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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…

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...

Viewing 10 posts - 16 through 25 (of 25 total)
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  • #18156
    UK SentinelUK Sentinel
    Keymaster
    • Replies 8,352
    • The Skipper

    @kev2021 hows the recent changes in Gas Therm price effecting your situation with a new supplier. ?

    Share the knowledge

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

    #26375
    UK SentinelUK Sentinel
    Keymaster
    • Replies 8,352
    • The Skipper

    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

    https://inews.co.uk/news/consumer/energy-prices-will-go-down-when-next-ofcom-price-cap-decision-2023-2534763

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

    #26378
    AvatarSuperhands
    • Replies 128
    • Forum Regular

    Interesting.  I’m still expecting to save considerably on the tracker tariff, but will be keeping a close eye on it

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    #26379
    UK SentinelUK Sentinel
    Keymaster
    • Replies 8,352
    • The Skipper

    It is a tricky decision and will be interesting as to what Octopus energy offer after the announcement ?

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

    #26380
    Avatarkev2021
    • Replies 1,195
    • Forum Addict

    hi,

     

    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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    #26381
    UK SentinelUK Sentinel
    Keymaster
    • Replies 8,352
    • The Skipper

    That 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

    Share the knowledge

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

    #26382
    Avatarkev2021
    • Replies 1,195
    • Forum Addict

    From 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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    #26388
    UK SentinelUK Sentinel
    Keymaster
    • Replies 8,352
    • The Skipper

    I 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/

    Share the knowledge

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

    #26397
    Avatarkev2021
    • Replies 1,195
    • Forum Addict

    Fingers crossed I’ve made the right choice but probably not lol…

    Kev

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    #26398
    UK SentinelUK Sentinel
    Keymaster
    • Replies 8,352
    • The Skipper

    It is like a gambling, risk vs reward

    Share the knowledge

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

Viewing 10 posts - 16 through 25 (of 25 total)
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