Energy Prices (Strictly NO referrals!)

Spusu myself. First 3 months were 99p then 4.50.

Whats really ridiculous. I got 45 pounds cashback from quidco as well!

Couldn't believe it paid out!
The funny thing is most or all of these low cost providers are using mainstream networks that other people are paying a hefty premium for.
 
Got the email from Octopus to say how much I'm owed from last Thursday. Despite a whopping 171% increase in consumption, that works out as 2p :D
Same here 2p. I am over the moon. I didnt adjust my usage though.

At least with this scheme you dont have to keep hitting a button to take part, after the initial registration it is automatic.
 
The Ofgem boss made it sound like they are looking at moving some costs into the unit prices with a decision by the end of the year but with big concern about the most vulnerable using lots of energy who will be hit hard by the changes.
What I was expecting, a token amount, which will be temporary as it will go up later to pay for all the grid stuff that needs doing.

Ofgem seem to fail to recognise the mistakes they have made in all of this, I think there is numerous ones.

Unrelated but found this is a rtx 4090 video, some reviewers have started mentioning running costs now, and one of them presented this map.

prFNjeF.png
 
I'm on Octopus Fixed May V4 I think their current Fixed is a bit cheaper so asked to be swapped to it. Annoying it doesn't let you do it yourself.
 
What I was expecting, a token amount, which will be temporary as it will go up later to pay for all the grid stuff that needs doing.

Ofgem seem to fail to recognise the mistakes they have made in all of this, I think there is numerous ones.

Unrelated but found this is a rtx 4090 video, some reviewers have started mentioning running costs now, and one of them presented this map.

prFNjeF.png
We need some smart meter data here from 4090 owners. :D

My smart meter recently started working properly and my shower is the biggest power hog, followed by the oven. :D
 
Yeah absolutely, because there is a premium to buying ahead.

However what Im questioning is the value. Look at all of us on Octopus tracker or similar tariffs, and how much we have benefited from taking the risk on spot prices.

The vast majority of the country have, against this benchmark, been overpaying for months.

And yet Ofgem simply lifts price caps instead of challenging suppliers to beat the forward prices, as we have all been doing.

Ofgem could have kept the price caps the same and challenged suppliers to deliver more effective purchasing arrangements by taking a proportion of risk on spot prices.

They could only match the pricing by doing what caused a load of providers to go bust at the start of the crisis, which would be to sell fixed to the customer whilst buying via spot pricing, then what happens if spot pricing goes above the fixed they have sold?

If you want spot pricing you need to be prepared to take that bit of risk, and its not much of a risk as the spot pricing tariffs have no obligation to stay on them.
 
Can't beat Agile this year.

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Yeah agile remains cheaper for me compared to what I would be paying on tracker. As soon as they changed the algorithm for tracker, I checked on octopus compare and then moved over. Although not at those level of savings, I am not moving any usage to specific hours other than not using my oven between 4 and 7pm.
 
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We are on the Octopus tracker but only switched recently so its the July tracker, there are diffferent ones depending one how long you have been on it, although I dont know if the price is different?????

Does anyone know what the cap is going forward in October, said on the radio about the cap increase but as usual the news is awful and states stupid stuff like, "the average house bills etc" does anyone actually know the figures in KWh and standing charge? I tried to google it but says something like 25p per kwh, which is about what it is now anyway??

Im temped jsut to stay on the tracker for now and see how it goes, certainly for the 3 or weeks weve been on it, with the exception of 1 day where it was like 1% more expensive, its been cheaper every day, and about 30% cheaper some days, including today actually.
 
We are on the Octopus tracker but only switched recently so its the July tracker, there are diffferent ones depending one how long you have been on it, although I dont know if the price is different?????

Does anyone know what the cap is going forward in October, said on the radio about the cap increase but as usual the news is awful and states stupid stuff like, "the average house bills etc" does anyone actually know the figures in KWh and standing charge? I tried to google it but says something like 25p per kwh, which is about what it is now anyway??

Im temped jsut to stay on the tracker for now and see how it goes, certainly for the 3 or weeks weve been on it, with the exception of 1 day where it was like 1% more expensive, its been cheaper every day, and about 30% cheaper some days, including today actually.
Tracker is still by far the best option (for the time being at least) assuming you don't charge a car/have solar.

This is today (in north east on December tariff) , electric has been cheap past few days due to the wind. Although gas is creeping upwards.
Screenshot-20240823-211903-Chrome.png
 
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What I was expecting, a token amount, which will be temporary as it will go up later to pay for all the grid stuff that needs doing.

Ofgem seem to fail to recognise the mistakes they have made in all of this, I think there is numerous ones.

Unrelated but found this is a rtx 4090 video, some reviewers have started mentioning running costs now, and one of them presented this map.

prFNjeF.png

The data on there is very out of date - our prices have lowered massively in 18months.
 
Interesting that Octopus say the national pricing stops people locating businesses in areas of cheap power for that cheap power.
Makes some sense I guess.


Would save consumers money if businesses could be encouraged to move high usage industries to eg Scotland where there is abundant generation.
Saves us all because it avoids having to move the energy to the South.

Wonder if the government will consider this. I doubt it but it seems to make sense.
 
Interesting that Octopus say the national pricing stops people locating businesses in areas of cheap power for that cheap power.
Makes some sense I guess.


Would save consumers money if businesses could be encouraged to move high usage industries to eg Scotland where there is abundant generation.
Saves us all because it avoids having to move the energy to the South.

Wonder if the government will consider this. I doubt it but it seems to make sense.
And reduce the earning potential of the South East and London? Don't be daft!
 
Best explanation I've seen of how the UK end consumer is getting screwed energy cost wise. Runs rather contrary to what Ed Miliband and Jonathan Brearley of OFGEM have been putting out there. (09:39-13:25)


(Do excuse the pounds not pence error at the beginning)
 
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