Are people fixing gas/electric prices?

[Legalwomble]

I’m on flexible Avro and pay £90 pm, I’ve just asked about fixing and have a price of £188 pm

This is what they are offering. It’s quite a lot higher than I have obviously, but I also will struggle to afford almost £190pm, and I assume they will just put that up some more if I’m using more than expected.

I know a load of people off the Internet can’t decide, I’m just wondering if this is the kinds of prices everyone else is getting and what people are thinking?

I guess I’m just concerned help may appear and I will then be stuck on this tariff??

I pay £120 at the moment of actual usage and in October they suggest £700 based on what we use😱

Is that for a fix or on the variable rate?
Are you in debit or credit?

I've just fixed at 141% higher. Gone from £117 to £297. It's hard to know what to do for the best..

I think on those prices you should stay on variable. Also look at anything you can do to reduce usage and if you are on benefits/a low income or have elderly or otherwise vulnerable people in the house, see if there are any extra grants you are entitled to.

Keep an eye on what Moneysaving Expert are saying.

www.moneysavingexpert.com/utilities/-are-there-any-cheap--fixed-energy-deals-currently-worth-it--/

But also you might be able to reduce that DD as your credit is very high. Have a look at the Octopus balance forecast in your account which shows how they think your balance will vary and what they think your DD should be. You can reduce your DD online, or if you prefer, I think you have to ring up to ask for your credit back, I'm not sure about that, our account is in debt by about £200 (Octopus were slow to increase our DD and missed a month's payment when we transferred over from Avro, it's getting back into the black slowly now)

It is really difficult. I do feel with £500 credit (which I have) I could potentially ride out some of the winter, but it’s still going to involve being more frugal than last year (and last year I was really frugal.
I just don’t have nearly £200pm for the gas and electric.
I keep hoping someone is going to sweep on and do something but my hopes are diminishing by the day

I fixed the other day at £146 after reading that Russia was limiting gas supplies to Europe still further.

Octopus were offering £179 two months earlier so I took the £146 - this is only going one way as Russia wages economic war on Europe, and that ain't down.

I was paying £53 a month up to April. ...unreal.

I wouldn't have fixed at 141% higher as that's almost double the predicted price cap rise

www.moneysavingexpert.com/utilities/-are-there-any-cheap--fixed-energy-deals-currently-worth-it--/

This says:

If you're offered a year's fix at no more than 70% above your current price-capped tariff, or 75% more if you very strongly value budgeting certainty, it's worth considering

It's so stressful isn't it and so hard to know if you're making the right decision.

I fixed last year when all the advice was not to and I'm glad I did but I don't think I'll do it again, our supplier isn't even offering a fixed. We use way too much gas in winter as we both work from home and put the heating on so we'll be working on bringing that down but appreciate that a lot of people are already doing everything they can!

Octopus lets you adjust your direct debit up and down. You can email to request a refund of a credit balance too.

Fixed at 4.247 (37.925 standing charge ) gas and 20.82 (36.267 standing charge) electricity until October 2023. When I signed up I got £60.00 in nectar points and I get between £2 to £3 in nectar points every month too. Everyone at the time was telling me not to fix but I decided to do it anyway.

This is exactly what we did too.

So this is the crystal ball thing. I’ve just upped my DD to their suggested amount (£111.00) the winter months are going to hairy, but I do have credit.
I think that’s based on current prices though (I think) so I don’t know if that £250 will become £500!!

How many here are planning on cutting right down on gas and just paying the standing charges and the very minimum?
For those who live alone and have no kids it might be easier. I'm planning on using not much more than the standing charge which in itself is going to be extortionate.

Why aren't we all rioting in the street!!
I'm disgusted by my new price I have all eletric but I'm so careful... Now you will see people dying you think covid killed people this is bigger than that.
Suicide will rise!

Unfortunately I have 3 youngish kids, I didn’t put the thermostat up above 16 at all last winter, I’ve overpaid and tried to get a buffer, but our house is rented and draughty and very cold, I cut it down to the bare minimum but then we started to get damp.

it’s really miserable, I work my guts out and I can’t even switch the heating on now!

I really wouldn’t put too much faith in Money Saving Expert. Their (Martin Lewis..) advice has been abysmal…they advised against fixing nearly a year ago, when a quick glance at the fundamentals would have clearly indicated that advice was bonkers. Millions are out of pocket because of their so called expertise.

Where we are now is a weakening currency (oil / gas mainly USD priced) which would indicate upward price pressure, global economic slowdown (downward impact on price) short term supply problems (upward price pressure) and an EU that’s on the back foot with no plan (upward price pressure). I fixed last year for 3 years. Today I’d happily fix for 12 or 24 months…there’s more economic and political upwards price risk than down in my opinion. But, your view mIght vary…

My standing charge for gas and electric is approx £26 a month combined. I'm planning on reducing the amount of gas we use and dressing warmer but will still have the heating on, just not as high as normal.