Energy prices

[Long slender neck]

I havent even looked, but I think the current fix rates available are higher than the variable deals as the variable is capped by ofgem. This cap will be reviewed in the spring, it will almost certainly increase by quite a bit, whether the new cap will be higher than current fix deals is anyones guess. Personally I'm going to get through this winter with the cap and hope that wholesale prices come down, possibly look to switch/fix then or in the summer.

[Dunners]

Just got my deals from octopus as my current one runs out in jan. paying about 79 atm and cheapest new offer is 150 a month. One of them is 250 a month!

Shocking. Just go on the variable rate (cap) for now seems to be the current advice.

Dont really understand how this works but if i get a variable rate in Jan and everything shoots up from april i will be worse off?

Everyone will be worse off in April. But the current fixed-rate deals are predicting that things will be so much worse that, for now, you're best off sticking with the variable rates as these are cheaper.

The best advice now is to wait and see what you're options are from April, but be prepared for the cost of living to rise a lot more than what it has so far. Just wait until energy by-products start getting factored into food retail pricing.

[Long slender neck]

Email from Martin Lewis reckons:

"If you're offered a fix that's no more than 40% costlier than your current price-capped tariff, it's worth considering - especially if you value budgeting certainty"


Confused? Most should still DO NOTHING and stick on the price cap. I know this is complex. So to summarise, it looks like most people should do nothing (no certainty, I don't have a crystal ball), it looks like only a few edge cases should be looking at fixing right now. So if in doubt, just stick on today's cheapest price - which is the cap.

[Currywurst and Chips]

Time to scrap taxes and levies on energy and give hard working families of the UK some relief

[Rich Tea Wellin]

Shocking. Just go on the variable rate (cap) for now seems to be the current advice.

Dont really understand how this works but if i get a variable rate in Jan and everything shoots up from april i will be worse off?

Everyone will be worse off in April. But the current fixed-rate deals are predicting that things will be so much worse that, for now, you're best off sticking with the variable rates as these are cheaper.

The best advice now is to wait and see what you're options are from April, but be prepared for the cost of living to rise a lot more than what it has so far. Just wait until energy by-products start getting factored into food retail pricing.

Cheers for that!

Whats the expected rise likely to be % wise that energy companies are working towards?

[Long slender neck]

The cap is being reviewed in February, sooner than I thought. I've heard a rise of 50% mentioned, kicking in around April.

[Dunners]

It will depend on to what extent government adjusts the cap, and whether they remove fuel duty. But none of this factors in the increase in costs already being experienced by industry and business, which will lead to increases being passed onto consumers in the next few months.

Based on what is known so far, the Resolution Foundation estimates that the average household will be £1,200 worse off next financial year. So far. Some studies predict it could be far worse.

[Ronnie Hotdogs]

All these lovely pay rises incoming will swallow that up.

[Smendrick Feaselberg]

Martin Lewis is reporting that the price cap will increase by 51% from April 1.

[greyhound]

frightening

[Long slender neck]

Todays the day the new cap prices are revealed.

[Max B Gold]

Todays the day the new cap prices are revealed.

Bricking it.

[Dunners]

The price cap to increase by 54% on 1 April. A typical annual bill is currently £1,277, so anyone on that will see an increase of just under £700 to £1,971.

[Dunners]

Can't wait to hear if the BoE pushes up interest rates today too.

[Dunners]

This YouGov survey from back in October reported that 50% of Brits couldn't afford an extra £50 increase in their monthly energy bills.

[Still's Carenae]

This YouGov survey from back in October reported that 50% of Brits couldn't afford an extra £50 increase in their monthly energy bills.

With the NI contributions increasing for average earner of £23 per month that leaves only a £27 increase for 50% being unable to afford.

We are in a sorry state.

Go Green Go Broke

[Still's Carenae]

The complete lack of government planning for transition over the last 20 years has lead to this bonkers situation.

Only going back bringing in our own gas, coal and oil will allow a smooth transition to green energy at a more affordable cost. Plus of course the extra jobs this will create.

[Ronnie Hotdogs]

Yet at the same time https://www.theguardian.com/business/20 ... ight-years

It’s just a shame the current system is the only one we can organise ourselves around.

[Max B Gold]

Yet at the same time https://www.theguardian.com/business/20 ... ight-years

It’s just a shame the current system is the only one we can organise ourselves around.

Cannae wait fur Keith tae nationalise the khunts.

[Dunners]

Here's Rishi announcing his bid for Tory party leadership.

Also, this rebate thing... it may just be me, but it sure does sound more like a loan.

[Real Al]

That's a complicated set of stuff

[Dunners]

What's with the Council Tax rebate? That seems like an overly complicated way of achieving anything. What are they up to with that?

[Still's Carenae]

Here's Rishi announcing his bid for Tory party leadership.

Also, this rebate thing... it may just be me, but it sure does sound more like a loan.

It is a loan. Which we will have to pay back over time, keeping energy prices nice and high.

[Ronnie Hotdogs]

Those energy companies have got to keep making those profits, we can’t impact them.

This way everyone is happy.

[George M]

This YouGov survey from back in October reported that 50% of Brits couldn't afford an extra £50 increase in their monthly energy bills.

With the NI contributions increasing for average earner of £23 per month that leaves only a £27 increase for 50% being unable to afford.

We are in a sorry state.

Go Green Go Broke

Unfortunately going green was never sold to us correctly. It was never about being cheaper. It was about saving the planet. Cheap energy, no planet. More expensive green energy , a chance we may still have a planet to live on.