Ah ok ta, ********
Energy Prices (Strictly NO referrals!)
- Thread starter DXP55
- Start date
Associate
Mad. But thats not the price cap.
Associate
Yeah I know.. But a 3 year fix and look at the exit charge!
Ofgem only estimated it before, seems it wont be set until end of August.
Octopus offered someone 38p electric and 12p gas as a fixed, never seen anything like that from for other customers on Octopus, so seems some customers are getting special deals.
Although not as good as tracker v3 gas 11p and Agile 2018 35p electric.
Look how fragile/volatile the market is, can see the effect of the russian pipeline news here.
Octopus Energy latest Tracker prices for Southern England
See the latest prices and graphs for Octopus Tracker.
mysmartenergy.uk
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Going by their 8 weeks usage, their direct debit should be set to around £400/pcm, which will also spread the owed £700 over 12 months. People are quickly realising that just because you fix a direct debit, it doesn't give you free reign to use whatever you like.
To be honest, if someone thinks if they fix they can use whatever they like with no consequences they are any idiot (or lacks the understanding needed to function in the real world which could have many causes) Probably need financial responsibility taken away from them also.
Indeed, but it does happen more than you might think.
I should have said in my previous post that I tried to anticipate the new fixed prices in my calculations.
Oh yeah I know it happens, I come across at least one of them every week and just roll my eyes. I can't tell if they are ignorant or just trying to be awkward to get money off.
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Soldato
- Joined
- 27 Mar 2013
- Posts
- 9,238
I don't think it helps when the stupid fap amount is quoted, I.e. its going up to 3 grand a year. I think places should quote the cap I terms of kwh to eliminate any confusion, as the yearly number means nothing really.
Soldato
I think the issue with showing a projected kWh cap is that the SC varies depending where you are in the country so setting the kWh cap would put some people under the total cap and some over it.
I could be wrong though?
I could be wrong though?
In the quotes it does mention that your monthly price will be re-assessed every 6 months based on usage and will change. Many people ignore it though and only take in "fixed for 2 years" then whine about there DD being increased 6 months later. It happens all the time with new customers who think they got a great deal as they have been quoted £50 on average usage then there DD doubles because they are far above the average in the area and don't understand it.
Associate
The cap IS in terms of price per kwh and price per day.
Showing the projected caps as an average value of what people would pay per annum is really very inaccurate - I can't stand that they do it. Just tell us the unit rates ffs. That way I can work out exactly what I'll be paying rather than extrapolating from some fuzzy "average" which has no relation to my usage.
Soldato
If the cap is a mix of both kWh and SC and SC varies across the country, then the unit rate will also vary to come to the same total cap so how do you show the cap kWh for everyone?
i.e. if 2 people are on the max price cap and person A is paying a higher SC than person B, then person A's kWh rate will be lower in order to stay within the total price cap
i.e. if 2 people are on the max price cap and person A is paying a higher SC than person B, then person A's kWh rate will be lower in order to stay within the total price cap
Associate
There is no total price cap - this is my point. These things saying ZOMGPRICECAP=£6000 are misleading.
The cap is on standing charge rate per day and on price per kwh.
Media/ofgem/whatever then take some average of the usage in kwh and average of the regional price caps to come up with the meaningless number.
Soldato
Ofgem only estimated it before, seems it wont be set until end of August.
Octopus offered someone 38p electric and 12p gas as a fixed, never seen anything like that from for other customers on Octopus, so seems some customers are getting special deals.
Although not as good as tracker v3 gas 11p and Agile 2018 35p electric.
Look how fragile/volatile the market is, can see the effect of the russian pipeline news here.
Octopus Energy latest Tracker prices for Southern England
See the latest prices and graphs for Octopus Tracker.
Wish Octopus would offer me those rates! Just checked my account and the "loyal customer" fix rate for gas is 17.26p!!!
Even if the cap goes up by 100% in October, that's only going to be ~15p
What I do is I have a separate current account just for bills and have for a while been putting a bit extra into it that will cover what ever happens with energy bills. I can just forget about it that way.
Anything left in my main current account I can do what I like with.
As has been said it's amazing how many people just can't look after their money.
Soldato
Two points:
1. Some people don't have spare money to do that in the first place.
2. If more of your money is going on energy bills then less is available to spend on nice things, self development/hobbies and in turn this will effect the economy, especially small businesses and tourism who rely on that disposable income.
You might be able to manage, many of us can manage, but that does not mean it's right that we keep less of our money. It may as well be a tax increase it's the same effect.
Soldato
EonNext bumped the fixed price offerings again last night in light of the rumours yeseterday that the increase will be worse again than the 77% projected.
New rates i've seen are 52.39 elec and 13.27 gas for my dad but i locked him in a few weeks ago now at 44.51 / 11.36 and even then i thought that was on the upper end and bloody expensive
New rates i've seen are 52.39 elec and 13.27 gas for my dad but i locked him in a few weeks ago now at 44.51 / 11.36 and even then i thought that was on the upper end and bloody expensive