and that's if I get out of cheaper deal now and forego £150-£200 with 2 months left on my existing deal to take up that amazing offer... 
email from the supplier with the offer only states...The energy price cap is backstop protection from the government, calculated by Ofgem.
It applies if you’re on a default energy tariff, whether you pay by direct debit, standard credit or a prepayment meter.
It won’t apply if you:
are on a fixed-term energy tariff
have chosen a standard variable green energy tariff Ofgem has exempted from the cap.
Money Saving expert suggest at the end of the deal that my tariff will automatically resort to their standard tariff.Of course, if you choose to stay on your current tariff, we'll be in touch before your renewal date to let you know what happens next.
Yep. End of January. The standard variable rate is controlled by the price cap so once that increases (April) it will likely go up substantially.Insane_Homer wrote: ↑Wed Jan 05, 2022 1:58 pm Anyone else got their renewals coming up?
Cheapest quote I've got so far is £1174 more than last year
Strangely, and what they've failed to mention, is that if I let my current deal lapse to their standard variable rate, it's £338 cheaper pa at my current usage
There are no switchable deals meaningfully cheaper than the price cap. We are in the perverse situation where there is nothing meaningfully cheaper than the default price you go to when a deal ends (or if you've never switched). Even though the regulator’s price cap jumped by 12% on Friday 1 October, it is still set substantially below the current cost price of energy – the main reason so many firms are going bust.
If / when you come off a fix, you will pay a lot more. There’s no getting away from this I’m afraid. Many coming off cheap fixes will find themselves paying up to 50% more than they were – when they move to the price cap – but there is currently no solution. If you do want to fix you’ll pay even more as the current cheapest fix is 30% higher than the price cap, so for most the premium isn’t worth it.
Consider the price cap a ‘six-month fix’. The new price cap rate is locked in until 1 April 2022, and it will almost certainly rise substantially again then (see why in price cap FAQs). So for the moment consider it a six-month fix, at the market’s cheapest available rate, which you can leave penalty-free at any time.
The parties over. The stations built by the state are nearing end of life. It's an industry I've worked in and take a keen interest in. I had a good look at what was going on and decided to update my insulation, get a load of solar panels and a battery. Hopefully electricity will decouple from gas prices and I will then replace my efficient gas boiler with an air source heat pump. The energy transition was always going to be interesting.tabascoboy wrote: ↑Wed Jan 05, 2022 4:34 pm My fixed price gas tariff ends in April, hoping that the energy crisis is solved before then or else the price rise will be colossal. Fortunately consumption will have dropped hugely by then.
Could be a big headache for the government, while there isn't much they can do to resolve the bigger issues in the short term there's potential for a lot of anger if energy bills go up as much as has been forecast - and just shrugging shoulders and shouting "free market economics will fix it" isn't going to cut it. They could for example drop VAT charges on energy bills or help out those on low pay with some other scheme.
Meanwhile, the energy industry having seen Government dishing out money here there and everywhere in the last two years will expect a piece of that pie too.
I think vat is 5% if you get panels as well as the battery but 20% otherwise though they keep on messing around with this stuff.Raggs wrote: ↑Wed Jan 05, 2022 5:40 pm Last Sept, I switched my mum onto a 2.5yr fix. Wasn't as low as the tracker, but not too far off, had a hunch that whilst the advice was still wait and see, it would change. I think within a week that deal was no longer available, and things only seem to be getting worse.
Hoping to get a battery installed in our new place, and try and get on octopus for cheap charging in the small hours.
)Going to wait until we know how much all the new kitchen etc is going to cost, and how much we'll have left in terms of savings, to see what we can do. We've got east/west facing roof, which is frustrating, but I'm thinking a split system with panels on both sides. Unfortunately 3.6kw is the max inverter allowed, but if we go for a 4.8kw system, it should give us a decent amount of power across a lot of the day. Then I've seen 8.2kwh batteries for just over £2k, which isn't too shabby at all, especially if I can buy electricity at just 5p an hour in the early hours, and fill it with that.petej wrote: ↑Wed Jan 05, 2022 6:50 pmI think vat is 5% if you get panels as well as the battery but 20% otherwise though they keep on messing around with this stuff.Raggs wrote: ↑Wed Jan 05, 2022 5:40 pm Last Sept, I switched my mum onto a 2.5yr fix. Wasn't as low as the tracker, but not too far off, had a hunch that whilst the advice was still wait and see, it would change. I think within a week that deal was no longer available, and things only seem to be getting worse.
Hoping to get a battery installed in our new place, and try and get on octopus for cheap charging in the small hours.
Max inverter thing is bollocks if going to battery though most solar installers are pretty confident about getting go ahead for bigger inverter outputs from grid. Go for mini inverters or optimisers with panels on both sides. I've got a 5.7 kw array solar edge inverter +optimisers though output is capped at 3.7kw (when the inverter goes I will replace it with one that allows the full output) the plus of the bigger array is even on more shitty days you get something and quite frankly on sunny days you won't give a shit. Battery wise I have a sonnen10 11kwh. Battery I got within the last year panels nearly 4 years ago just before the feed in tariff was killed off. Should have got them at the same time. Got the array before doing the kitchen not sure the wife was happy about that.Raggs wrote: ↑Wed Jan 05, 2022 8:25 pmGoing to wait until we know how much all the new kitchen etc is going to cost, and how much we'll have left in terms of savings, to see what we can do. We've got east/west facing roof, which is frustrating, but I'm thinking a split system with panels on both sides. Unfortunately 3.6kw is the max inverter allowed, but if we go for a 4.8kw system, it should give us a decent amount of power across a lot of the day. Then I've seen 8.2kwh batteries for just over £2k, which isn't too shabby at all, especially if I can buy electricity at just 5p an hour in the early hours, and fill it with that.petej wrote: ↑Wed Jan 05, 2022 6:50 pmI think vat is 5% if you get panels as well as the battery but 20% otherwise though they keep on messing around with this stuff.Raggs wrote: ↑Wed Jan 05, 2022 5:40 pm Last Sept, I switched my mum onto a 2.5yr fix. Wasn't as low as the tracker, but not too far off, had a hunch that whilst the advice was still wait and see, it would change. I think within a week that deal was no longer available, and things only seem to be getting worse.
Hoping to get a battery installed in our new place, and try and get on octopus for cheap charging in the small hours.
Unfortunately I'm on the isle of wight. Been told by local companies that no one gets permission for anything over 3.6, since the infrastructure to the mainland can't cope with it. Maybe in the past 2 years that's magically changed, but I really doubt it!petej wrote: ↑Thu Jan 06, 2022 12:03 amMax inverter thing is bollocks if going to battery though most solar installers are pretty confident about getting go ahead for bigger inverter outputs from grid. Go for mini inverters or optimisers with panels on both sides. I've got a 5.7 kw array solar edge inverter +optimisers though output is capped at 3.7kw (when the inverter goes I will replace it with one that allows the full output) the plus of the bigger array is even on more shitty days you get something and quite frankly on sunny days you won't give a shit. Battery wise I have a sonnen10 11kwh. Battery I got within the last year panels nearly 4 years ago just before the feed in tariff was killed off. Should have got them at the same time. Got the array before doing the kitchen not sure the wife was happy about that.Raggs wrote: ↑Wed Jan 05, 2022 8:25 pmGoing to wait until we know how much all the new kitchen etc is going to cost, and how much we'll have left in terms of savings, to see what we can do. We've got east/west facing roof, which is frustrating, but I'm thinking a split system with panels on both sides. Unfortunately 3.6kw is the max inverter allowed, but if we go for a 4.8kw system, it should give us a decent amount of power across a lot of the day. Then I've seen 8.2kwh batteries for just over £2k, which isn't too shabby at all, especially if I can buy electricity at just 5p an hour in the early hours, and fill it with that.
Exactly the same situation with myself. Can always trust big business to take advantage of a crisis.Insane_Homer wrote: ↑Wed Jan 05, 2022 1:58 pm Anyone else got their renewals coming up?
Cheapest quote I've got so far is £1174 more than last year
Strangely, and what they've failed to mention, is that if I let my current deal lapse to their standard variable rate, it's £338 cheaper pa at my current usage
Yup. Not privatisation at all. Just privatising profits and nationalising debts/losses.I like neeps wrote: ↑Thu Jan 06, 2022 1:06 pm The FT is reporting today that if the price cap raises 50% as is widely expected the cost of gas and electricity for a typical UK energy consumer will rise from £1,277 to £2,000 per year which will increase inflation from 5.1% currently to 6.3%! (The UK govt could decide to remove this from the index as the labour govt did with housing of course). That's around 3% of disposable income after housing for an household in the middle of income distribution.
Yet another example of the heads we win tails you lose UK privatisation. Very sad for the people who won't be able to afford this.
This ethos, which crosses many areas in different ways, is what I despise about modern capitalism.Torquemada 1420 wrote: ↑Fri Jan 07, 2022 7:52 amYup. Not privatisation at all. Just privatising profits and nationalising debts/losses.I like neeps wrote: ↑Thu Jan 06, 2022 1:06 pm The FT is reporting today that if the price cap raises 50% as is widely expected the cost of gas and electricity for a typical UK energy consumer will rise from £1,277 to £2,000 per year which will increase inflation from 5.1% currently to 6.3%! (The UK govt could decide to remove this from the index as the labour govt did with housing of course). That's around 3% of disposable income after housing for an household in the middle of income distribution.
Yet another example of the heads we win tails you lose UK privatisation. Very sad for the people who won't be able to afford this.
The companies are only happy when the cash is rolling in unchecked and profit forecasts suggest huge dividends for the lucky few, as soon as things get a bit hairy they want to run to mommyTorquemada 1420 wrote: ↑Fri Jan 07, 2022 7:52 amYup. Not privatisation at all. Just privatising profits and nationalising debts/losses.I like neeps wrote: ↑Thu Jan 06, 2022 1:06 pm The FT is reporting today that if the price cap raises 50% as is widely expected the cost of gas and electricity for a typical UK energy consumer will rise from £1,277 to £2,000 per year which will increase inflation from 5.1% currently to 6.3%! (The UK govt could decide to remove this from the index as the labour govt did with housing of course). That's around 3% of disposable income after housing for an household in the middle of income distribution.
Yet another example of the heads we win tails you lose UK privatisation. Very sad for the people who won't be able to afford this.
I think they've been told off. I was looking at shell, eon and British gas yesterday and they removed all the tariffs saying that you are best off on the variable rate that is controlled by the price cap.tabascoboy wrote: ↑Thu Jan 06, 2022 1:31 pm I imagine energy companies will try to push anyone on a tariff which expires in the next few months onto one of the newer tariffs, but it's already about 50% increase. For example, my gas tariff which expires on 31st March is standing charge 26p per day and 3.5p per kW/h ( a damn good deal in the circumstances). All they offer now is standing charge 42p per day and 7.7p per kW/h!
Electricity not quite so bad but still a hefty increase, I'm on the standard variable for that as they won't offer a fixed rate tariff to non smart meter homes...
As a single low consumer my combined cost for gas and electricity is around £1 000 per year at the moment. Seeing others say theirs might increase by that much or more is quite a shock.
I am also on a decent fixed rate until April. British Gas sent me a scaremongering email encouraging me to sign up to a fixed rate to avoid the potential huge increases, however they insisted I signed up by the 20th December and moved immediately. The are absolute scumbags, happy to squeeze every penny out of the situation.petej wrote: ↑Fri Jan 07, 2022 12:46 pmI think they've been told off. I was looking at shell, eon and British gas yesterday and they removed all the tariffs saying that you are best off on the variable rate that is controlled by the price cap.tabascoboy wrote: ↑Thu Jan 06, 2022 1:31 pm I imagine energy companies will try to push anyone on a tariff which expires in the next few months onto one of the newer tariffs, but it's already about 50% increase. For example, my gas tariff which expires on 31st March is standing charge 26p per day and 3.5p per kW/h ( a damn good deal in the circumstances). All they offer now is standing charge 42p per day and 7.7p per kW/h!
Electricity not quite so bad but still a hefty increase, I'm on the standard variable for that as they won't offer a fixed rate tariff to non smart meter homes...
As a single low consumer my combined cost for gas and electricity is around £1 000 per year at the moment. Seeing others say theirs might increase by that much or more is quite a shock.
I had similar email from my supplier in early December but checking more recently the tariffs aren't available which is why i think they've been kicked by the regulator.Blackmac wrote: ↑Sat Jan 08, 2022 10:56 amI am also on a decent fixed rate until April. British Gas sent me a scaremongering email encouraging me to sign up to a fixed rate to avoid the potential huge increases, however they insisted I signed up by the 20th December and moved immediately. The are absolute scumbags, happy to squeeze every penny out of the situation.petej wrote: ↑Fri Jan 07, 2022 12:46 pmI think they've been told off. I was looking at shell, eon and British gas yesterday and they removed all the tariffs saying that you are best off on the variable rate that is controlled by the price cap.tabascoboy wrote: ↑Thu Jan 06, 2022 1:31 pm I imagine energy companies will try to push anyone on a tariff which expires in the next few months onto one of the newer tariffs, but it's already about 50% increase. For example, my gas tariff which expires on 31st March is standing charge 26p per day and 3.5p per kW/h ( a damn good deal in the circumstances). All they offer now is standing charge 42p per day and 7.7p per kW/h!
Electricity not quite so bad but still a hefty increase, I'm on the standard variable for that as they won't offer a fixed rate tariff to non smart meter homes...
As a single low consumer my combined cost for gas and electricity is around £1 000 per year at the moment. Seeing others say theirs might increase by that much or more is quite a shock.
Energy price cap to rise by £693, Ofgem announces
Here it is: Regulator Ofgem has announced that the energy price cap will rise by £693 in England, Wales and Scotland from April.
That will cause bills for the average customer to rise to £1,971.
As long as the flat at No.11 is redecorated at £150.00 a meter of wallpaper, all is well.
Jesus, that's an eyewateringly high average
Last year I paid ~£900 for gas and electric, and I'm at the low end of annual usage for both. Large families are going to be clobberedfishfoodie wrote: ↑Thu Feb 03, 2022 11:21 am
Jesus, that's an eyewateringly high average
I know you guys talk about the shiteness of housing stock; but a figure like that really shows how bad it is.
Any idea what the standard deviation is for fuel bills ?
Government to give £150 council tax rebate in April
Sunak says he will give people in council tax bands A to D a £150 council tax rebate in April.
It will mean 80% of council tax payers in England get the saving.
There will also be £150m for local authorities in England to help lower income households.
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Energy bills discount plan - Sunak's first announcement
We will spread out the price shock of rising energy bills over time, Sunak tells the Commons.
He says the government wants to make sure the increase in prices is smaller initially and spread out over a longer period.
And so all domestic electricity customers will receive a £200 discount on their electricity bills from October and this discount will automatically be repaid from people's bills in equal £40 instalments over the next five years.
