Do I fix now or not ? - British Gas electric only

myozone

Same here more or less,
Standing change going from 51.626p to 58.475p a day 13.26% increase
Unit rate going from 28.408p per kWh to 33.236p per kWh 17% increase

Overall at my 2066kWh pa usage thats an increase of £124.75 pa 16% increase 

AbbieCadabra

Compared to the Welcome/SoLR tariff we were on, we'll pay around £20 per month extra over the summer months on this new tariff as we use approx. 400kw per month (tariff already updated on my account yesterday & reading provided), but from Oct/Nov we go up to at least 1000kw per month & up to 2000kw if very cold (inefficient under floor heating that we can't do anything about).

Even if there are Gov measures to lessen the burden, we'd be unlikely to qualify for them unless they are given to absolutely everyone.  I'm happy to take a chance now & at least have a bit of stability in prices for a year, hopefully this madness might have calmed down/evened out a little by then.  These increases have already hit hard for many, similar future increases are just going to be crippling & completely unaffordable for many, there's a major crisis looming if 'something' doesn't happen.

myozone

Oil heating here costs about £450-£500 a year (88p Litre) and £900 pa electricity with this new tariff (£1375 all in)
AbbieCadabra  
Maybe change your underfloor heating to storage heaters ?

AbbieCadabra

myozone said:

Oil heating here costs about £450-£500 a year (88p Litre) and £900 pa electricity with this new tariff (£1375 all in)
AbbieCadabra  
Maybe change your underfloor heating to storage heaters ?

Thanks, we did look at alternatives last winter as the bills were creeping up but we're in a small block of flats so options are very limited as to what we can do unfortunately.  We haven't really got wall space for fixed heaters, but it worked ok last winter using the underfloor on a timer as background heat & portable heaters for extra where needed.  A neighbour bought an infared panel heater for their annex that they rent out & they're really impressed with it, so might look at one of these for the lounge higher up on a wall or even ceiling fixed.

jrio

This tariff has now been pulled.

myozone

@jrio Phew !, that was close. Guessed it might, thanks for letting us know !

Zolablue

jrio said:

This tariff has now been pulled.

Ah thanks. I was just trying to crunch the numbers so I can stop bothering now. 
I got a little confused when trying to crunch the numbers though as I couldn't work out whether the projected 40% rise in the cap equated to a 40% rise in electricity price and a 40% rise in the standing charge or whether the rise would be split differently. 

pochase

Zolablue said:

jrio said:

This tariff has now been pulled.

Ah thanks. I was just trying to crunch the numbers so I can stop bothering now. 
I got a little confused when trying to crunch the numbers though as I couldn't work out whether the projected 40% rise in the cap equated to a 40% rise in electricity price and a 40% rise in the standing charge or whether the rise would be split differently. 

There will almost certainly be a different increase for gas and electricity. In April the increase for gas was almost double for gas than for electricity.

But nobody will know exactly for October before the new cap is announced.

Standing charges are not expected to increase by much if at all.

Mr_Robot_Elliot

Problem is V2 offered by BG is £120+ per annum now.

My Variable ends 31/07/22. 

Do I wait or join V2? V3 will no doubt be more V2. I would suspect V2 will expire a week before the end of June

jrio

jrio said:

This tariff has now been pulled.

Unexpectedly, after attempting to change tariff on Friday, I've just received a BG email informing me that I'm on the May23V1 tariff from yesterday.  I didn't see that coming.