To be really really worried about energy prices

[Letshaveablackcelebration]

Sorry, this isn’t very Christmassy but it’s been in the news a lot the last few days. I don’t think I had really grasped until the last week how serious the energy price hike is going to potentially be. At the moment we are on some super saver deal with Scottish power that I got through Martin Lewis so we pay around £100 all in for gas and electric. the cheapest I have found so far in comparison is £240 - it’s really horrific and partly because there are very few deals about.

Aibu to be really very concerned about the coming price rises- and the Inflationary pressures that will go with it. It’s a proper shitstorm and likely to bring 50% rises in bills.

@Lex345

Me too. Im with So energy and our fixed price runs out in Feb. The best deal I could get with anyone to fix was with them and its £100 a month more than previously. Im worried.

Don't fix. Go onto the standard variable rate as its covered by the price cap until its reviewed in april

YANBU

Energy prices are so high that companies aren't even breaking even, due to the price cap.

The cap will be lifted next year to be inline with how much energy actually costs. Things could get difficult at this point (obviously they are already difficult)

Energy it getting so expensive because of nat gas prices. UK has gotten rid of coal replacing it with wind. Wind has not been blowing. Nat gas prices are the highest ever. Almost 1000% higher than last year. Russia is largerly at fault but UK has shot itself with the green energy transition strategy (or lack of it).
We need reliable energy supply. Some gas storage would be good too (UK has gotten rid and has lowest capacity in Europe)
We need nuclear.

YANBU but things will improve somehow in spring.

Total agreement. They want it done for free, errr who works or provides anything in the world for free? absolutely no one

Should have fitted solar panels on every building as standard yrs ago but nope,, too little too late as usual

We were talking to friends in Norway the other day. They mentioned how electricity prices have spiralled out of control there. The example they gave is that it now costs the equivalent of £5 to have a 10 minute shower. There's 4 of them in the house - including 2 females with long hair - so 2 minute showers not really an option. Just thinking about the weekly cost of staying clean without all the other electrical usage is astounding - and they've got electric cars.
I don't think YAB at all U to think about rising energy costs OP.

@ivykaty44

There is a big difference between how much electric and gas you actually use and what a company is going to generically set your direct debit

Utility companies want your money to use, as it helps them

I use £30 of electric and gas per week during the winter. But I only use £13 per week through 6 months during summer. That’s actual usage not estimate

That equals out to £93 per month

But when I look to change, the companies base it on a 4 bed house generically and want to set my direct debit at £240

Even if my usage stayed the same and the price doubled it wouldn’t be £240 but £186

Look at your actual figures of gas and electric you’re using, check your smart meter weekly or take meter reading weekly same day and time

Then input to utility company weekly, see how much gas and electric you actually use

Obviously cold snaps will make differences each year but generally it will be the same

My other top tip is draft proof every single door in the house. Drafts will make you set thermostat higher and draftproofing will enable you to lower thermostat and save gas

This is a very good point.

The direct debit they want to put you on doesn’t necessarily equate to the energy you actually use.

When the sales person tried to fix me to a £240 a month direct debit I was blunt and said “no way I can’t afford that, I will just have to switch my heating off and wear more layers”

She begrudgingly admitted that it was the dd cost and not “what I’d use”

You can negotiate a dd amount, it’s not set in stone - as far as I’m aware.

Sorry this doesn’t actually solve the energy prices - which I agree are really scary - but it might help manage your monthly costs.
They will want your money to invest in their own growth and plans as a company, if you’re paying 240 a month but your usage actually only amounts to 180 - they’ve got 60£ of your money to invest!

if you think it's bad now, wait until things kick off in the Ukraine when Russia invades.

You can just pay for what you use. Utility companies are obliged to let you do this. Makes it a bit harder to budget, as your bills will be higher in winter than in summer.

You can view gridwatch and see where the power comes from. When it's not windy it's a real concern.
We should have been building nuclear power plants thirty years ago.
Gas supply is potentially precarious too. The gas futures are scary.
Next year I suspect is going to be hugely expensive.
Insulation is hard work beyond the basics but is needed to be improved everywhere.

I am surprised the government hasn't upped the minimum EPC for rental houses yet.
When will Rightmove start allowing searching by EPC?

i am now so far behind with my energy that i dont think ill ever catch up. all in all my bills come to £300+ a month and thats without a car to pay for which i cant afford so dont bother.

Energy is £160 minimum, water rates £40 council tax £70 internet £30 phone £10

at the moment if i want to pay every one of my bills then it comes out of food money

@Ifailed

if you think it's bad now, wait until things kick off in the Ukraine when Russia invades.

I know, worrying isn't it.

Yeah, it is a hike and a half. We are ok with our gas usage but our electricity bill is through the roof. We are on an old fixed rate until March and I am trying to install better habits in the house between now and then but it's an uphill battle that leaves me thinking it'll be easier to close my eyes and pay the ridiculous bills that are coming but, obviously, it's not that simple for people this will knock into financial difficulties.

I urge everyone to please be patient while we are experiencing these bumps in the road to the sunlit uplands of the post-Bexit high-wage, high-value economy. Just keep voting Tory, put your trust in the government who got us into this, and direct your rage towards the likes of Insulate Britain and Greta Thunberg, never forget they are the real evil ones in all this.

Genuine sympathies for those in financial difficulties.

I'm worried too. Increase in every bill for us right now alongside the increasing cost of food and energy prices. We are also in a very precarious situation financially and to afford all our bills every month we are left with very little for food. It's scary.

My electric has increased 10r a week. It might not seem a lot in the grand scheme of things but for a family of 7, that 40 a month could go on nappies, school uniform top ups etc.

Energy prices where I live have been excessive for years, that and trying to be more sustainable is why we went solar, it’s not just a uK thing. We’ve got full solar power and we are going to buy a battery in the next year or two to store energy overnight. Prob about one in 5 houses in our area have solar but not many have a battery.

It's going up again next year, apparently according to the news by another 50%. so tie it in, for as long as you can. Will be pushing millions into fuel poverty.

It's everything. We thought we were doing OK. But food has gone up, utilities gone up, council tax is going to go up and we both work 40 or so minutes from home, so petrol is insane.

It sounds childish, but I just want to stamp my feet and say:"it's so unfair". We did the hard years of 2 kids in nursery etc. It was meant to get easier as they got older.

@Thickasmincepie

It's everything. We thought we were doing OK. But food has gone up, utilities gone up, council tax is going to go up and we both work 40 or so minutes from home, so petrol is insane.

It sounds childish, but I just want to stamp my feet and say:"it's so unfair". We did the hard years of 2 kids in nursery etc. It was meant to get easier as they got older.

Food is going to go up as long as petrol and gas continue to go up.

Don't forget the NI increase in April too.

It's all essential spend, no avoiding it.

YANBU. We had our heating on most of the day yesterday as a 'treat' for Christmas. That's a bit sad, isn't it?

We are definitely going to be cold. Disabled partner, on benefits, pre payment meters too.
I have absolutely no idea how we are going to survive next year. The only thing we cant get rid of for another 6 months is virgin because we still got 6 months on our contract. Stupid thing is it's not like you can really use less, you need to be warm and clean.

I’m going to have a long hard look at our finances in the next week to see what we can make cheaper - we are paying off debt and I wanted to focus on clearing that ASAP but this energy rise will put pay to that. It’s so worrying!

When you look to change supplier don’t look for who will quote you the lowest per month.
Look at the unit price and also the daily standing charge ( for both gas and electricity ) You need the combination of these two to be the lowest possible. It’ll take you a good couple of hours to find the balance that makes the best deal.
Although paying by DD monthly is the most popular option it benefits the energy companies. As long as you can budget ( and have the resources to pay more in winter) you can opt to pay each bill as it comes.

For anyone in rented accommodation look at the EPC. You can view it online although your landlord is bound by law to provide one at the start of your tenancy ( can be by email or on paper) EPC has to be certain level for rented properties (I.e not the lowest )
Your landlord also has to provide an electrical safety certificate. If you have old storage heaters it’s possible they do not conform to modern testing standards. Again, landlords have to provide tenants with an electrical safety certificate.
There are grants to replace outdated heating systems which landlords can access. There are landlords associations online that you can search for info.
You can also contact your local council about additional insulation.

It's the food price hikes due in January that concern me more.