Energy Suppliers

Question is do I lock into a deal now hoping it wont rise further or wait it out some more? My renewal has already gone from 45pm to 75pm.

Jebus my previous rate for Gas was 2.58p per kwh and my "Special" renewal is 6.87p per khw! That's an insane hike!?? :(
 
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Zatoichi.uK said:
Question is do I lock into a deal now hoping it wont rise further or wait it out some more? My renewal has already gone from 45pm to 75pm.

Jebus my previous rate for Gas was 2.58p per kwh and my "Special" renewal is 6.87p per khw! That's an insane hike!?? :(
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Your choice but prices are only going one way it seems.The longer you wait the more expensive it's gonna get. :(
 
Worked for one of the big six until recently.

There where many cheap tariffs last year and the year before which are now expiring.
Those tariffs where probably too cheap in the first place which is causing a double whammy of price increases as there have been multiple increases in price since then + the recent ofgem increase which is separate to the 2-3 increases a year directly from the energy companies.

Lots of people called who where on about 10-12p per unit (electric) and the cheapest now is somewhere in the neighbourhood of 18-20p. This is due to the previously mentioned multiple price increases from the suppliers and the recent ofgem increase.

Customers who on normal tariffs have seen an increase but not as big as some who have experienced a 50%+ increase. Had to deal with lots of customers claiming we are ripping them off and explain they have had VERY cheap energy comparative to other tariffs we offered and now that deal has ended.

The only thing you can do is see what renewal prices your company can offer you and compare it ageism's the companies who are generally much cheaper such as Octopus Energy, Avro Energy etc as they are probably going to be cheaper. In my case I switched from EDF who quoted 18.22p and Octopus gave me a fixed 1 year for 15.32.

You do have to keep in mind smaller companies are recently getting shutdown but one of the popular ones (Octopus) is just growing and growing.

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All the energy providers are as bad as each other, they all use exactly the same systems (SAP), don't have loyalty to ANY company.

Go with whichever companies gives you a FIXED unit rate for 1 or 2 years with no exit fee's and is the cheapest. Also get setup on whats called a Direct Debit Whole Amount Monthly, DO NOT do the Monthly fixed amount the whole amount means you get the direct debit discount and you just pay for EXACTLY your usage every month or every 3 months depending on what you choose. Its much more efficient and means your provider cant randomly wack up the monthly cost for no reason. The whole amount is not advertised anywhere, you have to call the company to get put onto it once you are with them, they do this because the company doesn't want you to do it as they can have YOUR MONEY sitting in there accounts making interest like they can with the monthly fixed and it looks better to the shareholders with all the money sitting there. However it by far the best way to pay your energy.

Switching is very easy nowadays through Uswitch, which usually gives you better prices than directly with the company and you can get cashback through Qudio/topcashback.

Prices are only going to go up, they are not going to go down, get fixed as soon as you can.
 
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RoboCod said:
My octopus energy is 15p/kwh and 5.5p from 2030-0130 at night. I wonder if they'll be hiking those prices up.
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Yeah, mine is similar, 15.64p & 4.5p from 0230-0530, 2.93 for gas.

I guess on the plus side, all the increases might improve gpu availability by killing mining profitability :D
 
Currently on a plan with Outfox the market, current rates:
elec:
14p kwh
19p/day standing charge

New elec rates from Nov (Cant find any cheaper)
24p kwh
49p/day standing charge

Gas current:
2.089p kwh
26p/day standing charge

Gas new(cheapest):
5.408p kwh
29p/day standing charge


That is one hell of a jump for the Electric but the Gas.. well that's more than double.. What the actual?
 
Terrible increases here too, just had notification that our unit rate will be rising from ~12.9p/unit to 16.4p.

The crazy thing is that I cannot find anything better either, just a company called neon reef also at 16.4p. It doesn’t seem long ago that we were at around 10-11p.

Will this get to a point where it’ll be cheaper to just generate your own with gasoil? Be amusing to work that out :p
 
Jez said:
Terrible increases here too, just had notification that our unit rate will be rising from ~12.9p/unit to 16.4p.

The crazy thing is that I cannot find anything better either, just a company called neon reef also at 16.4p. It doesn’t seem long ago that we were at around 10-11p.

Will this get to a point where it’ll be cheaper to just generate your own with gasoil? Be amusing to work that out :p
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I did run through the figures a while ago :p . Standard 5kwh petrol generator running off LPG worked out to a fuel cost per KWh of ~£0.45 or so IIRC. Still a fair way off BUT considering standing charges/actual typical usage profiles etc, not as far as you'd think!
 
Haha, nice :) I guess you’d need to scale it up to one of the larger ~25kva (100A so comparable with a mains supply) diesel jobbies really. The type that the utility companies roll out whenever they do works.
 
theone8181 said:
I'm with outfox, but I've no idea how big of a company they are.
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I just left them to go with Octopus a month ago as they offered two years at current (for then) rates.

Glad I did because Outfox just sent me an email (obviously must still be on their automated system) saying their prices are going up again.

They were cheap when I joined them, but their prices doubled in eighteen months even before this latest increase.
 
We are in the same boat, our deal ends this month, and the price hike is shocking.
Going from £110/ month to £200 :eek:
Wish I'd locked in a deal a couple weeks ago when I last checked prices. :( They were £160, I thought that was a bit steep so decided to wait and shop around..... Now look at it :rolleyes:
 
I was with Bulb but they started taking the *** so switched to Green who were quite a bit cheaper, had a price hike already within a month and expect it's only going to get worse.

Just switched again to British Gas as they were fixed and the 'cheapest' I could find anywhere online :(
 
Jez said:
Terrible increases here too, just had notification that our unit rate will be rising from ~12.9p/unit to 16.4p.

The crazy thing is that I cannot find anything better either, just a company called neon reef also at 16.4p. It doesn’t seem long ago that we were at around 10-11p.

Will this get to a point where it’ll be cheaper to just generate your own with gasoil? Be amusing to work that out :p
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neon reef a good company so far been with them since feb :cool:
 
I'll be surprised if Green don't go under. Took them 4 months to register my electricity meter so I couldn't add my readings, they still haven't given my old company my opening readings after 6 months and every email just seems to be an assurance that everything's being done in the background.

They clearly don't have the staff or interest to sort issues and I'd actually be happy if they went under and I was able to get away from them early.
 
flea.rider said:
my boss had the same message .. seems that those that tried to undercut the big boys .. will die a death .. there will be a few that survive the bigger of the small ones that looked ahead ...
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Sounds like they didn't even attempt to understand how energy markets have worked for the past 50 years if they didn't hedge appropriately.
 
I was reading the news on BBC red button this morning and it looks like another four of the small energy providers are going to cease trading this week, see here. My current deal is coming to a end at the end of October and all I am seeing is massive price rises, gas at double the price or higher than what I am currently paying. Just in time for winter!!
 
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