Energy Prices (Strictly NO referrals!)

Surveyor · 22 Aug 2022 at 11:34

pinkpound said:
Electric 5,933 kWh
Gas 11548 kWh
What they estimate from lasy years usage , we have been cutting back some more to come

At average current price cap prices that's £2,797/annum. An 82% increase is expected from 1 October giving £5,090 p.a.

If you take account of the £400 from the government that's £4,690 p.a. or £391/month.

£239/month doesn't look like it's going to be anywhere near enough unless you have significant credit and/or make significant cutbacks.

Delvis · 22 Aug 2022 at 11:34

Mint8 said:
Paying £87 pm - new fixed deal £365 !! EDF.

It'll be like this for a while...then they'll lower it (but obviously to higher than it was before the hike) to make it seem like we're saving money.

Much like what happens with fuel.

glenimp617 · 22 Aug 2022 at 11:41

Mint8 said:
Paying £87 pm - new fixed deal £365 !! EDF.

I'm going to rethink my future bills. Had £300 a month down ready for coming off our fixed rate, but will increase this to £400 now.

Trying to overpay our mortgage to get it off quicker, but things seem to be going against us. Just can't shake debt off. It's like someone is trying to keep us all in debt forever.

My gas/elec is currently £100, so that's an extra £300 a month which 'could' have gone off the mortgage :mad:

Uther · 22 Aug 2022 at 11:43

Surveyor said:
At average current price cap prices that's £2,797/annum. An 82% increase is expected from 1 October giving £5,090 p.a.

If you take account of the £400 from the government that's £4,690 p.a. or £391/month.

£239/month doesn't look like it's going to be anywhere near enough unless you have significant credit and/or make significant cutbacks.

Brutal.

the shadow · 22 Aug 2022 at 11:43

pinkpound said:
Electric 5,933 kWh
Gas 11548 kWh
What they estimate from lasy years usage , we have been cutting back some more to come

actual and estimate two different things you might find :cool:

Slam62 · 22 Aug 2022 at 11:44

I'm psyching myself up(down) for 600 quid in February when my current fixed rate ends. I'm not counting on this left wing government giving me anything as a just about managing.

Ahleckz · 22 Aug 2022 at 11:44

Surveyor said:
At average current price cap prices that's £2,797/annum. An 82% increase is expected from 1 October giving £5,090 p.a.

If you take account of the £400 from the government that's £4,690 p.a. or £391/month.

£239/month doesn't look like it's going to be anywhere near enough unless you have significant credit and/or make significant cutbacks.

I’m using 8935 gas and 3007 Electricity over a year.
Currently paying £89. Current variable would have me paying £147. Fix would have me at £285.
To get Octobers figures I’m just multiplying the current variable by 1.82. Is that a fair assumption? Therefore Octobers variable would be £269.
This is before the government ‘help’.

Seems it may be best to not fix…

V F · 22 Aug 2022 at 11:45

dave1983 said:
With putin threatening to cut off supply this will not help, the problem is if it does get to 6k what is the government going to do? they haven't really helped apart from Small handouts.

My only advise is to save now or as much as you can, but it's impossible with rent/ cost of living going up.

Suicides are going to be through the roof as debt piles up

I actually never thought of that long term when this goes on 6 months from October.

Tephnos · 22 Aug 2022 at 11:48

We all poor in here yet?

Surveyor · 22 Aug 2022 at 11:52

Ahleckz said:
I’m using 8935 gas and 3007 Electricity over a year.
Currently paying £89. Current variable would have me paying £147. Fix would have me at £285.
To get Octobers figures I’m just multiplying the current variable by 1.82. Is that a fair assumption? Therefore Octobers variable would be £269.
This is before the government ‘help’.

Seems it may be best to not fix…

As far as I know we don't have a breakdown of likely increases in standing charge and unit rates so the overall increase is all you can go on.

When doing your calculations it's worth noting it looks like there will be significant increases again in January and April. A 12 month (presumably) fix at not much over the likely October rates may not be such a bad deal when you do the sums.

Slam62 · 22 Aug 2022 at 11:53

V F said:
I actually never thought of that long term when this goes on 6 months from October.

I think the west (US and UK mostly) will ramp up military support for Ukraine in the hope of getting rid of Putin and replacing him with someone more helpful. The sooner they do this the better.
Wouldn't surprise me to see more overt support and encouragement of disruption in Russia.

RobTi · 22 Aug 2022 at 11:55

anyone help explain why my dd goes up 2-3 times a year but i am on a fixed tariff till next year, tried calling but couldn't understand what they were saying ?
Thanks

Uther · 22 Aug 2022 at 11:56

RobTi said:
anyone help explain why my dd goes up 2-3 times a year but i am on a fixed tariff till next year, tried calling but couldn't understand what they were saying ?
Thanks

I assume you're using more energy.

RobTi · 22 Aug 2022 at 11:58

Uther said:
I assume you're using more energy.

no if i check usage its less this year, all they say is that the overall cost is increasing and it will average out at the end of the year, this happens ever year and i then ask for a rebate, but the advisor says no its accurate atm

200sols · 22 Aug 2022 at 11:59

Probably so you have a credit buffer when your fix ends and you get hit with massive increase in costs depending on how cheap the fix is.

Surveyor · 22 Aug 2022 at 12:01

the shadow said:
actual and estimate two different things you might find

They might but it's based on actual usage so should be pretty close.

RobTi · 22 Aug 2022 at 12:02

oops my mistake on further investigating i am up 30% on electricity and down 30% on gas this year to last year, so off to check what has changed

jpaul · 22 Aug 2022 at 12:02

repost cap estimate breakdown

Ahleckz · 22 Aug 2022 at 12:04

Surveyor said:
As far as I know we don't have a breakdown of likely increases in standing charge and unit rates so the overall increase is all you can go on.

When doing your calculations it's worth noting it looks like there will be significant increases again in January and April. A 12 month (presumably) fix at not much over the likely October rates may not be such a bad deal when you do the sums.

Yea just looked at it and ran some sums based on the increases MSE suggest.

Look like for October 21 - Sept 22 if I fix I’ll be £285.80 a month. If I stay on variable I’ll be £292.01. Assuming increases are accurate.

I think it’s best to fix, especially as there are no exit fees.

chrcoluk · 22 Aug 2022 at 12:05

200sols said:
Probably so you have a credit buffer when your fix ends and you get hit with massive increase in costs depending on how cheap the fix is.

If thats what they doing thats unacceptable in my opinion, even in ofgem's own words the suppliers are not allowed to factor the following into DD calculations.

Future change of tariff predictions
Future cap changes predictions

They also state if someone has a debit balance the debt has to be recovered in an affordable way to the customer. This one seems to be currently ignored from stories I have read.

I dont want my supplier to manage my money, I can manage it myself

I also want to hold my own money in my account not in their account, unless of course they willing to pay me interest or send me some shares for the cash investment.