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Original poster

Energy prices

36 replies

BabyTurtIe · 27/02/2022 20:24

I know energy prices are going up but I just had an email saying based on my usage they estimate I will be paying almost £100 more a month than I am now?! Does that sound right? 😣 how on Earth will people afford this?

OP posts:
userxx · 27/02/2022 20:33

How many kWh do you use each year? Is your energy supplier using the price cap ? It's quite easy to work out but you need figures to base it on.

earsup · 27/02/2022 20:39

most people who dont have a fixed deal will pay around that or more extra....and it goes up again april and october....!!!

Darbs76 · 27/02/2022 20:45

My mum said earlier her electricity (just electricity) was going up from £75 a month to over £200! That’s insane. She said she will be using less than that as will be more careful and thankfully she can afford to pay it but I’m sure many can’t. I’m already being much more careful with leaving things plugged in etc

SpideyMom · 27/02/2022 21:24

My Mom is with Ovo. From April hers will go from £110 per month to £296. It's make her ill. Her account is in credit too. I dont know what people are meant to do

ChristmasComing123 · 28/02/2022 07:33

Hi I am also very worried about energy costs. We are on a fixed tariff at moment but this is going to variable. I'm trying to think how to cutback but I m not sure if much we can do. We've started hanging washing outside and not using tumble drier and reduced heating down. I've got a code for octopus if it helps anyone. Gives them and myself 50 off bill. I'm not sure who is cheapest at that moment.

share.octopus.energy/airy-hare-240

DogDaysNeverEnd · 28/02/2022 07:52

I just got an email from British Gas for Yorkshire (I didn't realise but price can vary by location) and checked the national average cap (white background screenshot attached). I would guess that all the companies are going to the max they can on the variable rate, so there are no deals around. The only way to keep the cost down is to use less, but as the standing charge for electricity has jumped I think it's impossible for the bill not to increase. At least spring is almost here, so heating costs should reduce soon. But, yes, the least well off and those at home most are going to be in a difficult position.

Energy prices
Energy prices
Energy prices
middleager · 28/02/2022 07:58

Yes, unfortunately, we are in this boat too. Ovo has nearly doubled the daily standing charge for electricity and the usage rate per kw has increased by nearly 40 per cent.

userxx · 28/02/2022 08:04

@middleager

Yes, unfortunately, we are in this boat too. Ovo has nearly doubled the daily standing charge for electricity and the usage rate per kw has increased by nearly 40 per cent.

It's the same for all suppliers. The price cap has increased.

DogDaysNeverEnd · 28/02/2022 10:15

So looking at the amounts it must be that people have been on really good fixed rates, that are now ending. I wasn't fixed (long story) so I've probably been paying more for longer but means it's less of a shock when the cap increases in April.

Remember energy bills are often averaged over a year if you pay by direct debit to level out the cost between summer and winter. This works well when energy prices stay roughly the same but it's not great when they are changing. It is good to try and build some credit over the summer if you use a lot more in winter or there will be a big shortfall on winter bills. Always use go back to units and do the sums on use before multiplying by the rate.

Pikachuspal · 28/02/2022 20:22

Email from eon today takes my direct debit from 130 to 200 a month. Not great but what I was expecting.

They offered a fix for one year at 205 a month which I’ve gone for, the catch being I have to start paying the increased prices tomorrow but it’ll save me money over next winter when the cap rises again. All a bit crap really.

HereWeGo22 · 28/02/2022 21:28

@Pikachuspal that sounds one of the best increases I've come across. I dont blame you fixing. Most increases seems to be double and more. Mine is looking like its going from 89 to over 200. Can't understand it as I've used less units this year and am in credit but that's because I'm fixed on lower unit prices than they can currently buy for. My current fixed unit prices are looking set to triple when the tariff ends (ugly crying lol)

Svara · 28/02/2022 21:35

The doubling is if you are on a fixed deal that ends coinciding with the April rises? I'm on £63 variable so I think it should only go up to just under £100.
£100 more should be right if you are currently paying about £200.

Dontlickthetrolley · 28/02/2022 22:09

My fix finishes tonight. So I'm submitting my meter reading so I've got a true cost, rather than then underestimating it and paying sone kwh on the higher tarrif. I've upped my electric payment and plan on using the £150 from council to pay it off as a lump sum against the electric in April.

Tippexy · 28/02/2022 22:12

@Dontlickthetrolley

My fix finishes tonight. So I'm submitting my meter reading so I've got a true cost, rather than then underestimating it and paying sone kwh on the higher tarrif. I've upped my electric payment and plan on using the £150 from council to pay it off as a lump sum against the electric in April.
The £150 will be going back to the council in the form of council tax increases, sadly.
HereWeGo22 · 28/02/2022 22:18

@Tippexy I did wonder if that would be the case with the CT

JackieCollinshasnoauthority · 28/02/2022 22:32

Mine is going from £130 to £300. Cheapest fix is £349 a month and I'm still not sure if I should fix? Martin Lewis still says wait and see what happens.

BarbaraofSeville · 01/03/2022 03:15

Everyone needs to make sure they compare unit costs and standing charges between fixes and the price cap as they're not necessarily based on the same usage.

On the matter of fixing, it's a gamble either way, but if you fix at a high price, you're agreeing to pay this, possibly earlier than you need to, but who knows?

One thing to remember is that energy companies will employ highly paid brokers and analysts to work out the best deal with the least risk for them. Probably some of those MN six figure big jobs, with huge bonuses if they win the bet.

So the average consumer is probably very much on the back foot whatever they do.

BarbaraofSeville · 01/03/2022 03:18

But some suppliers, eg octopus are offering loyalty fixes which are not massively more expensive than the April 22 price cap. In that case it might be worth signing up, this means you'll pay slightly more over the summer when usage is low, but the pay off is that if prices increase again in October, you're protected from the worst of that price rise.

crispsarny · 01/03/2022 03:56

I currently pay £120 per month to Scottish Power on a fix that finishes end of March, all the new fixes available to me are for £467 a month, absolutely crackers! I am waiting for them to contact me about what to do next as I plan on going onto variable, tried contacting them as very worried but can not get through online or telephone just disconnects.

anotherbrewplease · 01/03/2022 05:47

@JackieCollinshasnoauthority - wowzers - that sounds like a tripling rather than a doubling of prices. Sad Is your house particularly big?

And which energy company are you with? I'm interested as at the moment we are paying £130 a month with Octopus for gas and electric, and when I submit this months meter readings, I'll find out how much we'll pay in future (we're on variable rate at the moment) - hoping its not tripled!!

AllTheSunshine · 01/03/2022 06:24

I'm really pissed off that Eon's electricity standing charges are doubling so that even if I cut my usage they'll be quids in.

JackieCollinshasnoauthority · 01/03/2022 10:49

We have just moved to a 5 bed house and we're with EDF. I'm hoping we won't use as much as they have estimated as we move out of the winter because our budget is really tight based on £300 a month.

loveisagirlnameddaisy · 01/03/2022 10:56

@BarbaraofSeville

But some suppliers, eg octopus are offering loyalty fixes which are not massively more expensive than the April 22 price cap. In that case it might be worth signing up, this means you'll pay slightly more over the summer when usage is low, but the pay off is that if prices increase again in October, you're protected from the worst of that price rise.
Why would you pay more over the summer? You only pay for what you actually use based on unit prices. If the Octopus loyalty plans are similar in price to the price cap, then your final costs will also be similar.

If you mean you'll pay more over the summer because direct debits are averaged across the year, that's true, but that's nothing to do with price plans. That's just the nature of averaging out monthly payments.

loveisagirlnameddaisy · 01/03/2022 10:57

@AllTheSunshine

I'm really pissed off that Eon's electricity standing charges are doubling so that even if I cut my usage they'll be quids in.
But even a doubled charge might only go from £8 to £16 per month. Standing charges are not mega expensive when they're worked out over a month. It's the unit charges that are the real killer.
Douchebaggette · 01/03/2022 11:00

At the risk of depressing everyone: I don't think energy prices are yet as high as they are going to go. With sustained high raw prices, plus the West sanctioning Russia, I think we're going to see them go up even futher - maybe by as much as 40-50%.

Next winter is going to be very hard, I think Sad