So Energy 2 yr fix

JJforever

I noticed that So Energy have a 2 yr fixed rate deal.

Is it a good idea to fix for 2 years or would it be better for 1 year only? I realise no one has a crystal ball but they are saying the prices are going to go up in April as well.

Just wanted to get people's opinions

Thank you.

MikeJXE

I am a low user on a 12M fix with Octopus 

With whats going on in the world I would go for 2 year fix if it looked reasonably even if only to give me peace of mind 

northernstar007

there are not bad rates, the £75 exit per fuel is the downside, my gas fix till next boxing day is 5.52 on the 2 yr deal is 5.70p, very tempting if your coming upto to your renewal

MattyKHZ

I usually swap every year, a few years ago I went with Sainsburys energy and a 2 year fix as it was only £5 a month more.  Was the best thing I ever did as prices went crazy.

Having been on Octopus Tracker since October 23 I looked at recent bills and past few months have been more than the price cap.  This years tracker has higher costs than last year and is no longer worthwhile this time of year.  Maybe if wholesale costs drop in future but who knows if that will happen and when.

I ended up switching to outfox the market who offer both 18 month and 2 year fixes with no exit charge.  So if wholesale prices sort themselves out I may eventually go back to octopus and their tracker but if they don’t, stay where I am, fixed for 2 years.

MattyKHZ

Forgot to add my cheap energy quote based on my usage showed 18 month fix with OTM cheaper than 12 month So Energy Fix.  Based on 2 year fixes I am paying £7 a year more but the difference in exit fees are where it matters most. £150 vs £0.

Badboi

Outfox have got 12m/18m and 24m dual fuel zero exit fee options when I ran them just now - reviews of the company don’t seem too bad either (currently on octopus tracker ending soon)