Gas & electricity price shocker quiz.

[Neolara]

So our energy supplier has just told us that our fixed rate of £1,800 for gas and electricity will come to an end in Feb. Any guesses for how much they are planning to charge us for the same service after Feb?

(I won't keep you in suspense for too long).

Double?

Ours was double if we remained on the fixed deal!

£3k?

Triple

Well mine that was £2.3k is suggesting £5.9k! (we are standard 4 bed detached) so going to guess at £4K for you

Yeah I’m guessing 3k, OP.

£2700

Four thousand and something.

Dont fix, stay on the variable tariff is still the Martin Lewis advice, I believe (off to double check!)

4k.

I've gone to the variable tariff as the rise on fixed was just too much

3 millionty pounds every bloody month

They must be gutted it's been so mild

3 millionty pounds every bloody month

Ha! Spot on!!

It's £4,800! I nearly fainted. We've a 4 bed detached. It's not huge and it's been insulated as much as possible.

Jackstini - £5,9k. Bloody hell. Just nothing else to say

Will head off to Martin Lewis website. Thanks for the variable tip off.

@Neolara

3 millionty pounds every bloody month

Ha! Spot on!!

It's £4,800! I nearly fainted. We've a 4 bed detached. It's not huge and it's been insulated as much as possible.

Jackstini - £5,9k. Bloody hell. Just nothing else to say

Will head off to Martin Lewis website. Thanks for the variable tip off.

That's why you shouldn't take the fixed rate offer Go on the standard variable rate for now as it's covered by the price cap that will be reviewed in april

These were my 3 offers. I have chosen the flexible octopus rate as its cheapest for now

Ffs that’s ridiculous

I was offered a new 'deal' in Sept , it 'saved' me £5, so I didn't bother re fixing.

Then shit hit the fan & rates shot up. I'd have been sitting pretty if I'd fixed it.

So I have fixed to Dec23 now because whilst the Std V is cheaper right now, I think it will go up beyond what I've fixed at.

I look at the unit rates, because that's all that actually matters. Your 'fixed' is only fixing those rates.

Mine has been fixed with BG at £92 per month til Nov 2023 for both. But that's a tiny mid terrace and I get heat from both sides, so don't have heating on much as it gets too stuffy

Well don't fix, for a start. Our fix is about your current rate and roll on to the cap at the end of Feb so in the same position as you and just glad we didn't get a hot tub in the lockdown doldrums.

The price of £92 a month isn't the fixed part. The actual rates per kWh are fixed. If £92 covers your usage then that's good but if it doesn't you could end up with a debit balance

@Neolara
Not meaning to steal your thunder but I can actually top that with my renewal offer.
We have a large older house and 2 children with special needs that require a warm house and create endless loads of washing.
We are with together energy and our fix has just run out. At present we pay £ 3000 a year anyway which is bad enough and they estimate we will be paying £ 4500 with price rises this year. Gulp !
BUT if we want to fix we can do so at £749 a month ! ! So just under 9 grand a year.

I thought it was a mistake but no apparently not !
No wonder the advice at present is not to fix.

Yep - I am staying on variable for a few months then will review..!

We're with Octopus on the variable tariff and have been for years. We've not had any change to our payments. They are taking on new customers now so if anyone wants to switch and get £50 I'm going to cheekily throw in my referral link here
share.octopus.energy/pear-sheep-860

The £92 is based on my average usage. I've made a conscious effort not to have the heating on as much the last few months, invested in throws thicker curtains. Have done a meter read and I'm using less than last year.

I know this is lighthearted, but this is going to push so many people into extreme poverty. Food bank use in my town is up 600% compared to four years ago, yet as demand increases, donations decrease (people can't afford to help anymore).

The government needs to do something urgently.

Our joint rate for tiny end terrace has gone from 80 to 130. We are not hugh earners at all.