[timun]

If you've been paying a fixed rate less than $3.70ish/GJ, then it's been pointless to switch to floating. If you're paying more on a fixed rate than that, then it hasn't worked in your favour for over a year now: other than some blips at the end of 2022 and January this year, floating rates have generally been $3/GJ or less since August, 2022. Don't forget the extra transaction fee Enmax charges on top of the consumption, it's $1.23/GJ!

In my case, with my actual usage, since I've switched from floating market rates to a fixed rate in November, 2021, I've saved about $245.

Almost all of the savings were accrued for the first 15 months, up to my February, 2023 bill. Cumulatively I saved $238.70 over that time. Over the 27 months I've been on my current fixed-rate contract the floating rate would have worked in my favour only 10 months, and in those 10 months the cumulative cost difference was only $24.81. Most summer months I don't even use a single gigajoule of gas, so the cost difference of floating vs. fixed this past year was working in floating's favour by 58 cents here, 49 cents there...

The most disadvantageous month so far has been last month's bill, which would have been $10.95 cheaper if I was on the floating rate. However, this month alone I saved $29.22 vs. the floating rate (which was $4.86/GJ), which has covered not only the January 2024 difference... but the entire cumulative savings in the last 27 months!

I calculated my breakeven gas price retroactive to the beginning of my fixed-rate contract, and it worked out to $5.32/GJ so far. that's the price at which it wouldn't have been worth being on a fixed contract.

(As an aside, being on a fixed electricity contract has saved me $466.46 v. the RRO since November 2021; together, electricity and gas, I've saved over $700, or about $26/mo.)