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

Keith_F

Doc_N said:

ronlakin said:

British Gas offered me the following yesterday (24 August 2022)
Exclusive Fixed Energy V25. This is a 12 month contract and does have an exit fee of £100 per fuel.

Electricity 
Standing Charge 28.40 p/day - a reduction of 16.35 pence per day
Unit Price 65.455 p/kWh - an increase of 37.83 pence per kWh

Gas
Standing Charge 24.48 p/day - a reduction of 2.72 pence per day
Unit Price 19.419 p/kWh - an increase of 12.14 pence per kWh

How this will affect your bill if you are a British Gas customer will vary depending on your usage.
Taking 'typical' household usage from Cornwall Insight's website of 12000 kWh Gas per annum and 2900 kWh Electricity per annum I calculate this equates to an increase of a fraction over 128%

Same offer here. It worked out at around that level of increase for me too. Once you get past a certain level of usage it’s the increase in the charge per kWh that really matters, and the drop in the standing charge makes little overall difference because the amounts become much smaller as a proportion of the total.

I won’t be taking them up on their greedy offer, which, incidentally, has increased by around 30% in the last month from their Exclusive Fixed Energy v20! 

I’m just not convinced that gas prices are going to continue to rocket as some predict. The Telegraph article above makes very interesting reading about an alternative scenario.

Gas futures up to over 600 per therm today, a new record high.
This isn’t going to get sorted any time soon, Putin will see to that. 

Doc_N

Keith_F said:

Doc_N said:

ronlakin said:

British Gas offered me the following yesterday (24 August 2022)
Exclusive Fixed Energy V25. This is a 12 month contract and does have an exit fee of £100 per fuel.

Electricity 
Standing Charge 28.40 p/day - a reduction of 16.35 pence per day
Unit Price 65.455 p/kWh - an increase of 37.83 pence per kWh

Gas
Standing Charge 24.48 p/day - a reduction of 2.72 pence per day
Unit Price 19.419 p/kWh - an increase of 12.14 pence per kWh

How this will affect your bill if you are a British Gas customer will vary depending on your usage.
Taking 'typical' household usage from Cornwall Insight's website of 12000 kWh Gas per annum and 2900 kWh Electricity per annum I calculate this equates to an increase of a fraction over 128%

Same offer here. It worked out at around that level of increase for me too. Once you get past a certain level of usage it’s the increase in the charge per kWh that really matters, and the drop in the standing charge makes little overall difference because the amounts become much smaller as a proportion of the total.

I won’t be taking them up on their greedy offer, which, incidentally, has increased by around 30% in the last month from their Exclusive Fixed Energy v20! 

I’m just not convinced that gas prices are going to continue to rocket as some predict. The Telegraph article above makes very interesting reading about an alternative scenario.

Gas futures up to over 600 per therm today, a new record high.
This isn’t going to get sorted any time soon, Putin will see to that. 

Possibly.  But the author of that Telegraph piece takes the view that current prices are overblown and explains why.

Prices can fall as fast as they can rise,  and it's anybody's guess whether he's right or not. But he argues a good case.

We shall see, won't we.

gav2000

Hi. I posted a while back and some people gave me some kind advice not to take this tariff in July. It seems to still be available to me. Would it be wise to take it considering rises that might come now?

PK_London

gav2000 said:

Hi. I posted a while back and some people gave me some kind advice not to take this tariff in July. It seems to still be available to me. Would it be wise to take it considering rises that might come now?

Personally, I think that's the best deal I have seen available today so far but see what others suggest.

Mstty

With 4 months to go til the expected January price cap increase its very difficult to say whether of not to take a deal unless you know you down to the kWh usage between now and dec31st as well as you usage from Jan 1st.

debjay

gav2000 said:

Hi. I posted a while back and some people gave me some kind advice not to take this tariff in July. It seems to still be available to me. Would it be wise to take it considering rises that might come now?

Have you put the figures into the MSE should I fix calculator? Are there exit fees?

Gillaroo

I'm ever hopeful that OVO honour the tariff fix I was offered in June by SSE before they switched me across but I'm not holding my breath as I've now been told the overseas call centre staff and manager should not have given me the guarantee of that deal. I asked for it in writing at the time but was told it would be recorded on the call and that's all I needed. Guess what... UK cannot listen to overseas recorded calls!! Case has now been escalated and I have a feeling I'll be offered either a one or two year fix that was available when I made the call in June. Should I take that (Electric 37.04 per kwh and 45.88 standing charge. Gas 10.72 per kwh and 26.21 standing charge - 2 year fixed), go onto the cap or dig my heels in and demand they honour what was said in the call? Any advice very much appreciated. Current deal ends at the end of September.

wd300956

Ive been offered 12month fix with Octopus/Co op energy fixed Loyal 12M

Daily standing charge	49.38p /day
Unit rate	68.80p /kWh
Early exit fee	£0

🔥 Gas

Daily standing charge	27.22p /day
Unit rate	18.70p /kWh
Early exit fee	£0

PK_London

The new cap seems to be 52p/kwh and the new fixed rates all seem to be in the high 60s. I fixed 2 weeks ago at 52p/kwh but my price kicked in immediately so I'm paying a lot more than the current cap 28p/kwh for 6 weeks but should be better off before the  new January rates kick in when I expect the price will be over 70p/kwh

I would suggest people who are coming off a low fix or on the cap should stay on the price cap. You'll benefit at the current 28p/kwh until the end of September and be paying 52p until the end of the year. I image prices will peak around January around 70p kwh and raise a small amount in April before coming down in the summer.

Unless you can get a fix at 60p or below I dont think the future fixes will be worth signing up to - but that is just my humble opinion.

pochase

PK_London said:

The new cap seems to be 52p/kwh and the new fixed rates all seem to be in the high 60s. I fixed 2 weeks ago at 52p/kwh but my price kicked in immediately so I'm paying a lot more than the current cap 28p/kwh for 6 weeks but should be better off before the  new January rates kick in when I expect the price will be over 70p/kwh

I would suggest people who are coming off a low fix or on the cap should stay on the price cap. You'll benefit at the current 28p/kwh until the end of September and be paying 52p until the end of the year. I image prices will peak around January around 70p kwh and raise a small amount in April before coming down in the summer.

Unless you can get a fix at 60p or below I dont think the future fixes will be worth signing up to - but that is just my humble opinion.

Todays predictions by both Auxilione and Cornwall insights are more in the region of 80p for January, and 90p to 110p for April.