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Fixed deal
hickorydoc
Posts: 6 Forumite
in Energy
Hi,
My energy company Avro went under a few months ago (with which I was on a fixed deal, which would total £900 for the year based on our last 2-3 yrs meter readings) and I have been placed with Octopus on a variable deal, on the same meter readings this is going to go up to £1275. I've just got a quote from a TOP 6 of £1,474.91 til Feb 2023 OR £1,550.51 til feb 2024 ?????????? SHOULD I ?????
My energy company Avro went under a few months ago (with which I was on a fixed deal, which would total £900 for the year based on our last 2-3 yrs meter readings) and I have been placed with Octopus on a variable deal, on the same meter readings this is going to go up to £1275. I've just got a quote from a TOP 6 of £1,474.91 til Feb 2023 OR £1,550.51 til feb 2024 ?????????? SHOULD I ?????
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Welcome to the forum.hickorydoc said:Hi,
My energy company Avro went under a few months ago (with which I was on a fixed deal, which would total £900 for the year based on our last 2-3 yrs meter readings) and I have been placed with Octopus on a variable deal, on the same meter readings this is going to go up to £1275.That's not unusual; you're paying roughly the same as Ofgem's "typical" customer.Can you tell us your estimated annual consumption of electricity and gas? You'll see the figures on your bill.hickorydoc said:I've just got a quote from a TOP 6 of £1,474.91 til Feb 2023 OR £1,550.51 til feb 2024 ?????????? SHOULD I ?????Can you tell us which supplier that is, and the tariffs you've been offered?N. Hampshire, he/him. Octopus Intelligent Go elec & Tracker gas / Shell (now TT) BB / Lebara mobi. Ripple Kirk Hill member.
2.72kWp PV facing SSW installed Jan 2012. 11 x 247w panels, 3.6kw inverter. 32MWh generated, long-term average 2.6 Os.Not exactly back from my break, but dipping in and out of the forum.Ofgem cap table, Ofgem cap explainer. Economy 7 cap explainer. Gas vs E7 vs peak elec heating costs, Best kettle!0 -
Hi QrizB,
My usage is Gas 1153 Kwh per year and 3674 Kwh of Electricity.
The £1,474.91 til Feb 23 quote is British Gas (not sure which tariff) and the £1,550.51til Feb 24 is EDF on the Feb24v2 tariff, I haven't had time to check t&c's but was surprised they quoted lower than the April cap ?? HMMM Maybe they're in the "know" and are confident the Wholesale gas price is going to come down ???????0 -
hickorydoc said:Hi QrizB,
My usage is Gas 1153 Kwh per year and 3674 Kwh of Electricity.
hi @hickorydoc is 1153 your annual Gas usage in kWh or is that your 12 month meter reading?
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hickorydoc said:My usage is Gas 1153 Kwh per year and 3674 Kwh of Electricity.If your gas use was 7753kWh the total cost would be £1265, close to the £1275 you're quoting.On the April cap, 7753kWh/yr of gas and 3674kWh/yr of electricity will cost about £1880.N. Hampshire, he/him. Octopus Intelligent Go elec & Tracker gas / Shell (now TT) BB / Lebara mobi. Ripple Kirk Hill member.
2.72kWp PV facing SSW installed Jan 2012. 11 x 247w panels, 3.6kw inverter. 32MWh generated, long-term average 2.6 Os.Not exactly back from my break, but dipping in and out of the forum.Ofgem cap table, Ofgem cap explainer. Economy 7 cap explainer. Gas vs E7 vs peak elec heating costs, Best kettle!0 -
Hi QrizB,
Sorry mate new to all this, i was confusing the energy prices with the cap ?!? My usage for 20/2/20 to 20/2/21 was Gas 1153 kWh and 3674 kWh of Electricity. 2021 to 2022 were a bit less but I couldn't match dates exactly, Am I right in thinking I won't reach the cap on my usage so best to stay as I am or would either of the above mentioned deals be worth taking ? Its just me and my wife in a 2 bed terraced house.
Thank you for your patience
Jim0 -
hickorydoc said:Hi QrizB,
Sorry mate new to all this, i was confusing the energy prices with the cap ?!?No problems, we were all new once!My usage for 20/2/20 to 20/2/21 was Gas 1153 kWh and 3674 kWh of Electricity.
That's *very* low gas use, even for two people in a 2-bed terrace. Do you heat your house with gas or some other way?
If your figures are definitely correct:- On the current cap, your energy will cost around £1000/yr
- On the new April cap, your energy will cost around £1400/yr
If you can get a fixed-rate tariff costing £1400/yr or less, with a sensible exit fee, it's definitely worth taking. The two you''ve been offered - £1,474.91 til Feb 2023 / £1,550.51 til Feb 2024 - are a bit higher than this but might be worth considering if you need a guaranteed tariff that runs beyond October 2022.N. Hampshire, he/him. Octopus Intelligent Go elec & Tracker gas / Shell (now TT) BB / Lebara mobi. Ripple Kirk Hill member.
2.72kWp PV facing SSW installed Jan 2012. 11 x 247w panels, 3.6kw inverter. 32MWh generated, long-term average 2.6 Os.Not exactly back from my break, but dipping in and out of the forum.Ofgem cap table, Ofgem cap explainer. Economy 7 cap explainer. Gas vs E7 vs peak elec heating costs, Best kettle!0 -
Thanks QrizB,
Yes mate, Gas for Water/Heating and cooking, Its quite a warm house considering its 115 years old but we mainly shower due to being on a water meter. Thanks again 👍0 -
hickorydoc said:Am I right in thinking I won't reach the cap on my usage so best to stay as I am ...Just to avoid any confusion you may still have, the cap is not on your total cost over the year, it is on the kWh and daily standing charge costs, so usage isn't a factor, the cap just limits the tariff rates, not your bill total.It is unhelpful that all the publicity focuses on an annual cost, but that is based on a typical user consuming 2900kWh of electricity and 12,000kWh of gas.As a side note, that is why your very low gas usage has been surprising, out of curiosity, do you have the meter readings for the start and end of the 20/2/20 to 20/2/21 period you mentioned earlier?
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Hi MWT,
I have found 14/2/21 to 15/2/22 meter readings which are
14/2/21. 15/2/22
GAS 04720 05775 = 1055
Electricity 17548 21097 = 3549
Hope this helps
Thanks for your time0 -
If looks like your gas usage is pretty much bang on the 'typical' 12000kWh annual usage figures.
I used the following calculation for your gas kWh - 1055 (your usage) x 1.02264 x 40 / 3.6 = 11,988kWh
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