Reply To: Energy bills to rise 9% in Oct 2024 Saw on bbc, Energy bills expect to increase by 9% in October 2024 and rumours will increase again Jan but not back to the levels previously, https://www.bbc.co.uk/news/articles/cy54r9r1355o Kev

[kev2021]

Agreed, I’m not overly concerned, more I don’t want to pay anymore than I have to and I already missed a lower tariff by BG last year and my existing contract is only 1 year so it will run out in June and therefore mean I’d likely pay higher prices next winter so not ideal.  I’m fortunately in that my usage is relatively low.  I’ve worked out that using the figures I had for gas/elec, for last year, it will cost me an additional £24.35 per year.

It seems OTM have altered my estimated usage figures so hence the estimate more elec and less gas but I’m sticking with my figures for now so will see.  Worst case, even though they estimate DD will be higher than now, I reckon I’ll end up in credit and likely reduce it as I did previously as I have currently £100 in credit with them as not used any gas over summer so hence bills not as high so I did reduce my DD so will see but atm I’m tempted to go with the 2yr fix and be doe with it and not worry about the next price rise and the next etc, I can have 2yr not worrying, although admittedly might come as a shock if prices do rise again next year coming from these prices to potentially much higher but as you say, all a gamble as no one knows atm and no one knows what the Oct. budget will bring.

Kev

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