Energy Prices (Strictly NO referrals!)

Chris Wilson said:
Given the huge rise in electricity prices and I am a high user of it (looking at over 1400 quid for this quarterly bill despite cutting back and no kennel heating as it's summer) does a diesel generator start to make more sense? I know it was poo poohed here some time back.
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Have you looked into solar with such a high usage. Big upfront costs but surly it would pay off in the long run.
 
MadMossy said:
fixed tariffs have already been changed to reflect the upcomming price rises. If you fixed early this year your probably alright. Fixing now is hit or miss though. Certainly for me atleast the cheapest supplier still has a £150 early termination fee.
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I think that tarriff just posted above has no exit fees though, so I'd be tempted if it was me.
 
Uther said:
I think that tarriff just posted above has no exit fees though, so I'd be tempted if it was me.
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The unit rates are higher than even an 77% increase though which you would pay from today, its so hard to judge right now.

I'm kinda hoping that our governments complete lack of action is based on them assuming things will clam down rather than utter incompetence.... oh god we are screwed aren't we :o
 
413x said:
Said this a while ago.
People like fixing. I think many didn't because of the advice.

Don't blame him as no one thought it would get this bad. But yeah I think that advice cost a lot of people
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I don’t blame him, however I don’t think it was un predictable.

I invested into solar in January at I thought prices where going to get £35p/kwh. The company who install thought 50p/kwh was not unrealistic (yes they are biased)

This was when my fixed rate (ended in June) was 16p/kwh. I knew something was up.

I have only just fixed on octopus GO as that’s how long it’s taken to move and get a smart meter.
 
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Puzzled said:
The unit rates are higher than even an 77% increase though which you would pay from today, its so hard to judge right now.

I'm kinda hoping that our governments complete lack of action is based on them assuming things will clam down rather than utter incompetence.... oh god we are screwed aren't we :o
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Yeah I'm happy it's not a decision I have to make.I wouldn't be relying on our (non functioning) government to save us...
 
Puzzled said:
The unit rates are higher than even an 77% increase though which you would pay from today, its so hard to judge right now.

I'm kinda hoping that our governments complete lack of action is based on them assuming things will clam down rather than utter incompetence.... oh god we are screwed aren't we :o
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I did my calculations on the bill when I did mine in June not units, if that's right or wrong I don't know. On that bill with a 77% increase that would put it around the £130 mark I think.
I don't have much faith in the government doing anymore, but a lot of people at work seem to think they will.
 
I'm leaning towards taking the deal... It's a 50% increase in current payments (£80 to £120) which, 4 weeks or so ago, was probably the new Oct price cap but that now looks to surpass 70% increase.

There are no exit fees on the products so, should the price cap not go as high, I can come out of it and the only "penalty" would be a couple of months extra payment (£80 total - £40/month extra DD)

If there were exit fees it would be a definite no
 
badtooth76 said:
I did my calculations on the bill when I did mine in June not units, if that's right or wrong I don't know. On that bill with a 77% increase that would put it around the £130 mark I think.
I don't have much faith in the government doing anymore, but a lot of people at work seem to think they will.
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I believe the price cap is on the unit price and then the yearly cost based on average unit consumption x unit cost. I've always ignored monthly cost estimates and based it on my actual usage.

Happy to be corrected though as it would help work out my own expected cost increase.
 
Puzzled said:
I believe the price cap is on the unit price and then the yearly cost based on average unit consumption x unit cost. I've always ignored monthly cost estimates and based it on my actual usage.

Happy to be corrected though as it would help work out my own expected cost increase.
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I don't know how the price cap is worked out, with them saying your average yearly bill will go up by such a %, I found it easier to do it that way. Done on units it will be less.
 
413x said:
Said this a while ago.
People like fixing. I think many didn't because of the advice.

Don't blame him as no one thought it would get this bad. But yeah I think that advice cost a lot of people
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It's his job. His advice not to fix in September/October 2021 has likely cost most people more money than he's saved them in 20 years of money saving tips.

rojones said:
In fairness he has said for some time now if you could get a fixed within x% of the price cap in october to go with the fixed. Thats what i did many months ago. Although BG still havent moved me, but holding on to the confirmation email for dear life and have contacted them twice since. But ever since i got moved form peoples energy its been a disaster with BG in terms of sorting out accounts.
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Too little, too late.
 
bigmike20vt said:
which is why you choose a fixed tariffs with no exit fee.
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Its not the exit fee thats an issue its the penalty your new supplier has to pay to your old one if you switch
Its been bumped up and basically means there cannot be any cheap deals even if the price plummets as your new vendor will have to pay a really hefty premium to your old one
 
MatsyLR said:
Do any suppliers even offer no exit fees on any fixed tariffs right now?
EDF has £150 on all the fixed tariffs atm.
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I doubt it, but its nigh on impossible to get more than a handful of quotes anyway
I did manage one the other day, the scottish power one they did give was £lol.
EDF wouldn't give me one.

I am semi resigned to stay with BG for now.
There is an outside chance I may switch to octopus depending on how my potential solar install goes (inc battery) since we have a hybrid I think we can probably get on one of the tariffs with the cheap overnight window in order to charge the battery.
Will look more seriously at the option when I know if I am actually going to be able to secure the solar within a reasonable timescale.
 
Surveyor said:
It's his job. His advice not to fix in September/October 2021 has likely cost most people more money than he's saved them in 20 years of money saving tips.


Too little, too late.
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It was a no win situation. The suppliers' fixes were all higher than the projected cap level at the next rise and no-one was predicting increases to the level we've seen. Second if he told people to fix and the prices came down or stabilised then people would have been paying more - to my knowledge you can't drop back onto a default cap tariff once in contract. Third all the fixes were starting immediately but the cap rise didn't come in for another number of months at the time, so people would have been overpaying for those intermediate months.

Lots of people here have benefited from fixes now in hindsight however those same people have been overpaying compared to market cheapest rates for years before. One poster above said his fix ended in June last year at 18p/kWh which means he was paying that for a year before when I was paying 12p/kWh.
 
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