Energy bill price cap predicted to go to £3850 - 3 x what it was a year ago

[cakeorwine]

There is an AIBU here - but really it's posting for traffic

Russia is having 'maintainance issues' so has reduced the gas flow to Europe to a low level.

Gas prices have soared again.

Price cap prediction - £3850 - about 3 x what it was a year ago.

This is going to affect all of us

www.theguardian.com/money/2022/jul/27/uk-energy-bills-forecast-to-hit-3850-pounds-russia-cuts-gas-supply-further-europe-pipeline

We already have cavity wall insulation, loft insulation, but we need new windows which we can't afford - we have old aluminium framed double glazing, and a number of the windows are blown - and our boiler is ancient and we have an immersion heater.

I'd like a new boiler but we also need a new roof. We have very little spare money at the end of the month now so we can't get a loan to pay for any of this, it would all have to come out of savings and the boiler and roof would wipe our savings out completely, so if anything else went wrong we'd be screwed.

We cut down usage last year - I used to have a shower every day, cut that down to every two to three days, we halved the amount of time we had the heating on last winter, and we hardly had it on an excessive amount anyway, and have always had the thermostat set to 18. I don't know what we'll do this winter, especially if DS (suspected ASD, waiting for assessment) school refusal continues as the heating was on when he was home, if he's home most of the time... He's also a picky eater so there's limits to cutting down on spending on food.

I am really concerned about it. We've cut down usage, we've switched to a water meter to try and save money there, bought a heated blanket, I have a hot water bottle, we've switched down with much of our food shopping, most was supermarket brands anyway. I feel like I'm running out of options.

I just found turning the thermostat down by a couple of degrees made me cold. I found it a huge difference.

@EilonwyWithRedGoldHair have you checked to see if you're entitled to any government assistance for the boiler?

We got some fantastic white tape stuff from B and Q for taping up drafty windows.

We have checked about the boiler and we're not. What we'd like is to have a combi and have it in the bathroom, but I think the work needed for that is going to bump up the cost. So we've been looking at just swapping out the old one and replacing it where it is under the counter in the kitchen, we got a quote online which was ok, but then we had the leak in the roof, and while it is fixed, it is basically a temporary fix as the roof needs replacing - which I knew was coming really as so many people around us have had theirs replaced in the last 5 years or so - house was built in 1963 and it's the original roof.

I have wondered if it were possible to tape over the aluminium frames on the windows, don't know how much it would help. They just suck the heat out.

This isn’t much help if your a larger family. But for singles, couples etc - look at a Dreamland heated throw. I spent most of last winter using this and maybe putting the heating on for one hour before going to bed.

Think I’ve said it on other threads, but for some it might be an idea to readjust Christmas expectations (for adults, I completely understand it’s different re what you do for children). A few years ago, me and my small family all agreed no Christmas presents - but we each got a heated throw for ourselves. Much better use of money rather than daft Xmas themed crap!

Already got my throws and looking at other ways to improve insulation in the home. I think I can reduce our usage by 25% but we will see.

Totally agree. Once it is down lowish, 2 degrees is a big difference for me as well.

Cold air does not help my lungs. Keeping warm obviously helps, but I need warm air too. I have to have that warm air from somewhere.

Thankfully we have made some adjustments ready for winter.
But I am sure I will be sitting nearer fires this winter, and may move bedroom furniture around so beds are nearer radiators etc.

I’ve just submitted a reading, my energy’s bill for January to end of July was £1000 so less than expected/what I have been paying but the increase only happened in April after the coldest months and we have been away for around 6 weeks in that time. We’ve also been very frugal with energy since the major price hikes. I think the timing may be lulling people into a false sense of security.

I suspect we'll be on our hands and knees a lot this winter peering at our smart meters

Where do you keep your smart meter? Just pick it up.

Although, to be fair, I do make mine face the wall in disgrace.

Nah, better to keep it down low. The extra exercise will help us keep warm

We’ve also been very frugal with energy since the major price hikes. I think the timing may be lulling people into a false sense of security

Yes - the price hike in April would have been with gas over the low demand months of Spring and Summer. If people pay as they go, or on payment meters, then the gas increase will have been higher compared to the summer before but winter is going to be something else. Much higher prices and much higher usage

I insulated under the floorboards. Did the whole space under house.
We have a crawl space. The roof had been done already.
Windows are double glazed now will buy a door curtain for front door.

A lot of people are reducing their usage now

www.theguardian.com/money/2022/aug/05/majority-of-britons-cutting-back-on-gas-and-electricity-amid-cost-of-living-crisis

"Just under half of those earning between £10,000 and £15,000 had specifically cut back on food, as had about half of renters. Those in the most deprived areas of England were also more likely to have reduced spending on food and essentials, the data showed."

And it's not even got to the new price cap yet

Now expected to go to 4200 in Jan 😲

www.bbc.co.uk/news/business-62475171

I have just calculated what a winter's monthly bill last year was if current charges were applied.
It was 103.50 for gas both standing and amount on average per winter month. The same standing and usage under current charges is 205 Pounds so quite a difference. Last winter we would be having heating on for approx 1.30 hours 3 times a day - morning , late afternoon and mid evening. We will be being more careful with that going forward. Our electricity is currently about 90 pounds a month so looking at nearly 300 a month going forward for 2 of us in a 3 bed well insulated house.

And that is only under current charges.

If the government weren't so rigorous in their fiscal discipline concerning 'handouts' to the public, am beginning to sense a hint of what work was like when interest rates spiked prior to the exit from the ERM and Soros made his billions. People were getting 'phoned by their spouses in tears then the government saw the way the winds were blowing and acted. Although this government will always act in the interests of its key stakeholders, I suspect enough of the larger corporates will be concerned about consumer sales and the recession to force some limited and ineffectual action.

Hope this might help some.

Thank you for that. My daily standing charge for electricity exceeds the price cap. I'm a bit confused, how does the price cap work?

Could be the 5% VAT on top? Or that your fix (if you’re on one, is higher.

The cap is regional. The cap you see published everywhere is an average.

It can go up as much as it likes if people can't pay they can't pay.

The fact remains that people will have to adapt in some way - whether that means cutting down on some things or eg using heating less. It might mean a smaller car instead of that big 4 x 4 on PCP. It might mean not as many holidays. Interest rates will go up too and that will also hit badly. Too many people think they have an automatic right to many of the luxuries which they see as necessities. People will need to prioritise.