Energy news in general

ariarnia

its going to be interesting to see what the first fixes back on the market look like and if we get a lot happening in the summer or if some/all of the energy companies decide to wait out anther winter for there own reasons. 

we like to fix (we like the certainty vs having to keep track of a tracker or guess about the cap) but there will be that time where the customer has to balance fixing now vs waiting just a little longer to see if a better fix comes along once the flood gates open.

our cheap pre crisis fix ends 1 april so theres a good chance that even if theres a fix as early as july we probably wait a couple of months to september/october time (unless we see something to good to pass up of course) and might only go for 1 year to gamble that things will continue to improve next year. 

JKenH

Energy bills forecast to plunge by £800

The price cap is forecast to fall to £2,165 from July, down from the £3,000 faced from April under the Government’s energy price guarantee, according to Investec.

Household energy bills should stabilise later in the year, with the price cap rising modestly to £2,190 from October.

https://www.telegraph.co.uk/business/2023/02/20/ftse-100-markets-live-news-uk-house-prices-eu-energy/

Mstty

JKenH said:

Energy bills forecast to plunge by £800

The price cap is forecast to fall to £2,165 from July, down from the £3,000 faced from April under the Government’s energy price guarantee, according to Investec.

Household energy bills should stabilise later in the year, with the price cap rising modestly to £2,190 from October.

https://www.telegraph.co.uk/business/2023/02/20/ftse-100-markets-live-news-uk-house-prices-eu-energy/

Indeed the Cornwall insights predictions have been shared several times on this forum.

But never hurts to reinforce this 👍

Let's hope it happens

We are hoping for some decent fixes in the market between July and October next year and the return of competition 

Ballymoney

Does anyone have an estimate for the unit prices associated with a price cap of £2190?

Mstty

Ballymoney said:

Does anyone have an estimate for the unit prices associated with a price cap of £2190?

https://www.cornwall-insight.com/press/winter-2023-24-price-cap-forecasts-fall-further-below-2022-23-epg-but-long-term-prospects-remain-uncertain/#:~:text=The latest forecasts for the,-December (Q4 2023).

michaels

Mstty said:

Ballymoney said:

Does anyone have an estimate for the unit prices associated with a price cap of £2190?

https://www.cornwall-insight.com/press/winter-2023-24-price-cap-forecasts-fall-further-below-2022-23-epg-but-long-term-prospects-remain-uncertain/#:~:text=The latest forecasts for the,-December (Q4 2023).

I assume the Q2 are for the cap not the EPG?

Is there not scope for suppliers to launch a price cap tariff now at say £2500 including Q2 for which they have already hedged at the cap and will get the EPG rebate?  Presumably it would need a hefty break charge as potentially a £2200 fix could be offered starting July.

Would it be popular?  Must say certainty of £2500 compared to 3k April to June followed by unknown but up to 3k thereafter sounds like a good deal to me.

Mstty

michaels said:

Mstty said:

Ballymoney said:

Does anyone have an estimate for the unit prices associated with a price cap of £2190?

https://www.cornwall-insight.com/press/winter-2023-24-price-cap-forecasts-fall-further-below-2022-23-epg-but-long-term-prospects-remain-uncertain/#:~:text=The latest forecasts for the,-December (Q4 2023).

I assume the Q2 are for the cap not the EPG?

Is there not scope for suppliers to launch a price cap tariff now at say £2500 including Q2 for which they have already hedged at the cap and will get the EPG rebate?  Presumably it would need a hefty break charge as potentially a £2200 fix could be offered starting July.

Would it be popular?  Must say certainty of £2500 compared to 3k April to June followed by unknown but up to 3k thereafter sounds like a good deal to me.

Yes Q2 is the expected price cap not EPG adjusted figures to bring it down to £3000 notional average user.

As the energy crisis hit lots were keen to sign up to fixes at the current rates so yes a notional £2200 fix would be appealing to those that want certainty (just the same as people that fix mortgages)

michaels

Thanks

Have the EPG April unit prices been revealed yet? - Presumably they are a bit more than 20% more than the current unit prices as it is the whole bill that is going up by 20%

Gerry1

michaels said:

Have the EPG April unit prices been revealed yet?

Revealed next Monday...

Mstty

Further tinkering with predictions and the cost per kWh from Cornwall insights for Q2/Q3