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.

@MaryAndGerryLivingInDerry

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.

We can’t all just go out an upgrade our appliances! I’ve just had to replace my washing machine after it started smoking. I’m a LP, been out of work since October, I have no savings, I’m living on credit that is swiftly running out because UC isn’t covering my already slimmed down living costs. I sat and cried when the machine broke. New machine had to go on a credit card that has a 49% apr. (Because yes I have a bad credit score and can’t get anything better) I won’t be able to pay if off in full before interest is applied and I’ve now got less credit available for essentials. Laying out money now to counteract a bill hike later just isn’t an option.

If you need to replace anything else go the citizens advice. They should have details of any free or low cost white goods schemes in your area.

@MaryAndGerryLivingInDerry

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.

We can’t all just go out an upgrade our appliances! I’ve just had to replace my washing machine after it started smoking. I’m a LP, been out of work since October, I have no savings, I’m living on credit that is swiftly running out because UC isn’t covering my already slimmed down living costs. I sat and cried when the machine broke. New machine had to go on a credit card that has a 49% apr. (Because yes I have a bad credit score and can’t get anything better) I won’t be able to pay if off in full before interest is applied and I’ve now got less credit available for essentials. Laying out money now to counteract a bill hike later just isn’t an option.

Also were you aware of budgeting advances? Not sure if you would qualify. They are internet free.

www.gov.uk/universal-credit/other-financial-support

Thanks givememykeys. I'm being offered a rate that is both reasonable in a ridiculous new world kind of way. I was just making sure I hadn't misunderstood the situation and I could actually put them off till March

@TooManyPJs thank you, I was aware of budgeting advances! Or that citizens advice could help with white goods.

Sorry, I wasnt aware.

[quote MaryAndGerryLivingInDerry]@TooManyPJs thank you, I was aware of budgeting advances! Or that citizens advice could help with white goods.[/quote]
No problem. Tbh I'd probably pop down to your local citizens advice anyway (or call them they should have a number on their website) to ask about current schemes as you are struggling.

At the moment the government has given local authorities money to give to vulnerable people and families this winter. It's being dished out in different ways in different areas but your local citizens advice should know what they are doing in your area and how to access it. It's called the Household Support Fund.

There are also usually winter fuel schemes running locally too which may be able to help with fuel top-ups, cash payments, blankets, warm clothes etc etc. What's available depends on what's available in your area. Again your local citizens advice should know.

I assume you already know about the warm home discount?

There may also be charitable grants you might be eligible for. There's all sorts out there, it's just what's available and how to access it!

Obviously that should have read that budgeting advances are interest free, not internet free!!!!

I am in NI and the warm home discount isn’t available here. We do have a warm home scheme which involves the house being inspected for any work that will improve insulation but as a private tenant my LL has to agree to the scheme, and pay 50% of all work costs which I know they won’t do. I’m off to google and see what else there might be though so thank you for the pointers.

Hello! Just popping by to say that we're doing a Q&A with fuel poverty charity National Energy Action about these energy price hikes on Wednesday 23rd Feb at 12 noon. The thread is now open for questions here.