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

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)

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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
 
Think I'm going to sign up to Ovo Energy today. Fixed tariff 2 years £298pm. Compared to Scottish Power £490pm!!!
 
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
 
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.
 
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.
 
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.
 
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.
 
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.
 
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.
 
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.
 
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.
 
Anyone using a meter of sorts to monitor their usage? Seen ones that clamp to a cable near the meter but no idea how accurate they are.
 
We have an Eon clamp on energy monitor. It seems to read about 10% under, but a useful guide to consumption.
 
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.
 
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.
 
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:
 
Their fixed rate offer for the next year (compare to last) is up by 612%:eek::eek::rotfl::rotfl::rotfl:
Rises like that should be reported in Teleprinter style: 612% (Six Hundred and Twelve Percent) ....
 
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:
 
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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Before and after :(
 
I'd diarised Wednesday as the date by which Octopus had to send me my new tariff offer. Sadly, they managed to do that yesterday.

And, it's actually pretty crap. But, it is what it is.

It retains my cheap overnight EV charging (7.5p up from 5p) but raises my peak kwh rate from 16p to 35p. Standing charge is also horrible, but, there's no choice about that.

The "estimate" is the annual electric will be £1600, not terrible. But the variable rate (which has a higher off peak but slightly lower peak) would be £1200.

So, now the maths of what it would actually be to pay more for EV charging and less for other stuff. The peak rate on variable is 30p.

But, the thing is, while the variable looks attractive, the fixed is fixed. We will have gone through two more reviews by next August. So, given the £400 Government reduction, I think I will take the fix and leave my gas variable
 
We have a fixed price tariff with Scottish Power predating the fuel crisis and have been paying £120 per month for both gas and electricity. This tariff expires the end of August this year, I've had a look on the SP account for an idea of what they offer on a fixed which is £366 per month; does this seem to be a normal amount to pay post increases and would just going on a variable rate be cheaper?
I knew an increase was on the way but not triple the existing.
 
We have a fixed price tariff with Scottish Power predating the fuel crisis

I knew an increase was on the way but not triple the existing.
You missed a few increases hence the shock to the system.

would just going on a variable rate be cheaper?

You need your yearly usage, current capped price rates for your region and a fudge factor of about 35-45% to see if a fixed is worth it.
 
The best thing I did was replace an out of date boiler system that was 20 years old with a modern one. Bills dropped substantially. Currently on a flexible tariff around £150 a month (4 bed house) but suppliers would like to increase to £330 based on last years winter usage. I’ve dropped my usage down recently and will be taking care this winter with jumpers etc before just turning the heating on. Going to keep at £150 a month with £300 in storage and deal with winter increases when we get there.
 
The best thing I did was replace an out of date boiler system that was 20 years old with a modern one. Bills dropped substantially. Currently on a flexible tariff around £150 a month (4 bed house) but suppliers would like to increase to £330 based on last years winter usage. I’ve dropped my usage down recently and will be taking care this winter with jumpers etc before just turning the heating on. Going to keep at £150 a month with £300 in storage and deal with winter increases when we get there.
I suspect that's what we will be doing. I had a smart wireless thermostat fitted last winter as the old one's display failed and started titrating the temperature and run times down.
 

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