Forecast electricity ONLY rises

lisyloo

first apologies if this has been asked a million times and I can’t find it,

is is there a way for me to work out what the forecast electricity rise is approx?
we are electricity ONLY and it’s always seems to be quoted for both.

i understand for both it’s forecast around 65% with the being a good baked in estimate.
i have access to a fix with EDF at 49% for leccy so would like to know the leccy figure only as the two fuel rises can differ considerably.
can anyone advise on where this info is and apologies again if it’s been asked and posted a million times already (I’ve been trying for ever to get into the exaggerators club).

Astria

lisyloo said:

first apologies if this has been asked a million times and I can’t find it,

is is there a way for me to work out what the forecast electricity rise is approx?
we are electricity ONLY and it’s always seems to be quoted for both.

i understand for both it’s forecast around 65% with the being a good baked in estimate.
i have access to a fix with EDF at 49% for leccy so would like to know the leccy figure only as the two fuel rises can differ considerably.
can anyone advise on where this info is and apologies again if it’s been asked and posted a million times already (I’ve been trying for ever to get into the exaggerators club).

As far as I know there isn't a electric only or gas only suggestion, only a "average bill for average consumption may rise by 65%".

Whats the exit fee on your fix? 49% is pushing it a bit so if there's an exit fee of £100 or so it might not be worth it.

Mstty

This will help that's October and Jan 2023 next year as best anyone can predict at the moment. Credit to @QrizB

This link is the MSE info of upcoming prices that includes the link to the Cornwall insights prices above. Presuming standing charges don't change this is the best guesstimate around for now.

BUFF

Nobody knows. However, some people are suggesting that for SVT standing charges will remain the same but that kWh rates will increase to ~44p.
If you are on E7 then it gets more difficult again.

lisyloo

Astria said:

lisyloo said:

first apologies if this has been asked a million times and I can’t find it,

is is there a way for me to work out what the forecast electricity rise is approx?
we are electricity ONLY and it’s always seems to be quoted for both.

i understand for both it’s forecast around 65% with the being a good baked in estimate.
i have access to a fix with EDF at 49% for leccy so would like to know the leccy figure only as the two fuel rises can differ considerably.
can anyone advise on where this info is and apologies again if it’s been asked and posted a million times already (I’ve been trying for ever to get into the exaggerators club).

As far as I know there isn't a electric only or gas only suggestion, only a "average bill for average consumption may rise by 65%".

Whats the exit fee on your fix? 49% is pushing it a bit so if there's an exit fee of £100 or so it might not be worth it.

Exit fee is £150 (there's a £150 offer on with MSE)
That's 42.34 which is 49% more than 28.41 on SVT and less than forecast??

lisyloo

BUFF said:

Nobody knows. However, some people are suggesting that for SVT standing charges will remain the same but that kWh rates will increase to ~44.5p.
If you are on E7 then it gets more difficult again.

not on E7.
Only electric heating in rooms (used to be coal based central heating but elderly resident can no longer carry coal).
44.5/28.41 = 1.566 - so 56.6 % rise?

pochase

Don't forget that you will be paying the higher unit rate for more than 2 months. That is almost 16p per KWh.

lisyloo

pochase said:

Don't forget that you will be paying the higher unit rate for more than 2 months. That is almost 16p per KWh.

Agreed that needs to be factored in but these are probably the lowest consumption 2 months of the year.
I'm not necessarily set on the fix. I agree it's far from compelling.

Mstty

You could consider a switch and fix onto the sparkling tariff with

https://www.greenenergyuk.com/

Also read this thread

https://forums.moneysavingexpert.com/discussion/6372929/green-energy-uk-whats-the-catch/p1

Best switch and fix rates on the market currently with no exit fees.

Read the terms and conditions make sure it's right for you. This is a fixed rate not bound by price caps but does come under the expected rise in October and Jan 2023.

To rejoin a price capped product in the future you will have to switch to another provider at the end of your fixed rate as Green Energy are not bound by price caps and do not have to offer a product of this nature.

If you are happy with a switch and fix then a switch at the end should they not offer you a competitive one at the end of your fixed rate this could be for you.

lisyloo

Mstty said:

This will help that's October and Jan 2023 next year as best anyone can predict at the moment. Credit to @QrizB

This link is the MSE info of upcoming prices that includes the link to the Cornwall insights prices above. Presuming standing charges don't change this is the best guesstimate around for now.

Thanks.
43.94/28.41 = 54.6%
So fix isn't compelling given there's a lot of uncertainty.

This is exactly the info I wanted as headlines are 65% and it's more like 55% for electric only.

Mstty

When we fixed in March this year at the upcoming April price cap rates (29.24p for our region) we didn't know if we were making a good decision and if it wasn't zero exit fees with eon next we may have missed the boat.

I can understand hesitancy as we have been through that ourselves earlier this year but we fixed for 2 years and glad we did.

Personally I can't see anything happening to energy prices except rises for the next year or at the very least a rise in Jan then a stabilisation but not much reduction.

If I were with any other provider right not I would be switching to greenenergyuk and hope they are financially sound (been going since 2001) but the fix is the best switch and fix out there. In fact being electricity only we would probably sign up to their tide tariff and work out lives around not using hardly any energy between 4-8pm (fine for us as we work from home) but that's another boring story as to how and when we use electricity and how I think I can get us down to a 30p kWh average.