Homeowners advised to address energy costs as predictions show potential expenses for October
In the midst of the ongoing energy crisis, households are being advised to consider fixing their energy bills as the best deals for October 2021 become increasingly important. With rising wholesale costs, the best deals are still below the peak prices experienced later in 2022 and 2023, but slightly more costly than earlier in 2021 as wholesale prices rose.
Leading energy suppliers are offering a range of fixed deals for households. OVO Energy's Extended Fixed 26 June 2025 offers a saving of £50 vs the July price cap, while their Online Exclusive 25 June 2025, available only on price comparison sites, offers the same saving. Octopus Energy's 12-month fixed deal is priced at £1,669, offering a saving of £51 vs the July price cap, and Eon Next's 12-month fixed deal offers customers the chance to save £131 against the July price cap at £1,589.
Co-op Energy's 12-month fixed deal is priced at £1,669, offering a saving of £51 vs the July price cap, and So Energy's two-year fixed deal offers a saving of £54 over the summer, with bills set at £1,666. Supplier So Dean offers a 24-month fixed deal with a saving of £54 vs the July price cap, and the cheapest dual-fuel tariff on the market is a two-year fixed deal from Outfox the Market, offering a £145 saving against the July price cap, at £1,575.
While customers on a standard variable tariff will benefit from lower tariffs this summer, they could be in for a shock in October. Octopus Energy, however, thinks prices could rise by £38 to £1,758 in October. Energy consultancy Cornwall Insight predicts a further fall on 1 October, when the price cap changes again, to £1,697. Even if prices fall to this level, households could still save £122 with Outfox the Market's 12-month deal at £1,580.
Suppliers EDF and Eon predict a drop in prices, albeit a smaller one, to £1,718 and £1,712, respectively. Experts are urging households to consider fixing their energy bills, despite the differences in forecasts, as the search results do not provide specific details on the best fixed energy deals for October 2021 or exact savings compared to the July 2021 price cap.
To maximise savings, households are advised to compare fixed deals carefully and consider locking in prices before further wholesale price rises later in 2021 and 2022. For a more precise comparison, during winter 2021/22, the price cap was roughly around £1,200-£1,300, whereas by October 2022 the cap peaked at £2,380 under the Energy Price Guarantee. This means fixed deals in October 2021 would have been significantly cheaper than those in later 2022-23.
If you want exact figures for October 2021 fixed deals and July 2021 price cap levels, a dedicated archive or energy market report from that period would be needed.
- In the energy industry, several finance companies are offering fixed-rate mortgages for households to secure lower payments, similar to the approach with fixed energy deals.
- Despite the ongoing energy crisis, many households are also focusing on increasing their savings by making smarter financial decisions, such as fixing their energy bills and finding more energy-efficient appliances to reduce consumption.
- The ongoing energy crisis and rising wholesale prices have caused a ripple effect in the business sector, with furniture manufacturers looking towards alternative energy sources and energy-efficient practices to cut costs and remain competitive within the finance industry.
