80k is very very comfortable, you can sugar coat all you want by living in London.
Energy Prices (Strictly NO referrals!)
- Thread starter DXP55
- Start date
80k is very very comfortable, you can sugar coat all you want by living in London.
Soldato
Fair. I hadnt got on the link, was just responding to the written post. That be good for some then.
If they only 0.5p over then you could still be down to 17p and 4p respectively but it would just make more sense to move everything to the same figure at the 34p and 10.3p then regardless of what your fix was prior.
Soldato
Joint income of just under £70k here with 2 kids, and while we're far from rich, we're doing just fine (although recent price rises in everything have certainly made a significant dent in our disposable income).
Definitely situation dependent though - if you have family who can look after them or they are of school age (as in the case of one of ours) then that massively decreases your childcare costs which can be huge! If our childcare was double (e.g. both were younger) then it would be a different story.
I'm guessing it's supposed to read that fixed rates will be reduced by UP TO 17p/4p, will definitely be interesting to see what they do with the various octopus smart tariffs though
Man of Honour
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- 21 Nov 2004
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So apparently we have no exit fee on our fixed rate, so I’ve told the wife to bin it. Were on 44p for elec and 11p gas. On the plus side I’ve already brought our bill down a fair bit. DD is £170, about £260 on credit and our last bill was £141. The next bill should come down a bit more too.
Soldato
May as well see what adjustments they make to that first, should match the variable or even potentially beat it.
Soldato
You're in Birmingham. Not London / south east.
A young family in London / south east would likely be struggling on 70k household income (especially younger families as you've acknowledged).
People who live away from that region often don't (or choose not to) understand this and tend to just retort "well you chose to live there", which is fairly ridiculous as lots of careers and opportunities do only exist in London or they might have family ties etc. People just don't seem to be able to accept that just because someone earns more than you, their circumstances can very much mean they are not rich. "Rich" is household incomes that are many multiples of what we're talking about here, this is just infighting to distract from where we should really be looking to recover taxation from (windfall / mega profit tax / tax on vacant multimillion pound properties etc)
Soldato
Well Sainsburys have let me change my direct debit amount back down to £74 p/m from the £231 p/m they raised it too which is good and the standard variable prices are now showing online, will wait and see what my new fixed deal drops down to.
Soldato
Oh I agree completely - Well aware of South East costs as my brother lives in Cambridge and his rent is eye-watering. My post was more in response to the fact that £80k can be comfortable even with a couple of kids, but London and surrounding area may as well be a whole different country in terms of economy & costs!!
Man of Honour
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Yes, it sounds like your right. I just read E.ons website. We’re meant to be on their best deal, so one would hope it would come down. That bodes well for our next few bills.
Interestingly I’ve looked back to a previous bill I could find, May, where we paid the same price, but at over half the unit price, so I’ve definitely impacted our energy use.
Soldato
Yep, you've got time anyway for them to announce stuff as new cap is still from 01/10, I expect it will be clearer what you'll be paying by then, but I don't think it will be above the cap values.
Soldato
I'm sure there is an easier, and less complicated way to do all of this; just publish the new capped unit costings and simply shift everyone above it to this new tariff rather than tinkering with the myriad of existing fixed tariffs.
Soldato
Possibly easier to implement on mass with the old systems suppliers have in place, than adjusting everyone's various tariffs to the same rates.
Yes - at the very least,
Government could demand that the new £2.5K cap will have the accompanying condition that OFGEN ensures the market is re-opened so that all contracts are available to new customers,
otherwise the tax payer will be subsidising fixed 'best deal' contracts.
Government could demand that the new £2.5K cap will have the accompanying condition that OFGEN ensures the market is re-opened so that all contracts are available to new customers,
otherwise the tax payer will be subsidising fixed 'best deal' contracts.
Soldato
Confirmed to be around 10.3p unit gas, and 34p unit for Electric now.
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I am on a fix deal (Eon NextFlex 17) until Aug 2023.
I've put those new figures into my spreadsheet and kept the SC the same.
It will reduce my monthly DD from £112/month to £88/month which is an annual saving of £288.
If the £400 I was expecting is already accounted for in the new tariff rates then this freeze is actually worse off for me than no freeze and keeping on my fix. This is also dependant on how long this freeze is for after my fix ends of course.
Can anyone confirm if the £400 is still to be paid over and above the unit rates mentioned in the government link above?
Soldato
I believe it will be in addition to, so that the actual average cap level is around £2100.
Soldato
Yes it's still coming.
Associate
From what I gather looking at graphs my bills will go from current £140 to about £160/month and stay there for 18 months, at which point we'll need extended financial support from the government or be right back to square one and more increases. It could be like this until we fix it ourselves - assume it won't change, so install solar, get a heat pump, get insulation, levies for gas are planned to be moved to electricity over the coming years for green/common sense reasons.
Gov should be making it illegal to build anything that doesn't meet passive house standards. Write to you local MP. Or just carry on doing whatever this is
Gov should be making it illegal to build anything that doesn't meet passive house standards. Write to you local MP. Or just carry on doing whatever this is
Soldato
Cheers... It's kinda clear as mud on that from all the different places I have looked.
If they could just have kept it simple with unit rates, instead of average use, and what additional support people are getting then it would be less confusing.