Jump to content

Energy Prices


Recommended Posts

10 hours ago, Newbornbairn said:

Just got ours - 

From 1 April, our prices will be increasing

We're increasing our electricity unit rate from 20.382p to 27.838p per kWh and electricity standing charge from 24.856p to 49.646p per day.

We're increasing our gas unit rate from 4.010p to 7.335p per kWh and standing charge from 26.112p to 27.219p per day.

These prices all include VAT at 5%.

 

Crivvens! How are people on low fixed incomes meant to cope with this? 

They won't, I am dependant on benefits, housing benefit hasn't changed in 7 years, about a month back the flat I used to rent for £600 a month (£100 extra to HB for adult and 3 kids) was on at £750. I'm slightly more as I moved to a house. I've been told there is absolutely no prospect of social housing unless I'm evicted. It's a choice I made to ensure kids get a decent education.

I'm still on old style benefits not universal credit, none of them have risen in 7 years either and I can't work any more than average of 15 hrs a week or earn more than £140,  so minimum wage not even living wage.

I'm not a drinker,.smoker or junkie despite what the right wing media portray, neither are lots of people reliant on benefits. Food shopping has increased, I noted the other day I've cut back on fruit as although I like encourage kids eat it a percentage gets wasted. 

People will literally die next winter because of this as margins for those on the edge of society are being hammered.

Link to comment
Share on other sites

On 25/02/2022 at 14:01, SlipperyP said:

Also happening over here.

Just got my monthly leccy bill and it's up from ฿400 to ฿600.  Petrol has gone up 75% in the last 3 months. Gas has stayed the same.

Food prices have gone up about 25%. pork 100%.

That's a lot for the normal Thai.  Even too much for me with the pork.

 

Our leccy hasn't been going up until now - we are about £35 - £55 a month depending on the season.  Looks cheap but with the average monthly wage around £300 it's not really.  Water is a fiver a month and gas (bottled) is probably averaging £7.50 a month.  Our internet is about the same as all 3 utilities together!  

Other stuff - I still give the wife the same shopping money as 2 years ago and she hasn't complained so I assume it's fine.  Of course, she was probably absolutely ripping the piss before but good luck to her!  Food is easily £80 a week and then I buy some takeaway etc from time-to-time.  

 

 

 

Link to comment
Share on other sites

10 hours ago, DA Baracus said:

You can probably work out your costs on any offered fixed rate by doing the sums based on the standing charge and the unit rate per kWh. Then check your normal usage and apply the figures (or, to simplify, check what you usually use in month and multiply it by the kWh figure, then add on the standing charge).

You can then compare that to what you'd pay on a variable rate when the cap increases. Below are the figures of the new cap, which all variable rates will follow at a minimum. Bear in mind though that there will be a further increase in October, so even though all fixed rates being offered now are more pricey, they will probably be less than the variable and whatever fixed rates are being offered in October. So you might be able to pay less on a variable until October, but when that hits you will pay more, and the fixed rates may be worse than what you can get now. I suppose its a case of doing the sums really!

Electricity is the top row, gas the bottom.

Screenshot_20220225-223108_Opera.thumb.jpg.95fff247c4736cbe6cbacee3b5f28f2e.jpg

 

 

 

 

Cheers, that's quite handy. Going with the new fixed would cost about £200 more over a three month period (admittedly based on figures from using the heating a lot) so might be worth biting the bullet now to save money later.

Also on some ridiculous economy 10 system where you get off peak for 10 hours a day. Given that's only going to be about 2p cheaper from April it might be time to ditch that.

Link to comment
Share on other sites

9 hours ago, Satoshi said:

 

And regarding these companies posting huge profits, this is not a good sector to be in - look at how many of these companies have gone out of business recently. The sector has a low ROE and everyone hates you, not a great business to be in. 

New calls for windfall tax as Shell unveils highest quarterly profit in eight years | Shell | The Guardian

‘Cash machine’ BP dismisses calls for windfall tax as profits hit eight-year high | BP | The Guardian

There's a big difference between the likes of Pure Planet going bust when they are re-selling fuel and the likes of Shell and BP who are also producers of fuel.

We've been left with the latter and they are abusing that position.

Link to comment
Share on other sites

4 minutes ago, Melanius Mullarkay said:

Wonder if he lays out a dress for her on the bed each morning, Günther style?

Well it certainly won't be trousers by the sounds of it.

It's pretty clear who gets to wear them in that household.

I wonder if she has to submit written permission to buy things or meet up with friends?

Edited by oaksoft
Link to comment
Share on other sites

1 hour ago, oaksoft said:

Well it certainly won't be trousers by the sounds of it.

It's pretty clear who gets to wear them in that household.

I wonder if she has to submit written permission to buy things or meet up with friends?

He’s from Dundee. Nobody wears trousers round here tbf.

Link to comment
Share on other sites

I dont think I've ever posted on here before, just long term browser but with some peoples questions and wrong assumptions I thought I would.

The reason for the cost increase that is now being passed on to everyone is really down to the cost of gas.

This is where people aren't quite differentiating between their supplier and where the gas is actually coming from.

The reason why 30 odd suppliers disappeared is because the cost of gas rose so much and the supplier couldn't afford to pay for it, and the big boys and a number of others had hedged for the cost of their gas, so knew what they'd be paying where generally the smaller companies had not. So they were having to pay the big cost, and as customers were paying less than that they didn't have the funds to keep that going.

The actual companies that are making the money are those that are getting the oil / gas (Shell and BP) there will be others but they're the obvious 2.

It was always going to happen that the prices were going to increase in April based on so many suppliers not trading as this also had to be paid for in some form as well, but the main reason is the cost of gas, as I think its around 40% of the UKs power is generated through gas, and that is partly the answer to why the cost of electric has gone up as well.

The choice people have just now is whether to fix just now or sit on the standard just now, there's no right answer, the goverment ignored it and just made it a problem for the future with a "loan" which is of no help to anyone, and I'd assume they'll be hoping the current cost will fix itself, but with what's happening currently, I think it's only going to get worse.

It's beyond a point where an energy supplier (Eon, SSE, SP etc) can fix the problem now, due to the actual cost of gas, which is where the issue is with the like of BP/Shell which other than taxing them more due to the millions/billions? they make there's really no solution other than the government doing something.

It will have a knock on effect to the cost everywhere as it's not just ourselves living in homes, its business' that have had their gas costs probably about doubling and electric going up by about a 1/3.

 

TL;DR we're fucked unless the goverment do something

Link to comment
Share on other sites

10 minutes ago, thepiegobbler said:

I dont think I've ever posted on here before, just long term browser but with some peoples questions and wrong assumptions I thought I would.

The reason for the cost increase that is now being passed on to everyone is really down to the cost of gas.

This is where people aren't quite differentiating between their supplier and where the gas is actually coming from.

The reason why 30 odd suppliers disappeared is because the cost of gas rose so much and the supplier couldn't afford to pay for it, and the big boys and a number of others had hedged for the cost of their gas, so knew what they'd be paying where generally the smaller companies had not. So they were having to pay the big cost, and as customers were paying less than that they didn't have the funds to keep that going.

The actual companies that are making the money are those that are getting the oil / gas (Shell and BP) there will be others but they're the obvious 2.

It was always going to happen that the prices were going to increase in April based on so many suppliers not trading as this also had to be paid for in some form as well, but the main reason is the cost of gas, as I think its around 40% of the UKs power is generated through gas, and that is partly the answer to why the cost of electric has gone up as well.

The choice people have just now is whether to fix just now or sit on the standard just now, there's no right answer, the goverment ignored it and just made it a problem for the future with a "loan" which is of no help to anyone, and I'd assume they'll be hoping the current cost will fix itself, but with what's happening currently, I think it's only going to get worse.

It's beyond a point where an energy supplier (Eon, SSE, SP etc) can fix the problem now, due to the actual cost of gas, which is where the issue is with the like of BP/Shell which other than taxing them more due to the millions/billions? they make there's really no solution other than the government doing something.

It will have a knock on effect to the cost everywhere as it's not just ourselves living in homes, its business' that have had their gas costs probably about doubling and electric going up by about a 1/3.

 

TL;DR we're fucked unless the goverment do something

So is the price of electricity going up to recoup the money the companies didn't make selling gas during the winter?

That seems deeply unfair on electricity only tariffs.

And have other have said it's a joke the standing charge has shot up.

Link to comment
Share on other sites

5 minutes ago, 101 said:

So is the price of electricity going up to recoup the money the companies didn't make selling gas during the winter?

That seems deeply unfair on electricity only tariffs.

And have other have said it's a joke the standing charge has shot up.

Privatisation is never about fairness 

Link to comment
Share on other sites

OFGEM regulate it, so they can't just do what they want, will go up due to the cost to generate the electric, since around 40% of the UKs electric comes from the burning on gas, then there's nuclear, wind, coal etc, at substantially lower %.

Link to comment
Share on other sites

2 hours ago, thepiegobbler said:

OFGEM regulate it, so they can't just do what they want, will go up due to the cost to generate the electric, since around 40% of the UKs electric comes from the burning on gas, then there's nuclear, wind, coal etc, at substantially lower %.

When every single supplier doubles their electricity standing charge it's price fixing.

There's no other word for it I'm afraid.

Link to comment
Share on other sites

27 minutes ago, oaksoft said:

When every single supplier doubles their electricity standing charge it's price fixing.

There's no other word for it I'm afraid.

Again, it's regulated by OFGEM, and it's them that regulate what the standard price is determined as, This is why it'll all show at once, is because of how it's regulated, as in effect the standard has been cheaper than what the actual cost has been, and also partly why so many have ceased trading. It's altered every 6 months currently, but with what's happened it's more than likely going to be changed more often so that what happened doesn't happen again.

Sure there was something mentioned on news last week that they're looking at doing it every 3 months, and may move more to having different costs at different times of the day, as in more expensive in peak periods.

You'll more than likely get tariffs that may have a lesser standing charge but you'll find the unit price is higher.

There's a number of things that have hit all at once which is why the costs have gone up so sharply as it'll all get passed onto the consumer, (cost of gas, companys failing, the loss of power over numerous regions recently and the cost to resolve they all have an impact) if you want to read more go onto the OFGEM website, as they're the regulator.

The Energy Networks are who deal with individual areas in the UK if there's a power cut, and they then charge the individual supplier for the cost of gas / electric in said area and this is why you'll get slightly different costs depending where you are in the UK.

Link to comment
Share on other sites

52 minutes ago, oaksoft said:

When every single supplier doubles their electricity standing charge it's price fixing.

There's no other word for it I'm afraid.

Price fixing = two words.

You are persisting with a simplistic narrative and you would be better served avoiding hyperbole.

I'm not at all sure, given you rail against central government regulation and control, what your solution is.

Private companies or parts of private companies that are responsible for their own areas of energy from developing, building, production through to delivery and retail all have directorial responsibilities that lead them to get best value for their shareholders. Isn't this the capitalist environment you so cherish? 

Link to comment
Share on other sites

3 hours ago, thepiegobbler said:

Again, it's regulated by OFGEM, and it's them that regulate what the standard price is determined as, This is why it'll all show at once, is because of how it's regulated, as in effect the standard has been cheaper than what the actual cost has been, and also partly why so many have ceased trading. It's altered every 6 months currently, but with what's happened it's more than likely going to be changed more often so that what happened doesn't happen again.

Sure there was something mentioned on news last week that they're looking at doing it every 3 months, and may move more to having different costs at different times of the day, as in more expensive in peak periods.

You'll more than likely get tariffs that may have a lesser standing charge but you'll find the unit price is higher.

There's a number of things that have hit all at once which is why the costs have gone up so sharply as it'll all get passed onto the consumer, (cost of gas, companys failing, the loss of power over numerous regions recently and the cost to resolve they all have an impact) if you want to read more go onto the OFGEM website, as they're the regulator.

The Energy Networks are who deal with individual areas in the UK if there's a power cut, and they then charge the individual supplier for the cost of gas / electric in said area and this is why you'll get slightly different costs depending where you are in the UK.

Sorry, but your last paragraph is just not correct, the issue with different prices is that unlike any other product where the consumer pays the cost of delivery, in the energy market it is the opposite and different regions have to pay transmission charges based on the demand rather than supply.  It is why London has one of the cheapest rates yet generates piss all.

We could of course have had cheaper power but we closed our coal fired power stations, everyone is now seeing the cost of the UK's commitment to reduce emissions.

 

Link to comment
Share on other sites

On 25/02/2022 at 15:39, beesher said:

I'm sure there's a fairly obvious answer to this, but if you plan on staying in your current property for the rest of your days and don't answer the door to meter readers, what's to stop you under-reporting your energy usage until such time as the price has come back down to a reasonable level?

If you try to submit readings that are outside the expected range (no idea if its 5 or 10% above/below), it won't accept the readings and they'll just estimate your bill. And since its so fucking expensive, 5-10% won't save you very much.

Link to comment
Share on other sites

On 25/02/2022 at 18:10, dundeefc1783 said:

I am with Octupus Energy and have just gone onto the variable rate. Had a look at fixing with them for 12 months and it's more than double the variable rate..... 

Remember those variable rate prices shown in your quote will change from April 1st, from 20p & 4p to 28p & 7p (and electric standing charge doubling from 25 to 50p). So you need to base your options for fixing with that, not the price you are currently paying for another month.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
×
×
  • Create New...