Based on this projection, how much will your energy bill be in October?

[steakzilla]

Martin Lewis has stated that every £100 we spend now will be £180 in October.

Based on this our bill will go up to £348.

We have a 2 bed well insulated mid terrace house. Combi boiler. Electric hob, not gas. Heating on at a minimum already for the last few years.

I think we will need to cancel some of the kids after school activities.

Based on this, what would your bill be?

Blesss Martin for mansplaining what an 80 percent rise means, I hope it made him feel important

🤣🤣🤣

Plenty of people really don’t get percentages, you know.

In all seriousness, there are plenty of people who honestly wouldn't understand it otherwise. I'm in an energy group on Facebook and plenty of people genuinely cannot work it out at all. Financial literacy in this country is terrible.

Just multiply your current bill by 1.80

mine will be £700 - that’s as it would be now - before I put heating on!

3 bed semi

Per month??

We fixed for a year in July so only went up
About 60% vs the 80% coming in oct.

Truss is apsrently (sky paper review) going to freeze bills until possibly 2024 - this will also apply to business. Around 100bln apparently.

My worry is the £ is constantly falling and that's big big trouble. Those who know their history will know this triggered a withdrawal of investment in the late 70s and a run on the pound. Basically people think the pound is constantly falling so withdraw funds - pound then falls more, we ended up with 15% interest rates.

It's possibly we see huge interest rate rises / next weeks could push the base rate to 2.5%. Bad for many renters, mortgagers, anyone with debt...

Hopefully she gives confidence to markets but spending so much so fast and massing so much more debt isn't a good start... should be taxing companies and rebating bills rather than funding the difference in cost.

Mine should be around £252 up until January which is beginning to sound low compared to other people's.

Our bill for the last 6 months is £800 (22 Feb to 01 Sept) just received today. So for the next 6 months would be £1,452 assuming no change in usage and ignoring the January increase. I think.

We are currently paying £200 a month and are £400 in credit. EDF want to put my DD up to £442 a month, I've applied to reduce it but the lowest they will let me reduce it to is £354 and I've got to wait 2 days for them to make a decision on it. Not sure where I am going to find an extra £154 a month from tbh.

Since the end of last year, I've paid for what I use, monthly, by dd. I did a quick check on my February '22 bill earlier, and I worked it out at £191.00 for next February. I forgot that we had an increase in April (fucking idiot), so, I reckon it will be around £230 quid. My last bill was £92 for July to August. That is for both gas and electric and I live in a 2-bed semi with 1 other adult and a dog. I've also cut down on energy significantly since April. Hoping that reflects in our future energy bills. I'm reckoning around £200 to £300 through Nov to the end of Feb, with hopefully around £150 for spring and milder months.

We fixed at £800 a month until Dec 2023 😒 arghhhh. (Use to be around £300 a month, 6 bed detached)

£90 per month for gas and electric combined.

3 bed semi.
My energy supplier have just sent out an annual prediction for next year.
Our usage this year was £1,051, or £87pm.
They're predicting this coming year will be £1,561 which is about £130pm
But I guess that doesn't include October's rise? I don't know. But then there's £66 to take off each month which the govt has given me.

I'll just keep my eye on the usage and turn off as necessary.

Can someone explain in dummies English how decoupling electricity and gas will make energy cheaper? It seems like they've always pushed that buying them separate made them more expensive. I'm confused. 😕

Mine is a bit different as I took a low fixed rate 30 mins before they pulled it
So currently £60, going up to £200 on a new fixed rate. Great...
And that was with not having the heating on often last year so yes I was cold at times

£450 😩. Will be about £700 after all the predicted rises happen.

£85 based on just an 80% increase. But not sure what it will really be as my provider is actually exempt from the price cap.

I think this is unfair, general numeracy is not that high and Martin Lewis explains things clearly and has cut-through/reach. You might be a clever clogs but lots of people struggle with numbers and are worried.

Have a . And you've misunderstood mansplaining, it isn't any time a man explains anything. It's literally his job to explain money.

@steakzilla I'm prepping for £360 in October.

2021's bill was £900 & I'm in a fixed contract until October

My Ovo bill this month suggests it will be £3550!!!

But DD & her boyfriend moved out so hopefully it won't be that much!

It isn't decoupling actual gas and electricity - it is decoupling the pricing of gas and electricity - currently the electricity price is pegged to gas prices based on the historical need to burn gas to make electricity. These days much more of our electricity is made through wind, solar etc so gas prices don't affect it. This link has pushed ectricity prices artificially high.

Ahhhh, thank you, carefully. I should have read the news articles more carefully but that makes sense. However, it's shocking that it's taken this crisis to make the uk - and Europe - get round to doing this! We've obviously been being ripped off for ages! Why hasn't the regulator been onto this as well?

The regulator has completely failed

It makes me mad that for at least two decades we've been trundling towards this situation, no govts of any colour making any decisions but just keep putting it off. Govts are so scared of doing something unpopular they just do nothing instead. And when they do try something, the next govt cancels it. They're quite happy declaring wars, though.

Maybe someone can come up with some sort of comprehensive, cohesive, forward-thinking energy policy moving forward!! (Yeah, I'm not hopeful either. 😏 )

Our electricity is currently on average £10 a day so I guess that means it will go up to £18! So around £540 per month. It's a lot!
We're trying to be careful, although with an electric car and a teen plus nearly teen with their gadgets, and both of us retired so at home all day, cooking etc it's inevitable really. Then we just had to refill our oil tank (for central heating/hot water) which would normally have been a lot under £2k but was £2.7k). That's before the other price hike. We're definitely trying to cut back on our usage now. We've move our office from an outbuilding into the house to avoid heating two areas regularly. At least environmentally it's better but otherwise it's pretty shocking, really.

Did Jeremy Corbyn not want to nationalise energy companies?