Energy Prices (Strictly NO referrals!)

I was confused initially by the posts saying it shouldnt be for people on cheaper fixes.

So if we talking about the £400, bear in mind there is people struggling even on Oct 2021 prices, and expecially April 2022 prices. The £400 I feel though at the time was to appease the wider voter base, because if it was only the CoL means tested announced there would have been a lot more whinging from people.
 
fez said:
We make companies do all sorts of things. Requiring energy companies to be able to do certain things with their customers and their information really isn't asking too much. If they can't do it currently they they should be given a timescale to make the changes or be fined heavily. They are not poor and they can 100% do it. They just won't because there is nothing in it for themselves.
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We do make companies do all sorts of things yes. But, don't forget this is generally paid for by the consumer, not the company as they will pass on costs in charges/products etc

The scheme was also implemented quickly. This is often the main issue, its all well and good making companies make changes but if its significant (and only the person/people who really understand the energy companies software would be able to say) you can lead into all sorts of other issue, or it may take significant time.
This was a rush out scheme. I am sure the 99.999% would be complaining like hell if the government said "we wanted to reduce your bills over winter, but we had to allow the companies 6 months in order to fix their systems and find the small amount who overly benefitted from our proposed simple and quick to implement solution"
 
chrcoluk said:
Where were these long term fixes?

Octopus have only been offering 1 year since I started checking which was sept 2021 I started checking. I skipped many of their fixes as they never quite made sense, if they were even 18 months I would have taken, I eventually ended up on agile and gas trackers which are pretty amazing in the current market but again only 12 months.

My plan for when my tariffs expire in summer, it will assume Octopus still let you exit penalty free is to monitor the daily prices, and whenever we enter a windy spell (cheap gas/electric) jump onto the higher capped trackers, and as the good spell ends jump back on SVR, the only limitation is you cant rejoin within 30 days of leaving.
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I am with SSE and at the time (October 2021) they offered different fixed term packages. 1 year to 5 years from what I remember.
 
Three years was the longest fix offered for me with EDF, and I'd never done that long before. I'm OK until March '24. Not sure I would have taken a 5 year fix, but with the benefit of hindsight it might have been the smart move.
 
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Mercenary Keyboard Warrior said:
True, but 1) its literally only just happened that interest on normal accounts is worth taking into account, its been basically zero for 10 years, and 2) like always with market leading rates your forced to chase them

I know some people don't mind account switching etc, but it comes with potential agro every single time.
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It's been 5% on my account this whole year though with Barclays so even without me chasing I can sit with up to £5k in that account and get 5% return. I know others been around that this year with yeah getting to 7% last two months and so moving it once for an extra 2% wasn't huge hassle.

But yeah if you want absolute market leading then fine. Chase and Zopa also been offering around 3% for long time and even that is decent enough.
 
Curlyriff said:
It's been 5% on my account this whole year though with Barclays so even without me chasing I can sit with up to £5k in that account and get 5% return. I know others been around that this year with yeah getting to 7% last two months and so moving it once for an extra 2% wasn't huge hassle.

But yeah if you want absolute market leading then fine. Chase and Zopa also been offering around 3% for long time and even that is decent enough.
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Even so, 3% is £18 on my current balance over a year. My bill shot up by over £200 in one month and then will likely drop by the same this month.

£1.50 a month just is definitely not worth the hassle that causes.

Don't get me wrong I wouldn't be fine with Vodafone doing it so I get the argument but in this instance it's actually helped smooth the bill shock a bit
 
matt100 said:
Even so, 3% is £18 on my current balance over a year. My bill shot up by over £200 in one month and then will likely drop by the same this month.

£1.50 a month just is definitely not worth the hassle that causes.

Don't get me wrong I wouldn't be fine with Vodafone doing it so I get the argument but in this instance it's actually helped smooth the bill shock a bit
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That all fair. Everyone has different levels. My interest for the last year at 5% if I'd had £600 extra is only £30 indeed but that is 3 moths of mobile phone bill or a months car insurance etc.

But yeah for some that amount isn't a huge amount course.
 
Curlyriff said:
That all fair. Everyone has different levels. My interest for the last year at 5% if I'd had £600 extra is only £30 indeed but that is 3 moths of mobile phone bill or a months car insurance etc.

But yeah for some that amount isn't a huge amount course.
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No I get it, there by the grace of God and all that. I've gotten myself to a place where I don't need to worry about that but it's not so far back that I did that I'm ever tempted to pontificate on people's lives like some folks here.
 
Signed up to buy some power generation shares from Ripple.

In the last year used 17000 kwh of leccy, so when the purchase opens up (based on your usage) I should be able to buy a huge chunk more than needed as the last year was a one off.
 
kindai said:
Signed up to buy some power generation shares from Ripple.

In the last year used 17000 kwh of leccy, so when the purchase opens up (based on your usage) I should be able to buy a huge chunk more than needed as the last year was a one off.
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This didn't make much sense to me, the ROI is really long, better off buying your own solar system I think.

The Ripple tariffs also seem to conflict with other TOU tariffs, and get worse as you add stuff like solar from what I can tell.

Good in theory, I'd be more interested if they just paid me for generation figures out of the farm rather than trying to bake the figures into my unit rates via my supplier.
 
Wow December was painful. 300sqm detached house built in the 1500s out of timber, horse hair, lime plaster etc. so about as energy inefficient as you could think. On standard capped rates:

Electric: £383.72
Gas: £511
Rebate: -67
Total: £827.72

Had to turn the storage heaters on for the bit of the house that has them for the first time and they’re £10 a day in electricity (economy 7 does not have such a big differential in night rates these days). Not that it would have helped in a dull December, but solar has been denied multiple times due to the house being listed and its construction means you can’t seal it up like a new build to make an ASHP viable (if permission was even granted) so my advice is don’t buy an old property! I fear unless the heritage people move with the times and relax some things to cope with and take advantage of the modern world then we’ll lose a lot of our old buildings.
 
BigT said:
Wow December was painful. 300sqm detached house built in the 1500s out of timber, horse hair, lime plaster etc. so about as energy inefficient as you could think. On standard capped rates:

Electric: £383.72
Gas: £511
Rebate: -67
Total: £827.72

Had to turn the storage heaters on for the bit of the house that has them for the first time and they’re £10 a day in electricity (economy 7 does not have such a big differential in night rates these days). Not that it would have helped in a dull December, but solar has been denied multiple times due to the house being listed and its construction means you can’t seal it up like a new build to make an ASHP viable (if permission was even granted) so my advice is don’t buy an old property! I fear unless the heritage people move with the times and relax some things to cope with and take advantage of the modern world then we’ll lose a lot of our old buildings.
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Question is though, would you be willing to move now, with the new energy prices likely to be the baseline going forward?
 
HungryHippos said:
This didn't make much sense to me, the ROI is really long, better off buying your own solar system I think.
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first mention on the radio/r4 this morning of cowboy solar installers , not unexpected I guess, with the install grants/VAT reductions,
having some credible warranty to hand over to property purchaser akin to (questionable) NHBC would validate install.
 
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