New gas and elec tariff! Oh my!!

[Blacknailvarnish]

Our fixed rate gas and electric tariff for which we paid £156 a month comes to an in September. We have been v lucky to have been protected from the April rises.
We have just had our new tariff come through - it’s going up to £702 a month. Wtf do I do? I know everyone is in the same boat but holy crap, I had about £500 in my head not £700!

@feellikeanalien you can just pay for what you use, you can be careful with what you use. Just look at the pKw rate and how much you normally use.

the rates ARE going up a lot, but other than the daily standing charge, you're totally in control of how much you use, no need to have it cut off xx

@Blacknailvarnish

there are several threads with people saying the same, there must have been a massive mail out.

you can pay monthly for your actual usage if you prefer. I think there's a couple of things going in, mainly trying to protect people getting into debt over the coldest months but also trying to get some funds in so they can advance purchase more fuel at a better price. The more people paying a bit in advance, the more fuel they can buy at a better rate.

Furthermore OP must be a very very high user, as the proposed fixed rate we had from BG was for £250pm, based on our useage.

I'm not taking up that offer as its double what we currently pay per unit.

We will be turning the thermostat down to 19 between 8am and 10pm, then down to 15 overnight, turning off bedroom radiators entirely.

We will be batch cooking, slow cooking and only using the tumble dryer for 5 mins to finish off after line drying.

Is that just a direct debit amount? You may be able to calculate your actual expected usage if you know:
How much your annual use was last year
How much your tariff is

Sorry, it didn't update with your response before I asked that

I've checked our latest bill and we used £38 of electric last month. This is based on actual readings.

I haven't got a dishwasher or tumble dryer and probably the main thing is the oven and hob. We only have electric (there is no mains gas where I live) and I am also struggling with having to pay double what I used to for a tank of oil (for central heating and hot water). Luckily we have an open fire in the living room so could afford to heat that. Unfortunately the fire doesn't heat the water (as it used to in our last house). I could probably manage without central heating and just make sure the living room is warm but the idea of living without hot water through the winter is pretty grim.

Isn't the UK supposed to be the sixth richest country in the world? Something is definitely not right here.

Surely something has to be done as they can't just keep increasing the price cap otherwise what's the point of a cap at all? Really don't understand it either when the companies are making such huge profits. We are sitting tight on variable at the moment, have seen an increase but not huge amounts although granted it's been summer and not used much gas. We provide readings every month so at least can keep an eye on where we are.

Yes, a dedicated board.

You ask MN!

Must have seen 5 threads like this today

The utility companies have been massively caught out by current fixed rates and are losing a fortune as a result. The suggested fixed rates they are proposing are sky high so they don’t get caught out again.

Almost nobody will be better off right now if they fix. The issue is whether someone would be better off fixing now with future rises on the way and that takes some working out (and possibly use of a crystal ball). I’m not fixing but I paid a very low amount until recently (still in credit) and if it’s 5 times what it was in January, that’s still less than £300 per month for me and I can afford that.

I’m still going to be heating one (small) room, using feather duvets (which I find to be warmer than normal duvets) wearing an oodie etc. Speaking of which, if anyone is thinking of buying an oodie, they’ve got a major sale on at the moment.

Is this a fixed rate?

If it is, really consider NOT taking it and going on to the cap, which you just default onto when your current fix comes to an end. This will be less expensive for sure.

Not necessarily - links posted further up

Over on the Money section there is a Cost of Living board. A few of us are having a moan and swapping tips over there.

@Blacknailvarnish I wouldn't fix at those rates. I'll try and find the link from another thread that shows the predicted price cap from October

This shows what the predicted prices will be
If your fix is higher than this then it might be worth staying on the variable rate

This. Plus the effect of the war in Ukraine that is threatening the very real possibility of electricity and gas rationing being imposed, by rolling blackouts, not just because you can't afford to use as much, over winter.

For financial, political and environmental reasons, we cannot afford to continue washing clothes that aren't dirty, using tumble dryers when we could air dry, more than one quick shower a day per person then washing the towel after one use, heating the house to t-shirt levels in winter 24/7 and all the other indulgent, wasteful behaviours.

If you're using enough energy that your proposed bill is closer to £10k than £5k, then it is very likely that there is quite a bit that you can do to use less, without sitting in the cold and dark surrounded by damp laundry.

We do need a specialist board for this.

How do we asl for one?

Join this group for advice on what to do -
www.facebook.com/groups/966754150512356/?ref=sharewww.facebook.com/groups/966754150512356/?ref=share&exp=9594

Barbara I don't think we can cut back more and we don't wash towel's after every use....
We only use lamps anyway

One thing we do is dry on radiators.

I wonder if it's worth buying an air dryer?.
Standing radiator?

I still remember living without electricity in the eighties when my single mum couldn't pay the bill and they cut us off. It was cold, dark, horrible and humiliating.

I can't believe the government is letting this happen.

@mnhq can we please have a special board?

It probably fits on the cost of living board

Our house was also freezing,no double glazing, metal frames...ice on the inside, but we had a proper fireplace.

We gathered around it, ate near it.. warmed ourselves by it.
I think people will be looking to be self sufficient again and not rely on companies. I wish we had a proper fireplace or woodburner now!!

Energy companies are panicking. Between the huge price hikes and increasing numbers of customers refusing to sign up to fixed tarrifs/pay in advance, they are worried they won't have enough money to bulk buy energy in advance for the winter.

Our utility company put our dual fuel up from £150 pcm to £310 pcm in April. Paid it for a few months then had over £700 credit.
Asked for a refund and said it looks like we're paying far too much and asked to reduce direct debit. They reduced it to £200 pcm
Was refunded £300 and kept £400 in credit
I don't understand why it was increased so much to start with other than to get into credit for winter I suppose, but I'll pay the bill if I've actually used the fuel

I’ve had two log burners put on over the past few years, which I’d viewed as frivolous really. Now I am so blinking relieved we have this alternative source of heat!