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Julian 01-12-2021 23:20
Re: Energy companies collapse
 
How much of a certainty is a rise in the price cap in April?
Like the companies that forward plan their energy purchasing can’t Joe Public do the same?
Send in inflated meter readings and hedge the increase?

Sephiroth 01-12-2021 23:29
Re: Energy companies collapse
 
Quote:
Originally Posted by Julian (Post 36103844)
How much of a certainty is a rise in the price cap in April?
Like the companies that forward plan their energy purchasing can’t Joe Public do the same?
Send in inflated meter readings and hedge the increase?
Excellent lateral thinking.

Mr K 01-12-2021 23:32
Re: Energy companies collapse
 
Quote:
Originally Posted by Julian (Post 36103844)
How much of a certainty is a rise in the price cap in April?
Like the companies that forward plan their energy purchasing can’t Joe Public do the same?
Send in inflated meter readings and hedge the increase?
Now that would be illegal, but tempting ! Not possible for anyone with one of those silly smart meters though.

daveeb 02-12-2021 00:07
Re: Energy companies collapse
 
Quote:
Originally Posted by Mr K (Post 36103848)
Now that would be illegal, but tempting ! Not possible for anyone with one of those silly smart meters though.
Good idea but you're guaranteed to have a meter reader knocking on your door for the first time in years if you go for silly numbers :shocked:

Paul 02-12-2021 00:14
Re: Energy companies collapse
 
Quote:
Originally Posted by Mr K (Post 36103848)
Now that would be illegal, but tempting.
Would it actually be illegal ?
Most companies are taking your money in advance anyway.

Chris 02-12-2021 00:18
Re: Energy companies collapse
 
Yeah, there’s a database with historical readings from your meter in it, which is what all the suppliers use to estimate your usage if you don’t send readings in. If you veer too far from what’s expected they will investigate. And deliberately giving false readings is illegal.

The only way you could conceivably make use of the freedom you get from self-reading a dumb meter is if, say, your central heating broke down for an extended period and you ran a lot of electric heaters in your house for a few weeks while waiting for it to be fixed. To avoid your supplier arguing that your recent usage requires an increased direct debit or a payment to clear a debit account balance you might under-read by a modest amount for a period of time to smooth out the excess. Which would still be completely illegal, just less likely to be picked up …

SnoopZ 02-12-2021 07:48
Re: Energy companies collapse
 
Quote:
Originally Posted by Chris (Post 36103861)
Yeah, there’s a database with historical readings from your meter in it, which is what all the suppliers use to estimate your usage if you don’t send readings in. If you veer too far from what’s expected they will investigate. And deliberately giving false readings is illegal.

The only way you could conceivably make use of the freedom you get from self-reading a dumb meter is if, say, your central heating broke down for an extended period and you ran a lot of electric heaters in your house for a few weeks while waiting for it to be fixed. To avoid your supplier arguing that your recent usage requires an increased direct debit or a payment to clear a debit account balance you might under-read by a modest amount for a period of time to smooth out the excess. Which would still be completely illegal, just less likely to be picked up …
I'll be doing this for nearly 2 months by the time my heating gets fixed on 21st Dec.

Taf 02-12-2021 09:58
Re: Energy companies collapse
 
My Orbit account was taken over by Scottish Power yesterday.

1andrew1 21-12-2021 00:22
Re: Energy companies collapse
 
Concerning and hope it's not as bad as this.
Quote:
Millions of British households could face a 56 per cent rise in their energy bills from April, pushing them towards the £2,000-a-year mark, according to one of the bleakest estimates yet of how much consumer prices will have to rise because of continued volatility in wholesale commodity markets.

Investec, the investment bank, has estimated that Britain’s energy price cap will have to be lifted to £1,995-a-year per household from April when the limit is next altered by Ofgem, the regulator, unless it or government comes up with “mitigating actions” to soften the blow.
https://swiftheadline.com/uk-househo...o-2000-a-year/

Paul 21-12-2021 00:24
Re: Energy companies collapse
 
Towards £2,000-a-year ? I already passed it.

1andrew1 21-12-2021 12:14
Re: Energy companies collapse
 
Quote:
Originally Posted by Paul (Post 36106614)
Towards £2,000-a-year ? I already passed it.
Gosh, that's about £165pm. But obviously all depends on the house size and if you're heating it during the day or not.

Mad Max 21-12-2021 12:50
Re: Energy companies collapse
 
Quote:
Originally Posted by Paul (Post 36106614)
Towards £2,000-a-year ? I already passed it.

I'm just about there as well.

Hugh 21-12-2021 12:59
Re: Energy companies collapse
 
Quote:
Originally Posted by Paul (Post 36106614)
Towards £2,000-a-year ? I already passed it.
We pay around £1250 pa - 4 bed detached, only SWMBO & I in it, but both at home all day.

TheDaddy 21-12-2021 15:10
Re: Energy companies collapse
 
I think I'll be paying close to £400 a year thanks to the price rises

SnoopZ 21-12-2021 15:32
Re: Energy companies collapse
 
Quote:
Originally Posted by TheDaddy (Post 36106659)
I think I'll be paying close to £400 a year thanks to the price rises
Why so cheap, or do you mean £400 a year more?


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