i have just fixed my energy tariff

[MrsLargeEmbodied]

i was oblivious to all the angst until now i realise it is affecting me - i mean i had a hunch it would.

anyone else just had to fix their tariff?

@Offandonagain I work out that your electricity and gas would be 88.40% and 81.61% higher than the the current price cap so would be a bit above the predicted price cap rise in October.

Thanks

I'm also staying on the variable rate with Octopus

I think the general advice is to go on variable at this point?

currently until end of sept
Day rate
24.51 p/kWh
Night rate
12.18 p/kWh
Standing charge
17.27 p/day
(All rates inc. VAT)

then Next Online v18
Starting on 21/09/2022
Fixed term ends 21/09/2023
Day rate
59.46 p/kWh
Night rate
42.43 p/kWh
Standing charge
41.75 p/day
(All rates inc. VAT)

looks to me like just over 50% higher

@dementedpixie i have now posted.

@MrsLargeEmbodied are those the actual figures for the fix as they are very steep?

Your day rate would be up 142.59% and the night rate up 248.36%!! Standing charge up by 141.75%.

Are you going from 1 fix to another? What would the prices be for the variable rate rather than your previous fixed rate?

i cant find the variable

If you don't choose a fix you go automatically to the variable rate. It must show somewhere

Think this link shows the economy 7 rates but don't know your region

www.eonnext.com/electricity-and-gas/tariff-prices

We took a 3 year fix in April 2021 and I did have a moment of worry about if I should be fixing for that long.

I've a really clear memory of the broker we used (it's a farm so it's a business energy tariff) saying, at the end of the day energy prices rarely go down by much if they do but it protects you if they shoot up.

so very very glad now he was a such a persuasive salesman!

I have been with Utility Warehouse for a number of years. I am fixed with the gas and it actually went down from £28 to £22 as it is a very warm home so I cut down on use last winter. The electricity is variable and the bill is much higher but I decided to stay on variable for now. Buying a Ninja air fryer has helped the bill and my ds is only using the electric oven twice weekly for pizza now. But I am still very concerned about future electricity prices and managing as a single parent.

Say you have fixed at £300 a month for duel fuel , will you pay that minus the £400 the government are giving you or will that £66 just be credited to your account ?

DH decided to fix because he read somewhere that all the major suppliers are taking away their fixed offers. In all honesty it is unlikely we will use the amount of fuel we are paying for, so will hopefully end up in even more credit than we are now.

It's not the monthly payment that's fixed, it's the price per kwh and standing charge so your £300 will 'buy' less gas/electricity than it used to as the price per unit has increased (if its a recent fix)

So they could charge more than the £300 even if you have fixed ?

Yes of course they can. If you are using more energy than the £300 covers then you would increase your payment to keep you from going into debt.

We fixed back in October when Martin Lewis was telling everyone not to, thank god I ignored that advice 😳

Yes of course. The fix is for the unit price, not the monthly amount. The monthly price is just an estimate of your costs.

Yes that's just an illustration based on a certain amount of usage (based on your average usage).
It's not an all inclusive buffet, where you can use as much as you like and pay one price

We’ve fixed for £130 pm from end of Aug for 2 years. It’s double what we were paying last year, but our usage seems low.

I've stayed on variable with EDF since my fixed rate finished in April.
For my consumption, gas & electricity, its a no brainer for now.
I check the rates monthly and will return to a fixed rate when the moment looks right.

Added to their electric account. I'm grateful for the help but my heating and hot water are gas, so it is by far the bigger bill. Obviously the much smaller amount I would have been spending on electric can now go to gas.