My gas bill will go up by 30% on 1st July - can anybody beat that?

michaels

Dual fuel fix, £300 fee to exit before May 24.  Demise of the EPG mean my gas unit price goes up form 10.3p to 13.4p.  Electricity is a day/night rate that won't change.

Anyone else likely to see a bigger increase in July?

jbuchanangb

You must have chosen to fix your rate for 2 years at quite a bad time. The EPG is not defunct, it has been set at a £3,000pa level for typical customer. Have you taken that into account?

Mstty

Technically your gas bill won't be going up it was always going to cost that on your fix?

Have you phoned them to see if you can switch to the SVT for free without exit fees? 

michaels

jbuchanangb said:

You must have chosen to fix your rate for 2 years at quite a bad time. The EPG is not defunct, it has been set at a £3,000pa level for typical customer. Have you taken that into account?

Apparently not - it only reduces bills if the SVR/cap is over 3k not any individual tariff that happens to be over 3k.

D924

I hope you're not planning on not just paying the £300 and getting out of those atrocious rates?

michaels

D924 said:

I hope you're not planning on not just paying the £300 and getting out of those atrocious rates?

My average electricity cost is 9p per unit so it is not a no-brainer

[Deleted User]

Hi,

michaels said:

Electricity is a day/night rate that won't change.

why do you need this when you have gas?

Raxiel

frugalmacdugal said:

Hi,

michaels said:

Electricity is a day/night rate that won't change.

why do you need this when you have gas?

Heating isn't the only application for overnight electricity. If you can shift the bulk of your usage to the off peak period, either with behaviour or a battery, E7 or other ToU tariffs make sense.

Richard019

michaels said:

Dual fuel fix, £300 fee to exit before May 24.  Demise of the EPG mean my gas unit price goes up form 10.3p to 13.4p.  Electricity is a day/night rate that won't change.

Anyone else likely to see a bigger increase in July?

Not in July, but in August my combined standing charge is due to go up 76%, my electric units up 60%, and my gas units up 128%. I feel like my provider might have spent the last 2 years regretting giving (via Quidco) £240 to people switching to a fixed tariff in summer 2021.

michaels said:

jbuchanangb said:

You must have chosen to fix your rate for 2 years at quite a bad time. The EPG is not defunct, it has been set at a £3,000pa level for typical customer. Have you taken that into account?

Apparently not - it only reduces bills if the SVR/cap is over 3k not any individual tariff that happens to be over 3k.

That sounds right. The EPG is set at a level to bring the SVR down to £2.5k (from July £3k). The same level of subsidy is then applied to other tariffs' rates regardless of how much higher they are* so you could still be paying higher if you were on a terrible tariff. If the SVR is below the EPG then the levels of subsidy are all zero, so no other tariffs would be subsidised either

*maximum subsidy being to bring it to £2.5k

bristolleedsfan

michaels said:

Dual fuel fix, £300 fee to exit before May 24.  

What bill credit sweetener did you get when you took the fixed rate?

billy2shots

michaels said:

Dual fuel fix, £300 fee to exit before May 24.  Demise of the EPG mean my gas unit price goes up form 10.3p to 13.4p.  Electricity is a day/night rate that won't change.

Anyone else likely to see a bigger increase in July?

I can beat those price increases. I would wager I could bear 99% of forum members. 

1/4 bill just arrived. 2022 same period = £362

1\4 bill 2023 = £6,690

That's a 1800% increase. 

(This is for my 9 bed care home. 0% increase in fees from the local authority so far this year)