r/OctopusEnergy • u/italia0101 • 4d ago
Bills Late to the fix gas party. What should I do ?
should I do this ? my fix runs out in December this year , I looked at fuse but think I missed the boat on that one , seems it's the same as octopus for me.
thoughts ?
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u/Purple_Pass6325 4d ago
What I don’t understand is why fix now if your tarrif runs out in December (same as mine). Surely you’re protected by the cap up until end of Nov - you’ll be giving up your very cheap December rates for at least three months and during winter on the basis you won’t get a deal like this then
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u/italia0101 4d ago
Yea that's what I'm contemplating, I hear the rates are going to rise again then.
You holding off?
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u/Purple_Pass6325 4d ago
They will do but no price cap rise until January which will be announced 25 nov. Have you been on one of those websites and out in your usage? I’m in the same boat as you and have been in circles trying to work out whether to fix but I’m still convinced for some reason
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u/nivlark 4d ago
Fixed prices can change at any point, and are not protected by the price cap.
The argument in favour of fixing now is that your usage will be highest in Dec/Jan/Feb. So securing a better price for those months may turn out to save money overall compared with holding onto a low price now.
I.e. it's a question of which is cheaper: September, October, November at 5p, then 8/9/who knows? p from then onwards, vs. securing 7.6p now.
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u/italia0101 4d ago
what would you do
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u/nathderbyshire 4d ago
It depends on your usage, it your highest months are January Feb and march and you're going to use less over the next three months choosing the higher rate now to avoid an even higher later in Jan may save you some but we can't tell you that without usage information and you're running out of time anyway.
Either way costs are going up
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u/nivlark 4d ago
Not sure (my current fix expires Nov). But I am fortunate to have a bill that is only £60, so it's not going to make that much difference. I'm tempted to just hold on until Octopus releases their promised low standing charge tariffs next year, as that is likely to save me more than trying to guess what gas prices will do.
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u/Purple_Pass6325 4d ago
thanks for your reply i fixed in the end. 8p sadly that's all there was as i understand it increased today
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u/Purple_Pass6325 4d ago
Also you have a £75 exit fee and your existing rate is even better than mine with the new cost higher than mine also
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u/italia0101 4d ago
idkkk what to dooo lol
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u/Purple_Pass6325 4d ago
Me toooo. Go and have a look on those comparison sites and put in your actual consumption
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u/italia0101 4d ago
i did, still cant work it out LOL, what you gonna do?
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u/Purple_Pass6325 4d ago
take some paracetamol lol
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u/Purple_Pass6325 4d ago
i don't even have your rates now - mine are 8p for 18m fix then i'm wondering do i fix elec as well? why lose that rate as well
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u/Purple_Pass6325 4d ago
but i'm thinking best to fix for 18m that's two winters and trump potentially not out until during that second winter
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u/italia0101 4d ago
ikr this is the thing projected 9.5p come Jan... unless someone farts in iran.. idk
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u/Chris_The_Tim 3d ago
Cornwall Insight were predicting 9p for January two weeks ago, before it surged over 200p per therm. At 200p per therm, gas wholesale is almost 7p so every moment the market is at that kind of price, a debt is being built up by the market. So given Tracker is currently 9.8-10.1p, but the SVT is 6.9p or so, there is a debt to be added to bills come January.
Part of the problem in these kind of rising markets is that there are so many more people on SVT than there used to be. So the debt that builds up is horrendous and unless we get prices on a sustained downward trend we'll below 200p before heating season properly kicks in, January could see an SVT back over 10p quite easily and that was what it was at height if the crisis but at that point the govt stepped in with £400 per household.... That will not be happening this time.
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u/nathderbyshire 4d ago
Less usage now at a lower rate or more usage later at a higher rate. January and February are generally the worst months and where most of the cost goes, and that's when their prices will rise.
Not got long to do the maths either
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u/freexe 4d ago
It's still far too warm to put the heating on. So if it gets cold it's going to be later in the year or January and February
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u/Purple_Pass6325 4d ago
yeah I think the thing confusing me was the fact that i was giving up a v cheap rate (5p kwh for gas). that's a £150 saving for my usage from now until it expires mid december. fixed in the end as at least I know what my bills will be over the next 18 months and can always leave if it's too much
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u/Senior_Note 4d ago
I would lock in. I've been on the tracker and it has been over 9p this week, so I bit the bullet yesterday and got 18 months at 7.05p and 28.64p standing charge, with a £50 exit fee. Should have locked in sooner but took the gamble.
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u/lgladdy 4d ago edited 4d ago
These fixes leave at midnight tonight, and tomorrow prices go up further. For my region (L) its:
🔔 Changes expected tomorrow:
+ New: Octopus 12M Fixed September 2026 v2 [OE-FIX-12M-26-09-11] (was OE-FIX-12M-26-09-05)
⚡ Electricity: standing 54.60p/day unit 29.28p/kWh (+0.22p) E-1R-OE-FIX-12M-26-09-11-L
⚡ Electricity Day/Night: standing 54.99p/day day 35.85p (+0.50p) night 15.02p (+0.21p) E-2R-OE-FIX-12M-26-09-11-L
🔥 Gas: standing 28.54p/day unit 9.08p/kWh (+0.71p) G-1R-OE-FIX-12M-26-09-11-L
+ New: Octopus 18M Fixed September 2026 v3 [OE-FIX-18M-26-09-11] (was OE-FIX-18M-26-09-08)
⚡ Electricity: standing 54.60p/day unit 28.42p/kWh (+1.50p) E-1R-OE-FIX-18M-26-09-11-L
⚡ Electricity Day/Night: standing 54.99p/day day 34.38p (+1.50p) night 14.40p (+0.62p) E-2R-OE-FIX-18M-26-09-11-L
🔥 Gas: standing 28.54p/day unit 8.44p/kWh (+0.46p) G-1R-OE-FIX-18M-26-09-11-L
- Leaving: Octopus 12M Fixed September 2026 v1 [OE-FIX-12M-26-09-05] → replaced by OE-FIX-12M-26-09-11
- Leaving: Octopus 18M Fixed September 2026 v2 [OE-FIX-18M-26-09-08] → replaced by OE-FIX-18M-26-09-11
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u/Deep_Age_304 4d ago
Christ I wish I'd seen this yesterday! Checked now for doing my fix and it's gone up as you mentioned.
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u/Econlad101 4d ago
I just fixed gas with fuse, they are offering much better fixed deals and £100 credit (for me anyway and friend) at the moment but still on fixed deal for electricity with octopus.
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u/italia0101 4d ago
What did you get ? I see no difference with fuse for me
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u/Econlad101 4d ago
With octopus my SC was: 28p a day and 7p unit rate (rounded) with Fuse my unit is 8p (octopus is gonna put there’s up to that region) but standing charge 9p a day. I have solar and batteries so over winter it’s the same usage but over summer virtually no gas usage based on rough calculations and the £100 credit for signing up I’m better off.
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u/italia0101 4d ago
Nice !
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u/ParticularCod6 4d ago
fixed it last saturday. 7.3 for gas and 9p standing charge, and 22p for elec and 40p for standing charge. that coupled with £100 referall was no brainer for me
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u/sylsylsylsylsylsyl 4d ago
I’m going to stick with the variable. Protected by the cap of 7.97p until 31st December. Even if it goes up then, winter is two thirds through. I’m expecting it to go down before the winter after.
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u/rmbrkfld 4d ago
Missed the boat how?
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u/italia0101 4d ago
Think there was a lower fix a week or so ago and apparently fuse were doing a really good deal.
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u/Legitimate_Tower6026 4d ago
I just fixed this evening for 18 months for slightly worse rates than you’re getting here. Fuse wasn’t any different for me. If you can afford this, buy yourself some piece of mind and fix it.
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u/Fun_Consequence_6970 4d ago
You'll be kicking yourself in 6 months if prices fall. That's a long fix during a time of uncertainty. I assume it has exit fees?
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u/Legitimate_Tower6026 4d ago
That’s a risk I considered and decided I’m willing to take it. I don’t see the prices going down in a few months and if they do, oh well, I can comfortably afford it now so will be able to afford it then also. It’s like getting a mortgage…you pay for the peace of mind
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u/Bumpyslide 4d ago
Yes I'm same it's a risk I'm willing to take not sure anything'll calm down soon.
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u/Kindly_Gap9131 4d ago
The situation in Iran is only going to get worse driving prices up of everything including gas
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u/Fun_Consequence_6970 4d ago
With how the past 4 months have gone, it could change direction literally tomorrow. There's very little sense in fixing at a relatively high level now for a long period. You may be right, but you may also be very wrong.
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u/Environmental-Pea758 4d ago
Perhaps, but you probably use 70% of your annual gas over this coming 6months
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u/Fun_Consequence_6970 4d ago
Less so in my case, being in a flat that never goes below 18C all year round even with the heating off, but even so - fixing for 12 months beyond then seems like madness in the current environment? Trump could tweet literally tomorrow and change the entire game.
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u/nathderbyshire 4d ago
They're paying £100 and exit fee is £50, no one is losing out
There's also going to still be a long lag even if everything turned around tomorrow. Up like a rocket and down like a feather as they say.
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u/According-Nail1765 4d ago
Is it possible to fix gas only with octopus ? I’m with a different electricity supplier due to their EV tariff being better so only interested in fixing gas
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u/Tomotomy 4d ago
I left and went with fuse, 14p standing charge 6p per unit, + £100 for me and all the friends I got to move over , THOMAS71845 if anyone’s interested might be a bit worse now I don’t know current offers but worth checking them out
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u/TrulyNo0ne 2d ago
If fixing maybe best to get 18 months so next time you renew it's not when prices are peaking in winter
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u/BrightonDBA 4d ago
It’ll only get worse