Energy news in general

eastcorkram

I'm not sure some of the fixes that have already been done, will even be honoured. Not sure what happens in that case.

artyboy

Mstty said:

@savers_united

I completely disagree. The fix we took and lots of others did here too with Eon Next will save us an estimated £1350 from October 2022 - April 2024(projecting 47p per kWh for electricity). It costs us no more than the current cap from April 2022-Oct 2023.

There are also zero exit fees should a jump become possible to a long term deal. Offering longer term security should the market confirm higher prices for the next xxx years.

Some of this is just down to pot luck of the SOLR process and whether you ended up with Eon,BG, Octopus, EDF etc.

But looking forward I would always look for a fix deal with low to no exit fees and trim the energy use accordingly.

Delaying the inevitable? Or just protecting ourselves for 2 years, saving money to put towards a solar installation and perhaps in 2 years time the landscape may be a little nicer or at least so sunshine on the horizon.

Hi, signed up to comment when I read the post about fixing just delaying the inevitable (not least because I almost spat my coffee out!) - well I'm on a sainsburys tariff which is basically Eon Next as well - ends November 2023, and by my reckoning we'll save well over £10,000 versus being on the cap over that 2 year period.

Yes we're a high usage household, and it will definitely be a shock at the end of next year for sure, but more than happy to delay/save what I can for as long as I can...

Effician

Seems those numbers are already out of date.

https://www.bbc.com/news/business-62380728

pochase

Why are you posting data that is almost a month old?

Here are todays figures


This also answers the questions if VAT is included in the predictions.

Most scary is that April 2023 is not coming down, but has an increase.

Mstty

pochase said:

Why are you posting data that is almost a month old?

Here are todays figures


This also answers the questions if VAT is included in the predictions.

Wrong screen shot lol thanks for correcting 👍

Mstty

(Source Cornwall Insights) thanks @pochase

Best guesstimate price per kWh taking into account £100 yearly standing charge for gas and £170 standing charge for electricity.

Regional variations will apply

Oct 2022

Gas 14.5p kWh

Elec 46.5p kWh

Jan 2023

Gas 15.7p kWh

Elec 50.2p kWh

Apr 2023

Gas 16.3p kWh

Elec 51.9p kWh

Jul 2023

Gas 15.4p kWh

Elec 49.9p kWh

Oct 2023

Gas 15.2p kWh

Elec 47.6p kWh

Average til Oct 2023

Gas 15.4p kWh

Elec 49.2p kWh

pochase

The October prediction is lower than the one posted by Martin on twitter week before last, which was £3500. Also the January is with £3615 lower than some predictions of £3800.

Strangely (at least for me) the increase for electricity against the 8th of July prediction is higher than for gas, 5.12% vs 2.24%.

MattMattMattUK

artyboy said:

Mstty said:

@savers_united

I completely disagree. The fix we took and lots of others did here too with Eon Next will save us an estimated £1350 from October 2022 - April 2024(projecting 47p per kWh for electricity). It costs us no more than the current cap from April 2022-Oct 2023.

There are also zero exit fees should a jump become possible to a long term deal. Offering longer term security should the market confirm higher prices for the next xxx years.

Some of this is just down to pot luck of the SOLR process and whether you ended up with Eon,BG, Octopus, EDF etc.

But looking forward I would always look for a fix deal with low to no exit fees and trim the energy use accordingly.

Delaying the inevitable? Or just protecting ourselves for 2 years, saving money to put towards a solar installation and perhaps in 2 years time the landscape may be a little nicer or at least so sunshine on the horizon.

Hi, signed up to comment when I read the post about fixing just delaying the inevitable (not least because I almost spat my coffee out!) - well I'm on a sainsburys tariff which is basically Eon Next as well - ends November 2023, and by my reckoning we'll save well over £10,000 versus being on the cap over that 2 year period.

Yes we're a high usage household, and it will definitely be a shock at the end of next year for sure, but more than happy to delay/save what I can for as long as I can...

If you think it is going to save you £10,000 over 15 months then you are not a high user, you are in the top 0.1% of domestic energy users and must be using a horrific amount of energy. 

ihatetrump

savers_united said:

Fixing in the current climate is just delaying the inevitable, when your in a fix your often locked out of other fixed products that may be slightly more expensive but offer longer security, when your deal ends the jump can be quite large especially for those who do not monitor prices until their renewel offer comes through. It's all a gamble, working out if I had entered a more costly 2 year fix at the start of all this when Martin advised to stick with the SVT would been better off.

The only real way to offset the rising costs is to cut back but understand that is not always easy and limits to what you can do especially with high standing charges

I couldn't disagree more - quite simply no one knows what will happen - even the largest suppliers didn't have a clue this time last year what would happen - no one has a crystal ball - not even Martin. The big suppliers employ teams of experts to model various scenarios and even they got it wrong last year.

I took a punt last September only because I could see the way things were going with AVRO et al. I was with Igloo at the time and decided to bail on them literally days before they went into administration.

My punt was to go for the longest possible fix BUT only with a supplier who I felt could weather any storm that hit and therefore I wasn't interested in smaller players. My choice was EDF and the fix I got then was 19.02 per KwH for electricity and 3.74p per KwH for gas - fixed until September 2024.Standing charges were 22.63 for electricity and 24.87p for gas. No penalties for switching - but atm you'd have to drag me kicking and screaming to leave!

The sticker shock I will face in October 2024 will be eye watering - unless things change in the meantime.

The purpose of this post is not to gloat, but merely to emphasise that even the largest suppliers with all the tools and resources at their disposal get it wrong - why else would I have been able to get such a ridiculously cheap fixed (and long) tariff from one of the largest suppliers only days before things went so incredibly haywire?

jimexbox

The priorities of my next and final house move have changed drastically over the last few years. It's will be super well insulated with as much off grid capability as possible.