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…

[kev2021]

Hi,

So it seems the new average standard prices from July 1st will be:-

Gas
Unit rate: 7.51p per kilowatt hour (kWh)
Standing charge: 29.11p per day

Electricity
Unit rate: 30.11p per kWh
Standing charge: 52.97p per day

——————————————————————

Existing Elec tariff:

Unit rate (Electricity) 33.97p per kWh
Standing charge (Electricity) 43.64p per day
No Exit Fee

Existing Fixed Gas tariff:-

11.2 p/kWh (I think from July, not 100% as its on price cap atm)
Standing charge 26.11p per day
£60 exit fee

——————————————————————-

1 year Fixed tariff being offered from July 2023:

Unit rate (Electricity) 29.37p per kWh
Standing charge (Electricity) 43.63p per day
£75 exit fee

No gas due to existing Fix deal.

So based on the above, *IF* I left it and went on the standard price rate from July, my unit price would drop approx. 3p but my standing charge will go up approx. 8p per day.

If I sign up to the Fix, my unit prices drops approx. 4p and my standing charge remains the same.

So from that point, it looks like it’s worth doing right for Elec? Especially fi they say prices will go up a little in Oct..

Gas I’ve not been offered so will leave that and maybe get out later but need to calculate will i save £60 by doing so.

Link to MSE article for info, prices at the bottom : https://www.moneysavingexpert.com/utilities/-are-there-any-cheap–fixed-energy-deals-currently-worth-it–/

Kev

Share the knowledge

You need to login in order to vote