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Original poster

Energy bills price increase

86 replies

fizzypop100 · 29/01/2022 15:08

Our fixed rate ends in April. How can I work out approx how much our new monthly direct debit will be ? It's currently £86 every month (some credit builds in the summer months).
Have e mailed Octopus but expecting a long ish wait for a reply

OP posts:
Gooders1105 · 29/01/2022 15:09

The email I received recently from Octopus indicated it will be an extra £60 per month

WaterBottle2 · 29/01/2022 15:10

Based on my own I would double it and if it's less than it's a bonus

Hugasauras · 29/01/2022 15:10

You can see their rates on the tariff page, so just work out your usage from bills and then apply the new tariff to those numbers.

April is when price cap goes up again, sadly, so it'll be even higher than those numbers.

Coulddowithanap · 29/01/2022 15:13

Log into the app, you should find the price of tarrifs on there.

Original poster
fizzypop100 · 29/01/2022 15:13

Double 🤯

OP posts:
Original poster
fizzypop100 · 29/01/2022 15:15

@Gooders1105

The email I received recently from Octopus indicated it will be an extra £60 per month
Was that the long email sent to everyone or a specific estimate for you?
OP posts:
dementedpixie · 29/01/2022 15:19

I got a specific email from octopus a couple of months before my fixed tariff ended. I will show the options offered. I have chosen to go onto the flexible standard variable rate tariff until I see what the price cap levels will change to in april

Energy bills price increase
CharbetHallmark · 29/01/2022 15:20

I'm with British Gas and mine is going to double in April.

Original poster
fizzypop100 · 29/01/2022 15:29

@CharbetHallmark sent you a PM

OP posts:
dementedpixie · 29/01/2022 15:33

Octopus will email you as they will show you the fixed rates on offer and also what their standard variable rate will be. They won't know the increase in the price cap just now as it hasn't been finalised yet

TheSnowyOwl · 29/01/2022 15:37

You can’t because prices are expected to go up in April by a large amount so that means the tariff prices currently available soon won’t be.

Tay17 · 29/01/2022 15:40

We’re EDF and fixed rate ends soon. The new fixed rates available are £100 more than what we are paying now! 🙈

whiteroseredrose · 29/01/2022 16:00

For those saying it had doubled, is that for gas, electricity or both, please?

dementedpixie · 29/01/2022 16:03

It depends if people are taking out new fixed rates as they are much more expensive than what the standard variable rate currently is. The advice was not to fix but don't know what current thinking is.

OnlyFoolsnMothers · 29/01/2022 16:05

I was told not to fix but have to say I’m now petrified come April

luckylavender · 29/01/2022 16:05

I thought we would know more later this week.

SafeMove · 29/01/2022 16:07

What is the rationale for these rises? I keep asking and all I have got from DBRO is that where they are buying their wholesale gas from is changing and is more expensive? I can't wrap my head round why it is doubling though? If anyone has a simplistic explanation please could you write it? I am a bit dim about tarrifs.

OnlyFoolsnMothers · 29/01/2022 16:10

@SafeMove

What is the rationale for these rises? I keep asking and all I have got from DBRO is that where they are buying their wholesale gas from is changing and is more expensive? I can't wrap my head round why it is doubling though? If anyone has a simplistic explanation please could you write it? I am a bit dim about tarrifs.
Basically supply and demand

This is an easy article to explain
www.google.co.uk/amp/s/www.bbc.co.uk/news/business-58090533.amp

OnlyFoolsnMothers · 29/01/2022 16:11

This is why the smaller companies went under they could no longer undercut and couldn’t survive under the U.K. cap and buying wholesale prices

dementedpixie · 29/01/2022 16:12

Apparently the price cap is decided on 7th Feb and then comes into place from 1st April

chloworm · 29/01/2022 16:12

My monthly payment has doubled.

BorgQueen · 29/01/2022 16:12

Gas prices have gone insane, risen higher and higher.
Big providers like BG were protected for a while because they buy huge amounts of gas many months in advance.
My tariff ends in June, I currently pay £70 for gas and elec, I will be surprised to pay less than £200 come June.

Hugasauras · 29/01/2022 16:13

Massively increased global wholesale prices. Basically a perfect storm of reasons: a cold winter in 20/21 that used a lot of stored gas supplies, increased demand from Asia due to a v hot summer meaning more gas was needed for air con, geopolitical issues to do with Russia meaning supply from there is down.

We are hit particularly hard because of our reliance on gas – a big percentage of homes in the UK are gas central heating, and we also don't have the capacity to store as much as some other European countries.

The price cap stops the full brunt of these rises being passed to the consumer, but it has meant that so many smaller energy companies have died because they can't afford the new wholesale costs.

AngelicInnocent · 29/01/2022 16:13

Because our home is also where our business is, we don't have a price cap. Ours are going up by 150% for gas and nearly 170% for electricity.

Original poster
fizzypop100 · 30/01/2022 14:52

Really concerned about this . There will be millions in a really bad situation when this hits

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