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?

before rises you'd be paying around £280 a month?

I find that amount totly alien. I'm struggling to pay low 2-figure DD monthly. I hope you all find ways to manage - I don't know what I will do

Ours has just gone up by £200 a month from £240 to £440. I'm expecting it to go up again by as much. Our food bill has massively increased and I've switched to full time Aldi/lidl

My bill is similar to yours.

It is not great for the bill to go up by 1.8. But I read somewhere that it could go up by 4 x (probably some rag scaremongering by giving the worst case scenario for some people who are coming off a low fix from last year) so 1.8 is not that bad.

Currently £120 a month, so moving up to £216.

But that's for two of us in an older four bed detached. Some of these projections seem really high. I know there will be more showers for more people but £350 a month in a two bed terrace?

How are you all spending so much before the hike. I have a 4 bed 3 story with 2 kids and 2 adults. 100 per month for both gas and electricity.

Did Jeremy Corbyn not want to nationalise energy companies?

He was never in govt, though. They all have great plans of what they're going to do before they get elected which hit all sort of unexpected hitches that need several reports written that kick the decision down the road by 10 years and onto another PMs plate.

@IamSamantha ours has been the same, has been around £172 all year then august jumped to £400. Going by these predictions it'll be close to £800 in October 😬 completely unmanageable by most peoples standards I think

This time last year my bill was £58 per month, now it's £140 - in October it will be £252!

duel fuel, it was £112, i managed to input £239, lower than they suggested, so i might try to lower it again

We're looking at £330ish per month for combined gas and electricity, previously paid around £176. 4 bed detached and WFH.

based on this thread i have managed to lower again to 195

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

Is that true though or is it even worse than that? (Hear me out, I know that’s a simple way of expressing an 80% rise).

However, it’s the unit prices that go up by 80% in October, not the DDs. The DD is merely a way of spreading the total cost evenly over a year. We’re all going to use a lot more units over winter, at the higher price.

How does that translate into the bill? Please tell me I’ve got the wrong end of the stick, my mental maths isn’t the finest, especially at 6:30am!

It's pointless speculating about what will happen to bills/unit rates/DDs at the moment until we know what the government help is going to look like.

They seem to be suggesting they're going to freeze it at the current level for the foreseeable, which might mean the 80% rise isn't coming.

This article does a good job of explaining how unnecessary the energy price hikes are. Electricity prices are based off gas prices, and gas prices have risen because of war. But the U.K. only uses gas for 20% of our energy needs, and the cost of electricity production has not gone up - indeed renewables costs are coming down. The cost of eg wind power hasn’t gone up. so our bills based on cost should not be going up by anything like the amount they are.

We’re being charged so much more for energy because of a bureaucratic quirk in how electricity is priced - which means the energy companies make huge windfalls at the expense of everybody. It’s sick, and a market failure, and Truss should tax energy companies to bring bills closer to cost (as they should be for a regulated utility) while working to remove the bureaucratic quirk. She’s said investors wouldn’t like windfall taxes. Investors understand these profits are supernormal and a market failure. It’s immoral not to tax to bring utility prices closer to cost for what is a need not a want. It’s the Tories though, so it sounds like her plan is to take from our futures and our kids’ futures rather than just explain this and tax energy companies, as would be reasonable.

www.goodenergy.co.uk/why-does-the-price-of-gas-drive-electricity-prices-including-renewables/

Lekki alone is About £55/month now, so go to £99.
I like how Martin Lewis explained it. Cool.

however wont our new PM introduce a cap?

I did wonder that too.
But I can't see them moving that fast on this price freeze.
And as it wouldn't be the smartest economic move long term, I'm not sure the freeze will be implemented. Anything could happen really.
We also need to see the new rates from our suppliers, maybe there's some leeway there and they won't all go to the maximum 'allowed' increase just because they can.

Currently paying £95 on a fix. Used his calculator with actual usage and would be £134 in October on the SV

I'd honestly give it a few days before you start worrying about this. It's highly likely that the new PM will do 'waves hands' something to shield us from the enormous rises.

pm has said freeze for 4 months only

Whatever

Whatever you are paying now will be 1.8 more on 1/10 but remember you are paying your summer amount.

i currently pay £385 of which £200 is my actual summer use. I overpay to build up for winter and I’m currently about £600 credit. Prior to last increase my use was half that

so my summer use currently is £200. This automatically will go to £360 on 1/10 per month and that’s before heating goes on. Once I hear house on such higher rates, my use will likely double again

for a 3 bed semi it’s ridiculous - we are out all day and have a new boiler!

I sont think a lot of people realise that their current predications are based on summer. New bills will be extortionate

Mine is £184 a month and is increasing to £331 a month . I keep a very close eye on it and our gas & electric comes to £100-£115 a month so I'm already overpaying at £184 so have built up £300 credit for the Winter. ( asked for a £150 refund in June too )

Anyone know why his calculator comes out at 68% higher than now, not 80%?

Currently £290, will go up to £522 with the 80% rise.

We have built up a decent chunk of credit though, around £1k so hoping this will keep our DD below £400!