Nobody can predict the future. Most of his dont fix was based on the fact that there were hardly any providers actualy offering any kind of realistic fix options, once there was he set out his stall as to the fix options.
Energy Prices (Strictly NO referrals!)
- Thread starter DXP55
- Start date
Soldato
Kinda wrong here. If the prices dropped hard in sept the cap would still basically be a 77% increase as the cap is based on the previous 6 months performance and trends so realistically prices wouldnt drop until January at the earliest
Associate
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- 2 Sep 2007
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I’m with British Gas on their Energy Plus Protection Mar 2024v3. The prices are fixed until 31st March 2024. Electric is 19.59p standing charge per day and 19.57p per unit. Gas is 17.13p standing charge per day and 4.25p per unit.
I’ll be moving house in a few months. Does anyone know if I can take the tariff with me?
I’ll be moving house in a few months. Does anyone know if I can take the tariff with me?
Soldato
I believe it is the case but I don't know for sure.
When youre in contract I would doubt a supplier would let you drop onto default tariff so you would have to wait until your contract expires and not renew.
And you can't switch supplier without choosing a contract deal, there's no means to switch onto default tariff that I have seen. All the people on default tariffs right now are those that have been switched on supplier of last resort when retailers went bust or those whose existing fixed terms have ended.
Soldato
If those people took a 12 month fix back in October/November then they would be coming off it right at the wrong time anyway. Also, in the last 12 months the SVR has been lower than any of those fixes, so they have saved money all year.
Yes, there were probably 24/36 month fixes but that would have been at a higher cost and risky given the information available on future pricing back then.
If you think you can do better, then let me know what the Euro Millions numbers will be next August
Soldato
It's really a gamble at this point to be honest. Full disclosure i work for EonNext but i say this as a personal opinion.
You're offered 50.71p/12.86p for Elec and Gas respectively and the 77% jump on the cap would take you to 49.27p/12.99p which isnt far off the offered price. However we're already hearing projections of 20-30% increases in January and there is no slow down from Russia in Ukraine plus as we get closer to winter its entirely expected Gas prices will rocket even more. If that 20-30% hits in January you will 100% my out of pocket compared to fixing even a 4% increase in January will be costing you more.
Personally im expecting the 77% figure to be revised to 85% before the price cap hits in October as gas futures are still floating around all time highs. Literally the same day they announced the increase from 65% to 77% i was looking at the gas future prices and posted in here that i expect it to jump to 75% by mid-end of sept and 8 hours later it came out as 77% so i'm really convinced we can see 85% for Oct. If the war continues until November at least i expect 20%+ to be very likely in January.
My personal opinion would be fix if you want to budget this winter and potentially protect yourself form January hikes plus if prices drop off rapidly then switch with no exit fees and make the best of both worlds
Soldato
Who with? That gas price is mentalThis is the best fix I've been offered.
Elec:
SC: 47.86p /day
Unit rate: 57.72p /kwh
Gas:
SC 27.22p /day
Unit rate: 17.26p / kwh
Soldato
Typically unless its a product that allows you to move it to a new property the answer is no. You might be able to argue with the supplier to keep it if you are nice and a bit stubborn and they already supply the new property but if they dont supply the new property then 100% no IMO
Associate
Assuming you'd be paying road fuel pump prices I don't think so. Not sure on the lower duty/red diesel aspect anymore - I think it's still sort of available but not really so would need looking into.
Petrol generator powered by LPG however is now looking pretty much at parity or better vs grid electric.
If you're actually considering this, there are a couple of electric providers who offer (or did offer) a 0-standing charge supply with elevated unit rates. I don't have my spreadsheet to hand so you'll have to look them up - I think one of them was a small subdivision-type company of Octopus. Believe they were prepayment only. This is a key component in getting the 'partially' off-grid setup up & running economically, on the basis your generation won't be perfect & you will likely need to draw from the grid occasionally.
I have mini-split AC on a separate consumer unit & was gearing up to experiment with home electric generation, but have gone a slightly different direction now. Have just had a delivery of seasoned wood for winter heating, & am going to give cardboard / domestic refuse incineration a go using an old multi fuel back boiler connected to the boiler flow/return. We fill a big wheelie bin seemingly every week with cardboard/recycling so i'm trying to put it to use at home
. I've just about finished a wooden mould I can use in a hydraulic press to create the 'logs'. It's obviously terrible for the local environment to be burning rubbish but my only consideration right now is money & i'm interested to see just how much I can reduce our energy costs this winter with minimial compromise on indoor temp.
Caporegime
Holy **** its really that much per KWh in the uk?
Mr Lewis is the one holding himself out as "the money saving expert".If those people took a 12 month fix back in October/November then they would be coming off it right at the wrong time anyway. Also, in the last 12 months the SVR has been lower than any of those fixes, so they have saved money all year.
Yes, there were probably 24/36 month fixes but that would have been at a higher cost and risky given the information available on future pricing back then.
If you think you can do better, then let me know what the Euro Millions numbers will be next August
If I do put any up, they'll be LED bulbs.
Associate
- Joined
- 2 Sep 2007
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- 1,976
Yes and come October it’s going to be catastrophic for folks. I’m not sure if the government understands, if folks are spending all of their money on mortgages/rent and energy there won’t be an economy. How much is it over there?
At the moment it's capped at about 28p but in October it will rise.about 80%