Energy regulator Ofgem has this morning announced the Energy Price Cap will rise by 5%

Lady0fdragons

Standing charge is cheaper for electric but otherwise above the cap

Lady0fdragons

MultiFuelBurner said:

Lady0fdragons said:

Is it worth fixing before January? 

Would you consider the tracker tariff with Octopus but you have to have smart meters.

Savings of 20-35% over the price cap over the last 365 days 

I will have a look. Is the savings in the last 365 due to anything else effecting it though? 

badmemory

If they know the average prices for all 4 categories why can they not announce the prices per area.  They must know.  Unless they are just doing a lazy job & leaving it to someone else to figure out which area pays what.  Or is it just exactly 5% on what you were paying before which seems far too simple.

bristolleedsfan

Lady0fdragons said:

Standing charge is cheaper for electric but otherwise above the cap

Screenshots showing new energy cap rates from 1 January are average regional rates hence you have cheaper standing charge and higher unit rates than some regions.

MultiFuelBurner

Lady0fdragons said:

MultiFuelBurner said:

Lady0fdragons said:

Is it worth fixing before January? 

Would you consider the tracker tariff with Octopus but you have to have smart meters.

Savings of 20-35% over the price cap over the last 365 days 

I will have a look. Is the savings in the last 365 due to anything else effecting it though? 

The savings include the current Israel war and other things that have happened this year so resilient so far.

The last 365 days savings also include what was considered the highest period last December so I am currently saying it's a good bet for anyone wanting to slash their bills. 

bristolleedsfan

Lady0fdragons said:

MultiFuelBurner said:

Lady0fdragons said:

Is it worth fixing before January? 

Would you consider the tracker tariff with Octopus but you have to have smart meters.

Savings of 20-35% over the price cap over the last 365 days 

I will have a look. Is the savings in the last 365 due to anything else effecting it though? 

 https://octopus.energy/smart/tracker/

Spoonie_Turtle

MultiFuelBurner said:

Lady0fdragons said:

MultiFuelBurner said:

Lady0fdragons said:

Is it worth fixing before January? 

Would you consider the tracker tariff with Octopus but you have to have smart meters.

Savings of 20-35% over the price cap over the last 365 days 

I will have a look. Is the savings in the last 365 due to anything else effecting it though? 

The savings include the current Israel war and other things that have happened this year so resilient so far.

The last 365 days savings also include what was considered the highest period last December so I am currently saying it's a good bet for anyone wanting to slash their bills. 

In the interests of full accuracy though, that was with the EPG so we didn't pay above the cap for more than a handful of days (and even then, only just, by like 1p or less).  Without the EPG we'd have saved less, but still saved a fair % against the SVT over the rest of the year anyway.

Probably we won't get the exact same circumstances all colliding to reproduce that spike, but nobody can rule out another freak set of circumstances to cause another one.  But of course if that happens people can freely jump back onto the SVT if they don't want to take the risk of how long any such spike were to last.

MultiFuelBurner

Spoonie_Turtle said:

MultiFuelBurner said:

Lady0fdragons said:

MultiFuelBurner said:

Lady0fdragons said:

Is it worth fixing before January? 

Would you consider the tracker tariff with Octopus but you have to have smart meters.

Savings of 20-35% over the price cap over the last 365 days 

I will have a look. Is the savings in the last 365 due to anything else effecting it though? 

The savings include the current Israel war and other things that have happened this year so resilient so far.

The last 365 days savings also include what was considered the highest period last December so I am currently saying it's a good bet for anyone wanting to slash their bills. 

In the interests of full accuracy though, that was with the EPG so we didn't pay above the cap for more than a handful of days (and even then, only just, by like 1p or less).  Without the EPG we'd have saved less, but still saved a fair % against the SVT over the rest of the year anyway.

Probably we won't get the exact same circumstances all colliding to reproduce that spike, but nobody can rule out another freak set of circumstances to cause another one.  But of course if that happens people can freely jump back onto the SVT if they don't want to take the risk of how long any such spike were to last.

Indeed and many......many.....many....other caveats

But if we hadn't taken the plunge and seen.the month on month savings without any real full investigation (whoops)

It's a dive in and save sort of tariff and learn as you go along.

Personal mission is to save people money on their energy bills.

MSE_ForumTeam5

We've combined the two price cap threads (which means people coming to the forum from the link at the bottom of the news story will find the related discussion in one place)

t0rt0ise

pfpf said:

i know i should have links to most stuff by now but is it too early to see a regional breakdown of costs anywhere??

Scroll down a bit here for regional costs.. https://www.ofgem.gov.uk/information-consumers/energy-advice-households/get-energy-price-cap-standing-charges-and-unit-rates-region