AIBU to ask: Is anyone actually fixing their fuel prices?

[FrankWelker]

Posted on here for traffic
Is anyone actually fixing their fuel prices at these exorbitant prices? We have been quoted over £699 per month for dual fuel with Scottish Power.
Or are people just not fixing and going to use less??
Really stuck with what to do!

I'm the same. We fixed last September when everyone said not to. But we actually avoided the hikes in October and April. So it paid off.

I've fixed this September again. We were quoted an increase of a third. I was annoyed at first, but its nowhere near what others are being quoted now. So I'm hoping I've done the right thing again.

Although with Utility Warehouse you need to take other products as well not just gas and electricity

I fixed at 57p per kwh for elec and 16p for Gas. The deal was pulled that day and the next fix was 68p for elec!
It’s 3x what I was paying last year and 85% more than the current cap.
If electric does go up to 90p in January as predicted, then I’ve done the right thing - I’m kicking myself for not fixing earlier when it would have cost £70 a month less.
Standing charges are outrageous and should be cut right back.

My DH also suspected that Martin Lewis was wrong when he was saying don’t fix. To be fair I think ML hoped the government would do a bit more. But we had to wait almost 2 months to fix until we’d found a new home and moved in as we were in the middle of being evicted by our landlord (section 21 wanted to sell). The energy companies wouldn’t let us do a contract until after we’d physically moved in despite having the tenancy agreement all done and locked on. Anyway, he fixed for 2yrs the beginning of July. I just asked him to write down the rates and they are

Electricity
42.93p KWh
37.92p per day

Gas
12.99p KWh
27.22p per day

The DD amount is £402/mo and is based on the usage of the prior tenants. So no idea really what our actual usage will be as this home is far more energy efficient than our last home. Hoping we can bank a bit of credit before winter starts.

I've just fixed at 62p electricity and 15p gas (32p and 27p standing charges) from end of September which works out at £280 per month. I managed to get a really good fix in September last year so that's going to be almost triple what I'm currently paying. There are no exit fees though so I'll keep an eye on prices.

@Freddiefox

I used Martin Lewis’s calculator.

Yes I've fixed. The prices were cheaper than the predicted, plus no exit fee

Here's the predicted prices/unit cost
I used the Martin Lewis calculator

The fixed rates being offered seem startling but check the kWh and standing charge prices and use the calculator
It's going to go up - but I fixed because it's paying a higher rate vs paying a v high rate

So let's say (numbers out of thin air) electric is 50p kWh on the offered fix, you currently pay 20p kWh so think FUCK that's £££ I'm staying on the variable which is 40p kWh
But the estimated price it could go up to is 75p kWh so you're actually better off to fix and pay the 50p

I fixed for 2 years back in September so have got the following rates until Sep 23. Hoping it’s all over by then.

Electricity
unit rate 18.874 p/kWh
standing charge 22.964 p/day

Gas
unit rate 3.772 p/kWh
standing charge 24.879 p/day

No

That is high

I get what you mean it’s hard to know

My provider who I got bumped to when my other one went bust has no fixed rates and I havent found anyone taking new customers on fixed rates. At the end of the day I won't be able to afford a fixed rate tariff or any more price increases so there comes a point where there is no point worrying about it, you can't get blood out of a stone no matter how hard you squeeze.

I just said that to my dad today
My management company want £160pm for the apartment maintenance and then said they had a deficit PER FLAT of £440 and we all had to pay within 28 days
I've found out they have the gardeners contracted for 26 visits a year
My garden is literally a dust pit so I've emailed them to sort their shit out as 26 visits is ridiculous

TLDR, I'm prioritising mortgage, council tax and utilities and everyone else can wait

We are serial fixers, so have 26p pkwh ish elec, 6ish gas til Sept23, would have been 20% lower if our fix had run out a month earlier, but who knew...

I usually fix but it ran out last November and nothing else was on the table.

I took Martin's advice

We were offered a fix of £241 an increase from £110. I didnt fix as at the time the advice was not to fix, but by the time I decided to fix that offer had increased by a further £100.

So I have fixed at £344 but have reduced the DD currently as i wont pay that amount unless I really have to.

We were too. We decided to ignore Martin Lewis. Thank goodness we did, we’re fixed at £241 until October next year.

So can I just check..

1. This is predicted?

2. and Q stands for quarter?

3. and in Q2 so March onwards a kilowatt of electric will cost 75.7p?

I’ve got a job lot of candles, and some super thick blankets. Other than that, I’m a bit fucked 🫣

using this?

This

Are all the non-fixers ending up subsidising the fixers?

Yes. Well as much as they can predict it
It depends on what the government do as well fuck all

Sorry to keep posting.. but March 22 I use 274kwh @ 19.5p so 52.47 at 75.7 for the same amount it will be £207? Not including standing charge and gas charges

Yep exactly

Which is why they're saying if it's a decent rate fix it's possibly worth taking it