It's time to start digging up those Squirrelled Nuts!!!!

jimi_man

Ah ok, I misunderstood. Apologies, you mean a DC pension payment, got it!

michaels

Talking of inflation, my energy supplier has just gone bust, when I can switch the new tariff will be at least double costing £900 pa more - that would make a pretty big dent in a £15k annual retirement budget.

Sea_Shell

michaels said:

Talking of inflation, my energy supplier has just gone bust, when I can switch the new tariff will be at least double costing £900 pa more - that would make a pretty big dent in a £15k annual retirement budget.

Well yes!!   It's one thing to switch, but that only works if good deals are available.

Our new boiler has halved our (hot water atm) gas usage (with the help of smart meter data), but yes when our deal expires, we are expecting large increases.   

You only have to look at the wholesale price of gas recently...which is 😲😲😲

MallyGirl

scary isn't it - I went on the MSE energy checker and it said I was on the cheapest tariff already but I might look at the fixed version even if it is more.

JoeCrystal

michaels said:

Talking of inflation, my energy supplier has just gone bust, when I can switch the new tariff will be at least double costing £900 pa more - that would make a pretty big dent in a £15k annual retirement budget.

Is it PFP Energy, by any chance? I just told myself that PFP Energy went bust, and British Gas is proud to take over...which is annoying since I moved away from British Gas originally! No thanks to their refusal to change me over to credit meter and that their gas card can only be topped up Payzone location rather than Paypoint which is in my local Co-Op!

cfw1994

JoeCrystal said:

michaels said:

Talking of inflation, my energy supplier has just gone bust, when I can switch the new tariff will be at least double costing £900 pa more - that would make a pretty big dent in a £15k annual retirement budget.

Is it PFP Energy, by any chance? I just told myself that PFP Energy went bust, and British Gas is proud to take over...which is annoying since I moved away from British Gas originally! No thanks to their refusal to change me over to credit meter and that their gas card can only be topped up Payzone location rather than Paypoint which is in my local Co-Op!

I have an Octopus Energy code if you want to join them: we would share £100 😉
Message if interested!

MallyGirl

MallyGirl said:

scary isn't it - I went on the MSE energy checker and it said I was on the cheapest tariff already but I might look at the fixed version even if it is more.

Wow - I just went to look at the prices if I was to fix with current supplier. Gulp!
variable rate:
gas - 3.409/kWh plus 26.3p/day standing chg minus a £15 dual fuel discount
elec - 17.725/kWh plus 26.3p/day standing chg minus a £15 dual fuel discount

fixed for 12m:
gas - 6.46/kWh plus 21.9p/day standing chg minus a £6 dual fuel discount
elec - 24.83/kWh plus 21.9p/day standing chg minus a £6 dual fuel discount

would take my annual bill from £3k to £4.7k. Shows how much they expect prices to rise.
Time to Switch

Sea_Shell

We're already on a fix with Eon until April 2022.   Thankfully.

Heaven only knows what the energy market landscape might look like by then!!

Notepad_Phil

Sea_Shell said:

We're already on a fix with Eon until April 2022.   Thankfully.

Heaven only knows what the energy market landscape might look like by then!!

Ours is only fixed until January and I'm seriously considering getting a new fix even though I'll have to pay a lot more than I'm currently on - I can see a spreadsheet being needed... 

pensionpawn

michaels said:

Talking of inflation, my energy supplier has just gone bust, when I can switch the new tariff will be at least double costing £900 pa more - that would make a pretty big dent in a £15k annual retirement budget.

Seeing this coming I decorated both pitches of my roof (east - west facing) with just over 7 kWs of solar panels 5.75 years ago reducing my electricity charges by 25%, allowing me to switch off gas May - Sep and generate around £1k tax free pa. The increase in tariff is almost a third for me so I'm going to swap out my 26 year old gas boiler next year which should halve my gas import as Sea_Shell experienced. A job for the winter is to re-examine the ROI of a Powerwall which can store all that excess daytime energy for tea time cooking / future EV. Improvements in domestic mini wind turbines are also coming which will help during the darker months. Smart energy is just as much strategy as technology.