To think they are lying? ... electricity prices won't be going up by 50% in April ...

[Shouldbeworkingnotreadingtalk]

Keep reading that electricity prices are going to sky rocket by "upto 50%"... so I worked mine out whilst doing some house admin . . I'm shocked at the actual figures ...

We currently pay 21p per KWh of energy used. (Viable rate.) . Predictions once the price cap ends are for unit prices in April is anywhere between 40-48p per unit. . (From googling / Martin Lewis ), I could be reading this wrong ...

Or

I can fix a rate today with my current supply eon for 38p.

Is this maths right? (Well, I know it is!)

Say hypothetically we use a slightly higher than average 9,000 unit a year:

21p x 9000 = £1,890 (£157pm)
48p x 9000= £4,320 (£360pm)

Doesn't include standing charge or vat on those prices either!

That feels like a crazy hike, more like 120% increase (?) - so why aren't we being warned a bit more .... We are a ridiculously heavy user, (big house, tumble drier happy, old inefficient freezers in garage etc, no gas so everything electric,,) so this week I've condensed some freezer space, losing a big old girl that leaked ice, and ordered x2 airers for the washing.....
I'm still looking at many other ways to lower my kilowatt useage - (I've warned the fish their pond pump may have to go on timer ... ).

But my AIBU is that I'm miffed at 50%, surely it's much, much more and we are in for a huge shock?
VERY HAPPY (relieved) to be told I've got it wrong and IABU.

One thing you can do is write to your MP. Martin Lewis is currently lobbying government to do something about the increases, so letters from constituents will keep it in the minds of MPs.

We know that the price cap is increasing about 50% in April. Unless the system as to how this is set is changed, this will happen. Who knows after that?

@Isthatthebestyoucando

It’s only cheaper overnight if you choose the tariff that gives you a day and night rate. Like Economy seven.

And the daytime rates are exorbitant.

But in April time peoples gas/electric usage comes back down anyway so that will help suppress the shock.

I'm really worried about it as I live alone so everything needs to be covered by one income. And there is never any help for people like me because I don't qualify for benefits and am not a pensioner obviously so no warm homes grants.

Have already made changes to how I cook - using the oven will be a luxury now. Heating is already off most of the day and turned up to 18C for a few hours in the evening.

Not really. If they are only paying for their usage they just won't be building up the usual surplus reserves for winter. That will really be a shock.

We really need to get to grips with our consumption, but with two people working from home all the time our usage has shot up since lockdown.

We don't have a sex pond but I'm trying to be smart with the oven - for eg, I made wedges last night and roasted a tray of veg for dinner tonight. But I've also got things like a heated airier which I got because the room we used to dry laundry in now has to be an office and I just can't have washing out for days drying. I know it's more economical than a tumble dryer, but it's still burning power.

@Stellaris22

It is correct that there's going to be a huge jump. DH works in the energy industry and it's been known for a long time, it's awful that people aren't being warned by government or media as they've known about it.

It's has been all over the media for months. Our dual fuel has doubled. Cannot get cheaper. I changed it from £199 to £170 , they say I'll be in arrears by the end of the year though.

@YourenutsmiLord

You are paying a lot for electricity as it pays for windfarms - who do you think is paying for those if not the public? Generous chinese and danish companies are donating them?

Not true. The current spike in energy prices is caused by our reliance on gas for rgenerating electricity; wholesale gas has risen by 400% in Europe in the lass year due to growing demand in Asia and supply constraints from Russia.

We need more renewable energy, generated here, to reduce overall prices, rather than relying on expensive imports.

I wouldn’t even get excited at the “poorest” getting “all the help” I get warm home discount it works out as £2.69 a week over the year. Given benefits are at extremely low levels and bills and food rising it does not go far. It goes no where near covering increase in what daily standing charges will be never mind going as far as putting heating on. Yes it’s better than nothing but seriously we not all sitting here with heating on in our shorts and t shirts.

@YourenutsmiLord

You are paying a lot for electricity as it pays for windfarms - who do you think is paying for those if not the public? Generous chinese and danish companies are donating them?

It’s important to understand that the current huge increase is not because of wind farms and other renewable energy. It’s actually to do with the price of gas. A sizeable proportion of our electricity comes from gas-fired power stations. Global gas prices have sky rocketed because of global demand - which has meant we are paying more not just for gas but also electricity.

I currently pay £168 for dual fuel - I checked with my supplier as I'm on a variable tariff and the only option to fix out my bills up to £462. That is a huge hike and frankly it would be impossible to pay - there is no way we would be able to afford to heat / cook / light the house. But I can bet my bottom dollar that we won't qualify for any help so I have no idea what we will do.

There is only so much cutting back and using savings you can do before the money runs out ....

Greta has doubled our energy rates and we have nothing to show for it. We pay double for nothing.

Living up to your name @propagandalf ?

Our energy prices have risen due to imported gas prices. If we had followed the advice of Greta and the like we would be paying less - solar and onshore wind are now cheaper than any other form of electricity generation.

Above all though, the government should not have removed incentives for energy efficiency at home.

I'm another one dreading this. I'm disabled and receive £520 a month ESA. Nothing else. I live alone. I've not put the heating on for weeks now and rarely turn on a light even though they are all LEDs. I stay in bed most of the day because it's the only warm place, shower every third day and rely on a local church for out of date vegetables once a week. I won't cope with a price hike and can't cut back on anything else.

A reminder to ensure you claim your £6 a week wfh allowance from the government, either by changing your tax code or doing a self cert. £312 quid a year- not a huge help but something to put towards the surge of prices

For those wanting advice about saving electricity: switch all your lighting to LEDs, if you haven't done so already. It's a small upfront cost but it will pay for itself very quickly.

If you have a fridge/freezer that is over 10 years old, buy a new energy efficient model. The fridge uses more electricity than any other appliance in your home and new models are much, much more efficient.

Here in the USA I just got a notice today that my fixed rate plan will be going up 21% next month.

Good advice @Tulipomania

There is not much people can realistically do to reduce their heating costs (other than turning down the heating obviously) but it’s easy to reduce electricity use.

That's ridiculous zaffa Who would take that deal? I wonder if it's like like when an internet seller only has one item left in stock and holds the page by offering their hand knitted socks for tens of thousands?

The prices might be going up - but I will be turning the heating off if we have a half decent spring, and we obviously don't use as much electricity as I can put the clothes on the line and use less artificial light. Quite often don't need the heating on much at all between April and October.

We're going to be screwed. Our bill has already increased to £220 a month which is really stretching us. DS is disabled and all his equipment uses electricity. Electric wheelchair, profiling bed, track hoists, rise and fall bath, functions on his toilet. We also need to keep the house pretty warm all the time as he finds it really hard to stay warm.

We're a one wage family as it's more or less impossible for me to work due to his care needs around DH's shifts and yet DH's wage just about puts us over the threshold for warm home discounts.

@Notcontent

Good advice *@Tulipomania*

There is not much people can realistically do to reduce their heating costs (other than turning down the heating obviously) but it’s easy to reduce electricity use.

Not that easy to reduce electricity cost given how many gadgets need charging- especially wfh now

Also I think the government will have to step in - it will still be taxpayers' money but there will have to be some kind of price caps or subsidies as people cannot afford it.

Up to, I think ks the key. It won’t necessarily be that much for everyone.

I’ve fixed mine back at the end of last year. It’s gone up by a very big jump but it won’t go up again in April.

Not that easy to reduce electricity cost given how many gadgets need charging- especially wfh now

But most phones/IT will use hardly anything in comparison to electric showers, heating, kettles, ovens, washing machines, fridge freezers, lighting, tumble dryers etc. That's where people need to check and reduce their usage where possible.

Martin Lewis did a big segment about this on his Thursday night ITV show. I'd recommend watching this on catch up if you can.