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Yes, i’m sure I saw on BBC site that on 15th budget, they were going to announce to keep the £2.5k limit until July,
Does look promising for the continuation of the ÂŁ2500 cap (energy price guarantee) in the spring budget today
In a completely sane world, madness is the only freedom (J.G.Ballard).
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Yes I believe it was retained till end of June and my understanding was that prices will be lower than the cap from July, but not seen any mention of what the rate will be, seen some rough speculation which implies it comes down in July but goes up slight in Sept but both are below current cap levels so I guess we will need to see.
Kev
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Yes I believe it was retained till end of June
My understanding also, I have budgeted for around ÂŁ2000 in July when I will be looking for a new 12 month contract and so as you say, hopefully price will be optimal at that point before demand increases again August / Sept
In a completely sane world, madness is the only freedom (J.G.Ballard).
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I just finished watching the Martin Lewis show tonight and he was saying that July is when the deals (relatively) will be available and that people paying by direct debit will be offered the better deals, he hinted this is where the competition between suppliers will be, so good for the consumer whom pay by direct debit.
In a completely sane world, madness is the only freedom (J.G.Ballard).
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Thanks, didn’t see the show but sounds good :)Â Fortunately only few months to wait :)
Kev
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I am with Ovo, but will stay on the price cap until July 23.
The forecast is apparently for average prices to fall below £2k. Finally, it looks like some light at the end of the tunnel.
Also, predictions are inflation will fall into single figures soon.
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So had an email from Octopus today telling me that my fixed rate contract finishes next month
Reason for post is that even Octopus are advising that as current cap is ÂŁ2500 for averidge home, I will be rolled onto their Flexible Octopus tariff for the time being.
So sensible advise from Octopus ‘if you read between the lines’ as they know, like we all do that by July – August, the Energy Price Guarantee is likely to be reduced to just over ÂŁ2000 and worth the wait.
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In a completely sane world, madness is the only freedom (J.G.Ballard).
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Hi,
Here is mine for comparison, seems you unit price slightly cheaper but my standing charge is cheaper lol.
Elec charges are:
Unit Price: 33.97p/kWh
Standing charge: 43.64p/kWh
At present, not sure what happens after June 2023, if these will go up/down etc but that’s my existing rate on a variable tariff.
Can’t compare the gas really as I’m on a fixed tariff for that.
Kev
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seems you unit price slightly cheaper but my standing charge is cheaper lol.
Thanks, never a win-win scenario
Role on July to see if Energy Price Guarantee changes
In a completely sane world, madness is the only freedom (J.G.Ballard).
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They could reduce it. But they’re including the costs of not only bailing out the failed energy companies, but also the people who couldn’t or wouldn’t pay their bills. Ofgem decided it was in the energy companies best interest to have everyone pay non-payers bills than have them chase people who owed in the normal ways. They also changed the way they calculate the standing charge to give the companies more margin – it’s scandalous how anti consumer it all is.
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