Don't take a Fix !?

JSHarris

Not sure why you seem to be taking umbrage with me, @Scot_39 , I am not being in any way argumentative (as it seems you want to be), I'm just presenting information that I hope may be of use to others (clearly not you, though).

There is a fixed peak/off-peak ratio used by Ofgem, as you probably know.  That ratio is 58% peak versus 42% off-peak.  That ratio is used to calculate the price cap.  Some suppliers are adjusting that ratio a lot in winter (and they do it every winter, not just this one) so that they can artificially lower their advertised peak price.

Yes, it is a marketing ploy, and yes it is a calculated method to increase profits from off-peak prices during a period when customers on E7 will be using more off-peak electricity.

It is not a fair and equable pricing strategy, as some suppliers (notably UW, Sainsbury's and E.ON in the group I've looked at) do not do it, they apply a broadly similar % increase to both the peak and off-peak prices, pretty much sticking to the Oftgem 58/42 split.

Obviously I can (and will) move supplier to get around this, as, I hope, might others in the same position.  It's still a faff though, especially as there is no guarantee that any supplier I switch to won't decide to try the same marketing tactic themselves before long.

MultiFuelBurner

In the mean time this tug of war has mullered another post. Perhaps go to personal message to hash out difference?

Back on track I do see the opportunity for very good fixe rates for both SVT and E7 this summer given the predictions and night rates akin to those fabled Eastern rates.

If they offer a fix near those rates then that could be the time to fix Summer 2024 (predicted with my crystal ball after a few Christmas lunchtime tipples?

JSHarris

I tend to agree, but am cautious about next winter.  My gut feeling (and that seems as good as any modelling!) suggests that next autumn may be a repeat of this one, with prices relative to the same period in 2023 being a fair bit lower.  If that is the case then fixing in the summer may not be such a good bet.

Frankly it's anyone's guess as to what may happen, though.  If I needed to have a planned spend over the next year I'd fix, even if it did mean paying slightly more.  Fixing certainly makes budgeting easier, especially if the fix period covers next winter.

pete-20-11

I wasn't sure if I could fix my gas on loyal octopus whilst been on intelligent flux for electricity.

Never got around to asking them.

Wasn't sure wether to fix - it would cost me more for December, but save some money Jan to end of March. Sticking for now. 

Probably should have gone tracker for gas, but was nervous about how high it could go. 

JohnB47

EssexHebridean said:

MikeJXE said:

I fixed with Octopus in September, the fix was the same rates as the variable of the time so I win on the January rates 

From April to September I won't be using any Gas and my electric use is almost constantly 11kWh per week so I can't see me being any worse off 

I have no regrets 

This is pretty much me too - albeit my fix was a bit later than yours. 

Yep, same as me. Based on current predictions, I may pay a bit more over the year but I'm not worried. Then again, events take precedence over predictions and past events have proved costly and unexpected.