Anyone else feeling a little sick right now

Mstty

Quite the shock again today with the latest predictions which will surely bring more new members to the forum looking for ways out of which there are very few left now.

I like the way @pochase is saying fix now as long as their is a cooling off period to back out or zero exit fees.

I can't think of anything to add except helping people reduce usage.

What else is there to stop this sick feeling?

BUFF

Mstty said:

What else is there to stop this sick feeling?

Knowing that you are on a "reasonable" fix although that only puts it off until near the end of your fix ...

johnbhoy70

Can't disagree with any of that.

Humming and hawing over taking a fixed might well cost you a few quid if you don't just bite the bullet and use that cooling off period to reassess. It's the only ''control'' you can take really, if you can call it that.
 
A lot of us know that feeling well from last summer onwards when they wondered if they had done the right thing taking on a fix, although the stakes are far higher now admittedly. 

Mstty

BUFF said:

Mstty said:

What else is there to stop this sick feeling?

Knowing that you are on a "reasonable" fix although that only puts it off until near the end of your fix ...

It's more helping people out here to be honest @Buff, neighbours and also friends who are only just now un-burying their heads from the sand.

It's been very enjoyable getting people over to good fixed rates whether than be greenenergyuk, Octopus Agile,Tracker and Go products to name a few.

But with most avenues closed of closing its difficult to know what to say anymore.

What_time_is_it

It's very scary indeed. And it will be even worse for the millions of people who are too scared or ill-informed to be able to grasp the nettle. 

BUFF

Mstty said:

BUFF said:

Mstty said:

What else is there to stop this sick feeling?

Knowing that you are on a "reasonable" fix although that only puts it off until near the end of your fix ...

It's more helping people out here to be honest @Buff, neighbours and also friends who are only just now un-burying their heads from the sand.

It's been very enjoyable getting people over to good fixed rates whether than be greenenergyuk, Octopus Agile,Tracker and Go products to name a few.

But with most avenues closed of closing its difficult to know what to say anymore.

As you say though most avenues have already closed, are closing or most likely will do.
The only other option is to try to reduce usage.
People who have been/continue to be unaware are in for extremely rude awakenings! (sometimes there is no way to sugarcoat the pill)

Exodi

johnbhoy70 said:

Can't disagree with any of that.

Humming and hawing over taking a fixed might well cost you a few quid if you don't just bite the bullet and use that cooling off period to reassess. It's the only ''control'' you can take really, if you can call it that.
 
A lot of us know that feeling well from last summer onwards when they wondered if they had done the right thing taking on a fix, although the stakes are far higher now admittedly. 

Surely at this point, the significant amount of people are on the SVT. Current fixes are akin to meeting a bear and chopping your arms off so they can't be bitten off.

Crazy to think that energy bills are once again set to double in a couple of months, after having doubled only a few months ago already.

Coupled with soaring costs of pretty much everything, and most people getting a single digit salary increase, everyone will be objectively worse off for the forseeable future.

Evan3020

Chopping your second arm off is the difficult one.

pochase

Completely agree with you.

When I took a 2 year fix in February with unit rates of 33p and  9.05p it was a gamble, knowing that I would massively overpay for March, and it would take another 6 months of overpaying before there would be a chance in October to start saving. I was contend with not overpaying by to much and just did it as I was risk adverse.

Add to that everybody saying that the prices will come down in 2023, making a 2 year fixed tariff very risky.

Now I know I have done the right thing, and I am in the lucky situation that I could afford the gamble.

Not sure what we can do to help people, apart from warning them that tariffs can be withdrawn without notice and they should bag them and use cool off instead of of overthinking and losing them.

For most people coming to the forum today the ship has sailed, we are looking at increases of more than 100% by January, over 181% from October 2021 to October 2022. There are just no "good" fixed tariffs left.

I don't know what could have been done better, but the advice when a fix might be ok also did not help, the percentage there just kept going up every few weeks, from 20% to currently almost 70%, and most likely 100% this week. Imagine to say if the new tariff is less than double you should consider it. 

pochase

Exodi said:

johnbhoy70 said:

Can't disagree with any of that.

Humming and hawing over taking a fixed might well cost you a few quid if you don't just bite the bullet and use that cooling off period to reassess. It's the only ''control'' you can take really, if you can call it that.
 
A lot of us know that feeling well from last summer onwards when they wondered if they had done the right thing taking on a fix, although the stakes are far higher now admittedly. 

Surely at this point, the significant amount of people are on the SVT. Current fixes are akin to meeting a bear and chopping your arms off so they can't be bitten off.

Crazy to think that energy bills are once again set to double in a couple of months, after having doubled only a few months ago already.

Coupled with soaring costs of pretty much everything, and most people getting a single digit salary increase, everyone will be objectively worse off for the forseeable future.

The situation is bad enough, but where are prices doubling after having doubled (that is 4 times!)? We have "only" a 2.81times increase since October last year. Bad enough, I know, but far from 4 times, and making it worse than it is is not really helpful.

Also many people have fixed between May and July, for sure more have asked for advice (or were only reading the forum) and have not fixed.

Auti

I have no idea where I can trim any more - have sort of covered the October estimations by increasing dd now (did it in increments) but have no idea what can go to get to January’s estimated price. My low fix ends 20 October and cannot find/get onto suppliers new fixes and to be honest now they are so high I cannot commit to £400+ dd per month. I have tried to prepare (our money has always been tight) and done all free stuff with my child and he has had fun but through personal circumstances that do not change (rather than being lazy/work shy/stupid) I really do not know how winter will be and I am beyond worried.