Energy Suppliers

[thenewoc]

Fixed ours for 2 years a few weeks back with Shell Energy. It was quite a jump from our last fixed deal with them and more than the variable option.

Now they should raise the cap on the variable option in line with the rise in wholesale prices so companies can raise their variable rates.

 

[Psycho Sonny]

I wonder if anyone on a good deal who doesn't have a smart meter will send high readings and pay more under current deal. Then when they switch under read until it evens out again.

Essentially paying current deals prices for another few months.

 

[Etheco]

Is anybody else with Look After My Bills?
I was expecting an email but the only thing I've got is British Gas supplying me from British Gas.
A quick Google shows nothing on their site about this, I wonder if it has put them out of business?

I got an email a few days ago informing me from Look After My Bills, and got email from British Gas this morning.

They are working on it far as the email says, and we will still be moved if they find a better deal, my deal was due to end start of next month anyway.

 

[Dirk Diggler]

We're fixed until Feb 2022 so hopefully this has all settled down by then and we get a better deal than if we locked in now. Surely locking in a deal now is a bad move?

For info, we're £139/month for a 4 bed detached house which has gas heating & hob and electric oven.

I've now got a power meter plugged into some appliances and assessing the cost.

 

[XeNoN89]

I'm due to renew in November and am not looking forward to the price rises;

 

[thenewoc]

That Ofgem price cap is surely going to have to be raised at the very least. It was intented to prevent rampant profiteering but a rise in line with wholesale rises is what is needed for suppliers to be able to honour existing fixed rate deals.

 

[Slade2]

This is mental, I said in another thread that I am currently paying 12.6p for electric and about 2.4p for gas. Those prices if I wanted to fix now will pretty much double. I am already paying £135 a month so having to pay £260 a month is going to be a massive issue for us. I think I am due to move on to the variable rate in October which is a little better than the fixed rate for the next 2 years I think I`ll ride it out for a few month on the variable and see what happens. I cant complain I managed to get almost free electric with bulb for about two years from referrals from people at work.

 

[StonedPenguin]

This is mental, I said in another thread that I am currently paying 12.6p for electric and about 2.4p for gas. Those prices if I wanted to fix now will pretty much double. I am already paying £135 a month so having to pay £260 a month is going to be a massive issue for us. I think I am due to move on to the variable rate in October which is a little better than the fixed rate for the next 2 years I think I`ll ride it out for a few month on the variable and see what happens. I cant complain I managed to get almost free electric with bulb for about two years from referrals from people at work.

Pretty much same here, currently paying 13p kwh elec and 2.1p for Gas.. deal ends in Nov if they don't go bust before then (Outfox market) and changes to 24p elec and 5.6p for gas..

 

[Trifid]

That Ofgem price cap is surely going to have to be raised at the very least. It was intented to prevent rampant profiteering but a rise in line with wholesale rises is what is needed for suppliers to be able to honour existing fixed rate deals.

To what end though? The cold could end up being a bigger killer this year then covid... I joked with my boss that I might return to work just for the heating.

 

[b0rn2sk8]

This is mental, I said in another thread that I am currently paying 12.6p for electric and about 2.4p for gas. Those prices if I wanted to fix now will pretty much double. I am already paying £135 a month so having to pay £260 a month is going to be a massive issue for us.

Cut your usage, £135/month at those prices is WAY above typical for a U.K. home. You’ve probably got quite a lot of opportunity to cut back if the money is actually an issue.

 

[Jonnycoupe]

He might have one of those special desk lamps

 

[Haggisman]

To what end though? The cold could end up being a bigger killer this year then covid... I joked with my boss that I might return to work just for the heating.

Sounds like I'm going to have to buy a load more GPUs for mining, so that the "heating" at least pays for itself

 

[thenewoc]

To what end though? The cold could end up being a bigger killer this year then covid... I joked with my boss that I might return to work just for the heating.

That's the risk in choosing not to fix.

 

[thenewoc]

Sounds like I'm going to have to buy a load more GPUs for mining, so that the "heating" at least pays for itself

A crash in mining viability is the only good thing that will come of this.

 

[Slade2]

Cut your usage, £135/month at those prices is WAY above typical for a U.K. home. You’ve probably got quite a lot of opportunity to cut back if the money is actually an issue.

Apart from leaving my PC on (its 10 years old and doesn't like being turn on and off) I really cant see where we can shave any usage potentially apart from using the washer and dryer a bit less. All of our household lighting is now LED. There are 5 of us in this house. I suppose swapping out the electric shower would help as we could run that off the boiler. I really don't see where we can save a lot but I suppose there is a decent incentive if its going to double fairly soon.

 

[krooton]

Apart from leaving my PC on (its 10 years old and doesn't like being turn on and off) I really cant see where we can shave any usage potentially apart from using the washer and dryer a bit less. All of our household lighting is now LED. There are 5 of us in this house. I suppose swapping out the electric shower would help as we could run that off the boiler. I really don't see where we can save a lot but I suppose there is a decent incentive if its going to double fairly soon.

My rates are pretty much twice yours, but my average monthly is like half yours!
That's 3 people and 5 cats.

 

[thenewoc]

We fixed ours a few weeks back before the cable fire between here and France occurred. It was still quite a jump though since we came to the end of our previous fixed deal.

We're now on this 2 year fixed deal with Shell Energy which appears to have now vanished from their offering, only to be replaced with either the variable option or a 38 month fix :

Electricity Units: 19.95p
Daily Standing Charge for Electric: 24.2p

Gas Units: 3.99p
Daily Standing Charge for Gas: 15.51p



For comparison, the 38 month fixed option pushes the prices to:

Electricity Units: 24.959p
Daily Standing Charge for Electric: 44.100p

Gas Units: 5.411p
Daily Standing Charge for Gas: 29.910p

 

[Trifid]

That's the risk in choosing not to fix.

For some, i.e. whose energy supplier goes bust, it isn't their choice.


I feel like I foolishly have faith that the government will soften the impact through some measure.

 

[Puzzled]

That's the risk in choosing not to fix.

Many would have fixed though but the sodding companies went under.

This just shows that there is no room in the energy market to be competitive without some dubious business practices. Should just nationalise the damn thing and put money into upgrading our energy infrastructure.

This winter is going to be very hard for a lot of people with rising costs for energy, fuel, food, goods and a cut in universal credit.

 

[thenewoc]

For some, i.e. whose energy supplier goes bust, it isn't their choice.


I feel like I foolishly have faith that the government will soften the impact through some measure.

Yes going for the cheapest provider is also a risk.