There’s been an ongoing discussion about this since December here, where you may find some food for thought.

Meanwhile, I’m a bit confused by the figures you show for your current variable tariff. The standing charge for electricity would suggest that you’re either in the north of Scotland or in the South West, and paying on demand rather than by Direct Debit (DD). Since there isn’t too much gas around in far North Britain, I’m guessing Devon or Cornwall. Either way, you could save perhaps £150 a year by changing to paying by DD.

Last, I think the data Ofgem use to fix the second quarter’s price cap will be finalized next week, so we’ll have a much better idea of what to expect. At the moment, Standard Variable Tariffs are expected to fall significantly from 1 April.   

thank u for the link, i am based in glasgow.

I’m not fixing yet…..Waiting till late August to see what price cap will be Oct to Dec…

Everything is pointing to cheaper but it takes about 9 months for wholesale prices to filter down. And don’t panic if middle east gets worse, their contribution is small beer (10-15%), Russia was 40% and cheap.

Figure 2: Cornwall Insight’s Default Tariff cap forecasts using new Typical Domestic Consumption Values: Standing charge and unit rate (dual fuel, direct debit customer)

hmmm interesting. i guess we will find out what the second quarter’s price cap will be to get better idea if anyone wants to fix now.

Thanks. Am I right in thinking that the boundary between the Northern and Southern electricity distribution regions in Scotland runs along the Clyde? So Celtic are in Northern Scotland, but Rangers in Southern?

The only maps I can find show a vague line from the Clyde to the Tay, so it would be good to know whether Greater Glasgow is in fact split between two regions (which match the old Electricity Boards in England, but I’m not sure how far south Scottish Hydro stretched).   

no no both celtic and rangers are in southern scotland. when i checked last...my area falls under scottish hydro or scottish power.

Thanks. So I’m none the wiser ...

nah man...its all good lol

OK, I’ve now found a map where the DNO boundaries are a bit clearer. It certainly looks as if the whole of Glasgow is in fact in Southern Scotland region 18, served by Scottish Power:
  

Sorry to have been so confused and confusing. I wonder if the border shown is different from that of the (old) Scottish Hydro area.  

Hey guys, any updates on second quarter’s price cap? 

Soon!(tm)

^ hey guys, reopening this thread to ask if its worth fixing now since we know that the price is going up in october?

Absolutely - lock in the current rates and you’ll dodge the winter price rises.

thank you for your reply, i hope others will reply and i can make my decision depending on the majority.

1. but have you fixed for one year or two years?
2. fixing for two years seems expensive from what i checked, would you agree?

I always fix for two years. Let’s just say I completely dodged ALL of the price chaos during the pandemic… By locking in a two year renewal deal in August 2021 to start in October 2021, all I had to do was ride the storm. :)

anyone else fixing?

Getting responses from general users might take you a while. I’ll summon some of the other Forum Volunteers as they might be around. Other than the fact we get access to extra knowledge behind the scenes at OVO, we’re just regular customers. Please bear with me - they might not respond immediately.

@BPLightlog @Firedog @Nukecad @Jeffus @Peter E @BeePee have you got a second?

I’ve also pinged a few users on the other side to see if they’re willing to stop by.

I'm fixed until late December (1-year Fixed Loyalty Plan) but am keeping an eye on things and may ‘tariff hop’ to a new 1-year fix before then, possibly before any October rise.

In the end various things have to be considered and whether you fix or not is always a bit of a gamble, you might win you might lose - but sometimes it's less of a risk than others, depending on what fixes are being offered - and that you have to weigh up for yourself in your own circumstances.

Just fixed for one year. I compared my original variable tariff with the one year fixed loyalty , the fixed loyalty actually came out £6 cheaper over the year (£1322 to £1316), This is mainly because the standing charge is slightly less, but the unit rates slightly more. Given that a10% increase is occurring in October a sensible choice.

I was however amused by some of the wording which suggested that the figures appearing in my sign-up e-mail may not be the same as the figures quoted when signing up! They do match.

I fixed back in May at rates which have so far saved me a bit over the SVT. The saving will get quite a bit bigger in October. I was a bit miffed to see that the 1-year Loyalty fix released last week is a bit cheaper, but the difference would amount to less than 10p a week, so I can’t be bothered to change.
  

You’re not referring to the passage that says “Your unit rates and standing charges might show differently on your statements,” are you? That’s always included to point out that rates on bills are shown ex VAT, with the VAT added lower down. Rates in quotes and confirmation emails and on TILs are always inclusive of VAT, but rates on the tariffs page are given ex VAT just to be awkward.  

Given that Q3 2024 and Q1 2025 are shown as increases by Cornwall Insight fixing is probably a good idea but there isn't much in it unlike before the surge in energy prices where there was an appreciable advantage in doing so.

My issue about fixing is that it’s a bet. You are betting that your guess on energy prices is going to be better than a company whose business is estimating future energy costs and set the price to come out in the profit side of the deal. By opting for a Fixed Term the company can buy further ahead on the Futures Market and get a better deal. Where it gets a bit muddy is that the company may take a gamble on a smaller margin or perhaps even a small loss to keep you on board and stop you going elsewhere. That improves the Fixed Terms odds.

Given the uncertainty in the energy market at the moment I would probably only fix for a year. One of the known factors is that at the end of this year Ukraine's gas transit contract with Gazprom finishes and they are likely to turn the remainder of gas (not LNG) flowing to Europe off. This is likely to unsettle the gas market, prices go up and those on Fixed Terms gleefully rub their hands together. On the other side gas storage is very high, just over 90%, for this winter, gas supply is also somewhat diversified now and if we have another mild winter gas prices could plummet Q2/Q3 2025. Hooray for the SVT.

Who wants to throw the dice?

Peter

I’ve always likened fixing price to having insurance or not. 
In many cases you’re not obliged to have insurance but it gives you peace of mind, just in case. 

@BPLightlog That is a very good analogy and peace of mind is an important aspect of this. Being able to calculate the risk has its advantages though.

Hey all,

I know this will be a reasonably significant topic over the next few months, so thank you all for sharing your thoughts and insights so far.

Just an observation about fixing tariff at this time of year and following OVO's recommended DD's to attain a zero balance at your fix end.

Following that recommendation means that if you take a 1-year fix in autumn/winter then your account will almost always be in debit throughout the year.

ie. You start your new fix at zero balance, and because it's autumn/winter your ‘averaged out’ recommended DD won’t cover your monthly usage in those winter months.
So you immediately start to build up a debit - only catching up to zero again over the next summer as you approach plan end.

Of course if you fix in spring/summer than the opposite happens and you should build up a credit over summer that then covers your winter use and gradually reduces to zero..

I suppose it’s not really that important unless you don’t like your account always being in debit?
You could always ignore the ‘zero at fix end’ advice and (if you can afford to) pay more than the recommended DD to build up a credit balance.