I lost my nerve and have fixed

Netexporter

Krakkkers said:

Neither Israel or Gaza have any oil?

But nearby countries do. And the Suez canal is in an adjacent country.

Gerry1

fronty said:

I'm currently on Octopus variable rate tariff - with news of the gas wholesale price rocketing, war in Israel, Ukraine still rumbling on and a spike in demand due to cold weather (with winter coming anyway), I think gas prices are only going to go one way... up!
So even though unit rates are still really high (historically), I'm bailing and fixing for 12 months - the Octopus fix seems to use todays SVR rates, it just locks them in for 12 months.
Anyone else considering it?

I've taken the bait as well for gas.  Any price reduction is likely to be small and won't kick in before April when summer consumption will be much lower.  But given the known unknowns of world politics plus the unknown unknowns, the risk of a big increase in January seems quite high.

The Octopus standing charge is lower than the cap, and I really like Octopus, so I doubt that anything fantastic is likely to be offered by another company.

And if by some miracle there's a price crash then the £75 exit fee means there's still a viable escape route.

M25

Krakkkers said:

Neither Israel or Gaza have any oil?

Israel has lots of off-shore gas (Tamar, Leviathan and Karish fields) which has been pretty much shut down from what I read. Israel is almost self-sufficient as a country energy-wise. There's a new part EU funded pipeline too going from Israel to Cyprus.

Any bad news on gas supply affects everyone as it's used to produce electricty in the UK obviously.

There was another major gas supply line blown up going to Finalnd on the 8th of October and barely a mention in the news https://www.bbc.co.uk/news/world-europe-67106799

I almost fixed a deal a couple of days before that and -just for fun- I checked on the 10th and 5 of the 6 the fixes had disappeared from BG.

Makes sense for people to fix especially if you have high use or just like worrying in general.

spot1034

Disruption to gas supplies anywhere in the world at the moment could significantly affect the price, especially if Europe starts to deplete its stocks and needs to top them up. With supplies so tight and the threat of disruption, the severity of the northern hemisphere winter could have a material effect on the price of gas next year.

Gerry1

Sent an email to Octopus at 10:59pm last night asking to switch gas to their Loyalty 12-month fixed tariff.

Confirmation received at 8:31am that it's all done and dusted.  No messing around with waiting on hold or endless slow chats, just brilliant customer service again from Octopus.👍

la531983

Gerry1 said:

Sent an email to Octopus at 10:59pm last night asking to switch gas to their Loyalty 12-month fixed tariff.

Confirmation received at 8:31am that it's all done and dusted.  No messing around with waiting on hold or endless slow chats, just brilliant customer service again from Octopus.👍

Bet they wont be as quick to move people off Tracker or Agile should they ask over the next few weeks....

Gerry1

la531983 said:

Gerry1 said:

Sent an email to Octopus at 10:59pm last night asking to switch gas to their Loyalty 12-month fixed tariff.

Confirmation received at 8:31am that it's all done and dusted.  No messing around with waiting on hold or endless slow chats, just brilliant customer service again from Octopus.👍

Bet they wont be as quick to move people off Tracker or Agile should they ask over the next few weeks....

Perhaps, but at least they tell you it may not be instant so it won't be a surprise.  Better than keeping quiet or promising something they may not be able to deliver.

I just like Octopus because everything goes like clockwork.  It's an aggro-free zone, which is a very refreshing change compared to the traditional suppliers.

pfpf

like others Gas is the main issue. and savings so far (since Feb) could be blown away in a heart beat if the worst happens. i'm hoping to make it to November 23rd (next cap announcement) before making a choice. savings in summer are irrelevant as its near zero use for us.

Westertonbilly

I fixed last month with Shell, simply for price certainty in this uncertain world.

confused.com2

fronty said:

I'm currently on Octopus variable rate tariff - with news of the gas wholesale price rocketing, war in Israel, Ukraine still rumbling on and a spike in demand due to cold weather (with winter coming anyway), I think gas prices are only going to go one way... up!

So even though unit rates are still really high (historically), I'm bailing and fixing for 12 months - the Octopus fix seems to use todays SVR rates, it just locks them in for 12 months.

Anyone else considering it?

Had the same thoughts and also with Octopus and decided to fix last week. So much going on with Ukraine and Israel etc and it'll be any excuse to up the prices.