[Finance] Is it time to look at fixed rate prices for gas & electricity

[bluenitsuj]

I came off a fixed last week, the new fixed rates were line (+-£100) with the standard variable rates on British Gas. This was the day before the energy price cap for January 2024 was announced but can’t see that having too much swing on the SVR

Only 2 of us in our house and our average is well below the UK average that is often used for the price cap.

 

[Billy the Fish]

as a matter of interest what sort of rates did you get.

Sorry only just saw this.

With Octopus - 28.97p/kWh 45.57p/day for 12 months

I haven't checked to see how that compares with other rates, its more the peace of mind to know it won't go up this winter and I can budget accordingly.

 

[LamieRobertson]

Now the price cap for the next three months has come into effect I’m revisiting the idea of fixing for either the next 12 months or 24 …I’m currently with OVO

Anyone else giving this consideration as the long predicted fall has come into being.

 

[Weststander]

Now the price cap for the next three months has come into effect I’m revisiting the idea of fixing for either the next 12 months or 24 …I’m currently with OVO

Anyone else giving this consideration as the long predicted fall has come into being.

Didn’t it come into effect on the 1st?

With fixing, late summer often seems good, when all the experts optimistically forecast a winter of lower bills. Which then goes wrong in October as Putin and OPEC+ via Cornwall Insight spread gloom.

 

[LamieRobertson]

Didn’t it come into effect on the 1st?

With fixing, late summer often seems good, when all the experts optimistically forecast a winter of lower bills. Which then goes wrong in October as Putin and OPEC+ via Cornwall Insight spread gloom.

Yep it did …and the quotes I’m seeing take this into account ….maybe early summer would be a better idea …obvs dependant on predictions coming true, availability of fixes and world events

Latest from MSE

 

[nicko31]

Prices on the move again, though being the summer period there will be less impact.

The sooner we get the link between utility prices and global fossil fuel prices broken the better

Price cap: Energy bills to rise by more than expected in April

Regulator Ofgem outlines the change in gas and electricity prices from April, affecting 26 million households.

www.bbc.co.uk

 

[LamieRobertson]

Prices on the move again, though being the summer period there will be less impact.

The sooner we get the link between utility prices and global fossil fuel prices broken the better

Price cap: Energy bills to rise by more than expected in April

Regulator Ofgem outlines the change in gas and electricity prices from April, affecting 26 million households.

www.bbc.co.uk

well if MadMili authorised those North Sea licenses we wouldn’t have to worry about importing so much …especially when the sun doesn’t shine or it shines too much…or the wind doesn’t blow or blows too much

 

[Weststander]

Don't get confused by all this publicity, don't take any action if you currently have a fixed rate deal taken out last year . Covered by Martin Lewis 26 minutes into his ITV programme this Tuesday evening. He was clear, those prices will be significantly lower than the new fixes people are rushing to now.

The publicity is for those on 'price cap' contracts.

 

[WATFORD zero]

well if MadMili authorised those North Sea licenses we wouldn’t have to worry about importing so much …especially when the sun doesn’t shine or it shines too much…or the wind doesn’t blow or blows too much

Well, you've lost me

I didn't even know they'd made a comeback

Or did you start early

 

[GT49er]

Could do with some sort of fixed price deal on water too - 35% increase this year!

 

[LamieRobertson]

Could do with some sort of fixed price deal on water too - 35% increase this year!

I’ve yet to receive my letter from SWA ….not looking forward to it.

received one from my HA ….rent increasing as per normal April
not received water rates as above
read that VM increasing rates (even mid contract) come April
not received council tax bill which we all know will increase in April
also in April I think I am right in saying vehicle road tax is going up

have I missed anything?

 

[GT49er]

I’ve yet to receive my letter from SWA ….not looking forward to it.

received one from my HA ….rent increasing as per normal April
not received water rates as above
read that VM increasing rates (even mid contract) come April
not received council tax bill which we all know will increase in April
also in April I think I am right in saying vehicle road tax is going up

have I missed anything?

Hopefully not - but the firms that hold our Direct Debit permissions will no doubt be looking to see if there's something they've missed to screw a bit more out of us!

 

[Weststander]

I’ve yet to receive my letter from SWA ….not looking forward to it.

received one from my HA ….rent increasing as per normal April
not received water rates as above
read that VM increasing rates (even mid contract) come April
not received council tax bill which we all know will increase in April
also in April I think I am right in saying vehicle road tax is going up

have I missed anything?

Literally only just found out, a 47% Southern Water increase from 1 April. Is this a fact?

Water bills in England and Wales to rise by average of £10 per month

Households now have a much better idea of their bill increases from April, which will rise at a time when many other bills are also tipped to go up sharply.

news.sky.com

 

[LamieRobertson]

Literally only just found out, a 47% Southern Water increase from 1 April. Is this a fact?

Water bills in England and Wales to rise by average of £10 per month

Households now have a much better idea of their bill increases from April, which will rise at a time when many other bills are also tipped to go up sharply.

news.sky.com

This is from 3 days ago released by SWA …..they have asked OFFTWAT to increase bills 92% by 2030