Energy Prices (Strictly NO referrals!)

[chrcoluk]

I am tempted to fix for the 24 months with EonNext (current supplier):

	Electricity	Gas
Daily standing charge	63.31p	31.65p
Unit rate	24.09p per kWh	5.93p per kWh
Assumed annual usage	1,262kWh	2,842kWh

My thought is the standing charge will only go one way but I am not sure how the unit charges will go over 2 years.... The cynic in me doesnt see them going down much and, if they do, they will be offset with an increase in SC anyways. Given the low usage that is used, any change in unit charge will be minimal anyways.

EDIT: The SC is for this area (even Octopus is only 2p/day less for each but only offer 12m fix max)

Thoughts?

There is a potential for SC to drop as Ofgem were ordered by the previous government to review it. They had massive feedback on the consultation and as far as I know have yet to announce the result of it. However my opinion is if it does drop, it wont be more than a token amount. Of course if it drops then unit rate will go up to offset it, unless anything funded by it is moved to general taxation (unlikely). Also if it drops I think it will be temporary as we currently have a crisis with the grid having massively under invested in its network causing problems.

So the magic question, is there an exit fee?

 

[Richie]

There is a potential for SC to drop as Ofgem were ordered by the previous government to review it. They had massive feedback on the consultation and as far as I know have yet to announce the result of it. However my opinion is if it does drop, it wont be more than a token amount. Of course if it drops then unit rate will go up to offset it, unless anything funded by it is moved to general taxation (unlikely). Also if it drops I think it will be temporary as we currently have a crisis with the grid having massively under invested in its network causing problems.

So the magic question, is there an exit fee?

My bad - yeah the Exit Fees are £100/fuel.

 

[n111ck]

I see the cap is going to go back up just in time for Labours austerity measures for pensioners to kick in.

Given how much this **** government has managed to take the country back to the 70’s in a few short weeks are we expecting power cuts alongside the riots?

 

[Mercenary Keyboard Warrior]

I see the cap is going to go back up just in time for Labours austerity measures for pensioners to kick in.

Given how much this **** government has managed to take the country back to the 70’s in a few short weeks are we expecting power cuts alongside the riots?

Your a bit early. The Express and mail don't run the power cuts are imminent stories until the autumn.

 

[PlacidCasual]

	Electricity	Gas
Daily standing charge	63.31p	31.65p
Unit rate	24.09p per kWh	5.93p per kWh
Assumed annual usage	1,262kWh	2,842kWh

For interest of that 24p per kWh only 6p is the wholesale cost of buying the electricity. When that energy is from gas fired CCGT which tend to set the price 90+% of that 6p is the cost of the gas and the carbon tax.

 

[n111ck]

Your a bit early. The Express and mail don't run the power cuts are imminent stories until the autumn.

Yes just getting in early - the last government managed to avoid them but given what a shambles this new shower are.. and you lot need time to install solar panels etc.

 

[200sols]

That fix doesnt look all that appealing vs tracker to me. 2 Years is a long time + exit fees as well. Its basically a hedge against prices going crazy again. With such low usage it wont make much difference anyway

 

[ron3003]

Octopus Tracker East Midlands today 18.48p, tomorrow 12.34p.

 

[Goodie]

Yes just getting in early - the last government managed to avoid them but given what a shambles this new shower are.. and you lot need time to install solar panels etc.

Give your head a wobble.

 

[Swifty123]

Something I learnt about the Octopus tracker from an email - since our smart meter has been broken a while, is that it's based on an average over the month rather than usage per day.

The way it is billed is from meter reading to meter reading then our system bills you to all the times the prices have changed throughout the month and average it out throughout the month.

 

[Richie]

With such low usage it wont make much difference anyway

Yeah that's my thought... My usage is that low that a small decrease in unit cost wont make a difference. Given the SC has ramped up so much in the last 12-24 months, this is likely to have a bigger effect on me.

 

[n111ck]

Give your head a wobble.

You want to read this thread from the start lol..

 

[Mercenary Keyboard Warrior]

Yes just getting in early - the last government managed to avoid them but given what a shambles this new shower are.. and you lot need time to install solar panels etc.

If you think the government have any direct ability to influence this in the short term I have a great brexit bridge to sell you.

The spare capacity in the system has been declining each year.
The demand reduction scheme will probably keep us safe for a few years yet however. (The one where your paid to export/reduce usage)

 

[b0rn2sk8]

also gas prices were high for UK citizens because the conservative government of the day privatised the energy sector.

The private sector is most interested in making money, unsurprisingly they’ll sell their good to whoever is willing to pay the most.

I’m not sure what that has to do with the current Labour government….

Perhaps educate us in the U.K. Government Performance thread in speakers corner if you actually have something meaningful to say as this is getting way off topic.

 

[Mercenary Keyboard Warrior]

Something I learnt about the Octopus tracker from an email - since our smart meter has been broken a while, is that it's based on an average over the month rather than usage per day.

If they do not have a full set of readings that is how they do it

 

[n111ck]

If you think the government have any direct ability to influence this in the short term I have a great brexit bridge to sell you.

The spare capacity in the system has been declining each year.
The demand reduction scheme will probably keep us safe for a few years yet however. (The one where your paid to export/reduce usage)

If that's what you think then you must think they are absolute ****'* for what they are doing to pensioners.

 

[Mercenary Keyboard Warrior]

If that's what you think then you must think they are absolute ****'* for what they are doing to pensioners.

I'm fine with removing the fuel allowance seeing as how much of an increase the pension has had over recent years.
Those that really need it will still get it.

 

[n111ck]

also gas prices were high for UK citizens because the conservative government of the day privatised the energy sector.

The private sector is most interested in making money, unsurprisingly they’ll sell their good to whoever is willing to pay the most.

I’m not sure what that has to do with the current Labour government….

Perhaps educate us in the U.K. Government Performance thread in speakers corner if you actually have something meaningful to say as this is getting way off topic.

We cant discuss energy prices and associated government policy in the 'Energy Prices (strictly NO referrals!) thread'? Seriously

 

[200sols]

The demand reduction scheme will probably keep us safe for a few years yet however. (The one where your paid to export/reduce usage)

The auction system was a race to the bottom though. Those people turning off to save 10p will probably give up eventually.

 

[n111ck]

I'm fine with removing the fuel allowance seeing as how much of an increase the pension has had over recent years.
Those that really need it will still get it.

You support taking away benefits from people on fixed incomes just in time for the period when they are most vulnerable and prices are going up? Callous.