Energy Prices (Strictly NO referrals!)

I have electric and oil power at home and I was just looking at home oil pricing. Here is what my last few bills look like.

May 2021 = 0.429 PL
Nov 2021 = 0.516 PL
Feb 2022 = 0.629 PL

Today Quote = 0.924 PL

I was paying 0.325 back in 2016 and it was stable for a couple of years around 0.430.

I use very little oil (to heat water 2 times a week) but winter the heating is on a lot and it guzzles, even with a high efficiency boiler.

Ovo is now telling me my DD for Electric only is like to go from £125 to £210, so not huge (for now at least). I am currently £224.58 in credit at start of the month.

So in simple terms oil has gone up steadily over the last 18 months and my electric is gong up around 68% from October.

We paid £1.16 for 500L back when this kicked off :(

Just topped the tank up before demand kicked in for winter and paid ~89p I think
 
E 3355 51.57 1730.1735
G 6241 14.761 921.23401
Total £2651 or £220 / month as of Oct increase, still gone up and this will be the lowest amount anyone will be paying as its 1 bed flat, ground floor though so its colder from that pov.
I missed off the standing charge so its £2932 or £244/month! I was nearly there yesterday. tip: don't think about this before bed lol.
 
Easy to solve, just allow people on more expensive fixes to drop back to SVR if they cap prices, or cap the fixes at the same prices.

Fixing is always a risk, but I disagree with the idea of punishing those who did it, and rewarding those who didn't. Should be equally applied.
But it's OK to 'punish' people on variables, but not those on fixed rates when the prices rise?

You choose to fix, you live with it.
 
But it's OK to 'punish' people on variables, but not those on fixed rates when the prices rise?

You choose to fix, you live with it.

Normally I'd say no, but this is anything but a normal time.

All of this is academic anyway, nothing may come of any of this, it looks like we need to wait until Thursday to find out what Truss plans.
 
But it's OK to 'punish' people on variables, but not those on fixed rates when the prices rise?

You choose to fix, you live with it.

Risk to not fix, risk to fix. No right answer. I chose not to fix because I thought it might effect future receipt of any Government intervention, however I do think people who have fixed shouldn't be penalised in this either.

Well, quite. If the Ukraine war finished tomorrow and gas prices suddenly crashed because sanctions were dropped on Russia, would those people on a more expensive fix still be complaining because they made a risk to fix on a higher rate?
 
Personally, I think there should be a partial cap, on the first XXX units of gas/electric.

Make sure people can afford the basics, without bankrupting the exchequer subsidising profligate waste/excess usage.

I know there are issues (people who need high energy use machines like dialysis etc) but I agree.

If you want to mine crypto, or you have a hot tub, heated pool etc etc. Crack on. But you'll be subsidising everyone else.

Income tax generally seems to be regarded as a good system. I think same Principles can apply elsewhere.
It also drives down energy use. Which is important as climate becomes a bigger issue
 
Well, quite. If the Ukraine war finished tomorrow and gas prices suddenly crashed because sanctions were dropped on Russia, would those people on a more expensive fix still be complaining because they made a risk to fix on a higher rate?

In normal market conditions sure, I agree with you, but if gov artificially adjust those market conditions, then I think consideration should be made for people on all tariffs and not just SVR.

I would only support this action based on artificial changes elsewhere, otherwise that is what an exit fee is for.

Really though, no concrete plans exist, we are all just theorising at the moment.
 
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