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

MallyGirl

Its such a big hike isn't it? As a high usage household I am very glad I nipped in with a fix in the early part of all the companies going bust - we spent £2500 in 2020 before we all went to hell in a handbasket.

michaels

Sea_Shell said:

You may have read in another thread of mine, but we've just fixed our fuel tariff at the Eon Next V12, as our current cheap fix expires mid April.

Cost (on actual usage) going from £690, to £1700.   April cap would be about £1490.   So we've taken a punt.

Heaven only knows what the October cap's going to be, that's if it's not reviewed earlier than then.

Sounds like a smart move, max cost to you is £210 but assuming any early exit fees are low, you always have the chance to refix lower if prices do return to more normal levels.

We have been 'hamstrung' because our gas has been in limbo for months after our cheap fix which was supposed to get us through this winter company went bust and we are similarly 'locked in' on electricity as we are on a V2G trial and so can't change supplier.  We could fix on electricity but currently it is £1k more than the April cap rate so not too tempting.  Trial lock in ends in June when hopefully we will also be able to move gas as well but what options will be available then...who knows.

I am kind of doubtful that the current cap will even last the whole 6 months as at current gas prices it may result in even the big suppliers going bust if they haven't fully hedged - and then there is the question of who has underwritten the hedges and whether they can afford to supply the gas at the fix prices agreed....

Sea_Shell

It has zero exit fees.

Dizee123

Thanks to the energy board I managed to fix at V10 with Eon Next a few weeks ago starting from 01 Apr.  With no exit fees, it was a no-brainer, and similar no-brainer for you with the version 12 as the world situation has become a lot worse in the last few weeks .  Although the big shock will be going from £106 per month to £182 a month on the direct debit from 01 April, I just remind myself that we still have choices in this country and are not (as yet) facing the risks that those elsewhere are.

I just hope that next winter is as mild as this one has been up till now........

ex-pat_scot

I enjoy being on heating oil.
My last delivery of 1000 litres in mid-Feb was 55ppl. Inc VAT, the full tank was about £600.
I just spotted that today's rate is more than double. £1.30 ish per litre
Domestic Heating Oil Price Chart for England | BoilerJuice
Given our use of about 5,000 litres per year, will mean a huge hike.
Electricity is doubling from £600 per year to just short of £1,200. Small change, in comparison.

SouthCoastBoy

Not sure why people are so animated by heating prices, I think that will be just the tip of the iceberg, lot bigger fish to fry.

Thrugelmir

SouthCoastBoy said:

Not sure why people are so animated by heating prices, I think that will be just the tip of the iceberg, lot bigger fish to fry.

Going to ripple out and impact the broader economy in many ways. 

quirkydeptless

SouthCoastBoy said:

Not sure why people are so animated by heating prices, I think that will be just the tip of the iceberg, lot bigger fish to fry.

Yes, but it's going to get more expensive to fry them!

Bravepants

ex-pat_scot said:

I enjoy being on heating oil.
My last delivery of 1000 litres in mid-Feb was 55ppl. Inc VAT, the full tank was about £600.
I just spotted that today's rate is more than double. £1.30 ish per litre
Domestic Heating Oil Price Chart for England | BoilerJuice
Given our use of about 5,000 litres per year, will mean a huge hike.
Electricity is doubling from £600 per year to just short of £1,200. Small change, in comparison.

My step-sister in North Wales is struggling to find heating oil at the moment.

Sea_Shell

SouthCoastBoy said:

Not sure why people are so animated by heating prices, I think that will be just the tip of the iceberg, lot bigger fish to fry.

I think it's because it is "in your face" more so than other inflationary increases that are more subtle.

People get e-mails saying that their DD has to go up to £XXX, is a bit more of a shock than looking at your weekly groceries receipt and noticing the subtle increases applied.

Also people are genuinely bamboozled by energy bills to the point where they just don't understand what's going on, so are now going into full on panic mode (or bury head in sand mode)

Yes, I do think we are (collectively) heading for an iceberg.    I hope to navigate around it, but there is a risk we'll get holed below the waterline.

In the meantime, lets hope we're not just rearranging the deckchairs.