Just received my energy bill

Northern_Wanderer

EDF informed me of the gas price rises and suggested I should increase my DD but did not give a new DD figure. I'm not due for a DD review until June. Having about a zero balance currently, I am paying £51 a month, I calculate that to be prepared for the October increase, I'd need to start paying £100 into my gas pot each month now.

Find your annual usage, multiply the unit rates x annual usage. Multiply the standing charge by 365. Add the two figures together and then divide by 12 to get your average monthly cost. This is what your monthly DD should be to cover your usage. Any debit or credit on your account can increase or decrease the monthly amount.

If you want to prepare for lets say a 30% increase in October, you may want to start factoring that in now in your own savings or to your energy account. This is what I have done.

Mstty

bettydaviseyes said:

Bill is calculated Oct to 31 March and I was in credit by £33 in October.  I’m on a standard variable rate.  

Thanks for the update it sounds like you are at a good starting point but with the increase in costs April 1st and then the expected next rise in October you may well wish to stay putting some money aside for when October comes along.

I would put aside an extra £50 to lessen the blow and hopefully you will received the £150 council tax rebate if your house is Band A-D (put this away as well if you can) then of course there is the energy loan in October that comes straight off your bill but repayable from Apr 2023 at approx £4 a month.

MWT

keithgawler said:

bettydaviseyes said:

I submitted my meter readings on 1 April and have just received my bill.  I currently pay £104 a month and it says “good news my payments are spot on and on track to cover expected usage”.  Surely this cant be right as I was expecting to pay another £50 odd pounds a month.  Anyone else had the same?

I am with Octopus and they have yet to communicate suggested new DD amount - maybe your supplier has yet to do the same?

Octopus are not necessarily going to try and raise your DD for you as you usually have full control of that yourself.

If you leave it where it is and just make an extra payment when the bill comes in if there is not enough in your account then they will probably let you continue to do that.

If you want to raise your DD to cover the bill then you can do that yourself now, no need to wait.

Section62

comeandgo said:

But the new higher variable rates did not start until 1 st April so you would still be paying that months use on your old rate.

This^.

A lot of the media coverage has misleadingly implied/not been clear that the increases apply to future energy use, not what people have used over the winter just gone.

I wouldn't go as far as calling it scaremongering, but people have been needlessly worried about their energy use over the coldest months of winter by headlines screaming that "bills" are going up 50% (or whatever) in April.

bettydaviseyes

Thanks everyone. Mystery solved - although statement said payments were on track my actual account details show I need to increase my dd to £124 a month to keep on track.  Knew it couldnt  be right!  Thanks.

razord

British Gas statements are weird. They will show your payments are track even if they're not... because they will check every 6 months and email you separately. Essentially, that box on the statement is useless; even if your account says you'll be £600 in debt after the end of your plan, statements will still say you're fine until the 6 month review.

Northern_Wanderer

Section62 said:

I wouldn't go as far as calling it scaremongering, but people have been needlessly worried about their energy use over the coldest months of winter by headlines screaming that "bills" are going up 50% (or whatever) in April.

Of course, we are going into warmer weather so the heating element of our bill will be lower. However, any other normal use is much more expensive from now on, my electric usage is the very similar month to month mostly but the cost is more. Factor in another let's say 30% increase going into next winter, I think people should be scared, and start to plan NOW. I did a spreadsheet just to see how much I should pay, it's eyewatering. If I don't start to contribute to this now I will definately struggle more in the winter.

I'd say it's not so much this winter that will be the problem, unless we have a long cold spell from now into June, but it's next winter that will be very problematic. Please people, don't bury your head in the sand.

Benny2020

Solar panels now starting to make sense even without the FIT scheme.
I am getting a quote for another 4 panels to add to my system.

ODEN33

Benny2020 Im on a journey to having 4 panel before October, my DIY project this yr

QrizB

ODEN33 said:

Benny2020 Im on a journey to having 4 panel before October, my DIY project this yr

You'll obviously take the necessary steps to keep it legal.

With that caveat, there seems to be a decent deal at the moment from Bimble Solar on used 260W panels for £52.99 + VAT (and hopefully VAT will be zero). Four of those plus an inverter, cables etc. could see you in business for £500 or so.

(This is their 1kW grid-tie kit but with the new panels swapped out for used ones, and obviously doesn't include any roof or ground mounts.)