There are no cheap energy tariffs. Message from Martin Lewis about cheap energy prices

[brunation]

can energy companies break a fixed tariff?

Only if they go bust. You have a contract and the supplier is regulated.

 

[JimmyMac]

Only if they go bust. You have a contract and the supplier is regulated.

Excellent!

Must have hit this at the right point then, was paying around £110 to Bulb last year, moved over to Octopus and now pay £130 and its fixed so I might just catch lucky and ride this one out!

 

[brunation]

moved over to Octopus and now pay £130 and its fixed so I might just catch lucky and ride this one out!

I hope you got a referral discount too.

 

[JimmyMac]

I hope you got a referral discount too.

yup, used the referral codes here

 

[oneman]

can energy companies break a fixed tariff?

I'm on a 24 month fixed with octopus until october 2023 and its nice and low at the moment. Comparing what I could get if I had to switch and it doubles so i'm hoping that I can sit tight on this fixed rate for at least the next couple of years

There probably is a clause that they can by given enough notice. But I would sit tight if you can

 

[JimmyMac]

There probably is a clause that they can by given enough notice. But I would sit tight if you can

I did wonder if they would at least have a force majeure part of the contract but looking at it I cannot spot anything

11. Changing the Contract​

11.1 We can change the terms of your Contract at any time, which may include situations where it is necessary for us to comply with any laws, or other rules that we are obliged to follow.

11.2 We will inform you of any changes and the latest copy of our Terms and Conditions will be available on our website.

11.3 We will not change the prices applicable to your Contract while you are on a Fixed Rate Tariff.

11.4 If we propose to make changes to your Contract that are not to your advantage (including increasing charges or changes to a Time of Use Tariff formula that results in higher charges) we will give you reasonable notice of the changes. If you do not agree with the changes, you can switch to another supplier or end this Contract and start a new Contract with us without penalty. This does not apply at the end of a Fixed Rate Tariff, where clause 13 will apply, or if we change your payment method in accordance with your Contract.

 

[mikej]

Glad I see this thread, we are with Octopus, just done a reading and sent it in to Octopus. Just called them, currently pay £250 a month for Gas/Elec. We are currently in debt £1990. Just upped our monthly payment to £350.

Detached house 4 bedrooms, underfloor heating down stairs that's on from November to March. Hot tub also, god know what it will be come April.

Wow - that's a lot.... and I was sore about Scottish Power putting my DD up to £144/month ! (4 bed 1970s detached with 1 adult and 2 kids)

Do you know why your bills are so high ? Might be worth doing some investigating to see if there's anything you can do about it. If there's not much to be gained by switching suppliers or tariffs in the future, then reducing our usage might be the best way of keeping the bills down.

From what I gather, hot tub sales have boomed in recent years but people may start to look at them differently once energy prices start to soar. IIRC, it was reckoned a well-insulated hot tub would cost between £1 and £1.50 a day in electricity to run (depending on size) but a cheaper and/or poorly insulated tub could potentially cost 2 or 3 times that, which would take the running costs to over £1000/year... and that's before the impending increase

 

[oneman]

From what I gather, hot tub sales have boomed in recent years but people may start to look at them differently once energy prices start to soar. IIRC, it was reckoned a well-insulated hot tub would cost between £1 and £1.50 a day in electricity to run (depending on size) but a cheaper and/or poorly insulated tub could potentially cost 2 or 3 times that, which would take the running costs to over £1000/year... and that's before the impending increase

Air con is just as bad

 

[domtheone]

£101.76 my Jan bill. £73.53 last Jan. If things don't change it'll be nearer £150 come next year. That's just me (and 2 cats - though they don't use a lot to be fair ) in a 2 Bed Semi.

edit: Could actually be over £200 a month in winter. All their current plan details are double in charges compared to what i pay now (just on a variable rolling rate).

 

[ChrisKz]

Best start investing in Solar panels

 

[neilball]

£101.76 my Jan bill. £73.53 last Jan. If things don't change it'll be nearer £150 come next year. That's just me (and 2 cats - though they don't use a lot to be fair ) in a 2 Bed Semi.

edit: Could actually be over £200 a month in winter. All their current plan details are double in charges compared to what i pay now (just on a variable rolling rate).

I feel your pain - I’m an all electric household and have paid around £1800-£2000 per year for the last 15 years. Right now I’m paying £4000/year on the standard variable rate/price cap after having two electricity companies go bust on me in the last 6 months, but when the 50%+ increase is applied in April this will be £6k/year. Add another 30% in October 2022 (not by any means certain, but already being hinted at), and that could mean my annual electric bill becomes close to £8k/ year!

I use a ground source heat pump for my heating and hot water, and already have a 4kW solar PV system, so the only way to make any significant savings is to just do without power ie no heat/light/power - my property is on the boundary between band A and band B on an energy performance certificate, so is already decently insulated and energy efficient.

I’m lucky that I can absorb these costs, though not without a decent impact on my financial position, but I seriously worry about how anyone who was already under financial stress in the last year or two can cope now with all the cost increases they face. The £200 loan which is to be added to energy bills later this year gets nowhere near helping those in real difficulty just now!

 

[alphaomega16]

50% is taking the **** a LOT

 

[brunation]

I use a ground source heat pump for my heating and hot water, and already have a 4kW solar PV system, so the only way to make any significant savings is to just do without power ie no heat/light/power

What is the actual raw demand in kWh for your house? 18000kWh ?

 

[neilball]

What is the actual raw demand in kWh for your house? 18000kWh ?

My annual usage, excluding EV charging, is 18000kWh per year. Both me and my wife work from home, and I’ve got a teenager who thinks a shower takes as long as there is hot water still flowing!

My house is reasonably air tight (with a heat recovery ventilation system) and sensibly insulated (it’s a self-build that I completed nearly 15 years ago). I’ve got underfloor heating (with insulated concrete screeded floors throughout) with a fully room-zoned smart heating control system. I also have a log burner in the lounge as a backup heat source should we have power cuts - living in the rural scottish borders we can lose power from time to time. Friends who live in the town and who have mains gas, who use 35000kWh of gas heating much smaller houses, and have an electricity usage of about 2500kWh per year.

 

[brunation]

My house is reasonably air tight (with a heat recovery ventilation system)

From your previous posts that is the bit I was struggling with always having assumed you had a house approaching PasivHaus standard.

 

[Deleted member 859633]

I’ve got a combi boiler but haven’t got a clue how to use it. During the day the last week, I’ve just been turning it off but I think it may be the water tank I need to turn off except maybe an hour in the AM and same PM.

 

[oneman]

I’ve got a combi boiler but haven’t got a clue how to use it. During the day the last week, I’ve just been turning it off but I think it may be the water tank I need to turn off except maybe an hour in the AM and same PM.

Strange, you generally wouldn't have a water tank with combi boiler as it hears water on demand, there isn't any storage. If you have a hot water cylinder without a cold water tank in the loft then it's possible you have a system boiler, not a combi.

 

[fozzeh]

Strange, you generally wouldn't have a water tank with combi boiler as it hears water on demand, there isn't any storage. If you have a hot water cylinder without a cold water tank in the loft then it's possible you have a system boiler, not a combi.

I've got a combi boiler but also hot water storage... quite common in new builds now I believe.

 

[Deleted member 859633]

Yeah it’s definitely a combi boiler and a water talk upstairs. Has its own power to turn the hot water on and off.

I’m going to try and keep it all switched off as much as possible but no clue if I’ll see a difference

 

[depot]

Yeah it’s definitely a combi boiler and a water talk upstairs. Has its own power to turn the hot water on and off.

I’m going to try and keep it all switched off as much as possible but no clue if I’ll see a difference

Do you have a timer to switch the heating and hot water on separately ?

 

[Deleted member 859633]

Only for heating not water

 

[oneman]

I've got a combi boiler but also hot water storage... quite common in new builds now I believe.

I've seen combi with integrated storage. Having separate tank dismisses the advantage of only heating water when needed ?

 

[fozzeh]

I've seen combi with integrated storage. Having separate tank dismisses the advantage of only heating water when needed ?

You tell me! Honestly don't see the point but it is the way it is

 

[Deleted member 859633]

This is going to sound stupid but the water tank is heated by the electricity isn’t it and not the gas?

 

[depot]

This is going to sound stupid but the water tank is heated by the electricity isn’t it and not the gas?

Very possible but I think it’s unusual, what boiler do you have, or maybe post a picture of your tank, plus I would have thought your electric bill would be very large