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Gas and Electricity Prices

Discussion in 'off topic' started by gordonscobie, Sep 14, 2021.

  1. Rana

    Rana pfm Member

    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.
     
  2. Bob McC

    Bob McC Living the life of Riley

    That’s why Avro went bust.
     
  3. Rug Doc

    Rug Doc pfm Member

    Check your DDs - I had British Gas setup a second Direct debit last month and they took my £257 monthly standing order TWICE!!
     
    mikemusic likes this.
  4. Bob McC

    Bob McC Living the life of Riley

    Energy price cap going up to £2800 in Oct
    Ouch!
     
  5. Caledon1297

    Caledon1297 pfm Member

    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. :(
     
  6. Tony L

    Tony L Administrator

    Energy price cap: Typical energy bill set to rise £800 a year in October” (BBC).
     
  7. Caledon1297

    Caledon1297 pfm Member

  8. mansr

    mansr Objectionist

    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.)
     
  9. Caledon1297

    Caledon1297 pfm Member

    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?
     
  10. lordsummit

    lordsummit Moderator

    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.
     
    matt j likes this.
  11. clivem2

    clivem2 pfm Member

    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.
     
  12. lordsummit

    lordsummit Moderator

    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.
     
  13. Ponty

    Ponty pfm Member

    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.
     
  14. jwb5463

    jwb5463 pfm Member

    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...
     
    Sue Pertwee-Tyr and lordsummit like this.
  15. Seeker_UK

    Seeker_UK Is this all there is?

    You can remind them of that when they're queuing up at the food bank. It might cheer them up a bit. ;)
     
    lordsummit likes this.
  16. Mike Reed

    Mike Reed pfm Member

    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.
     
  17. Ponty

    Ponty pfm Member

    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.
     
  18. matt j

    matt j pfm Member

    There's nothing as permanent as a 'temporary measure' - I can see the same happening with petrol and diesel.
     
    lordsummit likes this.
  19. matt j

    matt j pfm Member

    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.
     
  20. lordsummit

    lordsummit Moderator

    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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