OMG... I've just had my new fuel quote

[listsandbudgets]

£10650 a year!!!

We currently pay about £200 a month - big old house with quite a lot of people in and out so thats not unreasonable but this is astronomical

What the fu*k....

It's over a third of my annual pre-tax income.

They are going to have people on the streets

In shock

Worried by the noises coming from the Truss camp. Basically cuts to VAT which will save a a few hundred in bills if that, and extra help for those on Universal credit and that seems about it. Gonna leave the middle earners to sink.
Dunno what my fixed offer is at the moment, was over £700+ a month, not even being offered one at the moment….
Gas usage in this house is wild. 3 bed detached and 20000 kWh in gas last year. Reckon I’ve got that down to maybe 15000kwh this year. Gonna insulate the loft and a load of other stuff that will hopefully help. Big worry…..

Ladies and gentlemen….. unless you are looking at unit cost, you have no comparison

Bloody hell. I have just done the calculator and ours was £75 this month. Going up to £250.

I used to wash everyday. Not any more! Also I'm washing whatever I can get away with on the speed cycle as it uses less energy looking at the user manual on line. It's going to be a stinky winter.

I just couldnt pay 10k. I'm going to watch my smart metre like a hawk this winter. I might even resort to running a baby wipe or wet flannel over the kids uniforms. There has to be a way to prevent becoming destitute ( I hope).

The fan heater is probably 2kw, most of them are. Might be worth looking at heated throw/gilet/heated gloves etc to try and warm your dad more directly as at October rates a fan heater will cost about £1 per hour to run so it won't take long to make back the cost of these if they'd work. Generally your big energy munchers are things which heat or cool - fridge, freezer, heaters, immersion water heater?, tumble dryer, etc.

Oh god a 2kw fan heater is awfully hard on electricity!

there are 500w around which can be useful.

If you are a high gas user it might be worth crunching the numbers on the utility warehouse deal (see moneysavingexpert for info). I've just taken the leap on this for my mum in law - the electricity unit price is higher than October but lower than the predicted January rate, gas is not much over the October rate. I found her month by month historical use figures and worked out what each month would cost at the expected cap over the next year, vs the cost at the utility warehouse fixed rates and added it all up, factoring in the extra sim and boiler cover, and because she's a high gas user it came out over 20% cheaper over the year. Exit fees are £75 per fuel so if the government do something and reverse the prices I can get her out of it relatively cheaply. It's absolutely not for everyone but if you use disproportionately high gas it's worth checking. If you're down to 15k it might not work - she's at more like 25-29.

Completely fucking eye watering numbers though.

I'm very confused right now, throughout pandemic had estimated bills, sent an actual meter reading in nov 2021, and got a £1k bill, so switched from 200-250 per quater, to £215 a month DD for electricity. It's come down month on month since then, as i sent a metre reading on the last day of each month now.BG suggest every month im paying too much and suggest a new DD ammount. July was £148, i sent a metre reading on the 30th Aug, and they suggested i change my DD down to £77 for September. Despite looking on the website and app, i cannot find any prediction for my October bill forwards at all.
Gas is £10 a month, only thing on gas is the hob which we barely use. Boiler broke 13 years ago, never been able to afford to replace as its in a bedroom which isn't allowed now so would have to relocate, new piping etc. So, all electric house. I'm disabled with reynauds (sp) and my feet are iceblocks even at the height of summer, and my house is open plan downstairs, using a fan heater. Well, i did last year, doubt i will be this year!

Thanks. Will take a look. Hard to know how much I may have reduced gas usage as switched suppliers, so only last year as a baseline.

Bloody hell lists that’s horrendous. I don’t know how anyone is going to cope. We fixed, DH deals with it so I can’t remember exactly but it’s about £260 pm. No idea what it will be when that expires. Luckily it’s only us 2 now, DDs are in Uni, so we can cope with cutting down. WFH so that helps, no need to commute or buy clothes for work etc.

I'm paying £200 a month ( 5 bed house rads off in room not used, insulated double glazed etc) eon next want £500 a month I "only" used £110 of gas and electric last month due to the warmer weather. I stopped my direct debit so they can't take what they want, submit a reading then pay £200, I'm not paying more than that, our money can only stretch so far now and it's running out!

Was that a fixed offer or variable? At this point in the year you should be in credit anyway. It wouldn't be unusual for your DD to be in the region of 2-3× your summer use (looking at the breakdown of monthly data for two different houses just now), and that's before the price increase is considered. Factor in an 80% increase in October and it's possible that £500 is the "right" amount for your expected use.

If you don't pay by DD the price cap is higher - around 6%.

British Gas offered me a £10k a year tariff - gas was 20p per kWh (can't remember the rest). They offered 16p per kWh two weeks ago..... we currently pay 5p per kWh....

Admittedly a big house but shocking.

What I've done to try and make sense of it all is this .
I looked at last years bills and took an average months usage from winter. I then converted the gas usage to KWH (elec meter is already in KWH). Then I multiplied that KWH usage by the new units costs that were published with the recent price cap.
That tells me how much my bills could be per month, if my usage stays the same. It's not great, came in at about 350 a month, when we used to pay 120, but is nowhere near the scary figures flying about.
We've been overpaying for several months, so are now about 500 in credit. I make sure I submit a reading every month, so we're up to date with usage.
We will all get the 67 reduction per month, but I guess we have to wait and see what the new PM does. I'm not holding out much hope if it's Truss.

The thing is a thorough understanding of usage, caps, increases and fixes etc is needed for this. Many people were shocked at fixes which were actually pretty much what the predicted October price-cap would be, therefore not recognising they were being offered a pretty generous fix. I jumped at a fix which many would have baulked at as it was pretty much double my costs but it has turned out to be a pretty sensible move.

Where did you get thoae figures from @pinkyponkyplink please? I'd like to know what ours is going to be. We were on £125, now on £300 fix until Jan. Our energy company say they can't tell us until 30 days before our fix ends what our new price will be!

Right Ive just down the which calculator and they say we will be approximately going from our current £300 to £1000. We are heavy users of gas though, 22000 kWh a year gas and 4k a year electric.

Does anyone know if we cut our usage (how I don't know with a severely disabled dc) how long it would take for them to reduce our payments?

This is ducking terrifying me .

I live alone and barely scrape by now - my current dd is £100 a month .

I saw someone had calculated that in Jan last year used £44 of gas - this year that same use would equate to £350 with standing charges and VAT .
There is no way I can afford that .

Are you sure you've got your sums right ? £44 going up to £350 doesn't sound right!

Rule of thumb is x3 which would be around £130

We paid DD 122
We were offered a fix of 400
Ish which Martin Lewis advised to turn down.
It is now 222 - so double.
Oct looks to be more - ??? 350 we will cut down
But potentially Jan 500, 600, 700
Middle earners so not viable
Will we get help?
Not sure liz truss gets it.
Can't get blood out a stone.

@Robin233 ours doubled too. Wish we fixed months ago. Is the £400 fix still available? Our fixes are close to £600 so not fixing and wondering if we will regret this too!

We've just had our April-sept bill. Was 900. Mostly electricity. They say our £330 payments will stay the same and they are refunding us £500

That would
Be more than my mortgage council tax Water and current gas electric put together?!!!!!

I'm very worried for business

@Powaqa

Have you the name of the gadget please?

I'd also suggest looking at the utility warehouse deal for you - I posted about it upthread. My MIL's stats are slightly higher than yours (about the same for electricity, actually a bit higher for gas) and even factoring in the extras her DD came out to just under £700. I worked those numbers out myself based on the kWh rates and standing charge and compared it to the predicted price caps and for her the saving was over £2k in the next year.

<I have no affiliation whatsoever with these guys, I saw it on MSE and initially dismissed it but when I looked at the numbers for a high user it worked out>

What was the unit price for electricity? Current projections have the gas rate over that by January so it might be worth crunching the numbers based on your usage and the projected cap levels.