New dual fuel rates advice sought

Columbine62

Following advice given to me on another forum, I'm posting some information about my current energy deal, so that someone with a better grasp on these things than me can give me an idea of what my costs are likely to be after the April cap rise.

My current supplier is Octopus.  The contract end date is 3rd May, and there are no exit fees.
Electricity : unit rate = 15.60p/kWh, standing charge = 22.79p/day.  Estimated future annual consumption = 2301 kWh
Gas : unit rate = 2.81p/kWh, standing charge = 24.63. Estimated future annual consumption = 6947 kWh
Current DD payment = £75/month.  I am presently in credit by a little over £300.

I expect my actual consumption to be somewhat lower; those figures are based on the last year or two, which have been atypical, as I have hardly been away from home at all, whereas normally (which hopefully we're going to get back to soon) I'm away from home for 3 to 4 months out of an average year, and therefore there is no gas consumption, and minimal electricity during those periods.  

I have been proposed either a 2-Year Fix and Protect Plan, with a monthly DD of £186 (at present), or the standard variable rate, currently at £78.  With a gas unit rate of 4p/kWh on the flexible plan, and my gas usage being substantially more important than electricity, I'm inclined to revert to the flexible rate, but I'd like to know what that DD is likely to become, and if anyone has any guesses about what's likely to happen in October, when the cap is reassessed again.

Thank you.

BUFF

Columbine62 said:

  With a gas unit rate of 4p/kWh on the flexible plan,

come April 1 I think that you will find that jumps to over 7p (& potentially higher again in October). If you can say where you are then people will be able to access exact unit rates & standing charges for your area (it varies).

QrizB

Columbine62 said:

My current supplier is Octopus.  The contract end date is 3rd May, and there are no exit fees.
Electricity : unit rate = 15.60p/kWh, standing charge = 22.79p/day.  Estimated future annual consumption = 2301 kWh
Gas : unit rate = 2.81p/kWh, standing charge = 24.63. Estimated future annual consumption = 6947 kWh

Based on 2301kWh/yr of electricity and 6947kWh/yr of gas, your annual bill on a capped variable rate from April will be £1430, £119/month.

No-one has any real idea about the rates in October.

Columbine62

BUFF said:

Columbine62 said:

  With a gas unit rate of 4p/kWh on the flexible plan,

come April 1 I think that you will find that jumps to over 7p (& potentially higher again in October). If you can say where you are then people will be able to access exact unit rates & standing charges for your area (it varies).

At the moment that's still going to be cheaper than the 14-15p they're quoting for the fixed price plan. I'm in Glasgow, btw. 

BUFF

I would like to say that they are having a laugh at those prices but the reality is that nobody knows where prices are going ...

I'm in Glasgow, too . & a night owl.