› UKTH forums › 🛠️ Life & Stuff › Utilities › Price cap to increase by £693 from April | Ofgem 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...
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UK Sentinel.
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March 8, 2022 at 2:46 pm #18156August 10, 2023 at 5:32 am #26375
Analysts Cornwall Insight are expecting the annual price cap to drop to £1,860.66 for the average household from October – a fall of just over £200. However, they expect the cap to rise again slightly in the first quarter of 2024,
Maybe a good time to switch to a fixed rate tariff to cover the winter months and expected price increases
In a completely sane world, madness is the only freedom (J.G.Ballard).
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August 10, 2023 at 10:20 am #26378Interesting. I’m still expecting to save considerably on the tracker tariff, but will be keeping a close eye on it
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August 10, 2023 at 11:06 am #26379It is a tricky decision and will be interesting as to what Octopus energy offer after the announcement ?
In a completely sane world, madness is the only freedom (J.G.Ballard).
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August 10, 2023 at 5:16 pm #26380hi,
Sorry i missed the msg in March :( Gas price went up when my fix ran out, I’ve now fixed till June 2024 so will see then how things are.
My exit fees have gone up so i doubt it worth me paying to get out of my existing deal so will have to see what things are line in June 2024 and go from there..
Kev
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August 10, 2023 at 8:49 pm #26381That is unlucky in that you will miss the October expected price cap rate reduction.
hope you have a few spare jumpers over the Winter to keep you warm

In a completely sane world, madness is the only freedom (J.G.Ballard).
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August 10, 2023 at 9:05 pm #26382From what i heard, the rate will come down a bit in Oct but not a huge amount, certainly not enough to warranty me paying my total exit fees of £150. My existing supplier is slightly under the price cap now from what I’ve ready, about 1% under so I’m already saving a little in comparison so overall, I think it was a good choice to fix for 1 year but time will tell when the new figures come out in October..
Kev
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August 12, 2023 at 8:29 am #26388I did read this yesterday …
“Ofgem tweeted today: “Fixed-rate energy tariffs have seen a return to the market but check if they are right for you. Prices are still unpredictable and signing up for a fixed rate now might mean you miss out if prices fall in the future.”
https://www.forbes.com/uk/advisor/personal-finance/2023/07/27/energy-market-updates/
In a completely sane world, madness is the only freedom (J.G.Ballard).
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August 13, 2023 at 9:28 am #26397Fingers crossed I’ve made the right choice but probably not lol…
Kev
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August 13, 2023 at 1:51 pm #26398It is like a gambling, risk vs reward

In a completely sane world, madness is the only freedom (J.G.Ballard).
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