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Gas and Electricity Prices

Bill with former supplier Avro was £154/month combined for gas and electricity. Just got this month's statement from Octopus - it's working out at 2.2x previous monthly rate.
 
Energy price cap going up to £2800 in Oct
Ouch!

The current evaluation period runs until the end of July, so the 'price cap' hasn't been set yet - this is just a best guesstimate from the head of Ofgem, based upon the past 4 months, so still time for things to change... However, whatever it's finally set at, it's unlikey to be good news. :(
 
Again with the useless absolute figures. Give me the actual rules so I can work out how _I_ will be impacted.

(Directed at the press, not Tony.)

MSM are useless, as normal, but the 'price cap' won't be set until August, so there aren't any useful figures (unit rates & standing charges) to calculate for your own circumstances, yet.

I suppose you could simply look at your current estimated annual cost, and increase it by 42%, for an idea of how you might be impacted by a 'price cap' of £2800?
 
Trying to work out where we could be come February when our fixed tariff ends. Currently paying about £250. It was fixed in Feb 2021. Seeing as I’ve not seen any of the increases am I really looking at double that? This is scary stuff.
 
Trying to work out where we could be come February when our fixed tariff ends. Currently paying about £250. It was fixed in Feb 2021. Seeing as I’ve not seen any of the increases am I really looking at double that? This is scary stuff.
Our fix was around £220. I’m now paying the £450 EDF think I need to pay. Much depends on how much gas we use next winter. We’ve cut our electricity use as much as is viable.

The government should use a windfall tax to pay off the bust companies rather than the electricity standing charge being so high, which costs us all a lot and feeds into inflation as industry, shops, hospitality etc pay more too.
 
These are scary times, I’m reckoning we may well face a 100% increase, as we’ll have missed being included in both price cap increase.
 
Our fix was around £220. I’m now paying the £450 EDF think I need to pay. Much depends on how much gas we use next winter. We’ve cut our electricity use as much as is viable.

The government should use a windfall tax to pay off the bust companies rather than the electricity standing charge being so high, which costs us all a lot and feeds into inflation as industry, shops, hospitality etc pay more too.

The standing charges are getting daft. The challenge is, the population as a whole have benefited from unsustainably cheap pricing from companies who’ve gone bust. If the sustainable companies have to cover the bad companies losses, these will be recouped one way or another from you know where.

Those whose bills are jumping 2X, 3X etc, whilst a shock, are probably ahead of the game overall based on what they’re using, having benefited from lower pricing for longer.
 
Those whose bills are jumping 2X, 3X etc, whilst a shock, are probably ahead of the game overall based on what they’re using, having benefited from lower pricing for longer.

You can remind them of that when they're queuing up at the food bank. It might cheer them up a bit. ;)
 
Increasing standing charges are being foisted on sitting ducks. It's no longer a poultry amount and I cry "fowl play" !

Notwithstanding the former, they should be part and parcel of usage.
 
You can remind them of that when they're queuing up at the food bank. It might cheer them up a bit. ;)

An estimated 12M households will be in ‘fuel poverty’ come the autumn. As I understand it, that means fuel is more than 10% of disposable income. Lots of people seem to be talking about £300 a month energy bills, meaning if they have less than £3K a month disposable income, they are in fuel poverty. I’d call £3K a month disposable a very comfortable income indeed, which might require a bit of budget reprioritisation but wouldn’t associate with poverty.
 
So after a year or two, when the remaining companies have recouped the cost of covering the failed ones, the standing charges will be reduced back down to previous levels?
Hands up who thinks that's going to happen...

There's nothing as permanent as a 'temporary measure' - I can see the same happening with petrol and diesel.
 
I too am on a fixed deal previous to the last cap rise so the next one will bite. Thankfully I'm not nesh and live in a very modern/well insulated gaff that costs buttons to run, even less thanks to the secondary heating effect of my downstairs neighbour who doesn't know how to set his heating timer judging by the flu.
 
The standing charges are getting daft. The challenge is, the population as a whole have benefited from unsustainably cheap pricing from companies who’ve gone bust. If the sustainable companies have to cover the bad companies losses, these will be recouped one way or another from you know where.

Those whose bills are jumping 2X, 3X etc, whilst a shock, are probably ahead of the game overall based on what they’re using, having benefited from lower pricing for longer.

I probably fall into that category, we have a household income of about £3800 a month, £1000 on a mortgage, £700 on food, another £700 on running two cars, £300 on council tax and insurance, another £400 on piano lessons and gymnastics for the kids. Life insurance, broadband, phones, TV another £200 or so. £200 put aside for holidays. That’s then the utilities left. We’re comfortable, but won’t be if our energy doubles. No real obvious way to trim it down either. Old house, kids etc. we’ll easily fit into the fuel poverty category and we earn decent money. How the hell are those less well off going to survive? I won’t book a holiday, probably will look what else can be saved, we can cope, but not comfortable.

It’s all very well pontificating we’re having it good, for I guess millions of people this is going to be the what don’t I pay moment. Cue the crash in PCP finance, consumer debt through the roof. There will be people on the streets if it’s a decent summer. Those who work in the public sector have barely had a pay rise since 2010. I can see a winter of discontent coming up.
 


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