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

fuel and food prices have gone up globally. You might like to blame the government for everything but unfortunately it is a global problem with no easy fix.

My unit rate in my studio flat is far, far higher than my DMs in her large 3 bed house. I have tried to switch since I moved in 4 years ago but the majority of companies/tariffs require you to have a smart meter. Fine by me except they all say they can't install one here. Every time I've looked to switch the two options available are more expensive.

I only use 3-5 units a day but I cant get it any lower, and the standing charge is a killer.

@Itisasecret

coukd you take a screen shot if your predictions please?

That is unbelievable!!!! How are you going to be able to
afford that?

Easy.

Average usage for an average family is about 2k. Our bill is higher as we are in a 5 bed detached and there are 6 of us. We pay £180 at the moment which is only about £20 ish over the average.

My personal outlook for our house is nearly 10k.

Our electricity is £177 per month. The new fixed rate we have been offered is around £450 per month. Crazy!!

Bunsy are you going with it and fixing it at that?

If that was an interest rate rise on a mortgage, then there would be Government panic.

They worry when interest rates go up as mortgages become expensive for people and they might default and have less money to spend.

The energy companies are pretty quiet. I’d like to see them offering something to the consumer and taking a hit on their profits for the greater good rather than just sitting back and letting the government sort it out.

Germany and I would imagine the rest of Europe are in a similar position.

amp.dw.com/en/germany-business-confidence-plummets-as-economy-on-cusp-of-recession/a-62582865

Outoutoutshout presumably you're still on a fixed rate from before the increase and not on the new rates then.

@MarshaBradyo No! If we go onto the default non-fixed rate it’s £220 per month. Whilst I appreciate that prices will go up again we are taking the risk and praying for intervention, Government or otherwise! If anyone wants to take Putin out I will gladly slip them a few hundred quid 😊

There is no way you'll get to 10k unless you are incredibly, incredibly wasteful with literally everything you do. 10k. No chance. 😂

Considering we haven’t been hit by the price cap issues yet as we are on a fix. Then yes it’s possible. People with our usage are getting fixed of £500+ now that’s without October and Jan’s rises.

We are fcked. I worry about what the future holds for my children and if things carry on as they are I will be encouraging them to emigrate to another country

This isn't all U.K. specific. Brexit has made things worse for us but other countries are struggling too.

It’s an interesting article and I’d agree with a lot of it, but I don’t see anything in it that demonstrates the U.K. is the worst performing economy except Russia or will be in future. I mean lots depends on the time period considered, how you measure economic performance, what region of the world (or all of it) you’re talking about…. But I don’t see any of that. It’s just scenarios and description. Am I missing something?

Not disagreeing we’re in for significant economic problems. But even allowing for Brexit I don’t think we’re alone in Europe in that.

True

It's a very depressing state of affairs at the moment.

I just don't hear much talk about it. It's like many people aren't bothered. You ask them about their energy and they don't even know if they are on a fix or not. I obsess about it and understand my usage, what devices are using it and how I can reduce my usage by making sensible choices.

I’m filling up our pre payment meter each month to get a surplus going into winter

Havent bought heating oil since Putin lost his marbles. I chuck £20 worth of diesel in the oil tank so we can wash up and clean hands and faces. No baths anymore. Shower only and timed to 3 mins.

You’re very good at throwing stupid comments back but strangely unwilling to prove your ridiculous claims, which are only serving to frighten vulnerable people half to death.
if you are genuine, then as a PP has asked, please screen shot your new estimate from Octopus.

We’re not the best but we’re not the worst either…and that’s just Europe. It’s a problem
across the World.

Inflation across Europe

We are fcked. I worry about what the future holds for my children and if things carry on as they are I will be encouraging them to emigrate to another country

There aren’t many places that would be free from this

If Germany struggle it impacts that region and so on

Bunsy me too re Putin, it’s awful how much damage is being inflicted worldwide, Ukraine worst. I really don’t know what to do about our rate fix or not

My parents and I were talking about this today, we live close by and think in the winter we will largely hunker down at there's and I'll contribute towards the food costs so that they can cook dinner there as its easier and a lot cheaper to cook for 5 (instead of 2 at my house and 3 at there's). Fortunately my brother works for a major supermarket so we get 10% Family discount which is buffering some of the price rises at the minute

This reminded me of this video of Dylan Moran, it’s old now but still funny. It’s 5 minutes in, the bit I’m talking about:

m.youtube.com/watch?v=6kvDOB2ZsF4

Why would I screen shot anything? For the people who find it absolutely impossible to read. I live in a 5 bed detached (6 people). I live in a large house. Paying £180 in the summer and not hit by any price rises the prediction for my house is going to be nearly 10k. It’s really not that hard to work it out.

Some one else on here has said they are expecting bills of 6k in Oct. Why are you not being horrible to them? Demanding screenshots off them?

if you can’t apply critical thinking without calling names; that’s not my problem.