Reply To: Energy Price Rises Hi all, What’s everyone thinking of doing RE energy bills? Going on variable and paying the cap prices? Choosing a 1 or 2 year fixed tariff? Staying with current supplier…

[UK Sentinel]

Nightmare all this is

Below taken from the Ofgem website, in essence, prices are falling and the price cap is/will be moving in the right direct.

My dual fuel contract finishes mid June, so will see if Ofgem intervene again and then hop on a fixed 12 month contract from July onward when cost cap may be reduced to around £2,014/yr – ‘hopefully’.

For yourself, you are a bit stuck and will have to wait until a descent fixed price tariffs arrive around June/July, but it would be interesting to see what Octopus options are when they get back to yourself ?

Martin Lewis thread below is an interesting read with predictions, if you have not seen it already ?

https://www.moneysavingexpert.com/utilities/energy-price-guarantee/

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Energy regulator Ofgem has today (Monday 27 February 2023) announced its quarterly update to the energy price cap for the period 1 April – 30 June 2023.   

From 1 April the energy price cap will be set at an annual level of £3,280 for a dual fuel household paying by direct debit based on typical consumption, a reduction of almost £1,000 from the current level, of £4,279 which reflects recent falls in wholesale energy prices. 

In a completely sane world, madness is the only freedom (J.G.Ballard).

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