The energy crisis

[Jaymoss]

Originally Posted by Chris

I can’t be bothered staying on top of it though, which I guess is why the credit balance got so high in the first place. They think my estimated monthly usage is £135 which makes it hard to argue for a DD of £90 which is what I was asking. The problem really is that we have only stopped doing B&B since the pandemic, and as we cook electric and have electric showers in 2 guest ensuites as well as the family bathroom our electricity usage has historically been higher in the summer than the winter. So I know that our monthly usage over the next 6 months isn’t going to be that high, especially in comparison to summer, but I don’t have the fresh figures to prove it. So I’ve just clawed back about two thirds of my credit balance, left my DD at £111 a month, and I’ll look at it again in January.

fair enough

[joglynne]

Interesting article by the Money savings expert.

Energy firm gone bust? How your new firm and tariff stacks up.

Nine energy suppliers have gone bust in recent weeks, including Igloo, Avro and People's Energy, leaving over 1.7 million energy customers needing a new supplier. Ofgem has now appointed a provider to take over for each of these – we've analysis of what it means for your energy bill, and how the new supplier stacks up to the old one below.

https://www.moneysavingexpert.com/ne...L7w11QcQf30nEA

[Jaymoss]

Originally Posted by joglynne

Interesting article by the Money savings expert.


https://www.moneysavingexpert.com/ne...L7w11QcQf30nEA

I just want it sorted so I can apply for the WHD before all the slots are filled. If I lose the £140 on top of the higher bills it will be a nightmare to pull myself out of

[SnoopZ]

Originally Posted by daveeb

Wow SnoopZ do you live in some sort of eco house, I think we were paying that amount about 15 years ago

No just a 2 bed with gas central heating, I moved from eon a few years ago who wanted to up the bill to over £100, I should have switched years ago.

Originally Posted by joglynne

Interesting article by the Money savings expert.

According to their own comparison site, the cheapest deals atm are the variable rate tarrifs.
I set Bulb in as the current, and they could find nothing cheaper, but several the same, all the fixed deals were more expensive.

[jfman]

Suspect the fixed rate offers don’t really have a choice. Either they anticipate prices to keep rising in which case they have to pre-empt that or need some customers to offset the loss-making usage ongoing at the minute.

Either way they can’t commit to fixing at the same rate as a current variable leaving them unable to respond to volatile market conditions.

[1andrew1]

Confirmation of what we're seeing.

UK energy suppliers quoting deals more than £700 above price cap

Comparison sites urge customers to stay with existing tariffs as gas surges higher still

British households are being quoted fixed-price electricity and gas contracts of more than £2,000 a year, the first time they have reached that level in at least a decade as wholesale gas prices continue to soar.

Companies including Eon, Ovo Energy, Outfox the Market and So Energy have been offering one- or two-year fixed dual electricity and gas deals that are more than £700 above the main price cap, which is regulated by Ofgem to protect 11m households and rose to £1,277 at the start of October.

Energy suppliers said the deals, based on average usage, more accurately reflect the current cost of providing households with electricity and gas.

Price comparison sites said they were now in the unusual position of advising consumers not to switch to new fixed deals and instead stick with tariffs protected by the price cap. Some price comparison companies had suspended energy comparison services given so few deals were on offer.

“We’re advising people to stay put,” said Richard Neudegg, head of regulation at the price comparison company uSwitch.

https://www.ft.com/content/e17a3f66-...5-20a3ac1e9c16

[Mr K]

Originally Posted by 1andrew1

Confirmation of what we're seeing.

https://www.ft.com/content/e17a3f66-...5-20a3ac1e9c16

It's disgraceful behaviour. They are playing on people panicking, and thinking that a fixed deal must be a good deal.
Seeing a similar thing with petrol and hiking prices to make a massive profit.
The private sector at work....

[Jaymoss]

just got a quote for OVO for £131 fixed for 2 years. Admittedly with my low gas consumption. Even with 4200 leccy and 10000 gas it is £161 so not far off the 2K I guess.

Harsh fact is these prices are going to kill the poorest in society

Maybe that is why all this is happening. A cull to fight over population ( I do not really think this btw)

[Mr K]

Originally Posted by Jaymoss

just got a quote for OVO for £131 fixed for 2 years. Admittedly with my low gas consumption. Even with 4200 leccy and 10000 gas it is £161 so not far off the 2K I guess.

Harsh fact is these prices are going to kill the poorest in society

Indeed, so let's choose this time to cut Universal Credit and increase taxes to make sure they do go under.

[Jaymoss]

Originally Posted by Mr K

Indeed so let's choose this time to cut Universal Credit and increase taxes to make sure they do go under.

I am hoping the court case goes ahead and rule that those on ESA were discriminated against when they did not get the £20 a week with the only reason being the system could not do it. That would be worth well over a grand in my sky rocket

[RichardCoulter]

Originally Posted by Jaymoss

I just want it sorted so I can apply for the WHD before all the slots are filled. If I lose the £140 on top of the higher bills it will be a nightmare to pull myself out of

After nearly a decade of not being uprated, this is to be increased to £150, but people on means tested benefits will still be much worse off.

---------- Post added at 21:13 ---------- Previous post was at 21:07 ----------

Originally Posted by Jaymoss

I am hoping the court case goes ahead and rule that those on ESA were discriminated against when they did not get the £20 a week with the only reason being the system could not do it. That would be worth well over a grand in my sky rocket

Indeed, lawyers are working behind the scenes to try & make this happen.

I never bought the original excuse and it's interesting that the Government are now saying that only Universal Credit (UC) and Working Tax Credit (WTC) were uplifted because they wanted to help working people only.

They haven't done themselves any favours by saying this as many people on UC cannot work due to disability, caring responsibilities etc, whilst those on UC/WTC and in work are usually better off than those that cannot work anyway.

Those not included in the uplift have received a total of £1,500 less as a result.

[Jaymoss]

Originally Posted by RichardCoulter

Those not included in the uplift have received a total of £1,500 less as a result.

I know it is off topic but I would actually be better off once they switch me to UC but of course I lose the protection I get by waiting to be switched by them instead of me asking to switch.

These things all relate to the energy prices because I will suffer from the prices but thankfully I am quite hardy to the cold and intend to use as little heating as possible this year in favour of wrapping up and sitting with a quilt

[jfman]

Originally Posted by Mr K

It's disgraceful behaviour. They are playing on people panicking, and thinking that a fixed deal must be a good deal.
Seeing a similar thing with petrol and hiking prices to make a massive profit.
The private sector at work....

I’m loathed to say it but to be honest you can’t blame the companies. They’ve been sold a pup that they’re the private sector causing efficiencies where previously a state monopoly existing was allegedly grossly inefficient.

In fabricating the existence of a market where none exists they got themselves into a stable industry, guaranteed customer base. As there’s no genuine competition to drive down prices, or real motivation for efficiencies (there’s only playing around the edges with special offers here and there). Decades of profits to be had.

The the rug gets pulled from under them. They’re not going to take the flack - they’re only the middleman between between the bank chasing them for loans they used to buy energy last year and you paying them today. Once they’ve extracted all the money in the middle between their debtors and creditors to shareholders there is only collapsing left to do. There’s nobody to carry the can it’s all gone.

[Jaymoss]

And now the Garlic eaters are threatening to cut off our power again...