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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

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Original poster

My energy bill increased 200% in 3 months.

32 replies

Sleepdeprived42long · 10/03/2022 08:08

I’m trying to budget ahead for the proposed energy price increases. We were on a fixed rate which ended in January and I moved onto standard rate. We were paying £115pm pre Feb and had no large debit on account at end Jan. My supplier then increased the direct debit to £227pm for Feb and March but have said prices will increase at 1 April. I understand the price cap will raise prices by around 50% which will take my direct debit up to around £340. That’s 3 times what I was paying in January! I knew prices were going up but 200% seems completely mad! And goodness knows how much further it’ll go up in October!

Anyone else seeing their bills going up by this much or have we just been unlucky (or lucky to have had a good fix until January!)?

OP posts:

AlmostAJillSandwich · 10/03/2022 08:10

It's not just you, gone from £250 per quarter electricity, to £220 a month. No idea what it will go up to April onwards.

Pumpfive · 10/03/2022 08:12

I think it's the same for everyone. It's terrifying. I don't know how we are all going to manage

Original poster

Sleepdeprived42long · 10/03/2022 08:25

@AlmostAJillSandwich that’s what ours has went up to now (£227pm) and adding 50% to that is around £340!

@Pumpfive I think maybe a lot of people who have been on a fix which ended recently don’t realise that their prices are going to go up so much. I mean, I knew it would go up but I (naively) thought it would be up 50%ish from the fix. But it’s actually 50% from the standard (but the standard was almost double the fix!).

OP posts:

Summersdreaming · 10/03/2022 08:28

We are moving in a few weeks, the suggested dd for the new house is £310pm!! I'm not setting up a dd I'll just pay monthly based on the meter readings until things calm down (hopefully).

Original poster

Sleepdeprived42long · 10/03/2022 09:04

@Summersdreaming my energy company seems to have automatically kept me on a direct debit. I’m going to submit meter readings more often though so it’s more accurate!

OP posts:

BarbaraofSeville · 10/03/2022 09:10

You need to look at your unit rates and standing charge to determine the percentage increase. Surprised as to how this seems to be news to so many people.

Not a particular dig at you OP, but there's been endless threads in the last few days/weeks from people who appear to be completely unaware that their monthly DD is only an estimate of their utility bill, and often quite a bad one.

But yes, if you were on a fixed rate set around a year ago, the compounded effect of the increases in April and October 2021 and April 22, which is what your energy company will be looking at, will be in the region of 200%, or likely considerably more.

Scottishflower65 · 10/03/2022 09:25

Mine has gone from 4K per annum to 7K.

KevinTurvysGravy · 10/03/2022 09:27

It’s insane

doingitforyorkshire · 10/03/2022 09:31

My fixed is running out the end of May, I have had to adjust our budget now so I can afford the future prices. I have looked at what it will be, it will jump from £100pm to about £450pm, that's based on current prices too.
I just hope others have prepared themselves as much as they can.

GeneLovesJezebel · 10/03/2022 09:33

Mine has gone up by £100 per month. To fix was financial suicide , so we’re going into the fixed variable rate.

crossstitchingnana · 10/03/2022 10:06

@doingitforyorkshire

My fixed is running out the end of May, I have had to adjust our budget now so I can afford the future prices. I have looked at what it will be, it will jump from £100pm to about £450pm, that's based on current prices too. I just hope others have prepared themselves as much as they can.

I don't understand how your bill is jumping like that. I have seen many other posters saying similar. Mine is going from £124 to £210 and I am coming out of a fixed tariff in April. How come my jump is so low in comparison to others? I consider myself lucky but something weird is going on!!

onemouseplace · 10/03/2022 10:09

Mine is similar - I was paying £120 and I've just fixed for £240 on a slightly higher than April Price Cap tariff - I expect to actually spend less though as this is based on the previous year's consumption which was higher than normal because of lockdown.

dementedpixie · 10/03/2022 10:12

@doingitforyorkshire

My fixed is running out the end of May, I have had to adjust our budget now so I can afford the future prices. I have looked at what it will be, it will jump from £100pm to about £450pm, that's based on current prices too. I just hope others have prepared themselves as much as they can.

Are you sure of your figures? Are you going onto the standard variable rate as the price per kWh is capped on that rate whereas the fixed rates aren't limited to the price cap?

I did meter readings yesterday and have used £100 of electric and £70 gas in the last month - on the current standard variable rate. As we come into summer the gas usage will drop so hopefully won't pay as much for that

GeneLovesJezebel · 10/03/2022 11:02

The standard variable rate is far, far cheaper than fixing for me .

BarbaraofSeville · 10/03/2022 11:24

It probably is for everyone Jezebel

At some point a few weeks ago, some suppliers were offering fixes at or slightly above the April 22 rates, but they've long gone now and are replaced by fixes more like 50-100% above that rate .

As for whether it is possible to have gone from £100 to £450 pm, it could well be, if you were coming off a historical cheap fix and are looking at one of the most expensive new fixes. People are talking about paying around 3-4 p per unit for gas and 13 p for electricity, but now the most expensive fixes are around 3-4 times that amount, with a much higher standing charge. It's like nothing at all we've seen in many years in price increases.

JungleBungles · 10/03/2022 11:35

I’m a bit baffled on how I’m supposed to prepare for it 🤷‍♀️

I’ve been following the news etc and now know what my new price will be roughly but I’m not sure how you can get blood from a stone or how I can find an extra £200 a month on top of what I already pay when I already live pay day to pay and have zero extra money….

I’ve stripped right back on everything…there is still no more money after the NI hike

BarbaraofSeville · 10/03/2022 11:43

While some people don't have the spare money to prepare for price hikes, many do.

It's like at the beginning of the pandemic when lots of higher earners were furloughed and then couldn't meet their basic expenses because furlough money was a max of £2500 so their income went down but they had no savings but big car payments, mobile phone contracts, pay TV etc.

Those are the sorts of people who should be looking to prepare for higher utility bills by saving some of their spare money each month, rather than spending it all.

cakeorwine · 10/03/2022 11:48

You need to know your usage in KWH.

It sounds like you were on a cheap fix - so you were getting power at a very good rate.

I was on a very good rate, but my company collapsed. Now I am on the price cap which will then change in April. And then in October.

It's all to do with knowing your actual usage in KWH

cakeorwine · 10/03/2022 11:50

@JungleBungles

I’m a bit baffled on how I’m supposed to prepare for it 🤷‍♀️

I’ve stripped right back on everything…there is still no more money after the NI hike

Do you know what devices you use that use a lot of energy?

Things like electric showers are notorious and you can reduce significantly a bill by reducing the length of a shower.

A power meter that plugs into a socket can tell you which devices use a lot of power - either over a day or when used for a reasonable amount of time.

It is going to be hard though - but some changes can make a significant impact on power usage

dementedpixie · 10/03/2022 11:53

I agree you need to know your usage in kWh and then work out how much it costs using the standard variable rate tariff. I have had my new April costs sent to me and will show them below. You can get a rough idea of cost if you use the figures along with your kWh usage

My energy bill increased 200% in 3 months.

dementedpixie · 10/03/2022 11:54

And don't go by the direct debit amount as that doesn't always reflect monthly usage

cakeorwine · 10/03/2022 12:05

There is a thread here with some advice

www.mumsnet.com/Talk/_chat/4471775-Confused-about-the-price-cap-and-energy-consumption-Heres-the-thread-for-the-physics-and-the-maths-to-help-you

Original poster

Sleepdeprived42long · 10/03/2022 13:17

@dementedpixie that’s interesting you’ve had that, I’ve not had anything from my energy provider.

I’m definitely hoping I don’t use as much as my direct debit amount will be but on the basis that it makes sense to pay more in summer so as not to get a shock in winter, I think I’ll go with the recommended amount!

OP posts:

Original poster

Sleepdeprived42long · 10/03/2022 13:21

@BarbaraofSeville this impacts everyone though not just high earners. A lot of people just don’t have the luxury of being able to absorb a 3x increase in bills regardless of what they earn. I’m also really not sure most people are aware of quite how much their bills will increase (aside from knowing they will increase).

OP posts:

BorgQueen · 10/03/2022 13:50

Only time will tell whether the ones fixing now at seemingly insane rates are being clever or stupid : it’s a total gamble. They will either be sitting pretty come October or be furious.
I’m on a low fixed rate with BG until June and they won’t even quote me a new fixed rate, although they have ‘helpfully’ upped my DD from £70 to £127 🙄 Even though I’m still £100 in credit after yesterday’s bill. They only bill every six months so I’ve been working out my own monthly useage, the app is Useless, it’s a fortnight behind on electric use and has never shown gas.
I’ve worked out that the new price cap will cost me £140 a month, including standing charges. If, come June I can fix for at least a year on less than £200, I’ll probably do it.

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