Energy news in general

Mstty

JoeCrystal said:

Hmm.... 

So basically my electricity bill will go from £44.60 per month to £71.30 per month and my gas bill from £16.12 per month to £25.38 per month (going to be much higher in winter though).

Well as usual pounds and pence mean very little you need to think kWh price in pence and historic usage and then you will know for sure.

pochase

The winner for the price forecast is Cornwall Insights, they were 0.13% to high, while Auxilione missed by 0.76%.

As we don't know yet what other adjustment made this is extremely precise and does not bode well for their other forecasts for next year.

Ofgem does not make any forecast, but warns already about higher prices.

Sea_Shell

pochase said:

The winner for the price forecast is Cornwall Insights, they were 0.13% to high, while Auxilione missed by 0.76%.

As we don't know yet what other adjustment made this is extremely precise and does not bode well for their other forecasts for next year.

Ofgem does not make any forecast, but warns already about higher prices.

Within 1%, is pretty accurate though.   Scarily, looking ahead!

Mstty

They both did well which as stated above is scary.

Our plan whilst on our two year fix is to save as much as possible, clear any debt we have as much as possible so we have as much disposable income come April 2024 and whatever that brings.

Do even though we feel fortunate on our fix we won't be splashing the cash locally or on expensive holidays it's about getting financially ready for a big hit.

JoeCrystal

Mstty said:

JoeCrystal said:

Hmm.... 

So basically my electricity bill will go from £44.60 per month to £71.30 per month and my gas bill from £16.12 per month to £25.38 per month (going to be much higher in winter though).

Well as usual pounds and pence mean very little you need to think kWh price in pence and historic usage and then you will know for sure.

These amounts were based on historical data / kWh. Once I get updated tariffs from BG, I will know for sure!  But I consider myself lucky that I am a low user. I do not envy anyone who got expensive bills.

Wb90

What we’re their predictions 3 months ago? That would be interesting to see.

QrizB

Wb90 said:

What we’re their predictions 3 months ago? That would be interesting to see.

Agreed, it's easy to make an accurate guess at the end of the period. Less so at the start!

Mstty

Remodelled the bedroom for winter

tghe-retford

This isn't a case for many of turning everything off, moving into one room or even multiple people accommodating one house. Things are a lot more serious than that and they won't touch the sides of what is coming by April if the predictions are correct. We've not touched on food inflation, water after a drought and lack of investment, other bills, higher interest rates, escalating rent, reduction in work hours and job losses yet.

But don't take my word for it, if you want an indication of how serious this is, let me quote the founder of this very site:

https://twitter.com/MartinSLewis/status/1563045790121365504

daveyjp

Wb90 said:

What we’re their predictions 3 months ago? That would be interesting to see.

Wouldn't interest me at all.   All that matters is reality and energy cap is now equal to £10 a day, by January it is likely to be £15 a day.

For context my last fix in 2021 was about £3 a day.