Anyone else feeling a little sick right now

Evan3020

I am doing the same with my own parents who both 90, they do understand the issue and are open to ideas but my mum is basically fireproof and still insists it is necessary to have the heating on for an hour in the morning right now in the summer and when she comes round to my house she heads straight for the conservatory and sits there when it is 110F in there and still wears her coat. I have to bring her a cup of tea (piping hot of course) and then get out of there.

pearl123

I'm a low energy user. A  fix with Octopus is now nudging over £200.00 a month. For many, that might seem low. It's very high to me. There's not a lot I can do to lower energy. It's the knock on effect too. Higher goods.
In winter, indoors I wear double thermals and a wooly hat.
There will be an health crisis and mental health crisis, if the rising cost of living is not addressed. 

brickwall001

pochase said:

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Not sure what we can do to help people, apart from warning them that tariffs can be withdrawn without notice and they should bag them and use cool off instead of of overthinking and losing them.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

I was in the exact same boat, fixed 2 years with EDF in Feb, 2 days before the ukraine war [ i was worried the war will push prices up]. I thought i made a mistake few weeks later, and was going to cancel, then i just thought best to see what happens.

i dont know how people will manage at the variable rate. that £400 or so will dissipate amongst the annual bill for some. but every little helps.

Exodi

littleteapot said:

When I fixed my energy prices in April this year until April 2024, I tried to convince my parents to do the same based on what I expected would happen. But I got the standard responses "We'll be fine as we are thankyou", "We've always been able to afford the bill".

They only have a 2 bed semi, but they keep the whole house at about 22C "because dad feels the cold since he became ill".  I tried to explain to them how they could reduce consumption without being uncomfortable for example reducing the temperature in the kitchen and unoccupied bedroom, using the washing machine, dishwasher and tumble dryer only during the off-peak period. But again just a barrage of excuses not to change anything. Sadly this mentality seems to be prevalent in well over 50% of the population.

Can completely relate to this-

When I visit my sister, in a low income household of 5 with two young children, she commonly tells me how the energy bills financially cripple her and she doesn't know how she'll be able to afford them if they go up.

The same sister keeps her house at 25(!) 'for the kids', has one of those hotel mini fridges in her room and a portable air conditioning unit as keeping the heating on all day ends up making the bedroom too hot at night.

When asking why she doesn't just turn the heating down, you just get an empty "yeah we should do really".

pochase

Yep, EDF 2 Years fix a good week before you took it. And not being sure it will work out, who would have imagined what we see today?

SuperHung

I followed Martin Lewis advice to sit tight and stay on energy cap prices. Now I am screwed.

Evan3020

Your decision not his, i am on the SVR too and i am not screwed.

spot1034

SuperHung said:

I followed Martin Lewis advice to sit tight and stay on energy cap prices. Now I am screwed.

You would have paid more than you have done for perhaps quite a long period. That is not quite such a negative for people fixing now with October in sight, and if you had fixed several months ago you would be several months closer to it ending and possibly having to secure another fix at a much higher price, whereas if you had done it more recently you would have longer left. 

PennyForThem_2

I am on a 2 year fix until May 2023 with Octopus.  When I changed in April 21 the cheapest was definitely variable - glad didn't go with that.

I am a child of the 50's when most homes did not have CH.  Not quite break the ice in the sink before could have a wash but not far off.  

So yes, I am going to be slammed in April 2023 when I look for alternative - doubt whether I will change from Octopus and am crossing fingers that the markets stabilise.  But - I am quite prepared to go back to the 50's - wrap up warm, hotwater bottles, cuddling the cat (why was that utility company lambasted for suggesting cuddling pets.....it is a legit strategy now     )

Luckily the £400 offered by the Gov will mean free gas/electricy for me for 6 months plus the credit built up.  (And yes I give real meter readings every month.)

tomp2494

I am not feeling sick re the new cap. I am on Octopus tracker for gas an electric until mid June 2023, so hopefully Octopus honor the caps of 40p electric and 11p for gas, and do not up the standing charges. But if they go up and I end up back on the SVT...

I know I am not going to pay more than £85 per month which is what I pay now (which is already a complete rip off for my small flat, two radiators and a towel rail which is rarely on anyway, with way below average usage of electric and gas) 

Bottom line is that the government is going to have to step in. Drop the VAT, drop the ludicrous green levies, to slash bills, and give every home an additional couple of hundred at least, in addition to the £400 already on the table. It was easy to bail the banks out in 2008, yet there isn't such keenness to bail us out of our extortionate energy bills 

In a developed country such as ours, basic things such as water and energy to heat our homes should be cheap and affordable for all. I understand there will be times where fuel is more expensive, but that doesn't mean to current levels of putting most of the country into fuel poverty!