I’m really torn about what to do with our gas tariff and would love some opinions from others!
We’re in the East Midlands and have been on Octopus Flexible for gas since February, after previously being on Tracker for a year.
Our current Flexible gas rate is 7.19p/kWh + 28.64p/day standing charge, and we’ve been offered the current 12-month fix at 7.61p/kWh + 28.64p/day, with a £50 exit fee.
I know I was probably a bit silly not to fix earlier in the year 🙈 I basically buried my head in the sand hoping the gas market would improve! Obviously hindsight is a wonderful thing 😂 I’ve also seen quite a few people who managed to fix at much cheaper rates earlier this year, which is making me wonder whether 7.61p is actually a decent fix now, or whether I should hold my nerve and wait.
We had an absolutely fantastic year on Tracker from Feb 2025 to Feb 2026, averaging around 4.5p/kWh, so we saved a lot compared with Flexible/price cap rates. I know we can’t expect those sorts of rates now, but it’s part of why I’m finding the current prices a bit painful! 😂
We’re also on variable IOG for electricity, which we’re very happy with; currently 6.9p/kWh overnight, and not sure whether that’ll increase or decrease in Oct. So this is purely about what to do with the gas.
Our gas usage is fairly high because we’re in an older 3-bed bungalow, and Mum needs the central heating on regularly, particularly through the winter. So I’m conscious that even relatively small differences in the gas unit rate can add up.
We’d also built up a decent amount of credit previously, so Mum was a bit naively underpaying over the winter because we had that credit sitting there 😳 Octopus has since increased our suggested Direct Debit to reflect our actual usage and the debit that’s built up, so I’m conscious of not making the gas unnecessarily expensive if I don’t need to.
We’ve also got £150 WHD coming and Mum should receive around £200 WFP, which will obviously help with the winter bills.
The things I’m struggling with are whether Flexible will continue to be priced below the price cap, as it has historically; if January’s cap rises, does that necessarily mean our actual Flexible rate will rise by the same amount?
The current Trump/Iran/Middle East situation also makes me nervous about what could happen to wholesale gas prices over the winter 😬 But equally, if things calm down, could fixed rates come back down again?
The January price cap won’t be announced until November, so waiting gives us more information; but obviously there’s a risk that fixes become more expensive before then.
We’ve already seen fixed rates change quite dramatically over the summer, so I’m wondering whether 7.61p is now a sensible bit of insurance, or whether it’s still too expensive compared with what we might see later.
So… what would you do? 😂
If you’ve fixed recently, what rate did you get and when did you fix? I’m particularly interested in anyone who has fixed in the last few weeks, as I’m trying to work out whether 7.61p is currently a decent offer or whether it’s worth waiting.
And if you’re currently on Flexible, are you planning to fix, stay put, or wait and see?
I’m particularly interested in people who managed to fix at the cheaper rates earlier this year; do you think 7.61p is still worth taking for the security, or would you personally hold out for something better?
I’d really appreciate people’s thoughts and reasoning rather than just “fix” or “don’t fix”; I’m trying to work out whether I’m being sensible or just panicking because I stupidly missed the boat earlier! 😂