Energy Price Rises

[kev2021]

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 or switching suppliers?

Already on fixed tariffs and haven’t run out yet?

I’m currently on a fixed tariff for elec until 2023 so that’s good for me, my gas was also fixed till 2023 but supplier went bust and now I’m with EDF who tbh, I’m not overly impressed with so I’m looking to try and move gas supplier but proving a bit troublesome lol.  Contacted via twitter, got tariff info but no no reply when trying to re-engage chat etc.. phoned them up but no one available via registration to get quotes etc so now in limbo waiting a email with quotes… I’ve emailed yesterday to advise tariff I want and to just move Gas to it and keep Elec as is (Elec already wit them o a fix) but no reply yet…

By my calculation I’d save a couple of quid moving to this supplier which normally I wouldn’t’ do but EDF seem a nightmare, they email to say need a reading by x to get a bill, I give them the ready and they then say bill not due yet, need reading in like 2 weeks time.

Then suddenly I get a bill and it says this is a estimated bill, even though the last reading on the bill is my actual ready? all very odd..

 

Kev

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[UK Sentinel]

We are using Octopus and is fixed (Gas/Electric) until 2023 (July-ish)

Octopus is a great company we have found and worth seeing what they have on offer also ?

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[kev2021]

I did look but it seems you basically have to contact them, the tariff info I could find is higher price unfortunately.  I heard good things from Octopus but just a bit too pricey and seems to show Elec/gas tariff so unsure if would do single gas.

 

Ultimately eventually I’ll prob go dual duel with someone but atm they are out of sync. as Elec will run out 2023 and gas I’ll fix for 2 years as I’ve read online that whilst prices are predicted to come down a bit in 2023, it is likely the savings wont be passed on to us till 2024 so worst case if that’s Jan 2024, I’ve only got to go till June/July – 49 days so wouldn’t be too much hassle so decided to fix for 2 years.

 

When Elec is up next year, I’ll re-evaluate and if it’s beneficial, I’ll pay the exit fee and re-fix both or switch as required but suspect will remain on the 2 years, might just fix Elec for 1 year and go from there.

Kev

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[UK Sentinel]

It is a balancing act I do agree, luckily you Electric was fixed until 2023 – but defo strange you did not opt for dual fuel at the time and split the GAS  / Electric over two different suppliers.

GAS via BULB is another option, and good value so I understand  ?

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[kev2021]

I had gas separate as I went with a small company and the prices were very competitive and I’ve been with them for a few years and they were great.  Admittedly no bells and whistles, a work in progress online login account was being worked on towards the end but i got emails regular each month and was very easy, no hassles at all.

I did toy with fixing my gas and elec with same supplier but existing gas came to a bit cheaper and as they had been fine up till then, I decided to stick with them but turned out the company went bust purely because the company they bought gas off went bust and they couldn’t get it for similar price so they went bust as they couldn’t make it work then due to rice rises etc.

I’ve always found better deal son single tariffs than dual fuel so they have always been separate but now the market has effectively shrunk as most smaller/competitive companies are fewer, I suspect they will all be fairly similar now as no real need to compete much these days they can just all hike the prices. Whereas with smaller companies they had reasons to try be competitive and smaller companies got certain tax breaks etc to help them be more competitive.

 

Kev

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[UK Sentinel]

Not sure if you are still looking for good energy tariff deals – but noticed this today via MSN

Good news if you live near a Wind Turbine

 

Octopus Energy hands lifeline to thousands of Brits with new tariff to SLASH bills in half

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[kev2021]

Thanks, not near any unfortunately.  I’m still trying to get my gas moved supplier, seems they extremely busy and seem to be getting no where BUT they have said they will honour the agreement to put me on the tariff, just feels like its taking forever to get to switching me.. must be 7 or 8 weeks now…. and no word at all…. getting rather annoying tbh… Every time I call/msg etc, they just say they will pass it over as high priority etc but then nothing happens no email, nothing…

Chased today via twitter and still waiting a reply… unfortunately they don’t work weekends, just mon-fri :(

Kev

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[kev2021]

Update – My gas is finally being switched!!!!!!! Lost track of how long it has taken but it must be around 12 weeks or so now…. I missed couple of phone calls other day as was at work busy with stuff, they left a VM but it was just hello etc no mention of who they were calling from etc but after i looked up phone number, one mention supplier I was moving to next day, early hours of the morning I got a message from current supplier saying sorry you leaving us… no email from new supplier etc.  Logged into new supplier and turns out switch is in progress and they want a meter reading and tariff starts tomorrow!…

So i got meter reading today BUT the website wont allow me to submit the meter reading, says is a error so I’m going to call them tomorrow and provide it.

So now its just a waiting game to see IF my fixed rate (which they have honoured and put me on the tariff I originally requested) is going to be more or less than the new rates from 1st Oct. now gov has capped at 2.5k, they not mentioned any specific rates to my knowledge.  I saw some on MSE mentioned about 10.3p for gas and I think my new tariff will be just over 11p BUT the MSE article also said that if you were fixed, the prices would come down meaning no one is paying more than the 10.3 and it may even work out if your fixed, the rate comes down to be cheaper, I saw something about a 30% reduction but waiting confirmation on that.

Also I’ve been given £30 due to them not switching me in the time frame permitted by Ofgem and they have given me another £30 because they didn’t pay me the £30 within it he time frame for now switching me in time so I’m now £60 up (should get it within 5 working days) which just so happens to be my exit fee on the tariff so IF I do want to exit, it effectively wont cost me anything :)

I also got 1 question for them regarding my monthly payments as the price they have put on the welcome email, which shows both my Elec & gas, is the exact figure I pay for my Elec so seems a but too coincidental that the gas will exactly the same as my Elec so I think they have forgotten to add the gas to it so I’m going to check with them as I want to ensure I know what money is going out so can ensure funds are I the account.

Roll on March when have to sort out my Elec, hopefully that will be easier as most small suppliers gone so will likely stick with current supplier for now until things settle down a bit, which i suspect wont be till after 2024.

Kev

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[UK Sentinel]

kev2021 wrote:

the price they have put on the welcome email, which shows both my Elec & gas, is the exact figure I pay for my Elec so seems a but too coincidental that the gas will exactly the same as my Elec

I did think the other day when the new Ofgem price caps where announced and then Energy Price capping was introduced by the Gov, I bet you was not having a good few weeks

Gas and Electric at same rate, does sound too good even if your Gas has been migrated.

Let us know if your fixed rate is higher than Gov cap, as this is interesting as it then should be adjusted down I assume ?

Alas for myself, I am on fixed (gas and Electric) until June next year, so all this is passing me by (I was lucky)

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[kev2021]

Hi,

From my understanding, the Gas is now being fixed at 10.3p for capped tariffs.  My gas is slightly higher (less than 1p) so I’m waiting to see if it gets reduced.  I saw a gov article online saying if your fixed rate was higher then they would reduce it by 4.2p which sounded too good to be true as I’d then be paying around 7-8p per unit which seems cheap, too cheap when the cap was 10.3p BUT I see Martin Lewis has said now he things it will prob just be reduced down to 10.3p but to not change your fixed tariff yet as there is no confirmation on details yet BUT he did say ppl would be allowed to switch out of fixed rate tariffs until Nov for free and not pay the exit charges, which are typically quiet high now in comparison to the usual £30 per fuel.

My switch still looks to be in process as on the website it says waiting for transfer so I can’t edit DD etc yet so still waiting.  Have received final bill from EDF so now waiting for credit to come back into my account, estimated 16th.

Yes, my Elec is fixed till March so that is going to go up significantly I suspect from what I’m paying now, currently thinking I will fix the Elec for 1 year and then after than, try to get both my Elec and Gas on a dual fuel tariff as most of the small competitive companies are no more so its only the bigger companies left and suspect they will all be around the same price, give or take.  So will look around and prob go for a dual fuel with someone at the time rather than separate Elec/Gas.

Kev

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[kev2021]

Also forgot to say i think the standing charge can be up to 28p whereas I’m paying slightly less for the standing charge than 28p so I’m wondering if they will lower by per unit cost to the 10.3p but increase the standing charge to 28p.  Will have to wait and see.  In theory they should leave the standing charge at a bit lower as that isn’t higher and only reduce the per unit cost but will wait and see, not expecting any change s immediately, I suspect they may inform us nearer end of the month for start of October but will wait and see.  No doubt they will ignore it and keep prices the same lol.

Kev

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[UK Sentinel]

kev2021 wrote:

Yes, my Elec is fixed till March so that is going to go up significantly

Expensive times for us all, but hopefully by March, the world stage may have changed for the better

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[kev2021]

Yes lets hope so.

Kev

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[kev2021]

Got my £60 :) It does appear fixed rates will be reduced by x amount or to 10.3p.  For me, it is likely to be 10.3p, however my provider is saying “some fixed tariffs will change” but the government article implies all fixed tariffs will change so waiting to hear more, website says it will update which fixed tariffs will change so waiting to see.  In theory, I should still have 2 options..

1. Remain on this fix and pay rate of the fix which is less than 1p a unit more.
2. Should be able to exit the tariff for free up until Nov according to government advise so will see if that applies to my provider also, if not, they given me £60 so I could still effectively exit and it has cost me nothing :)

My online account still says transferring but it is showing the correct amount for my DD next month, I just can’t view the accounts separately so to speak, I can only add fund to Elec and view the tariffs for Elec & Gas atm.

I think I underestimated the cost my DD should be at but tbh not a big issue as I was going to add some money to my account anyway as I got my credit back from EDF just to cover any additional costs above normal during winter to avoid them increasing my DD hopefully as any excess will be taken from money in the account and not my bank :)

Kev

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[UK Sentinel]

I seem to guess incorrectly every time but I would be tempted for a fixed tariff if at all pos.

Not much help but I did read the other day that Gasprices are dropping, ahead of winter onset.

https://www.theguardian.com/business/2022/sep/01/wholesale-gas-prices-fall-europe-plan-winter-energy-crisis

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