Just had an offer from Octopus

[quicklybeendrivenmad]

Octopus energy
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Your current tariff
Flexible Octopus
Unit rates
Electricity: 27.35p per kWh
Gas: 7.28p per kWh
Standing charges
Electricity: 48.26p per day
Gas: 27.22p per day
Your new tariff options
Octopus 12M Fixed
£989.12
monthly estimate
Loyal Octopus 12M Fixed
Most popular
£945.53
monthly estimate
This tariff features 100% renewable electricity and fixes your unit rates and standing charge for 12 months. There are no exit fees, so if you change your mind, you're in control.
Your new quote
£11,869.50

God knows where these figures have come from, last months gas was £19 and Electric £180!! Who the hell would sign up to £989 per month at nearly £12k a year. Love how they say Loyal Octopus "Most popular" popular to who? Think they mean them.

I’m actually laughing that they can give people these quotes and expect people to take them seriously!

Interesting question on Sky News linking support for Ukraine and the cost of energy prices

twitter.com/skynews/status/1561994181337309184?s=21&t=72WunIQ87xkdnLGgSYHKAw

This is mine from Scottish Power.

Nearly 10 grand a year. Tempting but no.

I heard on the radio earlier that one of the energy bosses had an idea. The UK government can’t control global energy prices. But they can basically get a long term loan and give the energy companies money, to subsidise people high bills. The loan would be long term, such as 20 years.

Surely that’s the best option? The energy companies borrow money off the government over a long period of time and obviously the energy companies recoup the costs from customers, over that long period.

Or go with the option of bankrupting the country and 70 per cent of the population going into poverty. Meaning people won’t be able to go to pubs , restaurants, gyms etc ex.The job losses would be far bigger than covid would have been.

I took this fix in March which I think was a fairly good deal. I was paying £180 a month (which I thought was steep) and now paying £338 but will save a bit by being extra careful. The fixes I’m seeing now are much more expensive but this is more than 20% of our entire monthly income. If it goes up again after this I’m scuppered. There is no more money.

These are the tariffs on my most recent bill, readings taken last week, they are really low compared to what others are posting. My previous bill to this stated that they were fixed until 30 September 2023

Is it not capped at 3k!?

That looks like a variable tariff. The price promise was a tracker tariff that tracks the price cap rate.

@Sporty2022
Yes utilities someone boss said a social tariff was needed.

This loan sounds like a better idea.

This will be way way worse than COVID.
No money will be flowing anywhere otherwise!

Yes, it's fixed duration but not rate as it's a tracker, so will go up when price cap does.

'It’s a variable tariff that tracks the Ofgem price cap (the maximum rates a supplier can charge on its default tariffs) until September 2023. As well as including 100% renewable electricity, any gas you use is carbon offset.
Prices are updated in October and April'

£3k is for average usage.

Mine is already over that, despite a fix, because our usage is so high.

If thousands of households are unable to pay their bills what will the energy companies do ? Will everyone be disconnected? Would they be allowed to do this??!😳

No. Average usage would give that annual price
It's the unit prices and standing charge that are fixed so if you use more gas and electricity then you will pay more than £3k

When and with who please?

Potential Conspiracy Theory (sometimes I should probably not have that second espresso, but here goes anyhow);

What if energy companies or unscrupulous traders (the type that thrive on chaos - disaster capitalism) knew the prices weren't even remotely feasible practically and politically, but took it to the wire because if they can get some terrified people to fix at insane amounts, they'll end up keeping the ridiculous payments even if the prices fall?

It would be an incredibly effective way of making unimaginable levels of profit for the companies and even more so for those who own shares and then offload them just before there's an official decision to not charge the obscene amounts they're doing right now.

They'll fit pre-payment, though, if the majority of people defaulted that seems unlikely.

I'm glad people are being quoted ridiculous prices - it gets everyone's attention rather than just those at the bottom - maybe we'll see some collective action? As a nation we've become a bunch of nodding serfs!

Surely the government most know people can’t afford these bills? They must know that people will go into poverty.

People will give up leisure activities, hospitality will be crushed. Potentially millions of jobs gone.

So if a dimwit like me can see this, why is the government not doing more?

We’re npower and their offer is £268 for a 3 bed, currently paying £148. It was £87. Through summer our use has been high, relatives staying cooking morning and evening on gas and 2-3 extra baths on gas too at points. So not typical summer use at all, 7-9 people in the house at most points!

We’d laughed off npower’s offer, this thread has shocked me.

Posted this on another thread

The fixed rates being offered seem startling but check the kWh and standing charge prices and use the calculator
It's going to go up - but I fixed because it's paying a higher rate vs paying a v high rate

So let's say (numbers out of thin air) electric is 50p kWh on the offered fix, you currently pay 20p kWh so think FUCK that's £££ I'm staying on the variable which is 40p kWh
But the estimated price it could go up to is 75p kWh so you're actually better off to fix and pay the 50p

I’m almost less worried tbh about domestic, but I worry about a decimated a high st and services. How can anyone sustain a business on these rates? Keep a library or school warm? I’m scared we’ll be in a semi boarded up area and of job loses, even more scared than living indoors in thermals.

Where are the links to estimates? I’m going to log in and look

The other thing that I think is really problematic in quoting in £ is that it makes it seem like a done deal and that there is nothing that can be done. I really, really feel for people who don’t hear their homes, worry about using the oven etc already but for a lot of people expecting bills of £600 it could be cut to £400 relatively easily (still too high I fully realise but it’s better). It’s the already low users who can’t cut

This is very true. I still have some cloth I can cut, some people cut all their cloth a long time ago.

If you login there will probably be a “want to fix?” Or “our tariff offers” or some such link there.

Probably going to get flamed for asking a question that’s been answered (looked but can’t find anything).

I upped my direct debit amount to create a cushion, and I’m currently in nearly 400 credit. I’ve recently fixed at 200 a month for a one bed flat and plan to use far less energy than I did last year.

if I don’t use 200 worth of energy per month, am I right in thinking I’ll just continue to build credit? I know I sound dense 😶

@MumEeeee
See attached, and link below for calculator

https://www.moneysavingexpert.com/utilities/-are-there-any-cheap--fixed-energy-deals-currently-worth-it--//*