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So as we all know, the regulator Ofgem is allowing the energy price cap to increase from 1 April 2022 which is a worry for most of us.
So I thought I would check my Octopus account to see exactly what impact this had for myself.
So I am on there ‘Super Green Octopus 24m fixed may 2021 v1’ so in essence I am protected from fluctuations in the Energy market until the end of my 2 year contract. 2023 (mid) ‘I believe’
What is a little annoying is that this new £350 handout from the Government (good for some) to assist those who’s bills will increase, will for myself not be needed, as it is in essence a loan, repayable over 5 years, there is no option to opt-out .
I do not need the £350 as my tariff is fixed and the money could be more beneficial to other
In a completely sane world, madness is the only freedom (J.G.Ballard).
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The £350 is not as great as one might think.
You only get the £150 as council tax rebate (discount).
£200 is given as a ‘credit’ to your energy bill which is then recouped over the next 5 years at £40 per year.
This is recouped regardless of whether you benefitted from the £200 in the first place. For example from young people who become new homeowners or renters for the first time will pay the extra £40 per year from April 2023.
I deal with energy in a commercial property company I work for. This is essentially like a levy that you have to pay whether you benefitted or not. It is a scam by the UK government.
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Hi all,
Also, I believe the £150 council tax rebate (discount) is only for people in bands A-D.
Also, according to ofgem, these are the new price cap figures (https://www.ofgem.gov.uk/check-if-energy-price-cap-affects-you) :-
Thanks
Kev
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Does look as though for the the next 12 months or so you will be left with little choice but to probable stay with whom you are with at the moment, I remember reading the other day, some utilities companies are not taking on any new customers at present, so times are indeed difficult
In a completely sane world, madness is the only freedom (J.G.Ballard).
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Yes, I staying where I am atm as the move hasn’t fully completed yet, still waiting for my credit to arrive with current provider.
Most comparison site are not providing quotes, at least not as many companies as there was so will see prob next month.
I’m not keen on provider I’m with atm but just sticking with it as cheaper prices atm and waiting for the “switch” to completely fully as it where from SoLR to this provider.
Kev
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That is unfortunate, A fixed Dual Fuel tariff before the price hike kicks in would have been perfect and would have been what I would have opted for (if I had the chance)
I tend to sometimes live life on the edge, but if I was in your situation and given where you live, as we only have a couple more months before the winter is a distant memory, you could stick with what you have currently and then re-evaluate in or around April/May, but prices will increase ……
But that is just my views
In a completely sane world, madness is the only freedom (J.G.Ballard).
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I’m tempted to contact current elec provider and see if they will allow me to add my Gas to existing tariff I have with them, which I could of had on duel fuel but I’m not expecting i can do that tbh.
Worth a Call
Current GAS per kWh is 4.07 and in April rising to 7.37 kWh (ish)
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