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

Mstty

sheffiedsaver said:

Been on Octopus go since August 2021 .  (Gas also with them but luckily fixed until August 2023).

Here is what my renewal looks like for electricity:

Your current Octopus Go prices Peak unit rate: 15.18p / kWh Off-peak unit rate: 5.00p / kWh Standing charge: 25.00p / day Estimated annual cost (electricity only): £1,611.44 We've based your estimate on your historical half-hourly usage pattern - that's 8,887 kWh during Octopus Go peak times and 3,419 kWh during Octopus Go off-peak times.

Your new Octopus Go prices Peak unit rate: 38.82p / kWh Off-peak unit rate: 7.50p / kWh Standing charge: 48.26p / day Estimated annual cost (electricity only): £3,882.42

Flexible Octopus prices Peak unit rate: 29.06p / kWh Off-peak unit rate: 21.54p / kWh Standing charge: 48.34p / day I have gone ahead and renewed as the Flexible prices do not include the October increase yet... Now figuring out how to run waher , dishwasher and dryer in the middle of the night !! Plus need to get that 8887 kWh down ... yes I know its very high ! The 3419 off peak is mainly charging my electric car.

The peak unit rate is still below that expected in October circa 44p then another rise to circa 45p in Jan 2023.

But yes anything you can programme or use a smart timer to use that electricity at 7.5p will be a massive saving.

Maybe even using your electric immersion for hot water during those cheap times as well depending on how hot you like the temp and how many in the household this still might be cheaper by gas but worth having a play with.

ElectricShock136

Based in the South East, currently being offered these tarrifs from EDF. 

The cheaper tariff has £150 from EDF with a code if I sign up. 

Is it worth riding this out and not fixing. I am currently on the standard variable tariff.

Mike360

Hi there. I  would like some advice about whether its worth fixing on the fixed term I have been offered until 1 August 2023 by British Gas.

My current situation on price cap variable rate in East Midlands...

Yearly Electricity  = Usage 2585 kWh, Unit Rate 29.24p, Standing Charge 37.918p, Cost £894.25

Yearly Gas = Usage 8307 kWh, Unit Rate 7.344p, Standing Charge 27.22, Cost £709.42

Fixed prices being offered...

Yearly Electricity= Unit Rate 39.601p, Standing Charge 32.165p, Cost £1141.09

Yearly Gas = Unit Rate 14.265p, Standing Charge 25.576p, Cost £1278.35

----------------------------------------------------------------------------------------------------------------------------------------------------

On initial thought the Electricity fixed price offer may be worth considering as it works out a 28% increase.

The Gas one looks harsh as its an increase of 80%. I had to ring them up and ask if they had any offers for Gas fixed price and this was the best they could come up with.

Is it worth fixing the Electricity one until the August 2023 and let the Gas one ride? Any advice would be appreciated.

Mstty

Mike360 said:

Hi there. I  would like some advice about whether its worth fixing on the fixed term I have been offered until 1 August 2023 by British Gas.

My current situation on price cap variable rate in East Midlands...

Yearly Electricity  = Usage 2585 kWh, Unit Rate 29.24p, Standing Charge 37.918p, Cost £894.25

Yearly Gas = Usage 8307 kWh, Unit Rate 7.344p, Standing Charge 27.22, Cost £709.42

Fixed prices being offered...

Yearly Electricity= Unit Rate 39.601p, Standing Charge 32.165p, Cost £1141.09

Yearly Gas = Unit Rate 14.265p, Standing Charge 25.576p, Cost £1278.35

----------------------------------------------------------------------------------------------------------------------------------------------------

On initial thought the Electricity fixed price offer may be worth considering as it works out a 28% increase.

The Gas one looks harsh as its an increase of 80%. I had to ring them up and ask if they had any offers for Gas fixed price and this was the best they could come up with.

Is it worth fixing the Electricity one until the August 2023 and let the Gas one ride? Any advice would be appreciated.

I think you understand this well. You are right the gas ex expensive but it could be 15p kWh come Jan if the MSE backed Cornwall Insights predictions for the upcoming cap rates come true.

Before it disappears check out the switch and save fixed deal with green energy UK if you fancy a switch away..

https://www.greenenergyuk.com/

Stompa

Mstty said:

Mike360 said:

Hi there. I  would like some advice about whether its worth fixing on the fixed term I have been offered until 1 August 2023 by British Gas.

My current situation on price cap variable rate in East Midlands...

Yearly Electricity  = Usage 2585 kWh, Unit Rate 29.24p, Standing Charge 37.918p, Cost £894.25

Yearly Gas = Usage 8307 kWh, Unit Rate 7.344p, Standing Charge 27.22, Cost £709.42

Fixed prices being offered...

Yearly Electricity= Unit Rate 39.601p, Standing Charge 32.165p, Cost £1141.09

Yearly Gas = Unit Rate 14.265p, Standing Charge 25.576p, Cost £1278.35

----------------------------------------------------------------------------------------------------------------------------------------------------

On initial thought the Electricity fixed price offer may be worth considering as it works out a 28% increase.

The Gas one looks harsh as its an increase of 80%. I had to ring them up and ask if they had any offers for Gas fixed price and this was the best they could come up with.

Is it worth fixing the Electricity one until the August 2023 and let the Gas one ride? Any advice would be appreciated.

I think you understand this well. You are right the gas ex expensive but it could be 15p kWh come Jan if the MSE backed Cornwall Insights predictions for the upcoming cap rates come true.

Before it disappears check out the switch and save fixed deal with green energy UK if you fancy a switch away..

https://www.greenenergyuk.com/

Do you know if Green Energy UK require you to have a Smart meter (or will insist that you get one installed)?

Thanks

QrizB

Stompa said:

Do you know if Green Energy UK require you to have a Smart meter (or will insist that you get one installed)?

To the best of my knowledge, no and no - unless you take their "Tide" time-of-use tariff.

Mstty

Stompa said:

Mstty said:

Mike360 said:

Hi there. I  would like some advice about whether its worth fixing on the fixed term I have been offered until 1 August 2023 by British Gas.

My current situation on price cap variable rate in East Midlands...

Yearly Electricity  = Usage 2585 kWh, Unit Rate 29.24p, Standing Charge 37.918p, Cost £894.25

Yearly Gas = Usage 8307 kWh, Unit Rate 7.344p, Standing Charge 27.22, Cost £709.42

Fixed prices being offered...

Yearly Electricity= Unit Rate 39.601p, Standing Charge 32.165p, Cost £1141.09

Yearly Gas = Unit Rate 14.265p, Standing Charge 25.576p, Cost £1278.35

----------------------------------------------------------------------------------------------------------------------------------------------------

On initial thought the Electricity fixed price offer may be worth considering as it works out a 28% increase.

The Gas one looks harsh as its an increase of 80%. I had to ring them up and ask if they had any offers for Gas fixed price and this was the best they could come up with.

Is it worth fixing the Electricity one until the August 2023 and let the Gas one ride? Any advice would be appreciated.

I think you understand this well. You are right the gas ex expensive but it could be 15p kWh come Jan if the MSE backed Cornwall Insights predictions for the upcoming cap rates come true.

Before it disappears check out the switch and save fixed deal with green energy UK if you fancy a switch away..

https://www.greenenergyuk.com/

Do you know if Green Energy UK require you to have a Smart meter (or will insist that you get one installed)?

Thanks

Not for the fixed tariff no you can send your readings a number of ways

https://www.greenenergyuk.com/meterreadings

andy23

Maybe i should have fixed a week ago (was just outside martins estimated range), as was being offered a deal on British Gas. Given yesterdays' announcement i thought i would check it out again...but greeted with a message.....

Important information about our tariffs

Energy prices are currently so high that we aren't able to offer you a better deal at the moment – so it's best to stay on your current tariff or with your existing energy supplier for now. If you're currently a British Gas customer and your fixed tariff is coming to an end, we'll be in touch to let you know your options. Please come back and check again soon. You can find out more about the energy price increase here.

Debtbegone2022

Hi

I have the following fixed deal offer with Eon, should I take this? I am currently paying £122 a month, this would rise to £162, if I took the below.

Tariff name	Next Loyalty 24M Fixed Rate - June 2022 Issue 2 - Direct Debit Version
Tariff type	24-month fixed-term
Payment method	DIRECT_DEBIT
Unit rate	42.06p per kWh
Standing charge	41.66p per day
Tariff ends on	24 months from start of supply
Price guaranteed until	24 months from start of supply
Exit fees (if you cancel this tariff before the end date)	Not applicable
Discounts and additional charges	Not applicable
Additional products or services included	Not applicable

Assumed annual consumption	2,960kWh
Estimated annual cost	£1,397.30
Tariff Comparison Rate (TCR)	Not applicable

Supply of electricity is subject to 5% VAT: This is included in the prices and costs above, and may mean charges are displayed differently on a statement of account.

About your gas tariff
Supplier	E.ONnext
Tariff name	Next Loyalty 24M Fixed Rate - June 2022 Issue 2 - Direct Debit Version
Tariff type	24-month fixed-term
Payment method	DIRECT_DEBIT
Unit rate	10.36p per kWh
Standing charge	27.22p per day
Tariff ends on	24 months from start of supply
Price guaranteed until	24 months from start of supply
Exit fees (if you cancel this tariff before the end date)	Not applicable
Discounts and additional charges	Not applicable
Additional products or services included	Not applicable

Assumed annual consumption	4,324kWh
Estimated annual cost	£547.23
TCR)

si_74

Debtbegone2022 said:

Hi

I have the following fixed deal offer with Eon, should I take this? I am currently paying £122 a month, this would rise to £162, if I took the below.

Tariff name	Next Loyalty 24M Fixed Rate - June 2022 Issue 2 - Direct Debit Version
Tariff type	24-month fixed-term
Payment method	DIRECT_DEBIT
Unit rate	42.06p per kWh
Standing charge	41.66p per day
Tariff ends on	24 months from start of supply
Price guaranteed until	24 months from start of supply
Exit fees (if you cancel this tariff before the end date)	Not applicable
Discounts and additional charges	Not applicable
Additional products or services included	Not applicable

Assumed annual consumption	2,960kWh
Estimated annual cost	£1,397.30
Tariff Comparison Rate (TCR)	Not applicable

Supply of electricity is subject to 5% VAT: This is included in the prices and costs above, and may mean charges are displayed differently on a statement of account.

About your gas tariff
Supplier	E.ONnext
Tariff name	Next Loyalty 24M Fixed Rate - June 2022 Issue 2 - Direct Debit Version
Tariff type	24-month fixed-term
Payment method	DIRECT_DEBIT
Unit rate	10.36p per kWh
Standing charge	27.22p per day
Tariff ends on	24 months from start of supply
Price guaranteed until	24 months from start of supply
Exit fees (if you cancel this tariff before the end date)	Not applicable
Discounts and additional charges	Not applicable
Additional products or services included	Not applicable

Assumed annual consumption	4,324kWh
Estimated annual cost	£547.23
TCR)

There are worse deals out there at the moment I think. It is coming in under that expected October cap so that's a positive. I would say you are unlikely to get a better fixed deal, which is also a positive.

You will pay more than the cap for the next few months, but it is the lower usage time of year. 

The negative is that it's two year deal and nobody has a clue what will happen from the spring of 23 and beyond. Worth considering in my opinion, especially if you like certainty in bills.