I'm not stupid but I've been caught out about rises in energy prices and the government's cap

diystarter7

A big thanks to all again. A bit more research and I just saw this from the Mirro on line

Electricity

• Unit rate: 34.00p per kWh
• Standing charge: 46.36p per day

Gas

• Unit rate: 10.30p per kWh
• Standing charge: 28.49p per day

https://www.mirror.co.uk/money/everything-you-need-know-new-28085545


=============

We are with EDF and our new rates on the varying rates are higher
EG

Elec -  Unit rate 35.80  - Standing charge/ 33.15  (standing charge is lower but I think we'd benfit from lower unit rates?

Gas -  unit rate  10.51  -  Standing charge   28.48

======


We are paying just over 300 atm per month for dual fuel


Are different suppliers offering lower unit rate but higher standing charges I think we will benefit from?

Sea_Shell

There are regional variations amongst the headline "average" rates.

Mstty

youravinalarrrf said:

For you to be £800 in debt to your energy supplier at this time of year means just one thing - you have not increased your direct debit to match your energy use and the rising prices and have definitely not been paying enough each month.

At this time of year you should expect to have built up credit over the summer to be around 2-3 times the amount of your direct debit in credit to allow for your increased usage over the coming winter months.

It's simple enough to calculate what your direct debit should be yourself from your estimated annual usage figures which are usually stated on each monthly statement/bill.

If this is something you can't do yourself ask your energy supplier to review your account and provide an appropriate monthly direct debit amount for your estimated annual energy use.

With one very large caveat that makes your statement not applicable to all.

Not all people start their energy paying life at the start of summer to overpay by fixed DD to accrue the credit you talk about.

As an example with our current provider Eon Next our first year Anniversary ends October 3rd where our account will be in credit by approx £11. Not the large sum you talk about because our year with them runs different.

[Deleted User]

diystarter7 said:

A big thanks to all again. A bit more research and I just saw this from the Mirro on line

Electricity

• Unit rate: 34.00p per kWh
• Standing charge: 46.36p per day

Gas

• Unit rate: 10.30p per kWh
• Standing charge: 28.49p per day

https://www.mirror.co.uk/money/everything-you-need-know-new-28085545


=============

We are with EDF and our new rates on the varying rates are higher
EG

Elec -  Unit rate 35.80  - Standing charge/ 33.15  (standing charge is lower but I think we'd benfit from lower unit rates?

Gas -  unit rate  10.51  -  Standing charge   28.48

======


We are paying just over 300 atm per month for dual fuel


Are different suppliers offering lower unit rate but higher standing charges I think we will benefit from?

You're in the London area.  Those prices are exactly at the cap.

Nobody is allowed to offer a higher standing charge, and no supplier can afford to offer a lower unit rate.

youravinalarrrf

Mstty said:

youravinalarrrf said:

For you to be £800 in debt to your energy supplier at this time of year means just one thing - you have not increased your direct debit to match your energy use and the rising prices and have definitely not been paying enough each month.

At this time of year you should expect to have built up credit over the summer to be around 2-3 times the amount of your direct debit in credit to allow for your increased usage over the coming winter months.

It's simple enough to calculate what your direct debit should be yourself from your estimated annual usage figures which are usually stated on each monthly statement/bill.

If this is something you can't do yourself ask your energy supplier to review your account and provide an appropriate monthly direct debit amount for your estimated annual energy use.

With one very large caveat that makes your statement not applicable to all.

Not all people start their energy paying life at the start of summer to overpay by fixed DD to accrue the credit you talk about.

As an example with our current provider Eon Next our first year Anniversary ends October 3rd where our account will be in credit by approx £11. Not the large sum you talk about because our year with them runs different.

Everyone knows that winter is coming and energy usage and costs will increase during this period. There's really no excuse for not making appropriate adjustments to your payments to take this into account.

In my opinion it's sensible to arrange to either make a one off payment into your energy account or increase your direct debit to build up the necessary credit over a number of months to cover the winter period of increased usage/costs.

Mstty

youravinalarrrf said:

Mstty said:

youravinalarrrf said:

For you to be £800 in debt to your energy supplier at this time of year means just one thing - you have not increased your direct debit to match your energy use and the rising prices and have definitely not been paying enough each month.

At this time of year you should expect to have built up credit over the summer to be around 2-3 times the amount of your direct debit in credit to allow for your increased usage over the coming winter months.

It's simple enough to calculate what your direct debit should be yourself from your estimated annual usage figures which are usually stated on each monthly statement/bill.

If this is something you can't do yourself ask your energy supplier to review your account and provide an appropriate monthly direct debit amount for your estimated annual energy use.

With one very large caveat that makes your statement not applicable to all.

Not all people start their energy paying life at the start of summer to overpay by fixed DD to accrue the credit you talk about.

As an example with our current provider Eon Next our first year Anniversary ends October 3rd where our account will be in credit by approx £11. Not the large sum you talk about because our year with them runs different.

Everyone knows that winter is coming and energy usage and costs will increase during this period. There's really no excuse for not making appropriate adjustments to your payments to take this into account.

In my opinion it's sensible to arrange to either make a one off payment into your energy account or increase your direct debit to build up the necessary credit over a number of months to cover the winter period of increased usage/costs.

How is it sensible if your year with an energy provider starts October and ends October to overpay your yearly bill.

Just taking fixed DD. It is just the other way round to what you deem normal you accrue debt in winter to overpay back in summer. Rather than the way you stated of accruing credit in summer to pay for winter.

Why would anyone have to overpay, just don't assume everyone starts their year with their supplier on April 1st👍

It also has the benefit of never giving your energy supplier money upfront as well as giving you a target of energy usage in summer and it is much easier to cut things back in the summer to winter to balance your energy account.

[Deleted User]

youravinalarrrf said:

Mstty said:

youravinalarrrf said:

For you to be £800 in debt to your energy supplier at this time of year means just one thing - you have not increased your direct debit to match your energy use and the rising prices and have definitely not been paying enough each month.

At this time of year you should expect to have built up credit over the summer to be around 2-3 times the amount of your direct debit in credit to allow for your increased usage over the coming winter months.

It's simple enough to calculate what your direct debit should be yourself from your estimated annual usage figures which are usually stated on each monthly statement/bill.

If this is something you can't do yourself ask your energy supplier to review your account and provide an appropriate monthly direct debit amount for your estimated annual energy use.

With one very large caveat that makes your statement not applicable to all.

Not all people start their energy paying life at the start of summer to overpay by fixed DD to accrue the credit you talk about.

As an example with our current provider Eon Next our first year Anniversary ends October 3rd where our account will be in credit by approx £11. Not the large sum you talk about because our year with them runs different.

Everyone knows that winter is coming and energy usage and costs will increase during this period. There's really no excuse for not making appropriate adjustments to your payments to take this into account.

In my opinion it's sensible to arrange to either make a one off payment into your energy account or increase your direct debit to build up the necessary credit over a number of months to cover the winter period of increased usage/costs.

Who is making an excuse?  @Mstty simply stated that their annual cycle starts and ends on 3 Oct.  I'm sure that they are expecting a different DD for the period 3 Oct 22 - 3 Oct 23 than they will have had for the year just finishing.

If you happen to have an 'energy year' starting late summer or early winter, then the expected pattern is to dip into debt before recovering it over the next summer.  It's not the 'usual' pattern, and its one that suppliers are being encouraged to move people away from, but there's nothing wrong with it.

BooJewels

youravinalarrrf said:

Mstty said:

youravinalarrrf said:

For you to be £800 in debt to your energy supplier at this time of year means just one thing - you have not increased your direct debit to match your energy use and the rising prices and have definitely not been paying enough each month.

At this time of year you should expect to have built up credit over the summer to be around 2-3 times the amount of your direct debit in credit to allow for your increased usage over the coming winter months.

It's simple enough to calculate what your direct debit should be yourself from your estimated annual usage figures which are usually stated on each monthly statement/bill.

If this is something you can't do yourself ask your energy supplier to review your account and provide an appropriate monthly direct debit amount for your estimated annual energy use.

With one very large caveat that makes your statement not applicable to all.

Not all people start their energy paying life at the start of summer to overpay by fixed DD to accrue the credit you talk about.

As an example with our current provider Eon Next our first year Anniversary ends October 3rd where our account will be in credit by approx £11. Not the large sum you talk about because our year with them runs different.

Everyone knows that winter is coming and energy usage and costs will increase during this period. There's really no excuse for not making appropriate adjustments to your payments to take this into account.

In my opinion it's sensible to arrange to either make a one off payment into your energy account or increase your direct debit to build up the necessary credit over a number of months to cover the winter period of increased usage/costs.

You'd think so - the bit in bold.  But can I get BG to embrace this concept, nope. I've been having a battle with them for about 15 years.  As soon as I accumulate about 150 quid in credit, they send it back to me and reduce my DD.  They just cannot take my readings and extrapolate them for my reviews - there's a glitch in my account somewhere that seemingly adds a factor of division into my annual estimates and DD calculations.  Thankfully, I'm all over it and work it out for myself and as soon as a bit of debit balance appears, I make a manual payment from what they returned to me, to straighten it up a bit.  So I have to manage my own 'credit balance' through a savings account.  Silly sausages.

So if people don't understand these things for themselves, they'll soon get into a pickle if the supplier can't get it right either.

chris_n

diystarter7 said:

I consider myself to be moderately educated and very sensible and more than moderately aware of life and how to manage a home.

I'm aware what a price cap on gas & electric prices but that can be confusing to many but not me

I feel silly and stupid today having received a letter from my energy supplier.
I was shocked to learn that tariffs are indeed going up. Stupidly I thought they had been frozen at April 2022 levels.
We are also 800 pounds in debt as opposed to the 400 the previous year.
We are currently paying over 300 pounds a month and will now increase this to 450 in order to clear the debt as well.


We are careful with the heating and lighting, we are at home all day.

We have money but we are eating into it as we are early retired and savings well in excess of the benefits levels.

It is a shock and I'm worried as we are both over the age of 60 and feel the cold.

One of our children lives with us and works from home, they have offered to help even more but ATM we have declined as it is pride.


Anyone else got caught out like me?

I would suggest that you are actually way above normal / average users if you are paying £300 a month and are still £800 in debt before the price rises. Time for an energy audit, if you give actual annual consumption and a list of usage the nice folk on here may be able to point you in the right direction. I'll start with are there any high powered computers / gaming systems in use? 

turnitround

Im with Utilita and my new rates are 

Electric     1st 2kw @ 55p then 33.5 for the rest.
Gas           1st 2kw 24.49 then the rest at 10.32

But there are no standing charges.

I pay by variable DD and my bill for last month (Aug) was £89.40 but of course we did not really have the heating on apart from one day for a couple of hours. I do a wash 2 or 3 times a week and have a gas hob and electric oven and dishwasher but dont have a tumble dryer. This month I have used the heating twice and at night tend to just put the gas fire on in the lounge rather than the heating as I hate a warm bedroom.

We are retired so home all day and have a 3 bed semi so up to now I'm not overly worried.   I have a smart meter and to date for this month it's showing my usage at £ 71.06 but still 5 days to go plus vat.