Energy bills from April ‘22 are gonna be huuuge

Bexie1989

I'm so glad I decided last week to just eat the exit fee from my current supplier (I was only two weeks away from being able to switch with no fee, but I didn't want to chance waiting) and fix with British Gas Evolve for their Eco 7 tariff - 22p day rate and 12p night rate. Not sure what the gas was, as I have no gas supply.

This was only a week ago, and prices have gone up a lot again since. BG Evolve are now listing the same tariff as 29p day rate and 18p night rate. So glad I locked in as I'll make back the £30 exit fee quickly with how prices are and I'm at least set for a whole year. I shall miss my current rate of 14.5p day and night, but it could be worse.

I wish my dad had let me switch his as well! I phoned him and asked when I was switching mine. He was already on a variable with E.ON, so no current contract to worry about, he's disabled and housebound and uses a LOT of energy (charging his wheelchair and other electric gadgets that help him, the TV etc is on constantly, when winter hits he has the central heating on 24/7 as he's always at home and feels the cold more) but he said "no, I'll stick with the variable and play it by ear"

Daaaaaaaaaaad! Ugh I should have just done it anyway for him... he probably wouldn't even have noticed!

Bexie1989

Apologies for double post, but there's no way to edit my existing that I can see.

I just checked and my new BG Evolve account is saying my tariff is fixed until Oct 23! I was sure it was only a 1 year fix, but it's actually 2 years! I feel even more relieved now, and even more gutted for my dad... ugh I should have just done it for him...!

Ultrasonic

Bexie1989 said:

Apologies for double post, but there's no way to edit my existing that I can see.

For info. for the future, you can edit posts by clicking on the gear/cog symbol to the top right of each of your posts.

chris1973

We've got Boris' green subsidies to the tune over over £150 per year per household and the cost of those smart meters to pay for yet. Plus I see from the EV forums, we are probably subsidising all of those EV owners with their 5p per K/wh charging tariffs - these are still being offered and promoted.

If Electricity gets any more expensive, i'll be trying to modify my Generator to run on used veg oil and running my peak daytime use from that. Not practical for everybody, but people are going to have to start thinking and become creative to get through what is approaching. Don't expect the Politicians to have a solution or be doing their best for you ,as they aren't Saints or your Mum!.

Verdigris

we are probably subsidising all of those EV owners with their 5p per K/wh charging tariffs

It's 5p/kWh because that the price electricity is in the middle of the night.

Get some home batteries and store 5p stuff for use in the day if you feel you're missing out.

worrywart_3

Verdigris said:

we are probably subsidising all of those EV owners with their 5p per K/wh charging tariffs

It's 5p/kWh because that the price electricity is in the middle of the night.

Get some home batteries and store 5p stuff for use in the day if you feel you're missing out.

How long would it take to pay off the outlay of the batteries aren’t they really expensive ?

tghe-retford

QrizB said:

Article in The Times this morning suggested the recent supplier failures will add £30 to the average annual bill, from April.

Commentators for this Daily Mail article have got the answer - the way we can save £30 from every bill... Confiscate credit balances and evenly distribute responsibility for all the debts accumulated from the failed supplier on all their customers for the administrator to collect under threat of bailiffs and debt collection. A good few commentators thinking that will teach MSE followers who sought the cheapest prices. I've played devils advocate but I don't think I will get anyone to change their mind on that ruinous suggestion. I fear a narrative is being crafted to blame price hikes on cheapskate, reckless customers as opposed to other reasons.

Source (so you can see for yourself): https://www.dailymail.co.uk/news/article-10037089/Families-face-footing-820m-bill-gas-crisis.html

LippyDoodle

Wonder if there are any of these left lying around? 

bagand96

tghe-retford said:

QrizB said:

Article in The Times this morning suggested the recent supplier failures will add £30 to the average annual bill, from April.

Commentators for this Daily Mail article have got the answer - the way we can save £30 from every bill... Confiscate credit balances and evenly distribute responsibility for all the debts accumulated from the failed supplier on all their customers for the administrator to collect under threat of bailiffs and debt collection. A good few commentators thinking that will teach MSE followers who sought the cheapest prices. I've played devils advocate but I don't think I will get anyone to change their mind on that ruinous suggestion. I fear a narrative is being crafted to blame price hikes on cheapskate, reckless customers as opposed to other reasons.

Source (so you can see for yourself): https://www.dailymail.co.uk/news/article-10037089/Families-face-footing-820m-bill-gas-crisis.html

Seems a rather socialist solution for readers of that publication! 

savers_united

I am not so sure, I see a big rise in April but don't see fixed tariffs being anymore than they are today, possibly lower than a fix today.

April will see the worst of the colder weather across Europe pass, other countries like China the same, wind & solar will then reduce the need especially here in the UK for Gas to generate electricity.
Rather than get caught again next winter many countries will look at ways to prevent a recurrence and ultimately become less reliant on Gas producing countries. This is a longer term 5+ year plan but higher prices will focus minds and make the repayment quicker.

So around April time it may be the reverse of now with fixes less than the cap, these fixes will be bought in advance, I. E price of gas over the next 2 years, at the moment they are being pricedabove the daily spot price, so will fall back in the few months.

But as already said the days of cheap (and it has been cheap) G&E are over, I think it will fall back to somewhere between where we were and where we are now.