Fixed gas/lecky fuel tariff rise from £1600 p/a to (estimated) £4600 p/a from October....

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Jubudz
Jubudz Posts: 37 Forumite
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...just wondering how this compares to other members new tariffs?  The variable estimate is £2400 p/a but surely this will be a license to print money by the supplier & will go skyward from the first month.

Thanks.
J

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  • Mstty
    Mstty Posts: 4,209 Forumite
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    edited 17 August 2022 at 1:03PM
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    The thing that makes your energy bill goes skywards is energy use.

    The base price for the standard variable tariff will be set by Ofgem for October on 26th August.

    The profit margin for suppliers is to my knowledge still set to circa 2%
  • Astria
    Astria Posts: 1,448 Forumite
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    This important thing is what you are paying PER UNIT.
    An estimate of £2400 - £4600 p/a is meaningless.
    Prices are expected to rise this October, and then again in January and April next year, but they should reduce in July.

  • wild666
    wild666 Posts: 2,126 Forumite
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    If you use electric and gas try lowering the temperatures on the boiler to 50 degrees for water and 55 degrees for heating and lower the thermostat to 18 degrees, lower if you can tolerate a lower temperature.
    With electric turn off everything not in use except the fridge, freezer and router, appliances that can be turned off at the wall socket, not left in stand by mode include TV, DVD player, games consoles, surround sound equipment, smart speakers, cooker, washing machine, microwave oven, PC/Laptop, printers, stereos, shower, extractor fans and charging leads as well as any other items left in stand by mode.

    Doing this lowered my electric bill by 35% and my gas bill by 65%.
    Teach other family member to turn appliances off at the wall socket if not in use. 

    The downside to using less and suppliers getting less profit is that they will want a bigger increase in bills so they don't lose money that is profit.
    Someone please tell me what money is
  • jimjames
    jimjames Posts: 17,676 Forumite
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    Jubudz said:
    ...just wondering how this compares to other members new tariffs?  
    I'm paying less than £4600 but I'm not sure that info will be of much use to you. As above the real things you want to compare are the unit rates
    Remember the saying: if it looks too good to be true it almost certainly is.
  • Alnat1
    Alnat1 Posts: 3,329 Forumite
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    Simple answer, the only way to try and get your bills down is to use less.
    Barnsley, South Yorkshire
    Solar PV 5.25kWp SW facing (14 x 375 Longi) Lux 3.6kw hybrid inverter and 4.8kw Pylontech battery storage installed March 22
    Octopus Agile/Fixed Outgoing and Tracker gas
  • macman
    macman Posts: 53,098 Forumite
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    Alnat1 said:
    Simple answer, the only way to try and get your bills down is to use less.
    Fairly obvious, but the problem is that the OP doesn't know the cause of the high usage. Which is what we are trying to help establish.
    It also ignores the possibility of a meter fault or domestic electrical fault.
    No free lunch, and no free laptop ;)
  • Mstty
    Mstty Posts: 4,209 Forumite
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    I don't think the OP has asked for any energy saving help at all they are just surprised that the variable price capped rate is £2400 a year for them so 22% above the notional average and they have read in the press the average user is going to be £4600 from October or potentially for them £5500 given their £'s and pence usage.

    Scary stuff

    When they come back to the thread perhaps they might want some help with reduction of energy?
  • pochase
    pochase Posts: 3,449 Forumite
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    To me it seems he has paid  £1600 on a fixed tariff and it goes up to £4600 on the next fix, but the current SVT is only £2400 (before October cap).

    But each of us could be right here.  B)
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