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

Solomon Grundy

Distinguished Member
That’s fairly high usage.. almost twice mine and I thought I was a heavy user. Family of 4 with teenagers.
Do you crypto mine or just a very busy household?
Maybe you’ll be looking around £600 odd on a flexible. You’ll have to break down your electricity from your gas and then do some maths using numbers below (this is octopus… your supplier willl probably be different)

View attachment 1679827
Just a busy household with 2 teens on laptops/PlayStation plus we both work from home so have 2 laptops and monitors on the go all day
 

caz2005

Well-known Member
Think I'm going to sign up to Ovo Energy today. Fixed tariff 2 years £298pm. Compared to Scottish Power £490pm!!!
 

depot

Well-known Member
Think I'm going to sign up to Ovo Energy today. Fixed tariff 2 years £298pm. Compared to Scottish Power £490pm!!!

You would paying more than the capped rate about 10p per kWh electric and 5p per kWh for gas, that might be what it will be with next September’s rise, but it’s all a gamble
 

caz2005

Well-known Member
You would paying more than the capped rate about 10p per kWh electric and 5p per kWh for gas, that might be what it will be with next September’s rise, but it’s all a gamble
True but I can't afford to gamble right now. If it goes down, bummer. But if it goes up again, I think that'll break us.
 

depot

Well-known Member
True but I can't afford to gamble right now. If it goes down, bummer. But if it goes up again, I think that'll break us.
You should be paying less to Scottish power than you will be paying to ovo, if you’re on the capped rate, a fair few power suppliers have been raised peoples direct debits more than they should be.
 

caz2005

Well-known Member
You should be paying less to Scottish power than you will be paying to ovo, if you’re on the capped rate, a fair few power suppliers have been raised peoples direct debits more than they should be.
I'm a new customer as I've just moved in to my first house. So it's either variable and gamble it doesn't go up or a new fixed tariff with whoever. SP pm were way higher than OVO.
 

depot

Well-known Member
I'm a new customer as I've just moved in to my first house. So it's either variable and gamble it doesn't go up or a new fixed tariff with whoever. SP pm were way higher than OVO.
Then it might be worth fixing, hopefully you won’t use a lot of gas over the summer, and next September you could be the lucky one, what I’ve read varies between 25% and 50% raise next September. You can always pay the exit fee and leave if it doesn’t suit you later.
 

neilball

Well-known Member
While no one has a crystal ball, there are energy experts starting to suggest that even if the price cap does not rise again after October (and under the current methodology for calculating the price cap it definitely will rise substantially again in October 2022 unless the government interven with some sort of support scheme to limit these latest rises), then the high prices are likely to last for 2-3 years, so it would seem unwise to be budgeting for prices to drop for quite some time to come.
 

TheHighFlyingBirds

Distinguished Member
I'm fixed until beginning of July, so had a look at the default variable rates with eon-next (my current supplier). I have calculated how much it'll cost me based on last years usage and current rates and then calculated my monthly cost. I will do the same with this years usage closer to the time. Then I will be able to see if they try ripping me off with far higher monthly costs than needed.
 

Indiana Jones

Moderator
My fixed rate ends at the end of May and god damn that standing charge increase is eye watering, currently 8p which will increase to 51p :eek:

I live alone and currently pay about £40 per month for both electricity and gas and the renewal email I got through is offering to put me on the variable one which will be £75 a month or a fixed rate one for £95 a month.

Unsure whether I should try and lock in a year given the increase that will come in October or whether I should just go with variable and weather what comes.
 

lee667

Distinguished Member
My fixed rate ends at the end of May and god damn that standing charge increase is eye watering, currently 8p which will increase to 51p :eek:

I live alone and currently pay about £40 per month for both electricity and gas and the renewal email I got through is offering to put me on the variable one which will be £75 a month or a fixed rate one for £95 a month.

Unsure whether I should try and lock in a year given the increase that will come in October or whether I should just go with variable and weather what comes.

It's a tough one because if you fix until May/June next year you'll have the October inevitable price increase and possibly an increase next April so potentially the shock could be even more.

My fixed deal is up in July, I think I'm going to stay variable and see what happens with the Ukraine situation.

At the same time I'm going to try and educate my family to be more eco friendly with regards to electric consumption and train them to switch things off fully when not in use.
 

neilgad

Standard Member
We have an Eon clamp on energy monitor. It seems to read about 10% under, but a useful guide to consumption.
 

Lee

Moderator
At the same time I'm going to try and educate my family to be more eco friendly with regards to electric consumption and train them to switch things off fully when not in use.
Until recently I hadn't noticed that even when the TV is switched off it still charges something that is plugged into the USB port so the TV is now unplugged when not in use.
 

TheHighFlyingBirds

Distinguished Member
It's a tough one because if you fix until May/June next year you'll have the October inevitable price increase and possibly an increase next April so potentially the shock could be even more.

My fixed deal is up in July, I think I'm going to stay variable and see what happens with the Ukraine situation.

At the same time I'm going to try and educate my family to be more eco friendly with regards to electric consumption and train them to switch things off fully when not in use.
Im in the same boat, fixed deal ending in July. So will probably just go onto the variable for a bit whilst keeping an eye on any fixed deals. Whilst also trying to stop the mrs and little one putting on the electric fire or heater, and inform them of this invention called a jumper.
 

domtheone

Distinguished Member
Just had our Gas contract renewal letter arrive at work. With British Gas currently but probably not for much longer.

Their fixed rate offer for the next year (compare to last) is up by 612%:eek::eek::rotfl::rotfl::rotfl:
 

Miss Mandy

Moderator
Did my meter readings at the weekend so that I got a bill for a full month on the new prices. It’s wasn’t as bad as I was expecting, but it is a summer bill so I’m sure it‘ll be worse once the heating goes back on in the winter.
I compared my bill to May of last year which had very similar figures in terms of usage and it’s around £20 higher. That’s roughly £15 on electricity and £5 for gas.
My total bill came in at £70 so I need to increase my direct debit from the £51 I’ve been paying. I’ll probably put it up to £70 or something which is still just about affordable and much better than the fixed rate of £114 a month that my supplier offered me. :eek:
 

domtheone

Distinguished Member
Anyone work for a company (so commercial rates) and getting less than 9p on Gas and 30p on Electric of late?

Still triple and double what we were on but struggling to find much better.:(
 

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