To ask what you’re doing about energy prices?

[Nc4post99]

Our supplier went belly up so we’re on the variable tariff and the cost of fixing makes me balk, it’s so hideously expensive right now will have gone from £80 to £220 per month.

If you’re on a variable rate, what are you doing? Fixing now or waiting it out ? Martin Lewis’s advice isn’t particularly helpful atm, I think he’s in the wait and see camp, but surely it’s likely when the price cap lifts all the energy companies are going to raise their fixes even more, because they can?

I don’t know what to do

I'm staying on the variable rate as the fixed rates offered were higher than what the capped rates are going to go up to in April

My fixed rate tariff runs out in April. I am with Scottish Power. If I go for another fixed rate deal with them the cheapest deal is another £100 a month from £130 to £235.

I went on uSwitch to find a better deal but it said they didn't have any deals for me at the moment, so I presume I will be paying that amount whoever I'm with.

I shall wait and see what the variable rate will be in April.

What's your unit charge for electricity and gas atm?

We're staying variable and I know it's a gamble but the cheapest fix, Octopus loyalty, is about £300 pa more than the April 22 price cap for us.

Martin Lewis might be wrong, he's acknowledged that, but neither he, nor anyone else has a crystal ball and it's basically a coin toss as to which path is best and what's the right answer today isn't necessarily so tomorrow, next month or later in the year.

I was always on a variable rate. I concentrated on reducing my usage instead. So layering loft insulation, keeping more heat in the house.

Now I've stopped ironing most things, stopped leaving things on standby, use the oven less and the slow-cooker more, turned the heating down a degree or two, persuade teen to turn off lights.

Last quarter I managed to cut usage by 15% so my bill fell. It's getting harder to find things to cut back though.

We are fixed until June 2022 so I am just keeping my head firmly buried in the sand until the fix ends.

We were on a fixed tariff with Octopus that ends on 15/03, I waited to see the charges on the new variable rate to compare them to the Loyal Octopus fixed that they were offering.

The charge per kWh is slightly more for the new fix but the electricity standing charge is 20p less per day and I think prices will increase again in October so have hedged against that.

Ours will go from

Current fix - Electric 15.96p/kWh 21.11p/day
Gas - 2.67p/kWh 21p/day

To
Electric - 32.42p/kWh 23.76p/day
Gas - 8.77p/kWh 26.10p/day

We have also started being strict with energy which we have never done before so hopefully that will reduce our usage too.

Everyones in the same boat.. had an email yesterday from shell.. we will be paying 800quid PA more 😭😭

@BarbaraofSeville

We're staying variable and I know it's a gamble but the cheapest fix, Octopus loyalty, is about £300 pa more than the April 22 price cap for us.

Martin Lewis might be wrong, he's acknowledged that, but neither he, nor anyone else has a crystal ball and it's basically a coin toss as to which path is best and what's the right answer today isn't necessarily so tomorrow, next month or later in the year.

My fixed deal with Octopus ends in April, I have signed up for the Loyalty to start in April as I think it will get worse in October. The nice thing with Octopus is you can leave the deal without penalties so I just feel like we know the worst for the next 14 months.

With the situation in Ukraine I can't see fuel getting any cheaper.

As you say it is all a gamble, I'm also taking steps to cut down as much as I can, I'm getting quite good at judging just enough water in the kettle for two mugs of tea and the tumble dryer is getting cobwebs and I've set the central heating to go off an hour earlier and also reduced the time the boiler is on for hot water. Not sure what else to do.

@MrsPnut We seem to have the same strategy.

I have cut back on useage. I wfh and wear a thermal top and a jumper which means I can avoid using the heating. I do have an oil filled rad I can use to heat my office if needed but so far so good.

The heating settings come on and off for the kids! So before they get up until just before they leave for school. Then in the evenings just before they get in, set to go off just before bed. I have started saying they must wear a jumper in winter.

I don’t use a tumble dryer.

Does anyone know how much appliances on stand by cost? Will it make much difference? Also if I don’t turn off at the wall. I’m a nightmare for not turning my laptop off!

@dementedpixie

I'm staying on the variable rate as the fixed rates offered were higher than what the capped rates are going to go up to in April

That’s what confused me as well, higher right now than the price cap by a considerable margin. It’s so hard to know what to do

I fixed for 2 years in January with unit costs at 26.7p (elec) and 6.4p (gas) with standing charges at 26p each. So I'm paying heaps more than I need to now to save marginally on the rates in April but moreso if there are further charges in the tariff period. I'm not sure if that will work out in my favour or not yet but at least I don't need to worry about it getting worse any time soon.

@konasana I'm taking the same approach - we are fixed until November 2022 and I honestly don't know what we will do after that

We've been trying to reduce usage. Heating on for an hour in the morning and 2 hours when the kids come home.
Stopped using tumble dryer and electric fire. Shorter showers, turned underfloor Heating off in bathroom, just bits here and there but hoping it makes a difference

I don’t heat upstairs - we have thick duvets, blankets and hot water bottles.

I’m fastidious about shutting doors so just heat one room most of the time. Have just chosen not to put the washing machine on because it’s not full (10kg drum). Wouldn’t have thought twice about that previously.

Martin Lewis was telling everyone as far back as October / November to stay on SVT. That was terrible advice. I used to work for an energy company, and we had a name for people on SVT … mugs. I fixed until October 2024, ignoring his advice to stay on variable, and I’m so glad I did!

@FourTeaFallOut

I fixed for 2 years in January with unit costs at 26.7p (elec) and 6.4p (gas) with standing charges at 26p each. So I'm paying heaps more than I need to now to save marginally on the rates in April but moreso if there are further charges in the tariff period. I'm not sure if that will work out in my favour or not yet but at least I don't need to worry about it getting worse any time soon.

That's what I'm thinking, at least I know where I am until April 2023 and can budget for it.

Ironing only essentials (work shirts etc)
Tumble dryer not used generally. And only to "finish" dstiff that has taken 1-2 days to dry.
Heating off! We sit under blankets

Also we wear 100% wool. A “fluffy” jumper does not have the same ability to warm as an actual natural fibre - also avoid cotton blends because it’s code for Baltic. I wear silk scarfs because when my neck gets cold it’s game over.

@berksandbeyond

Martin Lewis was telling everyone as far back as October / November to stay on SVT. That was terrible advice. I used to work for an energy company, and we had a name for people on SVT … mugs. I fixed until October 2024, ignoring his advice to stay on variable, and I’m so glad I did!

In the past fixed rates were lower than SVR. That's not the case now and SVR are lower as they are covered by the price cap. This is the first time i have ever been on the SVR as fixed rates have always been cheaper before.

I'm concentrating on reducing usage.
I'll see how things are in April.

I've turned the heating off and I'm about to order an oil filled radiator to put on for a wee while before the children come home from school.
Everyone is in (fake) oodies and thick socks.
Using slow cooker more.

Still have to use the tumble drier, Can't see any way out of that until the weather improves.
Luckily we have a 14kg washing machine so that reduces the amount of washes per week.

I need to find more ways of reducing usage.

Yes but on a fixed tariff you wouldn’t be suddenly trying to find another £1000 a year @dementedpixie

Just checked. Not fixed as I thought. Standard variable. Great

@berksandbeyond

Yes but on a fixed tariff you wouldn’t be suddenly trying to find another £1000 a year *@dementedpixie*

No, I'd have to find much more as my fixed rate just ended and the fixed tariffs offered are stupidly high and much higher than the price cap levels