UK Energy Prices

[ianch99]

Originally Posted by Chris

Only if our gas-fired power stations are buying their fuel at spot prices, which I understand they mainly don’t. Fixed-price contracts will have to work their way through the system first.

Petrol and diesel prices should react more quickly though, and around here at least they seem to be doing so.

And there in lies the rub. The system created for and run by the corporate energy companies is a fix. We pay more in all situations. The system is so arcane and opaque, by design, so that most of the consumers are unable to understand and therefore protest about being ripped off.

We produce, on a good day, >50% of our electricity needs from wind. Yes, our wind on our land yet we have to pay the price of the highest input for this energy. The system, like many others, is deliberately setup to profit big business and their stakeholders. We are we so stupid in allowing this?

[1andrew1]

Some good news

British household energy bills likely to be lower after warm weather

Analysts sharply reduce their forecasts after unseasonably mild winter across Europe

British household energy bills are forecast to be lower than previously anticipated in 2023, dropping below the level of the government’s price guarantee in the second half of the year.

Analysts have sharply reduced their estimates for domestic energy bills after unseasonably warm weather across Europe in recent weeks has led to lower gas usage on the continent.

Martin Young of Investec bank, who has a record of accurately predicting the level of the price cap that dictates energy bills for the majority of British households, said he anticipates the cap to reduce to about £3,460 a year in April based on typical usage, dropping to £2,640 a year in July and hitting just over £2,700 in October.

https://www.ft.com/content/6d21f023-...8-1689fde2d05a

Good old Global Warming.

Another few years and we wont need heating.

Originally Posted by Paul

Good old Global Warming.

It’s not just here for the nasty things in life like catastrophic flooding. It’s here for the nice things too.

[Itshim]

EDF strike again , on fixed rate till May just had a refund of £350 , over payment for the year . Put my standing order up ( double) based on estimate that I will use 2 times the power that I have in the last year ! Given that may be correct not likely but still, why give a refund and then take more each month

[SnoopZ]

Still waiting for Bulb to cough up this months £67 energy rebate, maybe they're waiting for my £83 direct debit to go through first.

[Jaymoss]

Originally Posted by SnoopZ

Still waiting for Bulb to cough up this months £67 energy rebate, maybe they're waiting for my £83 direct debit to go through first.

Mine is late off Octopus too. They have no choice though not worried

[joglynne]

Originally Posted by Jaymoss

Mine is late off Octopus too. They have no choice though not worried

Octopus credit the energy rebate to your account when your bill is calculated/ your direct debit is collected. Or at least that how mine works.

Delayed by the holidays perhaps ?

---------- Post added at 01:59 ---------- Previous post was at 01:57 ----------

Originally Posted by Itshim

EDF strike again , on fixed rate till May just had a refund of £350 , over payment for the year . Put my standing order up ( double) based on estimate that I will use 2 times the power that I have in the last year ! Given that may be correct not likely but still, why give a refund and then take more each month

Wouldnt you rather have the money, than them ?

I would, which is why I switched to just paying what I actually owe each month, no big "credit" built up (i.e. them having my money).

[SnoopZ]

Bulb has just rebated my account.

[RichardCoulter]

Originally Posted by Itshim

EDF strike again , on fixed rate till May just had a refund of £350 , over payment for the year . Put my standing order up ( double) based on estimate that I will use 2 times the power that I have in the last year ! Given that may be correct not likely but still, why give a refund and then take more each month

I believe that, to stop them holding onto people's money interest free, the rules were changed a few years ago to require them to do this (once a year I think).

---------- Post added at 16:08 ---------- Previous post was at 16:06 ----------

Originally Posted by Paul

Delayed by the holidays perhaps ?

---------- Post added at 01:59 ---------- Previous post was at 01:57 ----------



Wouldnt you rather have the money, than them ?

I would, which is why I switched to just paying what I actually owe each month, no big "credit" built up (i.e. them having my money).

Does it work out more expensive doing it this way though?

I know that you can have Sky on a rolling monthly contract instead of entering into a contract, but it does work out more expensive.

Originally Posted by RichardCoulter

Does it work out more expensive doing it this way though?

Not atm.

Some energy suppliers have a (slightly) more expensive tariff for customers who pay in full in arrears rather than a fixed amount direct debit, but not all of them do.

Bulb may or may not do that normally, I dont know, but the cap limits what they can charge atm.

It remains to be seen what happens as we move to Octopus, although the cap seems to be in place for some time yet.

[Jaymoss]

Originally Posted by Paul

Bulb may or may not do that normally, I dont know, but the cap limits what they can charge atm.

It remains to be seen what happens as we move to Octopus, although the cap seems to be in place for some time yet.

There will be a 20% increase in unit rates in April that I think runs for the year. There may well be small drops over the year and the hopefully 2024 will see lower wholesale prices.

Octopus do also give a small standing charge discount