Are electricity rates likely to go down at all?

googlefast

[Deleted User] said:

googlefast said:

MalMonroe said:

Not according to Martin Lewis. Have a look at this - https://www.moneysavingexpert.com/news/2021/02/energy-bills-to-rise-for-11-million---act-now-to-beat-the-hikes/

The cost of energy doesn't look very pretty for us in the UK right now. . . 

I don't understand, how can prices go from roughly 13p in 2020, to 16p in 2021, I feel bad for people who have to heat their home using electricity.

Still some 12.7 - 12.9p/kwh electricity tariffs about on fixed or variable 17-19p s/c and no exit fees just a click or two away or some 13.6p/kwh on 12p s/c for those with lower consumption.

Where did you find those rates? I spent a few hours looking today but couldn't find anything close to that.

[Deleted User]

googlefast said:

Deleted_User said:

googlefast said:

MalMonroe said:

Not according to Martin Lewis. Have a look at this - https://www.moneysavingexpert.com/news/2021/02/energy-bills-to-rise-for-11-million---act-now-to-beat-the-hikes/

The cost of energy doesn't look very pretty for us in the UK right now. . . 

I don't understand, how can prices go from roughly 13p in 2020, to 16p in 2021, I feel bad for people who have to heat their home using electricity.

Still some 12.7 - 12.9p/kwh electricity tariffs about on fixed or variable 17-19p s/c and no exit fees just a click or two away or some 13.6p/kwh on 12p s/c for those with lower consumption.

Where did you find those rates? I spent a few hours looking today but couldn't find anything close to that.

Citizens advice comparison tool or MSE energy club have these:

Symbio energy - 12.710p/kwh / 16p s/c variable no exit fee or 12.785p/kwh fixed 12 mth £30 early exit
Neo Energy 12.999p/kwh 19.9p s/c variable no exit fee
Neon Reef 13.665/kwh 12.11p s/c variable no exit fee or 13.711p/kwh fixed 12 mths £36 early exit

Might be slightly different depending on where you live, those are from a Manchester based location.

Petriix

Electricity prices are weirdly high due to a number of factors. I suspect some of these will smooth out over the coming months and the extremes will pass as the temperature increases and solar output climbs. Lower wholesale prices will probably not lead to much cheaper customer prices as the likelihood of future peaks will remain embedded in the future market prices. However I strongly expect some slightly cheaper deals to pop up in the spring.

worrywart_3

[Deleted User] said:

googlefast said:

[Deleted User] said:

googlefast said:

MalMonroe said:

Not according to Martin Lewis. Have a look at this - https://www.moneysavingexpert.com/news/2021/02/energy-bills-to-rise-for-11-million---act-now-to-beat-the-hikes/

The cost of energy doesn't look very pretty for us in the UK right now. . . 

I don't understand, how can prices go from roughly 13p in 2020, to 16p in 2021, I feel bad for people who have to heat their home using electricity.

Still some 12.7 - 12.9p/kwh electricity tariffs about on fixed or variable 17-19p s/c and no exit fees just a click or two away or some 13.6p/kwh on 12p s/c for those with lower consumption.

Where did you find those rates? I spent a few hours looking today but couldn't find anything close to that.

Citizens advice comparison tool or MSE energy club have these:

Symbio energy - 12.710p/kwh / 16p s/c variable no exit fee or 12.785p/kwh fixed 12 mth £30 early exit
Neo Energy 12.999p/kwh 19.9p s/c variable no exit fee
Neon Reef 13.665/kwh 12.11p s/c variable no exit fee or 13.711p/kwh fixed 12 mths £36 early exit

Might be slightly different depending on where you live, those are from a Manchester based location.

I decided to go with neither both when applying service and with the amount of companies going under right now I’m dubious 🤨 symbio you can’t even contact by phone 

dogshome

Check ' Nord Pool' which is the European wholesale auction market for Electricity - Since January 2020 Elec prices have risen by 63% or more

My belief is that this is due to Covid - With so many businesses shut down the generators have raised prices to cover their overheads on the reduced amounts they do sell - The outlook for recovery in GB looks hopeful, but Nord Pool prices are bases on the whole of Europe