There was a lady on the Radio this morning who was extremely clued up, she said even if the gas was all North Sea it would still be expensive because the rate is set by the market, although I bet Putin is indeed smirking away.
Gas and Electricity Prices
- Thread starter gordonscobie
- Start date
There was a lady on the Radio this morning who was extremely clued up, she said even if the gas was all North Sea it would still be expensive because the rate is set by the market, although I bet Putin is indeed smirking away.
MikeMA
pfm Member
When my previous fixed price deal ended in September I signed up with Shell Energy for a new 18 month fix. I knew the fixed rate was slightly higher than the SVR, but I calculated that it would save me money over its life, given that wholesale prices were already rising and the cap was likely to rise at least twice during that period. However, despite me having written confirmation of the fixed rate 18 month contract, my bills show I am now being charged the slightly lower SVR. I'm sitting tight and waiting to see what happens when the capped rates are increased in Apri and overtake the fix I signed up to. Anyone else in a similar position?
Actually I have just checked, and even though I fixed to a higher rate the first DD payment has been the same as my previous deal. So I've no idea what is going on.
MikeMA
pfm Member
It's not really the DD you need to look at but the actual rate/kWh you are being charged. Shell have lowered my DD even though I'm paying a higher rate/kWh because I have a huge credit and my consumption has declined relative to last year.
Going back to my original point, I've a feeling that most fixed rate deals have now been withdrawn or suspended which is why I'm paying the lower SVR. Not sure if this is just Shell Energy or across all suppliers. In my case it looks like a win win and too good to be true: we shall see.
MikeMA
pfm Member
Yes it is confusing.
I think they - whoever 'they' are - use a figure based on some sort of average household consumption rate, so they should qualify it by stating "for the average household" or whatever it actually is.
this is interesting - well I think so
: www.onaverage.co.uk
Heckyman
pfm Member
I think the Chinese saw what was coming sooner and outbid us. Plus a cold snap in Russia and oooops, oh dear, no gas left for Europe.
Enfield boy
pfm Member
Yebbut giving away BNFL would've been a scandal were it not for cheap gas. Some people got rich quick and screw the rest of us.
Darth Vader
From the Dark Side
I guess it depends where you live. I am on the SE coast so its not as cold in Winter as say for someone who lives n Northern Scotland. However my fixed rate tariff for this 5 bed detached house is £123 a month.
Heating is gas and thats around 6 times cheaper than using electricity. The heating is a weather compensated system with individual temperature control for each room so doesn't waste unnecessary heat. Also controlled via a smart iOS/Android device app oh! and an Android VM on my computers.......
How much is your gas per KWh? Mine is 2.549p plus VAT well at least until next July.
Cheers,
DV
mansr
Objectionist
48% at the moment according to https://grid.iamkate.com/
Darth Vader
From the Dark Side
Well that link says that I should be using around 31,500KWh when in reality is around 13,000. Lies, damn lies and statistics eh?Yes it is confusing.
I think they - whoever 'they' are - use a figure based on some sort of average household consumption rate, so they should qualify it by stating "for the average household" or whatever it actually is.
this is interesting - well I think so
In a way just like Covid scaremongering.
Cheers,
DV
MikeMA
pfm Member
Really? Average figures quoted for 4 bed house are very close to my actual consumption. YMMV of course, but hardly scaremongering and I fail to see any connection with Covid.
I'm about £130 for 5 bed house (Central Scotland) using gas as heating. Your £270 seems really high.
Mike Reed
pfm Member
I'd say that was cheaper than even before prices started edging up around July, so it looks like you're on a 1 year fixed. Unfortunately I didn't understand the arcane Octopus moving feast which was my 1 yr fxd expiry reminder in late July (for 1st Oct. maturity) so didn't fix until a month or so later, when the 24 month fix had already gone up by over £100 a year (est. based upon my previous usage)
Electrical units are easy; what you read on your meter is the kW you've used. Gas is bloody awkward as it's still charged in therms (or is the kWh?) but the meter reads the other measure. Of course there's a formula but it's disconcerting to see many more (x2+?) 'units' charged for than your meter reads.
I do NOW believe, as I wasn't convinced before, the my 2 year fix will pay dividends; it's still lower than the cap, however that is administered, but I'm probably a fairly low user anyway.
The thing which annoys me is that the standing charges have, to my mind, no relevance at all to the energy costs, yet they go up with every increase. It's a big con, just like the telephone st. charge, as without the infrastructure, they couldn't sell you their products !!!!!!
gingermrkettle
Deep vein trombonist
While it is electricity rather than gas, the Octopus Go standing charges have gone down by 7p a day compared to what we are on currently. While the peak rate has gone up by around 10p a unit, we have a battery so the net effect is around £6 a year increase overall.
MikeMA
pfm Member
I don't think you meant to quote me? I never mentioned how much I was paying.
My average annual consumption over the last five years is: Gas 23,000 kWh; Elec 3,000 kWh;
Water 150 metric tonnes. This for a 4 bed house with two people most of the time.
Darth Vader
From the Dark Side
And without that very very very expensive infrastructure you'd have no supply.I'd say that was cheaper than even before prices started edging up around July, so it looks like you're on a 1 year fixed. Unfortunately I didn't understand the arcane Octopus moving feast which was my 1 yr fxd expiry reminder in late July (for 1st Oct. maturity) so didn't fix until a month or so later, when the 24 month fix had already gone up by over £100 a year (est. based upon my previous usage)
Electrical units are easy; what you read on your meter is the kW you've used. Gas is bloody awkward as it's still charged in therms (or is the kWh?) but the meter reads the other measure. Of course there's a formula but it's disconcerting to see many more (x2+?) 'units' charged for than your meter reads.
I do NOW believe, as I wasn't convinced before, the my 2 year fix will pay dividends; it's still lower than the cap, however that is administered, but I'm probably a fairly low user anyway.
The thing which annoys me is that the standing charges have, to my mind, no relevance at all to the energy costs, yet they go up with every increase. It's a big con, just like the telephone st. charge, as without the infrastructure, they couldn't sell you their products !!!!!!
All infrastructures are expensive to install and costly to run and maintain so be grateful! The stuff that goes through or over this you pay for what you use. Very simple really.
Cheers,
DV