Load the gas meter up before change in EPG?

skycatcher

I have a dumb gas meter that can be loaded with credit at the current price and will not alter that until it is loaded again lost price change. I currently have a little under £160 loaded. I use about 600kw/h per month during the winter months and much less during the summer. Total usage around 2800 kw/h per year. The price per unit is due to increase from approx 8p to 9p on 1 Jan. At my usage I probably have enough prepaid to take me to next autumn. 

Is it worth loading more on now or is there any likelihood the Price maybe on the way down by next autumn....I know  Crystal ball stuff but.....

pochase

Not sure where you get those KWh prices from?

We have at the moment already a KWh price of about 10.3p for gas, but there will be no real increase on the 1st of January.

The next real increase will be on the 1st of April.

skycatcher

Those prices were from my supplier.....I should add I'm based in NI but still subject to the EPG which is changing in the 1st.

Chrysalis

skycatcher said:

I have a dumb gas meter that can be loaded with credit at the current price and will not alter that until it is loaded again lost price change. I currently have a little under £160 loaded. I use about 600kw/h per month during the winter months and much less during the summer. Total usage around 2800 kw/h per year. The price per unit is due to increase from approx 8p to 9p on 1 Jan. At my usage I probably have enough prepaid to take me to next autumn. 

Is it worth loading more on now or is there any likelihood the Price maybe on the way down by next autumn....I know  Crystal ball stuff but.....

EPG isnt changing until April, some people have got confused with the Ofgem cap increasing.

t0rt0ise

Chrysalis said:

skycatcher said:

I have a dumb gas meter that can be loaded with credit at the current price and will not alter that until it is loaded again lost price change. I currently have a little under £160 loaded. I use about 600kw/h per month during the winter months and much less during the summer. Total usage around 2800 kw/h per year. The price per unit is due to increase from approx 8p to 9p on 1 Jan. At my usage I probably have enough prepaid to take me to next autumn. 

Is it worth loading more on now or is there any likelihood the Price maybe on the way down by next autumn....I know  Crystal ball stuff but.....

EPG isnt changing until April, some people have got confused with the Ofgem cap increasing.

My rates were supposed to go up in January in London but Octopus are absorbing the rise. I got an email explaining that yesterday.

skycatcher

Apparently the change only applies to NI!

Chrysalis

t0rt0ise said:

Chrysalis said:

skycatcher said:

I have a dumb gas meter that can be loaded with credit at the current price and will not alter that until it is loaded again lost price change. I currently have a little under £160 loaded. I use about 600kw/h per month during the winter months and much less during the summer. Total usage around 2800 kw/h per year. The price per unit is due to increase from approx 8p to 9p on 1 Jan. At my usage I probably have enough prepaid to take me to next autumn. 

Is it worth loading more on now or is there any likelihood the Price maybe on the way down by next autumn....I know  Crystal ball stuff but.....

EPG isnt changing until April, some people have got confused with the Ofgem cap increasing.

My rates were supposed to go up in January in London but Octopus are absorbing the rise. I got an email explaining that yesterday.

What tariff are you on and can you share this email here?

t0rt0ise

Chrysalis said:

t0rt0ise said:

Chrysalis said:

skycatcher said:

I have a dumb gas meter that can be loaded with credit at the current price and will not alter that until it is loaded again lost price change. I currently have a little under £160 loaded. I use about 600kw/h per month during the winter months and much less during the summer. Total usage around 2800 kw/h per year. The price per unit is due to increase from approx 8p to 9p on 1 Jan. At my usage I probably have enough prepaid to take me to next autumn. 

Is it worth loading more on now or is there any likelihood the Price maybe on the way down by next autumn....I know  Crystal ball stuff but.....

EPG isnt changing until April, some people have got confused with the Ofgem cap increasing.

My rates were supposed to go up in January in London but Octopus are absorbing the rise. I got an email explaining that yesterday.

What tariff are you on and can you share this email here?

Ordinary variable tariff. The email is long, here's the beginning...

"Dear xxx

The Government recently announced some changes to the Energy Price Guarantee: the scheme put in place from October to cap energy prices in the crisis (although your bill will still vary based on how much you use). 

The first change was a surprise: due to the updated Ofgem Price Cap, some Energy Price Guarantee rates are changing in January. 

This is because the Energy Price Guarantee is tied — imperfectly — to the Ofgem Price Cap (if you’re curious, read more at the bottom of this letter). 

At a practical level, this means price changes – some up, some down – to Energy Price Guarantee electricity rates in many regions. 

The majority of changes are reasonably small, and where we can, we’re absorbing any rises and passing on reductions. 

While the Energy Price Cap is increasing unit rates in your area, we’re not passing this increase on, and your prices won’t change in January. 

There’s a reminder of your current rates attached."

Chrysalis

The email doesnt make sense, as the public statements have said the EPG rate isnt changing until April.

Will keep an eye on the EPG page here.

I will quote the important part which completely contradicts the email you got sent.

https://www.gov.uk/government/publications/energy-bills-support/energy-bills-support-factsheet-8-september-2022#:~:text=Ofgem Price Cap,will pay for their energy.

If you’re on a standard variable tariff

The average unit price for dual fuel customers on standard variable tariffs subject to Ofgem’s price cap, paying by direct debit, is limited to:

• 34.0p/kWh (pence per kilowatt hour) for electricity and 10.3p/kWh for gas, inclusive of VAT, from 1 October 2022 through to March 2023

Chrysalis

Can you please post the full email, you missed what seems to be the very important "bottom of the letter".

 (if you’re curious, read more at the bottom of this letter)

Speculation hat on, my guess is some adjustments were made to the regional price offsets, so was maybe just a very small unit rate increase to reflect that, which would make sense given Octopus are willing to absorb it.

t0rt0ise

Chrysalis said:

Can you please post the full email, you missed what seems to be the very important "bottom of the letter".

 (if you’re curious, read more at the bottom of this letter)

Speculation hat on, my guess is some adjustments were made to the regional price offsets, so was maybe just a very small unit rate increase to reflect that, which would make sense given Octopus are willing to absorb it.

It isn't at all interesting. The rest of the letter tells us nothing new. I no longer have it here on ipad as I've downloaded emails to computer so can't copy it. Of course it's only pennies. The two areas affected seem to be London and Merseyside. So if you're not in one of those, it won't affect you whichever supplier you're with. But it still stands that some prices are rising for some in January.