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Been fixed since crisis began but DD due to rise by 150%
Motherofcelticdragons
Posts: 48 Forumite
in Energy
Hi,
I was extremely lucky to have been on a fixed tarriff since July 2021, so have avoiding energy increased to date.
My maths might be off but the proposed 150% increase doesn't feel right, when Martin's last post suggested it was a 54% increase.
Is this just to catch up all the previous increases? I'll call obviously and shop around but would appreciate confidently quoting 54% if thats what i should be expecting after a year of fixed.
thanks :-)
I was extremely lucky to have been on a fixed tarriff since July 2021, so have avoiding energy increased to date.
My maths might be off but the proposed 150% increase doesn't feel right, when Martin's last post suggested it was a 54% increase.
Is this just to catch up all the previous increases? I'll call obviously and shop around but would appreciate confidently quoting 54% if thats what i should be expecting after a year of fixed.
thanks :-)
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Comments
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You've been on a fix remember - so you've been protected from ALL the drastic rises in recent times. The "guideline" increases only really translate to those who were on the SVR already prior to April. Even then it is also still just a guideline - your individual situation defines what percentage the rise actually is.
Unless you are fortunate with your current provider offering you an existing customer deal, you may well be better rolling to SVR and staying there for the time being.
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Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
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Yes I think that's the crux of my question: is this just playing catch up after a year of good fortune?0
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Almost certainly yes. If you can post the rates and your annual usage (from your bill) then someone can double check.Motherofcelticdragons said:Yes I think that's the crux of my question: is this just playing catch up after a year of good fortune?1 -
Yes, sounds like you've had it good for a long while and now it's nasty reality time.
If you've got a few days left on the fix, make the most of it and get your curtains washed etc. lolBarnsley, South Yorkshire
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Octopus Cosy/Fixed Outgoing1 -
Yes, the 54% increase was an increase from the old SVT to the new SVT, if you had an better rate the increase will be higher.
An increase of 150% sounds very likely depending on your use, If you had a good fix you electricity will likely double, and gas might treble.
Also there is another predicted 51% increase coming up in October.
Make sure to take meter readings the day your fix ends, even if you have a smart meter, and take a photo!1 -
The Ofgem cap has very nearly doubled since July 2021, and it's likely your fix was cheaper than the Jul 21 cap (was 3.3p/kWh & 26.6p/day gas, 18.95p/kWh and 24.89p/day elec).Motherofcelticdragons said:I was extremely lucky to have been on a fixed tarriff since July 2021, so have avoiding energy increased to date.
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Is this just to catch up all the previous increases?
N. Hampshire, he/him. Octopus Intelligent Go elec & Tracker gas / Vodafone BB / iD mobile. Kirk Hill Co-op member.Ofgem cap table, Ofgem cap explainer. Economy 7 cap explainer. Gas vs E7 vs peak elec heating costs, Best kettle!
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I have gone from a fix of £82 to a SVR of £210 so no that amount doesn't look unreasonable.
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