Quite a big increase in rates since last time I switched

bailey_uk

For the last several years or so I seem to of found a cheaper deal than previous, or being very close but this year I am shocked to see such an increase!
Is because last years switch was such a good deal?
Gas


Elec


If I search just big suppliers, the cheapest is an additional £134 per year (£1604 for the year in total) 
I have 50 days left of this tariff so will keep checking the comparison site but just wondering if i was just very lucky to get the tariff I'm on now, or has there generally been a sharp rise across the board?

Gerry1

If you restrict your choice to dual fuel from the Big 6 you can expect to pay more.

bailey_uk

Gerry1 said:

If you restrict your choice to dual fuel from the Big 6 you can expect to pay more.

Understood, ive never considered splitting them, is that generally more savvy?

[Deleted User]

Energy prices are increasing. On the 2nd June 20, the wholesale price of gas was 0.906p/kWh. Today, it has reached a high of 1.962p/kWh. Octopus increased its fixed price gas contract yesterday.

The wholesale electric price on the 25th May 20 was 2.258p/kWh and today it is 6.592kWh. 

These are spot prices and suppliers hedge in advance so what we see today will not impact fixed contracts for a few months.

Gerry1

bailey_uk said:

Gerry1 said:

If you restrict your choice to dual fuel from the Big 6 you can expect to pay more.

Understood, ive never considered splitting them, is that generally more savvy?

Yes.

Try it and see. Start with Citizens Advice and 'Switch with Which?'.

Make sure you compare annual costs based on annual kWh consumption derived from actual meter readings.  Ignore all projections and savings claims.

bailey_uk

Gerry1 said:

bailey_uk said:

Gerry1 said:

If you restrict your choice to dual fuel from the Big 6 you can expect to pay more.

Understood, ive never considered splitting them, is that generally more savvy?

Yes.

Try it and see. Start with Citizens Advice and 'Switch with Which?'.

Make sure you compare annual costs based on annual kWh consumption derived from actual meter readings.  Ignore all projections and savings claims.

Yes I know my annual Kwh on both.
For using just big names it clearly works out more expensive to split them.
Slightly cheaper using smaller companies, which atm I am unlikely to do as i have never used a small company before and cant face having a ball ache with two at once!

bristolleedsfan

Dolor said:

 Octopus increased its fixed price gas contract yesterday.

Octopus 12 Month Fixed for new customers via its own website, Gas standing charge has gone up more than 3p per day, kwh rate very marginally , Electricity SC up nearly 1p per day, kwh rate up 3/4 p

Petriix

Anecdotally I've found cheaper prices in the spring. Prices always seem to go up before the winter months where usage is much higher, then good deals start showing up again when it warms up. Maybe find a variable tariff or a fix with no exit fees for the time being.

I totally agree that separate suppliers isn't always a great idea, especially if the savings are minimal. However, you are shooting yourself in the foot by sticking with only the big companies. They are rarely competitive on price and generally don't have great customer service either. 

Brewer20

bailey_uk said:

For the last several years or so I seem to of found a cheaper deal than previous, or being very close but this year I am shocked to see such an increase!
Is because last years switch was such a good deal?
Gas


Elec


If I search just big suppliers, the cheapest is an additional £134 per year (£1604 for the year in total) 
I have 50 days left of this tariff so will keep checking the comparison site but just wondering if i was just very lucky to get the tariff I'm on now, or has there generally been a sharp rise across the board?

You are still paying more per unit than me in a variable tariff with Igloo. Very marginal on the gas I must add, my SC is more though.
I have exhausted the searches (and myself) to better the price I already have to make it worth switching.
As said in one post above, waiting until spring, I'll see if things change in a downward direction price wise but don't expect it may.

bailey_uk

Petriix said:

Anecdotally I've found cheaper prices in the spring. Prices always seem to go up before the winter months where usage is much higher, then good deals start showing up again when it warms up. Maybe find a variable tariff or a fix with no exit fees for the time being.

I totally agree that separate suppliers isn't always a great idea, especially if the savings are minimal. However, you are shooting yourself in the foot by sticking with only the big companies. They are rarely competitive on price and generally don't have great customer service either. 

Yes I am ready this year to try a smaller company for sure!

bailey_uk

Brewer20 said:

bailey_uk said:

For the last several years or so I seem to of found a cheaper deal than previous, or being very close but this year I am shocked to see such an increase!
Is because last years switch was such a good deal?
Gas


Elec


If I search just big suppliers, the cheapest is an additional £134 per year (£1604 for the year in total) 
I have 50 days left of this tariff so will keep checking the comparison site but just wondering if i was just very lucky to get the tariff I'm on now, or has there generally been a sharp rise across the board?

You are still paying more per unit than me in a variable tariff with Igloo. Very marginal on the gas I must add, my SC is more though.
I have exhausted the searches (and myself) to better the price I already have to make it worth switching.
As said in one post above, waiting until spring, I'll see if things change in a downward direction price wise but don't expect it may.

Igloo variable is the only one I am serious about moving too so I am glad you said that, and no exit fees seem a winner until the spring at least. Its suggesting only £30 extra for the year which I am more than happy with.

I see that Igloo has 5 star rating on CEC website, is that the vibe from the general forum on here too?

I have 50 days remaining so no immediate rush atm.