UK Energy Prices

[Julian]

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]

Originally Posted by Julian

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]

Originally Posted by Julian

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]

Originally Posted by Mr K

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

Originally Posted by Mr K

Now that would be illegal, but tempting.

Would it actually be illegal ?
Most companies are taking your money in advance anyway.

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]

Originally Posted by Chris

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]

My Orbit account was taken over by Scottish Power yesterday.

[1andrew1]

Concerning and hope it's not as bad as this.

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/

Towards £2,000-a-year ? I already passed it.

[1andrew1]

Originally Posted by Paul

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]

Originally Posted by Paul

Towards £2,000-a-year ? I already passed it.

I'm just about there as well.

Originally Posted by Paul

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]

I think I'll be paying close to £400 a year thanks to the price rises

[SnoopZ]

Originally Posted by TheDaddy

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?