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

Keith_F

fredsnail said:

Currently on EDF standard as fixed dal ended.  They are currently offering a fixed deal for 2 years with £300 early exit fee:

Electric 
Unit cost 43.1p
Standing charge 48.15p

Gas
Unit cost 13.438p
Standing charge 27.22p

My monthly estimated cost is £217 (currently £150).


My gut feeling is I don't want to lock in for 2 years with so much volatility but what do you think?

If that was a year it might be a shout, can’t see prices doing anything but going up until at least April. But a £300 escape clause IF they go down next years is a risk. 

KenMavor

Eon offering two fixes.....

• Next Online v17

  Our most popular tariff, perfect for those who manage everything online.

  Monthly cost

  £203.08

  Annual cost £2,436.90

  • 
    
• Fixed prices for 12 months.
• 
  
• No exit fees.
• 
  
• 100% renewable electricity.**
• 
  
• Pay by Direct Debit.
• 
  
Get a free smart meter*.

and........

• Next 1 Year v16

  Fix your prices and that positive energy feeling for 12 months.

  Monthly cost

  £241.54

  Annual cost £2,898.43

  • 
    

  Fixed prices for 12 months.
• 
  
• No exit fees.
• 
  
• 100% renewable electricity.**
• 
  
• Pay by Direct Debit.
• 
  
Get a free smart meter*.

I have no idea is any of these are any good but just seen a tweet frm the boss that says increase ths October is 78%.  Price of gas is going up fast.  Then there is the next cap increase in January 2023.

I have no idea whether to fix on v17. Currently paying about £130 a month, averaged across the year, for electricity with a total annual charge of approx £1500.  A potential 78% increase brings that to £2670 and the v16 offers £2436 and that will include any January increase.  I think!!

This is impossible to determine what to do.

Keith_F

KenMavor said:

Eon offering two fixes.....

• Next Online v17

  Our most popular tariff, perfect for those who manage everything online.

  Monthly cost

  £203.08

  Annual cost £2,436.90

  • 
    
• Fixed prices for 12 months.
• 
  
• No exit fees.
• 
  
• 100% renewable electricity.**
• 
  
• Pay by Direct Debit.
• 
  
Get a free smart meter*.

and........

• Next 1 Year v16

  Fix your prices and that positive energy feeling for 12 months.

  Monthly cost

  £241.54

  Annual cost £2,898.43

  • 
    
• Fixed prices for 12 months.
• 
  
• No exit fees.
• 
  
• 100% renewable electricity.**
• 
  
• Pay by Direct Debit.
• 
  
Get a free smart meter*.

I have no idea is any of these are any good but just seen a tweet frm the boss that says increase ths October is 78%.  Price of gas is going up fast.  Then there is the next cap increase in January 2023.

I have no idea whether to fix on v17. Currently paying about £130 a month, averaged across the year, for electricity with a total annual charge of approx £1500.  A potential 78% increase brings that to £2670 and the v16 offers £2436 and that will include any January increase.  I think!!

This is impossible to determine what to do.

There are people here who can guide, but will need real numbers, your consumption in kWh, the standing charge and the prices per kWh for gas and electricity. 

Without that it’s a bit like buying a car for £x per month, you don’t really know what the real price is.  

KenMavor

Keith_F said:

KenMavor said:

Eon offering two fixes.....

• Next Online v17

  Our most popular tariff, perfect for those who manage everything online.

  Monthly cost

  £203.08

  Annual cost £2,436.90

  • 
    
• Fixed prices for 12 months.
• 
  
• No exit fees.
• 
  
• 100% renewable electricity.**
• 
  
• Pay by Direct Debit.
• 
  
Get a free smart meter*.

and........

• Next 1 Year v16

  Fix your prices and that positive energy feeling for 12 months.

  Monthly cost

  £241.54

  Annual cost £2,898.43

  • 
    
• Fixed prices for 12 months.
• 
  
• No exit fees.
• 
  
• 100% renewable electricity.**
• 
  
• Pay by Direct Debit.
• 
  
Get a free smart meter*.

I have no idea is any of these are any good but just seen a tweet frm the boss that says increase ths October is 78%.  Price of gas is going up fast.  Then there is the next cap increase in January 2023.

I have no idea whether to fix on v17. Currently paying about £130 a month, averaged across the year, for electricity with a total annual charge of approx £1500.  A potential 78% increase brings that to £2670 and the v16 offers £2436 and that will include any January increase.  I think!!

This is impossible to determine what to do.

There are people here who can guide, but will need real numbers, your consumption in kWh, the standing charge and the prices per kWh for gas and electricity. 

Without that it’s a bit like buying a car for £x per month, you don’t really know what the real price is.  

No rush mind you as they've gone already.

Did the maths and I reckon using excel.....I'd probably save 200 squid but no idea what happens in January.

9th July	27.91	50.05	4600	365	£1,283.86	£182.68	£1,466.54
October	49.68	89.09	4600	365	£2,285.27	£325.17	£2,610.45	£1,143.90

£1143.90 more a year after October increase of 78%

Teachertom

Hi I would love some advice and thoughts. 

I am with EDF so have their existing customer offers avaliable (however, with the £300 early exit fee.)

I am currently paying £123 a month, my new monthly estimate would be £183 for a 2 year fix. What are peoples' thoughts and opinions on this? There is also an additional £150 bill credit offered through a promo code.

Yoda85

My fix (£75 a month - which I will really miss!) ends at the end of the month. Would this be worth switching to? I think it has a £0 exit fee. 

Loyal Octopus 12M Fixed 

Electricity unit rate (standard): 44.97p/kWh

Electricity standing charge: 44.48p/day

Gas unit rate: 15.03p/kWh

Gas standing charge: 27.22p/day

Monthly cost: £181.12

Annual cost: £2,173.38

Teachertom

Keith_F said:

fredsnail said:

Currently on EDF standard as fixed dal ended.  They are currently offering a fixed deal for 2 years with £300 early exit fee:

Electric 
Unit cost 43.1p
Standing charge 48.15p

Gas
Unit cost 13.438p
Standing charge 27.22p

My monthly estimated cost is £217 (currently £150).


My gut feeling is I don't want to lock in for 2 years with so much volatility but what do you think?

If that was a year it might be a shout, can’t see prices doing anything but going up until at least April. But a £300 escape clause IF they go down next years is a risk. 

Did you see the £150 offer code?

fredsnail

Teachertom said:

Keith_F said:

fredsnail said:

Currently on EDF standard as fixed dal ended.  They are currently offering a fixed deal for 2 years with £300 early exit fee:

Electric 
Unit cost 43.1p
Standing charge 48.15p

Gas
Unit cost 13.438p
Standing charge 27.22p

My monthly estimated cost is £217 (currently £150).


My gut feeling is I don't want to lock in for 2 years with so much volatility but what do you think?

If that was a year it might be a shout, can’t see prices doing anything but going up until at least April. But a £300 escape clause IF they go down next years is a risk. 

Did you see the £150 offer code?

No I didn't see that.

QrizB

Yoda85 said:

My fix (£75 a month - which I will really miss!) ends at the end of the month. Would this be worth switching to? I think it has a £0 exit fee.

A week ago, we'd have said no; we were expecting the SVT to be cheaper than that through the winter.

In light of today's updated forecasts, Loyal Octopus July 2022 v2 might be worth taking after all.

Spoonie_Turtle

QrizB said:

Yoda85 said:

My fix (£75 a month - which I will really miss!) ends at the end of the month. Would this be worth switching to? I think it has a £0 exit fee.

A week ago, we'd have said no; we were expecting the SVT to be cheaper than that through the winter.

In light of today's updated forecasts, Loyal Octopus July 2022 v2 might be worth taking after all.

Oh poop.  Do we have a breakdown of the new estimated rates?