How are such large increases justified?

schiff

I got a good deal about this time last year via MSE with SoEnergy's so-called Artichoke tariffs. I am approaching renewal time. The offer SoEnergy has made me - which is comparable to the wider market - has these increases:
Gas unit up 46%
Gas per day up 20%
Electricity unit up 34%
Electricity per day up 5% (and acceptable)
The current wave of increases plus the effect of my good deal last year will have had an appreciable effect but the figures have really shocked me.
What experience are other people having when renewing? 

QrizB

What were your old rates, in p/kWh and p/day? And what have SO Energy offered for renewal? Fixed or variable?

I'm looking at maybe a 15-20% increase when renewal comes around.

JJ_Egan

Yes prices up more so on electric but not the vast amounts OP is claiming .

Standing charges have looked at few low price . But not relevant to total cost .

Justified usually by the regulatory body .

macman

OP,are you quoting unit kWh increases, or higher monthly DD estimates? If the latter, they are purely that: estimates.

niktheguru

schiff said:

I got a good deal about this time last year via MSE with SoEnergy's so-called Artichoke tariffs. I am approaching renewal time. The offer SoEnergy has made me - which is comparable to the wider market - has these increases:
Gas unit up 46%
Gas per day up 20%
Electricity unit up 34%
Electricity per day up 5% (and acceptable)
The current wave of increases plus the effect of my good deal last year will have had an appreciable effect but the figures have really shocked me.
What experience are other people having when renewing? 

What’s there to understand? The price of wholesale electricity and gas has doubled on last years prices…..these increases are being passed onto the customers. It’s rubbish, but it’s not the utility companies maximising profits, it’s them facing increasing costs.

btr30

I joined People’s Energy in Dec 19 and was paying around 10.5p/KWh.
m
Moved to Symbio in Dec 20 and on 12p KWh. Was checking for a relative recently and norm was around 16p/KWh, so around 60% increase in 18 months.

Reasons include costs of smart meter rollout, funding environmental revolution, maintaining revenues due to price cap, and more sustainable pricing after a number of supplier failures, before you even get to increase of wholesale cost.

if the government are serious about tackling climate change, then cheap energy is a thing of the past as people will be more inclined to save energy when it is expensive, and invest in low energy technologies.
Unless you are going to go off grid, you can only shop around for the best deal available, but it won’t be at levels we have previously been used to.