When are the energy bills going down?

[BooseysMom]

So the government has stopped the £60 p/m towards the energy bills this month because they say the prices are decreasing now. This month ours has doubled, so that's a load of old bollocks is it?! What is everyone else's bill like now?

Exactly. Considering prices have been falling steadily for several weeks if not months since the last vague prediction from Cornwall Insight and Investec (I think): both went for about £2000 in July and October, unless they’d factored these falls into that price (maybe), then we’re looking at sub £2000. And if LNG supplies maintain and temperatures aren’t mega hot and dry, it’ll fall further. (And I guess the Ukraine war continues as is).

RIP to those that locked into Ovo at £2250 for 12 months. Chunky exit fee too. (ie 10% saving on now, compared to the likely 20% saving from July for 6-9 months, of which 6 months will be higher usage than now).

@Bubbles254 I can't believe they can get away with charging such big prices still! Where is the money going??

In the pockets of shareholders.

We got solar panels and so far we're producing more energy than we're using so selling back to the grid. What we earn from that pays our gas bill. Also got an electric car which is charged purely from the sun. One charge can drive me from London to Wales with 80 miles left in electric battery. I recommend this is the way to go.

This of course assumes that people have the funds to install solar panels or buy an electric car.

Not only do higher energy prices hit the poorest the most as a percentage of their income but the poorest are least able to do anything about it ( such as buying solar panels).

I'm in social housing in a listed building - no chance of solar panels here!

Thanks for everyone's input.

1dayatatime Yes I agree. In an ideal world we would all do the same. We have a 21 year old car I use to commute to work to a low paid job. There's no viable public transport where we live.. The only good thing is we have an air source heating system so presumably it uses less energy, however as it runs solely on electricity, we still have high bills. We feel trapped, more and more squeezes financially .

Can I just ask please who you are with? We are with So Energy and used to pay only £60 p/m. They beat Ovo by £5 p/m. Now it's doubled.

There aren't any cheap fixes and most tariffs will be sitting at the energy price guarantee rates.

My actual usage last month was £280 combined. I pay £285 per month and am £100 in credit.

In May 2021 I was paying £130 and In 2022 it was £165. Price per kwh and standing charges have risen so the only way to save is to cut your usage

The next price cap announcement for July-October is expected to be lower than the current Energy Price Guarantee, it was predicted to go from £2400ish to £2000 last time I checked (average household use). That is excluding the £67/400. So nothing will change prior to July, although you may start to see fixes coming onto the market, not sure how they will compare to the current EPG.

Yup, Ovo already managed to trick people into a 1 year fix.

For three months or one month?

They did say they hoped it would fall below goverment cap prices by June.

its not legal to be charging you more than the government cap - the cap is the most they can charge you per unit, If they are charging you more then take screen shots and report this

They will be getting charged at the capped rate which will then reduce. They never said they were being charged above the government cap

Do you understand how energy costs work?

Your direct debit isn't how much it costs it's simply an estimate, did you think the price was all you can eat ?

They hope the energy price cap will fall below the energy price guarantee (£2500 a year for average usage), a temporary additional measure, at the end of June.

It’s not really a hope, it’s almost certain. Apart from a nuclear meltdown next week…oh

That's good news, I hadn't read anything about it for a while, was just rephrasing what the PP wrote.