Is it better to fix my energy now...or after 1st July when the price cap goes down?

Flumpy23

My current energy fix ends on 26th June. I'm with Octopus currently paying Unit Rate 23.84p/kWh Standing Charge 46.78p/day (£170.75/year).

I've looked at Uswitch and spotted a great deal with Fuse. Fuse Energy May 2025 Fixed (18m) V2

Unit rate per kWh: 22.5698p

Standing charge per day:

Electricity - 44.34p

I'm wondering if this is a good deal now because they are already factoring in the cheaper energy set to come on the 1st July. Or, are they going to offer even cheaper fixed tarrifs in June/July? 

Any help/advice well and truly appreciated as always. 

Ayr_Rage

Your crystal ball is as good as any other.

Flumpy23

This was more aimed at people that may of been in a similar situation before - that could provide actually useful feedback. Apologies for not making that crystal clear. 

MeteredOut

Flumpy23 said:

This was more aimed at people that may of been in a similar situation before - that could provide actually useful feedback. Apologies for not making that crystal clear. 

But what has happened with people in a future situation before will have no bearing on what might happen in future.

Choosing a fix should be a decision based on your attitude to risk and to what level you need to know exactly how much your energy is going to cost over the next x months.

Personally, I'd not be locking into a fix deal with an exit fee, unless the saving on that fix compared to the next best non-exit fee rate, inclduing the expected fall in July, is greater than the exit fee. 

But if it has no exit fee, what is there to lose? EDF currently have a no exit fee fix.

Flumpy23

I understand that... but if 2 people reply and say, "I fixed before the cap changed and the month after - the fixed tariffs were far cheaper" 

And one person says "I fixed before the cap... and it didn't really change all that much" 

My attitude to risk - decision making - would be somewhat easier and ultimately decisive. 

I'm tempted to fix now with the tariff already being cheaper than what I'm currently on for sure. Especially with Octopus only offering a fix of 25p a month which is more expensive. Given they're known for cheaper energy I'm surprised at how many cheaper alternatives are going around these days. 

MeteredOut

Flumpy23 said:

I understand that... but if 2 people reply and say, "I fixed before the cap changed and the month after - the fixed tariffs were far cheaper" 

And one person says "I fixed before the cap... and it didn't really change all that much" 

My attitude to risk - decision making - would be somewhat easier and ultimately decisive. 

I'm tempted to fix now with the tariff already being cheaper than what I'm currently on for sure. Especially with Octopus only offering a fix of 25p a month which is more expensive. Given they're known for cheaper energy I'm surprised at how many cheaper alternatives are going around these days. 

Unless you're going to get tens-of-thousands of responses, I can't see how what has happened to others will help you. And even then, it could be different this time. Its akin to asking whether you should buy some stock based on whether it went up or down after others bought it.

And I'm not sure Octopus are known for cheaper energy on their SVT - its their time of use (Agile, Tracker) and EV tariffs where people get the cheapest average rates.

Xbigman

The OFGEM cap is mostly backwards looking so the summer drop is already built into current fixes. Waiting for the 1st of July is pointless in fixed terms. The real question is what happens next. I took the view that anything could happen with Trump on the rampage so I'd rather have a decent fix now and not worry about maxing any savings. 

I joined the Fuse tariff you're looking at. 18 months of security looked good. Fuse have been around a while. Their website seems no thrills but has all I want. Login is by OTP which was a surprise. Started the switch on the 2nd May, it went through yesterday (7th). I can't put in a meter reading but they have the smart meter reading already. 

Looks very efficient and straightforward. 


Darren

born_again

Flumpy23 said:

My current energy fix ends on 26th June. I'm with Octopus currently paying Unit Rate 23.84p/kWh Standing Charge 46.78p/day (£170.75/year).

I've looked at Uswitch and spotted a great deal with Fuse. Fuse Energy May 2025 Fixed (18m) V2

Unit rate per kWh: 22.5698p

Standing charge per day:

Electricity - 44.34p

I'm wondering if this is a good deal now because they are already factoring in the cheaper energy set to come on the 1st July. Or, are they going to offer even cheaper fixed tarrifs in June/July? 

Any help/advice well and truly appreciated as always. 

The way prices are going up & down. I just stay on SVR.
No idea if I'm a winner or loser £ wise. 
But at least I don't have the worry about fixing or not & if A is a better deal than B.

In reality given my situation. SVT suits my EV needs & more than happy with supplier 👍

Hopefully another view to help you.

Ayr_Rage

EDF's no exit fees tariff has been changing quite often, I signed up about 6 weeks ago to their Simply Fixed Direct July26, by the time it was pulled it was up to Version 8 and the latest version is May26.

It is available via to new and existing customers via Topcashback, who have just upped their bung from £50 to £75 for dual fuel, you forfeit that if you change tariff or leave with 3 months.

vic_sf49

If you fix with a tariff/company that has zero exit fees, you can fix, but keep switching to better deals.

I fixed with Octopus in December for my gas. I'm still on that tariff.

I fixed with Octopus in January for electric, and have changed tariffs 3 times I think (lost count), since then. I check the rates at least weekly.

EDF have had some with zero exit fees. Don't know which others.

GlitterMedusa

Do Octopus do retention deals? If so, it's worth haggling. 
I recently came up to the end of a good BG fix, and couldn't find anything cheaper other than Octopus agile for electricity and tracker for gas. Once I'd initiated the switch, I got a call from BG retentions. I explained how I got to my projected savings figure vs their best fix and they offered to credit more than that to my account. So I'm now on the Fixed v.63 and with a £150 bribe to stay (which is roughly 16% of my annual bill). I have an exit fee but only if I switch supplier, so if BG come up with a better fix later I can switch to that without penalties