopolitical Situation causing the Price Cap to increase more than currently expected in January. I need to do some more Research before deciding the best way forward.

I wouldn't take too long if I were you. Wholesale prices have risen considerably in the past week - not just those for the period January to March, which will largely determine the price cap for that period, but also those looking further ahead, which make the most recent forecasts from Cornwall Insight for the four quarters of next year somewhat out of date. It would not be too surprising to hear that some or all of the fixes presently available have been withdrawn in the coming days.

Hi , where can you see that info? 

Wholesale prices? This is the site I use. https://www.ice.com/products/910/UK-Natural-Gas-Futures/data?marketId=5419497

Click on a date to see historic info. Many other sources available.

barker77

Not sure I know enough about the topic to interpret that data. Hard to believe general public will want to pay much more than currently tho so suspect gov would keep cap similar - especially when providers are making so much cash… 

QrizB

barker77 said:

Not sure I know enough about the topic to interpret that data.

That's a fair statement.

barker77 said:

Hard to believe general public will want to pay much more than currently tho ,,,

What the public wants to pay is immaterial. Wholesale gas costs what gas costs.

barker77 said:

... so suspect gov would keep cap similar ...

Ofgem sets its cap based on a fixed and largely transparent process. If wholesale gas prices go up, it's almost inevitable that the cap will also go up.

The only time the government comes into it is when they set something like the Energy Price Guarantee.

barker77 said:

... especially when providers are making so much cash

Which providers are you thinking of? Saudi Aramco? Chevron Australia?