Energy Prices (Strictly NO referrals!)

[The_Arbiter]

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Some people think i'm weird for making various tables and price checks, so good to see i'm not alone

Before CV i was seeing how summer went before i made a decision to change jobs/direction, then when CV hit it that got put on hold, and since last year's inflation becoming obvious i've been treading lightly on what to do next.

I wonder when public confidence will start dropping as i still get the impression everything's all good from my area/work area.

 

[antijoke]

How are people genuinely going to afford the price rises they have mentioned here? Ours is currently £120 a month for gas/electric which is fixed until 2023, but seeing the numbers quoted of some peoples being £300+ I’m just curious how they will be affected as I know if ours doubled to £240 a month it would be pretty catastrophic (family of four with two kids) coupled with the rise in everything else how are people doing it?

 

[Freefaller]

How are people genuinely going to afford the price rises they have mentioned here? Ours is currently £120 a month for gas/electric which is fixed until 2023, but seeing the numbers quoted of some peoples being £300+ I’m just curious how they will be affected as I know if ours doubled to £240 a month it would be pretty catastrophic (family of four with two kids) coupled with the rise in everything else how are people doing it?

It's going to require some sensible budgeting and perhaps less waitrose shops, more sainsbury's shops (slightly tongue in cheek comment but you get the point), or cutting back on some luxuries or unnecessary purchases. Or not going onto a fixed rate, and letting it roll over to the SVT.. but we won't know until october what the next cap will be. £300 a month is going to be crippling even for those that are earning reasonable amount. that's nearly £2k per year more. for those who are already struggling, it's going to be really really tough

 

[ci_newman]

How are people genuinely going to afford the price rises they have mentioned here? Ours is currently £120 a month for gas/electric which is fixed until 2023, but seeing the numbers quoted of some peoples being £300+ I’m just curious how they will be affected as I know if ours doubled to £240 a month it would be pretty catastrophic (family of four with two kids) coupled with the rise in everything else how are people doing it?

Personally I have already started my medium-term budgeting on where I can cut costs, planning to cancel subscriptions when the contracted period ends etc. My Sky subscription is already gone (saving £60/month) and likewise when things like mobile contracts lapse, we'll scale everything back. If it comes to it we'll stop the extra-curricular activities for the kids too, no more swimming lessons, music lessons etc (swimming lessons are £50/month per child at our local pool).

 

[antijoke]

I see, I’m already looking at what sort of things can be cut away (Sky etc) to trim things down.

Makes me shudder to think of people who earn substantially less than I do of the impact on them.

 

[Haggisman]

My energy fixed price ends on 31st May and I've just been looking around today. We currently pay around £165/month but the best price I can get is £310/month. That's an increase of £1740/year, practically doubling our current cost.

It's not ridiculous, it's criminal.

Similar story here - we currently pay £115/month, with our fix ending 1st April and going on to the SVT looks like it's going to be ~£265/month which is bad enough, but the cheapest fix is ~£298 (2 years), and it's a very difficult decision atm. Definite £30/month more vs potentially £500/month+ in October if we see a similar increase?

 

[Freefaller]

I won't be cutting things for kids - I want them to continue to get all the experiences they can. But downgrading internet etc... Already changed car which has saved me over £200 per month. Things like foreign holidays we'll have to reduce, but I really want to make sure we're providing the kids with as much cultural diversity but also see our family (who all live abroad). I guess we're part of the group that will largely be ok, but it doesn't hurt to be more careful with how we spend money, even knocking the thermostat down by 1C will be worthwhile.

I guess we're going to have to ride it out and hope that a long term and more affordable solution is on the other end.

Perhaps this will help the governments of the world and the energy sector to focus on better ways of getting energy? Too much wishful thinking?

 

[Hagar]

I won't be cutting things for kids - I want them to continue to get all the experiences they can. But downgrading internet etc... Already changed car which has saved me over £200 per month. Things like foreign holidays we'll have to reduce, but I really want to make sure we're providing the kids with as much cultural diversity but also see our family (who all live abroad). I guess we're part of the group that will largely be ok, but it doesn't hurt to be more careful with how we spend money, even knocking the thermostat down by 1C will be worthwhile.

I guess we're going to have to ride it out and hope that a long term and more affordable solution is on the other end.

Perhaps this will help the governments of the world and the energy sector to focus on better ways of getting energy? Too much wishful thinking?

The trouble with energy is however green is its production, using it still produces heat and noise etc. Reduction of energy use is far more preferable.

 

[Freefaller]

The trouble with energy is however green is its production, using it still produces heat and noise etc. Reduction of energy use is far more preferable.

Yes indeed... so more efficient homes, offices etc... are required. Technology whilst good requires power and technology use is increasing.... I know I know, it's a small element of a bigger picture. Need better circular economy models but for energy.

 

[Pawnless Endgame]

My energy fixed price ends on 31st May and I've just been looking around today. We currently pay around £165/month but the best price I can get is £310/month. That's an increase of £1740/year, practically doubling our current cost.

It's not ridiculous, it's criminal.

I'm fixed until 31st May as well. £80/month gas/leccy per month for a single person 1-bed household. The quotes that I'm getting now are coming in at £160. Paying double the amount with nothing to show for it.

The start of this crisis coincided with the run-up to COP26, so I suspect that's party to do with it.

General advice on MSE (Money Saving Expert) forums seems to be go non-fixed.

 

[Uther]

I'm fixed until 31st May as well. £80/month gas/leccy per month for a single person 1-bed household. The quotes that I'm getting now are coming in at £160. Paying double the amount with nothing to show for it.

The start of this crisis coincided with the run-up to COP26, so I suspect that's party to do with it.

General advice on MSE (Money Saving Expert) forums seems to be go non-fixed.

It's too late to go fixed now IMO. I was lucky enough to get a 3 year fix towards the end of last year at £125 a month. If I was looking now I'd be pretty boned.
Some of the people at my sons workplace are on little more than minimum wage, Christ only knows what people like that are going to do.

 

[Vern1961]

Just had an email from SSE. Gas D/D going up from £50 a month to £79 and electric from £51 to £72 from next month. Already on the cheapest standard tariff with dual fuel and direct debit. No point in switching as they will all be the same, plus would require a smart meter installing.

We are in the process of trying to get our boiler changed as the present one keeps breaking down so that will be more energy efficient, but Christus.

Diabolical.

 

[Turn]

If it makes you feel any better all the big oil companies like BP, Shell etc are making massive profits........

Free market isn't it?

 

[drakulton]

Won't be able to buy loo rolls now till next year.

Hopefully by next year we may have used enough loo roll to be able to get into the spare room.... Damn panic buyers.

 

[inferno]

Our economic model is built on kicking the can down the road as many times as possible by flooding the markets with cheap debt and hoping that the numbers just keep going up, which will delay recessions but make them more painful when they hit. I would argue that we never really recovered from the credit crunch, given that government debt took off in the aftermath and hasn't looked back since.
I've gave up moaning about loose monetary policy years ago though. No one wants to hear about it until their own wallet suffers. It's also one of the big reasons why I stopped voting years ago - truly important issues like that are off the table.

/rant

Nobody realised this, I’m buying as much btc as possible.

 

[NotAGolf]

I'm not wealthy by any means, but I'm likely in a better position than most, but these increases are still really worrying me.

Combine the energy price rises with big inflation, rising interest rates, crazy house prices and whatever the hell is about to kick off in Russia and it all feels like a bit of a depressing outlook at the minute .

As others have said already, christ knows how those already on the breadline are going to be able to cope with this. I really feel sorry for them.

 

[Uhtred]

We're not on the breadline but we're going to have to cut back on things to pay for the increased rates. I am not impressed with the response from the government at all.

 

[LabR@t]

My direct debit is increasing from 140 to 270, joy!

This might actually be the breaking point of the country, either that or more people will just rig their meters.

My standing charge is doubling for electric, how is that justified?

The standing charge needs to be scrapped, I mean what the hell is it for? Connection charge I get but monthly what?

 

[LabR@t]

We didn't have a car to run. Or central heating either.

Or computers, phones etc.

We had a massive 19" TV it was colour with a remote with a wire....

 

[Diddums]

I see, I’m already looking at what sort of things can be cut away (Sky etc) to trim things down.

Makes me shudder to think of people who earn substantially less than I do of the impact on them.

Earn more money.

As arrogant as it sounds, my mantra has always been to earn more money. Especially in today's market, it's possible. Just look at your website skills. You could do one or two sites a month and that'd easily cover the increase, better still, get a few local businesses to sign up to a maintenance contract. Less work, more money.

I've been watching the world of economics and the attitude people have towards their lives and careers and it's genuinely made me realise what a mug I am for sucking on the corporate teet for so long, getting paid as little as my company can get away with paying me.

I'll likely start my own business in the next year or two, but in the mean time, I'm doing loads of little odd jobs for other folks which earns me enough to cover this anticipated increase and then some.

Find ways to bump up your income, everyone has something they're good at and can charge for it. In your case, it's web development. You've already got one recurring client