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Thread: Energy prices

  1. #1
    Craftsman
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    Energy prices

    Has anyone else had the horror email yet from their supplier? I had mine from Octopus yesterday, explaining that my bill is set to go from £1500 a year to £4500. Absolutely crazy. The 54% price cap only applies to those still within a fixed term.

    Also, any idea of just using less energy and popping another jumper on is killed when you realise they’ve put the price rise in the standing charges, not the unit price. You’ll still get stung even if you never turn it on.

    How the hell people on the breadline will survive this is well and truly beyond me.


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  2. #2
    Master
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    That seems a bit(!!) high. My Octopus estimate is around 50% higher not 300%.

  3. #3
    Grand Master Onelasttime's Avatar
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    Quote Originally Posted by tabascokid View Post
    Has anyone else had the horror email yet from their supplier? I had mine from Octopus yesterday, explaining that my bill is set to go from £1500 a year to £4500. Absolutely crazy. The 54% price cap only applies to those still within a fixed term.

    Also, any idea of just using less energy and popping another jumper on is killed when you realise they’ve put the price rise in the standing charges, not the unit price. You’ll still get stung even if you never turn it on.

    How the hell people on the breadline will survive this is well and truly beyond me.


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    Eh? The 54% rise in the price cap is applicable to everyone on a variable contract and is set as the maximum rate a provider can charge you.

    Unless you're just coming to the end of a fixed term contract, the figures Octopus have given you sound wrong?

  4. #4
    Monster TZ energy price thread here too: https://forum.tz-uk.com/showthread.p...hlight=Octopus

  5. #5
    Master RLE's Avatar
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    Yes, the standing charges have increased, but that figure over the year is insignificant when comparing it to the unit price, which in our case has doubled.

  6. #6
    Master jukeboxs's Avatar
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    A lengthy thread on this already. Might be worth you have a read and familiarising yourself.

    https://forum.tz-uk.com/showthread.php?499647

  7. #7
    Craftsman
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    Ah cheers. I guessed it would have been discussed but I couldn’t see one when I searched.

    @onelasttime Sadly, that’s exactly it. My fixed term ends on the 22nd so they’re absolutely hammering me.


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  8. #8
    Quote Originally Posted by tabascokid View Post
    Ah cheers. I guessed it would have been discussed but I couldn’t see one when I searched.

    @onelasttime Sadly, that’s exactly it. My fixed term ends on the 22nd so they’re absolutely hammering me.


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    Well not really, you were on a (relatively) good deal, now you’ll be paying the same as us!

  9. #9
    Master TKH's Avatar
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    I received a letter from Octo and this is a snapshot of where their / my charges will be going forward once April 2nd arrives based on variable tariff
    can't see why you would be getting charged anymore than the CAP rate unless you are commercial as I understand commercial / business charges are Un-Capped ??


  10. #10
    Grand Master Onelasttime's Avatar
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    Quote Originally Posted by Kingstepper View Post
    Well not really, you were on a (relatively) good deal, now you’ll be paying the same as us!
    Exactly! Still a bloody big shock though.

    We're spending this year doing everything we can think of to make the house as insulated and future proof as we possibly can – insulating the garage, building a proper brick frontage instead of the garage door, putting in sliding doors to make rooms smaller, thick thermal curtains, false roof and insulation in the room above the garage, new back and front doors.

    We should look into replacing all the windows but the previous owners only had them reglazed in 2020.

    And we need to investigate a better boiler system as well. The current set up is over 20 years old with a megaflo hot water tank from the 80s. It all works but I'm sure it could work a lot better.

    It's going to hurt

  11. #11
    Try as I might, I can't find out what my new elec/gas tariff is going to be. I've played on SSE's website, but all I can see is their fixed price deals, which on my usage they are quoting me 4 times more than I currently pay. £206pm -> £827pm.

    Clearly I am going to stay on the price capped rate, but I don't know what that's going to be. I'm guessing ~£300 a month which is where I was a year ago before installing new boiler/hive/thermostats.

  12. #12
    Master
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    I fixed my tariff back in May last year does not end till May 23 but I was paying £175 a month since last May. Gonna rise next

  13. #13
    Craftsman
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    Quote Originally Posted by guinea View Post
    Try as I might, I can't find out what my new elec/gas tariff is going to be. I've played on SSE's website, but all I can see is their fixed price deals, which on my usage they are quoting me 4 times more than I currently pay. £206pm -> £827pm.

    Clearly I am going to stay on the price capped rate, but I don't know what that's going to be. I'm guessing ~£300 a month which is where I was a year ago before installing new boiler/hive/thermostats.
    My price capped options are only slightly lower than the totally unlimited variable option. It’s an absolute no win situation.


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  14. #14
    Master Christian's Avatar
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    The standing charges have been raised to cover all the energy suppliers that went bust. You’ll notice the big increase has purposely been put onto electricity because not everyone has gas. It feels like those who went for cheap but shaky middlemen companies have had the benefit from cheap deals and also had their risk covered by everyone else. As someone who didn’t go for cheap companies on the basis that they looked shaky, I should have known the rules of the game better and just used them in the past.

    In actual fact, even though it does look like a horrendous increase in standing charge, it’s still only a 20p per day rise. It makes about £6 difference per month which is peanuts when you look at the gas unit rate increase…that’s the real killer.

    Bizarre that energy prices per month are now becoming comparable to mortgage payments for some!

    Wait until you see next Octobers 25% increase on the April price cap. We’d better pray for a mild 2022 winter!
    Last edited by Christian; 21st March 2022 at 23:09.

  15. #15
    Master
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    But does it really matter if it’s mild because I’m sure we will be hit by crazy standing charge - combined mines £20 a month without turning anything on

  16. #16
    Master Christian's Avatar
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    Quote Originally Posted by lewie View Post
    But does it really matter if it’s mild because I’m sure we will be hit by crazy standing charge - combined mines £20 a month without turning anything on
    What's rubbish about it is that it's been increased to pay for those companies that went bust. I also think we're paying for the rushed SMETS1 rollout over the last few years which now need replacing with SMETS2 because the original meters were so crap but it was critical to have them immediately because the government said so.

    £20 is pretty small still when you look at gas prices from April. I know that a 30 minute heating boost costs me £1 which barely raises the inside temperature by 1 degree!
    Last edited by Christian; 22nd March 2022 at 00:10.

  17. #17
    My electricity contact runs out next month, currently paying £200 a month and the new fixed deal is £880 a month!!! 48p standing charge and 55p unit rate

    I believe I can let the fixed expire then I would go onto the government capped rate which is 45p standing rate and 28p unit rate - so this should come in much cheaper, I need to ring Scottish Power in a few weeks before it expires and see what will happen.

  18. #18
    Grand Master Onelasttime's Avatar
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    Quote Originally Posted by NikGixer750 View Post
    My electricity contact runs out next month, currently paying £200 a month and the new fixed deal is £880 a month!!! 48p standing charge and 55p unit rate

    I believe I can let the fixed expire then I would go onto the government capped rate which is 45p standing rate and 28p unit rate - so this should come in much cheaper, I need to ring Scottish Power in a few weeks before it expires and see what will happen.
    Unless thay can offer you a better fixed, which I doubt, just let it expire and go to variable. The whole thing's a sick joke at our expense.

  19. #19
    Master Christian's Avatar
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    Quote Originally Posted by NikGixer750 View Post
    My electricity contact runs out next month, currently paying £200 a month and the new fixed deal is £880 a month!!! 48p standing charge and 55p unit rate

    I believe I can let the fixed expire then I would go onto the government capped rate which is 45p standing rate and 28p unit rate - so this should come in much cheaper, I need to ring Scottish Power in a few weeks before it expires and see what will happen.
    Dont worry, Rishi is giving us all a £150 loan in October. That’ll cover less than a weeks worth of energy.

    That electricity unit price is nuts. I just fixed on a Scottish Power “exclusive” deal for long term customers and got 21p standing charge, 28p unit rate but I think I got lucky as this was the week before Ukraine kicked off. £880 a month…that literally is mortgage payment territory!

  20. #20
    Quote Originally Posted by Christian View Post
    Dont worry, Rishi is giving us all a £150 loan in October. That’ll cover less than a weeks worth of energy.

    That electricity unit price is nuts. I just fixed on a Scottish Power “exclusive” deal for long term customers and got 21p standing charge, 28p unit rate but I think I got lucky as this was the week before Ukraine kicked off. £880 a month…that literally is mortgage payment territory!
    Its going to affect us massively to be honest, going to have to cut back on a lot of things just to keep the house warm. I can only see this and all the other current increases in costs forcing many people to be losing money each month.

    Annoyingly I logged on just before Ukraine and saw a deal for circa £400 a month and never got around to accepting it, hindsight is a wonderful thing.

  21. #21
    Master jukeboxs's Avatar
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    Quote Originally Posted by Christian View Post
    Dont worry, Rishi is giving us all a £150 loan in October. That’ll cover less than a weeks worth of energy.

    That electricity unit price is nuts. I just fixed on a Scottish Power “exclusive” deal for long term customers and got 21p standing charge, 28p unit rate but I think I got lucky as this was the week before Ukraine kicked off. £880 a month…that literally is mortgage payment territory!
    It's even better than that, it's £200 not £150. Those are good rates from SP, better than my loyalty rates from Octopus - you did (relatively) well there.

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