Not sure if this was posted yet but the price cap is expected to fall significantly in July. https://www.bbc.co.uk/news/business-65655866.amp
Energy Prices (Strictly NO referrals!)
- Thread starter DXP55
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Man of Honour
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Hopefully the trend continues.
At least we’re at a time of year when heating isn’t needed, not many lights are needed, not hot enough for air con. Still paying a fair bit on electricity though vs historical prices.
Associate
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hmm, my IO peak rate is more than that ...
/glares at cephalopod
Soldato
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No putting a lower reading for june then wacking it on in july 
, smart meters lol
, smart meters lol
Caporegime
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Finally broken into the 16's for electricity, 16.98p today.
Soldato
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Why is the cap so high still if tariffs like Agile can drop to near pre pandemic prices?
Associate
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And never mind the cap, why is the SVR still so high? Isn't it supposed to vary with the cost of service provision?
Like everything else. things go up instantly and come down very slowly because reasons...
Soldato
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isnt it because it is paid for in advance so the stuff being used now was paid for 12 months ago.
assuming this is true (it may not be but i think it is how it works) imo the question should be how come octopus offer products with no lock in period which allows us to completely ignore the futures prices and get for the today price...... i could kind of get it if we were locked in, we would be taking a gamble.. but on the currenty walk away at any time policy i genuinely cant see how the house can win if the customer is on the ball (great for us)
assuming this is true (it may not be but i think it is how it works) imo the question should be how come octopus offer products with no lock in period which allows us to completely ignore the futures prices and get for the today price...... i could kind of get it if we were locked in, we would be taking a gamble.. but on the currenty walk away at any time policy i genuinely cant see how the house can win if the customer is on the ball (great for us)
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Associate
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Maybe that's why Octopus have put a 6 month waiting list on Tracker? A little bit of revenue protection/risk mitigation?
Soldato
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i know electricity wise octopus can probably outcompete some because they have a lot of their own wind generation.... but that said, that does not seem like the normal hard nosed capitalist business decision big companies usually make.
and it still does not explain their Gas prices.
and it still does not explain their Gas prices.
Because they are selling to you at day ahead prices, there is no lock in, they buy it and you use it whatever the cost. In periods of low volatility, generally warm with low demand and high gas reserves this is going to outperform.
Not bad standing charges.
I think that unit rate and SC combo on gas might well be profitable over my circa 4-5p gas unit rate and 27p on SC.
£3.90 saving a month on the SC.
But my higher SC (after 1st July) and much lower unit rate on electricity probably still beats that combo. however I think for a light-moderate user thats not bad going from SVR.
The main issue being though is the downward trending in prices.
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Soldato
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I don't think I would fix on that. Flip yourself over to Octopus and ride the Agile wave until a bit later in the year so you get the benefit of immediately cheaper electric.
Gas on SVR doesn't matter much at the moment really, not as if you need heating on now.
Gas on SVR doesn't matter much at the moment really, not as if you need heating on now.
The cost model the tariffs are based on.
New Agile though does have high SC which cancels out some of its benefits.
It's been widely reported by various sources over the weekend that prices won't go down to 2021 prices for another 7-10 years, despite the fact the wholesale price is now back bewlow the 2021 price. Pure profiteering. If this was France there would be riots on the streets