AIBU to ask: Is anyone actually fixing their fuel prices?

[FrankWelker]

Posted on here for traffic
Is anyone actually fixing their fuel prices at these exorbitant prices? We have been quoted over £699 per month for dual fuel with Scottish Power.
Or are people just not fixing and going to use less??
Really stuck with what to do!

It’s a separate market to consumer providers though?

You can tax it, which they have to a high rate and reimburse which also has happened with cash but the consumer part and price cap is something else

@Hellocatshome

So what's your point then? Shell are a global company, not a UK based supplier. There is a shortage of their product which has increased prices and they are profiting from it.

The fact that the UK govt have chosen not to insulate consumers from the high costs is one thing but I don't see how complaining about the profits of a global company helps anyone here.

The long term solution to this is to produce more of our own energy but we will need to invest in that.

I just fixed earlier this week, moved to utility warehouse after reading MSE. luckily my phone and Internet have just gone out of contract so could get a better deal by taking on multiple utilities.

My DD was £65 before this all started, went to £115 in April at variable rate, and has just gone up to £150. So I'm paying more now, but will be less then the October (& January) rises.

@latetothefisting That is so clear, thank you for the explanation!

Putting aside the fact that the companies who sell us energy are not the ones making billions in profit a year, let's imagine that the Government decided to impose a 100% tax on Shell's global profits and give all that money to UK consumers to help them with their energy bills.

Wouldn't that be amazing because our energy bills would suddenly be affordable again?

Er, no. Assuming there are 25 million households in the UK, £11.5 billion shared amongst 25 million is the princely sum of ......... £460.

So helps a little, but doesn't really return a bill that a couple of years ago cost around £1000 to £1500 that has increased to £4/6k back down to affordable levels, even if we do confiscate the entire planetary profits of an extremely profitable company for the benefit of UK consumers only.

And why would we do that? What about everyone else on the planet, many of whom have a far lower standard of living than almost everyone in the UK.

@Headabovetheparakeet my point was I was answer someone's question which was are the people who haven't fixed subsidising the people who have fixed. The answer is no, we are putting money in the pockets of the companies not subsidising each other.

Also I'm all for a bit of capitalism but if you provide an essential product and raise your prices so high governments have to hand out money to help people afford it yet still make bigger profits than you have in the past you need to be taking a look at yourself. They could reduce their prices substantially and still make Billions.

Yes as a company they are going to do everything they can to make as much money as possible but that is why the government should be introducing a windfall tax for energy companies not leaving us all to choose between eating and heating.

The fixed rate Im being offered on Eon Flex is double my unit rate. Current unit rate is 29p for electric, the fixed rate is 60p.

Double

@PeloAddict

thank you for all the links, typically mine came out border line, so I’m even indecisive. It’s very helpful though.

Can people who are posting their fix or cost please set out the unit rate and the provider?

Theres no point saying 'I fixed at 207 a month' its meaningless without saying who you are with and what the unit rate is

I wonder if people dont even know what their unit rate is?

I fixed at this (the smooth one) with Sainsburys

Exactly these companies are opportunists

Very similar to my fix from August last year., fixed until August 2023.

Two or three weeks after I fixed, Martin Lewis said "don't fix!" and I kicked myself. Now I'm jolly glad I did...

I'm supplied by EDF, electricity only here as I have storage heaters/Economy 7 heating and have a different day and night rate. I fixed in July on their Fixed Total Service at the following rates:

Day rate: 51.73p per kWh
Night rate: 23.45p per kWh
Standing charge: 47.66p kWh

They've set my DD at £217 p/m.

Last October I had just moved in to a new house and according to my bill, I used 590kWh between 1st October and 10th December. I can definitely bring that down, and I input my meter reads every month.

But the energy company can take you to court if you don't pay your bills! You could end up with a CCJ and bailiffs knocking on your door.

I wonder what the government is planning to do if significant proportions of people default on their bill payments...

There will be lots of people who will ruin their credit rating.

I think its true that they cant cut you off but they will certainly take you to court to make attempts to get their money

So do I, given the current backlog of court cases. It’ll be 2030 before they get a CCJ.

Yes but like I say you can't get blood out of a stone. Yes all sorts of awful things may happen but at the end of the day if someone doesn't have any money they dont have any money. Thank God we don't still have debtors prisons or they would have to start building some more.

My fix from Eon on 10th August- hastily done as was a BIG news day re energy!

E 52.39 kWh s/c 44.75
G 13.27 kWh s/c 27.22

It’s scary how quickly an eye watering hike becomes a bit of a bargain 😳

What really pees me off is this should I fix dance? It’s not fair. Can they not just give us the bloody stuff for the cheapest they can get away with?
We’re not bloody financial experts.
And we definitely don’t all have our own crystal bloody balls.

Mine won't even over a fix...

*offer

That's a very long process, they try and sort out a repayment plan before they do any of that. I had ongoing issues for 3 years with underpaying my energy and it didn't go to court or have bailiffs round. My credit rating was terrible but it's now at "fair" a few years later.

If you have a smart meter they can put it on to prepayment at the flick of a switch. They may not take you to court but they can do that. If people simply cannot afford to top up their meter they will have no energy. None. The cost of topping up will simply be out of reach to many people.

The companies will either transfer people to a pre payment meter or go to court for a CCJ.

If they are awarded the CCJ, which they will be, it affects credit rating for 6 years until it "drops off" your file.

Slow payments are also recorded on credit agencies like Equifax,

The government are really going to have to step in. This is ridiculous.

Just posted on another thread despairing at this situation.

Thanks so much for the handy calculator which says that Octopus’ offer is currently 136% more so better off staying on flexible for now. I hope so anyway!

We've been offered a fix until September 2023 by British Gas 66p per kwh, 30p standing charge a day. We only have electricity, and estimate we use about 3500kwh a year. Really don't know what to do, DP is against fixing but he's not looking ahead past this next price cap.