Reply #1: If you're not heating with gas, then the fixed rates make no sense

[Warpy]

However, the first thing you need to do to that gas water heater is turn it down to 120, usually the lowest setting. That will deliver water that is hot enough for just about everything while saving you a bundle of cash on heating all that water to a high temperature while you're sleeping or at work.

If you do that, you'll never use enough to qualify for that super low fixed rate. You'll come out ahead, though.

People who heat their houses with gas often come out ahead on the fixed yearly rate. Misers like me don't.