What rates are you being offered by your provider at the moment?

Sebi_895

Sorry my bad - you are both spot on, that is variable rate. I have edited original post so not to confuse. Thank you.

pochase

At least in June and July Shell did not offer any fixed tariffs at all, maybe even longer.

On the other hand most fixed tariffs that are offered now are barely worth considering.

Sebi_895

Shell offered me nothing at all! In recent weeks they offered me that varaible rate as my current fixed term is coming to an end. Doesn't leave me with much to go on really.

Planeteer

Octopus Loyal 12m fixed as of today at:
E UR 69.08 SC 31.878
G UR 19.037 SC 27.216
London.

Mstty

Bargain lol @Planeteer

If you are with Octopus have you considered the agile and tracker tariffs capped at 55p for electricity and 16p gas. For Agile you will need a smart meter. 

Doc_N

British Gas are now starting to email their customers on The Green One v4, which ends on 9 October.

This is a summary of the position for our usage, admittedly high - for information, really.  The fixed rate on offer looks outlandish, but the one on offer about a month ago also looked outlandish, and that was 30% lower.

I'm not fixing - far too high a price, and far too many variables. If the new government decides it has no option but to freeze the rate a fix would be disastrous, and I work on the basis that energy companies only offer fixes that are going to guarantee them a profit.  It's a bit like gambling on a roulette wheel where the casino controls the ball as well as the odds.

If this war comes to a surprise sudden conclusion (unlikely, but always possible) energy prices will drop like a stone.  Another factor I take into account in deciding not to fix at these rates.

The 1 April variable rate will increase by around 82% on 1 October and doubtless again on 1 January and 1 April 2023 - but these last two could change dramatically, either way.

	British Gas The Green One v4 ending 9 October 2022		Variable rate 1 April 2022		BG Exclusive Fixed Energy v25  (21/8/22)
Gas unit cost	0.0413		0.0728		0.1942
Electricity unit cost	0.1946		0.2763		0.6545
Gas standing charge daily	0.2371		0.2722		0.2448
Electricity standing charge daily	0.2846		0.4475		0.2694
Gas usage kWh	33000		33000		33000
Electricity usage kWh	4500		4500		4500
Gas usage charge	1362.9		2402.4		6408.6
Gas standing charge	86.5415		99.353		89.352
Gas total cost	1449.4415		2501.753		6497.952
Electricity usage charge	875.7		1243.35		2945.25
Electricity standing charge	103.879		163.3375		98.331
Electricity total cost	979.579		1406.6875		3043.581
Gas and electricity yearly total	2429.0205		3908.4405		9541.533
Monthly cost	£202.42		£325.70		£795.13

PowerSavingMode

 (E.ON Next Energy )
1 Year Smooth Renew v20 as of today at:

E UR 61.54365p per unit SC 41.66p per day
G UR 15.06645p per unit SC 27.22p per day
South East

Approx 219% MORE than current, fixed tariff which ends 17/10/2022 for elec and 02/10/2022 for gas

Planeteer

Mstty said:

Bargain lol @Planeteer

If you are with Octopus have you considered the agile and tracker tariffs capped at 55p for electricity and 16p gas. For Agile you will need a smart meter. 

Thank you, no, I wasn't aware of it, but will try to work out how the ceiling works...thanks again 

Spoonie_Turtle

Planeteer said:

Mstty said:

Bargain lol @Planeteer

If you are with Octopus have you considered the agile and tracker tariffs capped at 55p for electricity and 16p gas. For Agile you will need a smart meter. 

Thank you, no, I wasn't aware of it, but will try to work out how the ceiling works...thanks again 

If the price per unit is below the cap they'll charge the actual price, and if it's above the cap (or indeed 'ceiling' could be a good way to describe it) they'll charge you the capped price, no higher.

Tracker prices change daily, Agile prices change half-hourly.  Originally they were intended to encourage people to use energy when it was cheaper, on a cheaper day (Tracker) or at a cheaper time of day (Agile).  It still could, to an extent at the moment, but if wholesale prices stay high the unit prices will be above the capped rates on the tariffs and it'll just effectively function like a fix.

pochase

Worst case scenario is that you pay a fixed rate of 55p for electricity and 16p for gas for the next 12 month, with the chance of paying less if the market price is cheaper for the day, or in case of Agile, it also depends on the time of day.