I lost my nerve and have fixed

bristolleedsfan

spot1034 said:

northernstar007 said:

right folks i am in 2 minds doing the tracker or octopus fix
i am with sp right now offering higher price tariff fix for 12mths
my current tariff is up in end jan24, paying lot less dc (41p) combined but over 8.2pk/w gas and 28.7p elec
ive asked in sp chat that i wont be charged exit fee if i go to there std tariff, but there is £30 per fuel if i jump straight to octopus, so shall i start the ball rolling and go onto std tariff with sp, and then sign up with octopus

As for the Octopus fix, I believe someone posted earlier today that it might not be possible to go on to a fixed deal with Octopus immediately after joining them. 

Same person posted on another thread  contacted Octopus again and was told can change to a fix immediately after joining them which I believe is correct answer

northernstar007

eh.. think you have me mixed up with someone else

bristolleedsfan

northernstar007 said:

eh.. think you have me mixed up with someone else

Just to clear up any confusions 

 

EssexHebridean

We’ ve also just taken the decision to fix. In the light of the current predictions being for an increase in rates when the next cap is set, and the fact that we’ll see no change in rates for the next few months anyway, the added certainty just felt like the right thing to do for us.

MultiFuelBurner

northernstar007 said:

right folks i am in 2 minds doing the tracker or octopus fix
i am with sp right now offering higher price tariff fix for 12mths
my current tariff is up in end jan24, paying lot less dc (41p) combined but over 8.2pk/w gas and 28.7p elec
ive asked in sp chat that i wont be charged exit fee if i go to there std tariff, but there is £30 per fuel if i jump straight to octopus, so shall i start the ball rolling and go onto std tariff with sp, and then sign up with octopus

Yep definitely get the free transfer to std price capped tariff. Then you can move to Octopus with no penalties and normally within days.

franksidebottom

I don't see this as you having lost your nerve, with everything that's going on in the world it is the sensible choice to fix in if you are risk averse. Likewise I fixed in for 2 years this week (having rolled off my previous 2 year fixed deal), as there is just far too much uncertainty at the moment. Amateur economists on social platforms can talk about Octopus being the go-to or "no brainer" options and refer to wholesale gas price history all they want, but the fact is nobody, NOBODY, knows what is around the corner.

alanwsg

I've been pondering the "Loyal Octopus 12M Fixed" tariff and decided to go for it today, and it's changed significantly.

Still £150 exit fees but gas & electric unit rates have gone up by around 8% & 11%

Drat!

EssexHebridean

No longer aligned with the current cap prices? 

alanwsg

Gas now 7.46p (Was 6.92p)
Electricity now 31.4p (Was 28.1p)

Ally_E.

I already fixed back in August when my previous fix was about to expire. Not fixing was saving me only £20 if everything went well and Cornwall predictions came true. I wasn't willing to take the risk as I waited back in 2022 to fix and regretted not getting on it sooner.