Gas Price Rise

Bungle22

I have my electricity with British Gas and my Gas with EDF after Neon Reef and Zog went bust.

I am fixed for Electricity until December 2023 at a rate similar than the current energy price cap, so come October 2022 I will be making a saving. I have no plans to switch my Electricity tariff or supplier before 2024.

I am currently on the SVT for Gas with EDF and considering taking the 2 year fixed deal with a £150 exit fee and £130 bill credit. The standing charges are identical but my unit rate would rise from 7.367p to 11.617p. 

That’s around a 58% increase. My summer gas usage is minimal, one short shower a day and some washing up. I spend less than £15 on gas per month easily in summer.

Can anybody put Electric to one side and guesstimate whether we are likely to see the Gas unit rate for October 2022 go up by more than 58%?

Astria

It may well go up by 70%, but then again it may also come down next April, so the average for the year may be 58% or less.

pochase

From the last prediction just over 70%.

Northern_Wanderer

pochase said:

From the last prediction just over 70%.

OMG! I didn't know that....

matelodave

A lot will depend of whether there's a not so subtle move to start bringing the cost of gas more in line with the cost of leccy.

If there's a desire for people to shift from gas to leccy then the only way it's going to be achieved. is by increasing the cost of gas relative to the cost of leccy over then next few years Just my opinion you understand

pochase

That is already happening.

My last fix gas was 2.3p, now a fix would be over 11.5p, that is more than 400% increase.

Electricity was 14.5p, I can easily fix below 43.5p, so less than 200% increase.

QrizB

Northern_Wanderer said:

pochase said:

From the last prediction just over 70%.

OMG! I didn't know that....

See table here:

https://forums.moneysavingexpert.com/discussion/comment/79295661/#Comment_79295661

Current capped gas price is around 7.37p/kWh so 12.47p/kWh in October is +69%.

For electric, a rise from 28.34p/kWh to 41.88p/kWh is a 48% increase.

brewerdave

Bungle22 said:

I have my electricity with British Gas and my Gas with EDF after Neon Reef and Zog went bust.

I am fixed for Electricity until December 2023 at a rate similar than the current energy price cap, so come October 2022 I will be making a saving. I have no plans to switch my Electricity tariff or supplier before 2024.

I am currently on the SVT for Gas with EDF and considering taking the 2 year fixed deal with a £150 exit fee and £130 bill credit. The standing charges are identical but my unit rate would rise from 7.367p to 11.617p. 

That’s around a 58% increase. My summer gas usage is minimal, one short shower a day and some washing up. I spend less than £15 on gas per month easily in summer.

Can anybody put Electric to one side and guesstimate whether we are likely to see the Gas unit rate for October 2022 go up by more than 58%?

Make sure that you are going to get the £130 bill credit . The code didn't work for me and I was told it only applied for a customer who was on both leccy and gas.

The_Green_Hornet

brewerdave said:

Bungle22 said:

I have my electricity with British Gas and my Gas with EDF after Neon Reef and Zog went bust.

I am fixed for Electricity until December 2023 at a rate similar than the current energy price cap, so come October 2022 I will be making a saving. I have no plans to switch my Electricity tariff or supplier before 2024.

I am currently on the SVT for Gas with EDF and considering taking the 2 year fixed deal with a £150 exit fee and £130 bill credit. The standing charges are identical but my unit rate would rise from 7.367p to 11.617p. 

That’s around a 58% increase. My summer gas usage is minimal, one short shower a day and some washing up. I spend less than £15 on gas per month easily in summer.

Can anybody put Electric to one side and guesstimate whether we are likely to see the Gas unit rate for October 2022 go up by more than 58%?

Make sure that you are going to get the £130 bill credit . The code didn't work for me and I was told it only applied for a customer who was on both leccy and gas.

That is odd as the code worked for me, I'm only on gas and the credit + VAT (£136.50) was applied to my account.

Bungle22

The_Green_Hornet said:

brewerdave said:

Bungle22 said:

I have my electricity with British Gas and my Gas with EDF after Neon Reef and Zog went bust.

I am fixed for Electricity until December 2023 at a rate similar than the current energy price cap, so come October 2022 I will be making a saving. I have no plans to switch my Electricity tariff or supplier before 2024.

I am currently on the SVT for Gas with EDF and considering taking the 2 year fixed deal with a £150 exit fee and £130 bill credit. The standing charges are identical but my unit rate would rise from 7.367p to 11.617p. 

That’s around a 58% increase. My summer gas usage is minimal, one short shower a day and some washing up. I spend less than £15 on gas per month easily in summer.

Can anybody put Electric to one side and guesstimate whether we are likely to see the Gas unit rate for October 2022 go up by more than 58%?

Make sure that you are going to get the £130 bill credit . The code didn't work for me and I was told it only applied for a customer who was on both leccy and gas.

That is odd as the code worked for me, I'm only on gas and the credit + VAT (£136.50) was applied to my account.

Same for me. Applied within 24 hours.