Energy Suppliers

robj20 said:
Just out of interest what are people paying a month for electric. I've averaged £55 last two months which to me is a lot.
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About 60 for just myself.

I am about £700 in credit they keep hiking the DD, I have now contacted them asking them to either reduce the DD or send me the cash as its got out of control now the amount they holding on to.
 
MissChief said:
I’ve just gone with Octopus with a referral code from here, £92pm which is still shocking. As someone has said above rises like this will push some into heating or eating. £100 is a lot of money to some people, £100pm month is a major drain for many families and the elderly.
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There is people already making those decision's, these hikes will be very cruel to the poorest in this country and the regulator should have stepped in, in my opinion. VAT probably should be refunded to anyone on UC and below a certain salary threshold.
 
chrcoluk said:
Am I missing something? why dont we just build new power plants instead of importing, with this country its always short term gain over long term cutting corners.
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Powerplants can take years to build, never mind the years and years of planning permissions, objections by the locals, disagreements over pricing of land etc. The new Nuclear Reactor at Hinckley, Hinkley Point C nuclear power station - Wikipedia started construction in 2018 yet isn't expected to be complete until 2025 and I wouldn't be surprised in the slightest if that slips. It's cost £25 Billion already, and will likely cost more.
 
MissChief said:
Powerplants can take years to build, never mind the years and years of planning permissions, objections by the locals, disagreements over pricing of land etc. The new Nuclear Reactor at Hinckley, Hinkley Point C nuclear power station - Wikipedia started construction in 2018 yet isn't expected to be complete until 2025 and I wouldn't be surprised in the slightest if that slips. It's cost £25 Billion already, and will likely cost more.
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I am well aware, these decision's should have been made decades ago, you dont wait until there is a crisis, hence the short termist comment. Looking at the history, and what was pointed out in the bbc video I just linked, it looks like the gov was simply banking on the market to "make it work".

So to rephrase as I thought it was obvious, why didnt we build new plants before the old ones were shut off so we had replacement supply without imports.

To put things into perspective the BBC video was made in 2004 and they were predicting the problem, yet they only started building that plant 14 years later.
 
I’m currently with Outfox the Market and recently had my gas/elec meters replaced with SMETS2 ones. I’m waiting to switch to Octopus Go as I have an EV and want to take advantage of their night time rate.

My problem is the waiting for the smart meter readings to be picked up by my supplier, currently they’re not. Should I initiate the switch to Octopus now or am I better to wait until my meters start being reported by Outfox?

Outfox are putting my prices up by a hefty amount starting next month so I’d like to switch sooner rather than later.
 
Brace yourselves ladies....

Four more small energy firms could go bust next week
https://www.bbc.co.uk/news/business-58610561

Not at all surprised that more are likely to go under. I expect the rate of smaller energy companies going bust to increase in the winter if gas wholesale prices keep going loopy considering all of the smaller suppliers are buying on day prices rather than 14 months in advance like the bigger companies.

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What's the score with people who are locked in on fixed rates with the major providers? I am with Scottish Power (think they're one of the major providers?) with a fixed rate until May 2022, so I still have 8 months left with them. No doubt they'll push up their prices too mid-contract, like what the mobile phone providers do.

Home insurance is just as bad. I was paying £160/year for a small 1-bed terraced, and now it's £180/year even though I have never made a claim.
 
Goodie said:
Can’t help but think that a narrow few will be making an absolute killing with all of this.
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I've gone back to one of the big 6, something I never thought I would be doing again. I suspect that might be all that is left at this rate.
 
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