Energy Prices (Strictly NO referrals!)

The updated October 2022 price cap is being announced by Ofgem later this week (26th Aug). This is the calm before the storm - TV news and online social media are going to light up on Friday.
 
80% increase for electric
75% increase for gas
In comparison to the April prices. The average £££ means nothing, its all about the unit rates which is different all over the country.
Going to imagine GAS unit rate is going to be somewhere around 14p and ELECTRIC will be north of 60P for where I am at least (north east)
 
MatsyLR said:
80% increase for electric
75% increase for gas
In comparison to the April prices. The average £££ means nothing, its all about the unit rates which is different all over the country.
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  • Plan rates​

    electricity​

    Unit rate:
    80.93p/kWh
    Standing charge:
    46.54p/day

    gas​

    Unit rate:
    23.01p/kWh
    Standing charge:
    27.52p/day


vs todays rate capped

Unit rate
27.84p per KWh
Standing charge
36.11p a day


Unit rate
6.99p per kWh
Standing charge
25.92p a day
 
HungryHippos said:
if we're going from £0.28 with an increase of 80%, how are people quoting £0.60 - £0.80 per unit?
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Those are 12+ month fixed tariff unit prices, which take into account the January and April 2023 price cap increases. We are referring to just the Oct 2022 price cap increase here.
 
Preempting the riseI went for octopus go 39.84/7.5 so that should protect from some of the massive increase. They didn’t do any EV checks either.

Monday smart meter installed. Wed I was on go. Trying to get go faster for the 9:30pm cheap electric now.
 
I'm with EDF and my 2 yr fixed deal ends on 30 Nov where I guess I'll go onto their variable rate. Got my bill today and from next month they are putting up my DD from £70 to £130, I knew it would be going up but they're puting it up almost 2 months before my deal ends so is this right? I'm thinking of cancelling my DD when I go onto the variable rate and just paying my bill quarterly, is this something I can do? Don't worry, not going down the Do Not Pay route :)
 
zom247 said:
I'm with EDF and my 2 yr fixed deal ends on 30 Nov where I guess I'll go onto their variable rate. Got my bill today and from next month they are putting up my DD from £70 to £130, I knew it would be going up but they're puting it up almost 2 months before my deal ends so is this right? I'm thinking of cancelling my DD when I go onto the variable rate and just paying my bill quarterly, is this something I can do? Don't worry, not going down the Do Not Pay route :)
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your prices are going to go up a lot more than that increase, you may as well leave it so you at least get a little more used to paying a bit extra and build up a little credit before you get shocked by bills.
 
zom247 said:
I'm with EDF and my 2 yr fixed deal ends on 30 Nov where I guess I'll go onto their variable rate. Got my bill today and from next month they are putting up my DD from £70 to £130, I knew it would be going up but they're puting it up almost 2 months before my deal ends so is this right? I'm thinking of cancelling my DD when I go onto the variable rate and just paying my bill quarterly, is this something I can do? Don't worry, not going down the Do Not Pay route :)
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They have increased your direct debit because they are looking 1 year in advance and the system says you need to paying the £130 over the next year (based on prices we know) to keep on track. Also keep in mind your prices will go even further up, the £130 is gueswork, its going to be way more.

Switch to direct debit whole amount so you pay your exact bill each month or every 3 months based on accurate meter readings so you cannot be charged more than you use. Don't cancel the DD as you will end up paying more as the unit rates increase unless you pay by DD or get a PAYG meter.
 
I'm not sure if it is a question that can be answered, but is that correct across the board? When suggesting DD rates do suppliers consider only the present rates or do they take into account predicted rises within the timeframe? Including the govt contribution? Just wondering whether that would be an industry standard thing or if it differs from suppliers.
 
Stop talking about monthy direct debits. It’s so irrelevant and means nothing to anyone else. Look at annual use against the unit rates.

Also look at using less energy …
 
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