Electric/gas bill going from £1800 a year to £7k?????

[HoneyFlowers]

My partner has predicted our electricity/gas bill is going from £1800 a year to £7k????? Surely that's not right???

How did he work out the cost?
Is he talking about a fixed rate or standard variable rate?

Depends on where he got the data to make his prediction. So little info to go on, but, I doubt it is right.

Your bill will have the annual projected usage on it.

Multiply these units by the unit rate
Multiply the standing charge by the number of days in the year.

Use the rates inc vat.

Do it for gas and electricity - add them together.

Factor in a very likely price increase in October - the percentage might by on the OFGEM site even without this you'll get a rough idea.

Anyone who is still benefitting from a fixed tariff (reduced rates) will find it even more painful when these come to and end.

Is he looking at a new fix to replace one that is ending? Chances are that it is much more expensive than the price cap, so don't sign up until you've read the advice by Moneysaving Expert.

www.moneysavingexpert.com/utilities/-are-there-any-cheap--fixed-energy-deals-currently-worth-it--/

But even without signing up to an expensive fix, it might not be far off sadly. If you're coming off a fix set 2 years ago, the price cap was around £1050 or so and there were fixes available quite a bit below this, around £900, based on typical use, which it sounds like you're quite a bit above.

Now there are no cheap fixes and the price cap come October is going to be around £3000 so 3 1/3 times higher. That ratio multiplied by £1800 is £6k, so the extra £1k could be explained away by a debt on your account or your company setting your payment a bit higher to prepare for higher winter bills.

You need to fully understand your annual use and how much it costs, not just look at DD figures to make sure you pay the right amount.

With that consumption, you could also benefit from seeing if you can reduce your usage, by changing behaviour and/or investing in energy efficiency measures.

7k bit OTT

Why don’t you ask him to explain how he figured this out. If it was done properly he’ll be able to tell you a) your current rates b) future rates (based on current standard variable tariff + predicted increase in price cap) and c) your usage

it should be quite clear if so

Do you use more than double the ‘average’ use of gas/electricity ?
Average being around 3000kwh elec and 12000kwh Gas.
We use bang on the average for Elec but 70% of the average Gas.
Ours will rise by £1200 a year come October, so £800 after the £400 from the Government. That’s a full £100 a month more than we paid last year.