Fixed energy deal coming to an end, fix or not?

[HaveYouHeardOfARoadAtlas]

So very lucky I know but I fixed just before prices went crazy. Ovo have emailed me and said I can go to variable or fix for a year at exactly the same price as the variable. So guess it’s a gamble if prices will go up or down. Martin Lewis website doesnt seem overly sure either way. 🤷‍♀️. It’s going to be a noticeable jump up whichever option.

That fix looks expensive to me?

Octopus fix on offer looks a bit better and is a bit lower than their variable, suggesting they think prices will go down?

p.s. you can use my referral link for £50 off if you end up moving to Octopus: https://share.octopus.energy/glad-seal-912

Thanks, just got a quote from octopus and their electric unit prices are more than ovo It’s a different tariff to the one in your photo I think so guess that’s not available to me as they’ve only offered me one tariff

We are in the same position and have decided to fix. Partly because we will know exactly how much we will spend and partly because Mr P will probably have a couple of aces up his sleeve once winter comes.

I work in the industry and all projections are a lowering of the cap. I would not suggest to fix at this time, SVT tariff is the way forward.

I also wouldnt fix just yet. I think it is going to be reduced in sept/october

Whichever fix they offer right now, it’s mostly rubbish, so you’re better off staying on variable.

We have fixed. Prices might drop but there have been noises about Australian gas strikes affecting European gas prices. Plus the war is still going on which could trigger a rise if they use gas supplies as a tactic again. Bottom line is I can afford the fixed rates comfortably - another big rise is another story.

Following with interest as I'm now in charge of my mum's energy. Her fixed rate comes to an end at the end of august and the offer of a fixed rate is quite steep. That's with octopus. Eon are slightly less. Previous tariff was extremely low. Comparison sites aren't showing much difference.

Prices are going down 1st October, so don't fix before then.

Yeah. We fixed in the November before all the craziness with Eon. They're offering 175/month dual fuel now.

We're going to hang fire until the last minute.

Any fixes available now will take into account the expected drop in prices in October. Also the expected increase next January.

Then from April next year, no-one knows, but as you'll likely use more energy between January and March than October to December, if you can fix below the current prices, it could work out cheaper, and is likely to be no more expensive. Plus if you fix now, you pay less between now and the end of September.