Energy Prices (Strictly NO referrals!)

Uther · 27 Feb 2023 at 09:22

Ofgem energy price cap falls - but average household bills still expected to rise

Implementing a social tariff, which offers lower energy prices for vulnerable customers, should be urgently examined, Ofgem said - as it warned prices are unlikely to fall to pre-energy crisis levels.

news.sky.com

Freakbro · 27 Feb 2023 at 09:28

Our fix deal ends in a few weeks, time to start lubing up!

Seemed to have managed to get back on to domestic from business easily though, so that's a relief, as we were getting renewal offers of 71p a unit :eek:

Thankfully the solar generation will be improving all the time now, which will cover more usage, so just have to work on reducing our overnight base load now.

Kainz · 27 Feb 2023 at 09:38

Pubs and Restaurants are screwed. I’m worried about how I’ll look after my mum’s monstrous gas usage now.

cu3ed · 27 Feb 2023 at 09:41

Freefaller said:
I have already planned on giving it to charity - but that's a sensible suggestion.

However, my point is a lot of people who can afford it will just receive it and just forget about it. If you didn't receive it in the first place it would be able to put to better use at source without creating unnecessary work.

I know what you mean but to be honest I dont know what system they could put in place for poeple to "opt" out of without it being massivly problematic.

200sols · 27 Feb 2023 at 09:43

Freefaller said:
It's a shame we can't opt out for this £400 support. I mean I'm not trying to make a subtle show off here, genuinely, I think people who don't need it should have the option to give it back or not take it so that it can be sent to people who need it more than us - or at least create less debt in the economy. I'm perhaps alone here, I personally don't like handouts if I don't need them.

Its easier just to give it to everyone, means testing takes time and could end up costing more anyway and to be honest since the scale of the problem was so widespread even those appearing 'well off' and firmly in the middle have needed a little help.

Freefaller · 27 Feb 2023 at 09:48

200sols said:
Its easier just to give it to everyone, means testing takes time and could end up costing more anyway and to be honest since the scale of the problem was so widespread even those appearing 'well off' and firmly in the middle have needed a little help.

That's a totally fair comment and something I hadn't considered. My basis was honestly to try and lower the burden but yes it seems like everything in this country it would just add more bureaucracy which would create more cost.

HungryHippos · 27 Feb 2023 at 09:49

Plus if you don't want it, it's easier to give away to whichever cause you want!

Mysterae_ · 27 Feb 2023 at 09:51

Not sure if it's been posted recently - for those households who don't use mains gas to heat their homes and use heating oil and other means should be getting £200 towards their energy bills this or next month. It should be credited to your electricity bill automatically.

https://www.gov.uk/government/news/...ive-energy-bill-support-over-the-coming-weeks

NeilF · 27 Feb 2023 at 10:08

So energy prices set to increase yet again in April according to the news?

What I'm confused about is the market price of gas has been below pre-Ukraine prices for a number of months now, and indeed not a world away from prices we even had 15-20yrs ago. YET, here we are at double energy price, with it set to increase yet more in months to come.

How long is the supposed lag between market prices and consumer prices?

HungryHippos · 27 Feb 2023 at 10:10

A year they said, the estimations are that it will come back down again in 3 months.

Will see how this hits tracker prices but I'm paying 6.4p/kWh for gas today vs 10.4p/kWh on usual SVR price at current cap, so wholesale is a good deal cheaper.

the shadow · 27 Feb 2023 at 10:11

NeilF said:
So energy prices set to increase yet again in April according to the news?

What I'm confused about is the market price of gas has been below pre-Ukraine prices for a number of months now, and indeed not a world away from prices we even had 15-20yrs ago. YET, here we are at double energy price, with it set to increase yet more in months to come.

How long is the supposed lag between market prices and consumer prices?

Yep up for 3 months then back down unless the Guv cancel the rise

ci_newman · 27 Feb 2023 at 10:12

NeilF said:
So energy prices set to increase yet again in April according to the news?

What I'm confused about is the market price of gas has been below pre-Ukraine prices for a number of months now, and indeed not a world away from prices we even had 15-20yrs ago. YET, here we are at double energy price, with it set to increase yet more in months to come.

How long is the supposed lag between market prices and consumer prices?

No, that's wrong.

Energy prices are dropping in April. However because the Government subsidies are stopping in April too, the net effect is an increase in energy costs.

If we didn't have the subsidies, the price changes in April would be a drop not an increase.

[Edit] This was posted a few posts back - https://news.sky.com/story/ofgem-en...usehold-bills-still-expected-to-rise-12817949

Kill_Phil · 27 Feb 2023 at 10:13

HungryHippos said:
A year they said, the estimations are that it will come back down again in 3 months.

Will see how this hits tracker prices but I'm paying 6.4p/kWh for gas today vs 10.4p/kWh on usual SVR price at current cap, so wholesale is a good deal cheaper.

Lucky sod. 6m waiting list to get on octopus tracker

Mercenary Keyboard Warrior · 27 Feb 2023 at 10:14

NeilF said:
So energy prices set to increase yet again in April according to the news?

What I'm confused about is the market price of gas has been below pre-Ukraine prices for a number of months now, and indeed not a world away from prices we even had 15-20yrs ago. YET, here we are at double energy price, with it set to increase yet more in months to come.

How long is the supposed lag between market prices and consumer prices?

Kind of.
They are now around the average of 21-early 22
Early 22 they were higher than now due to the economies starting to open up again

predicted Q3 and Q4 from cornwall are now

Q3 and Q4 2023 Standing Charge and Unit Costs forecasts:
Q3 SC

£/day) Elec - 0.38, Gas - 0.29
UC: (p/kWh) Elec – 32.28, Gas – 7.77

Q4 SC (£/day): Elec - 0.38, Gas - 0.30
UC (p/kWh): Elec – 32.38 Gas – 7.75

HungryHippos · 27 Feb 2023 at 10:16

Kill_Phil said:
Lucky sod. 6m waiting list to get on octopus tracker

Yeah I got in before they edited it, but I don't use loads of gas so actually my impact one way or another isn't that much, without heating I only use a little for hot water, and heating is ending probably march-ish for now.

Apparently some people have had luck just asking them to swap, but that depends a lot.

Rab · 27 Feb 2023 at 10:20

could any 1 tell me, who could i complain to that really could help, not had a monthly help power payment since November.
4 times called utility, (90mins + Each time) just to get hit with pure BS. my health means stuck to a pump 10 hours a day. with no power at times till get paid. it's beginning to take it's toll.

HungryHippos · 27 Feb 2023 at 10:23

Rab said:
could any 1 tell me, who could i complain to that really could help, not had a monthly help power payment since November.
4 times called utility, (90mins + Each time) just to get hit with pure BS. my health means stuck to a pump 10 hours a day. with no power at times till get paid. it's beginning to take it's toll.

You'll need to raise an official complaint with your supplier? who is it btw?

If they don't solve it, then you can escalate to Ofgem I think, which the suppliers won't want, think they get fined.

I'm not trying to shill them here as such but I've had a pretty good time with Support on Octopus Energy vs any other supplier I've used, unheard of to have 90 min wait time on the phone for example.

NeilF · 27 Feb 2023 at 10:24

ci_newman said:
No, that's wrong.

Energy prices are dropping in April. However because the Government subsidies are stopping in April too, the net effect is an increase in energy costs.

If we didn't have the subsidies, the price changes in April would be a drop not an increase.

[Edit] This was posted a few posts back - https://news.sky.com/story/ofgem-en...usehold-bills-still-expected-to-rise-12817949

Ah! I did wonder about that! Thanks...

EDIT: "Prices are unlikely to fall back to the level we saw before the energy crisis" - Love to know why...

bigmike20vt · 27 Feb 2023 at 10:33

Freefaller said:
I have already planned on giving it to charity - but that's a sensible suggestion.

However, my point is a lot of people who can afford it will just receive it and just forget about it. If you didn't receive it in the first place it would be able to put to better use at source without creating unnecessary work.

in principle i agree however (from what i am told, but no expert so just taking in good faith) the problem is by the time it was organised properly in such a way that those who didnt need it didnt get it, but those who ARE in need do not fall through the cracks, the amount spent on logistics and paperwork in terms of time, manpower and cash, they may as well just give it to everyone.

certainly this was the case for the last 6 months however perhaps in that time a better system has been devised going forward after this current help ends.

edit should have read whole thread as this has been covered already.

bigmike20vt · 27 Feb 2023 at 10:36

Freakbro said:
Our fix deal ends in a few weeks, time to start lubing up!

Seemed to have managed to get back on to domestic from business easily though, so that's a relief, as we were getting renewal offers of 71p a unit

Thankfully the solar generation will be improving all the time now, which will cover more usage, so just have to work on reducing our overnight base load now.

buy an electric car (prices start from 4k for a nissan leaf for instance) and then you can get on octopus go. You could always sell the car after....... octopus go combined with solar and a home battery is a powerful combination for 10 months of the year..... (even Feb and november the sun has had a massive impact on reducing our use, and the battery has managed to get us through peak times and onto the Go discount.

they didnt do this in the end however a bunch of people at my work were talking about buying a mule... it was a knackered old EV which only just about ran, but they were suggesting buying and selling it around just to get on octopus Go. I didnt need to as am on it already but it seemed an interesting idea.