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To Fix, Or Not To Fix

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CW1 | 19:03 Fri 26th Aug 2022 | Home & Garden
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Anyone here good at maths, with a less weary brain than me ?

Given Martyn Lewis' latest advice to fix your energy tariff now if the rate is less than 140% the current rate (I held out as mine's around 122%), should I now fix ?

Have worked out if I fix my single fuel electric tariff, with the increased price per kWh between now & 30 September I'd ultimately pay £234 more than I need (if I don't (& not looking beyond December 31 which I realise would be stupid), I'd be £234 better off).
Is anyone able to work out - roughly - how long it would take to "recoup" that £234 when prices rise again in January ? And April ? My brain's mush ...
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I’m not sure we can work it out now as we don’t know what the rates will be in 2023.

If they were to stay the same as they are now you would never recoup the money but if they were to double you would recoup more quickly.
Shell aren't offering a fix AFAIK
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I'm not with Shell, davebro. My supplier are offering a 12 month fix now but it would mean I'd be paying an extra £234 before the prices actually go up on 1 October. Trying to work out if it's worth it.
Maydup, think we know enough that it could be worked out, just not by me ! LOL
Far as I can make out, it's close. The price I'd be paying tomorrow is just shy what the price is anticipated to be in January so really it'd be more would there be yet another big hike in April 23. A gamble, but a fix is, eh.

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