Hey!

There may be a thread on this already, but I couldn’t find it in the search!

We’ve the option to go SVR or fix for 2 years at 26p for electric.

It’s obviously a total gamble, but what would you do?

Cheers!

Ricks

I’d not be fixing for two years right now.

I’m on Bulb’s vari-fair tariff which (like any of those still in business) is capped by ofgem till march. MSE advice is to treat this as a short-term fixed deal and its the best you’ll get.

My insider info is that we will see wholesale prices peak and come down next year, so I’ve not fixed.

HTH.

Octopus encouraging people to not enter new contracts at the moment and just fall back onto the price cap.

SVR for me. My deal ended at end of Sept.

And…

https://www.msn.com/en-gb/money/other/putin-turns-on-the-gas-prices-in-europe-fall/ar-AAQ3Mbi

After the collapse of Green, Shell have put me on the following

Flexible 6 tarriff

Electricity / Gas Standing charge (per day)….26.46p—-26.11p

Unit rate (per kWh)…………………………….20.207p—-3.954p

Just sticking with that for now

There’s been a few threads, but in the great STW tradition they were probably named something unhelpfully witty.

Anyway, USwitch / MSE et al are telling everyone who has a deal that’s ending, or has ended to not switch. There aren’t many ‘deals’ about and the ones that are, are way more expensive than the cap.

The Cap will almost certainly rise again in April, there are a few reasons for the massive rise in wholesale prices rather than a single, fixable problem. With so much of our electricity produced by gas too, this is a considerable problem, one the UK could really do without at the moment, dealing with the tail end of Covid and the ongoing problem with Brexit.

Another problem for consumers is that the providers have managed to lobby the Government into looking at the cap and how it’s calculated. You can’t blame them, most have gone bust and those who remain have seen wholesale gas reach 13.65p per KWh (400p per Therm. 1therm = 29.3KWh) my current deal is 2.537p per KMh and my ‘capped deal’ is 4.174 per KWh. Even after Russia announced it would up supply, prices fell to 231p per Therm, which if my Maths is correct is 7.8p per KWh, nearly double what they can charge, without considering the other costs.

Advice from Money Saving Expert is to swerve fixed tariffs like the plague currently.

If you haven’t already, it’s worth signing up to MSE’s newsletter. Also they have a ‘cheap energy club’ which is basically Meerkat for power.

if you sign upto octopus variable and get someone to refer you, you get £50 each..
i signed up someone the other week and got the bill credit in a couple of days..

DM me :0)

I have a frustration – trying to find out what the energy cap is in terms of £/kw.hr and standing charge per day for Gas and Electricity so I can compare my rate (currently on a 12 month fix with Sainsburys).

All I can find is aa “£/yr based on typical usage” which is pretty useless.

Can someone please point me towards where this is published ?

octopus variable (since 14 oct 2021)
electricity // Gas
Standing Charge (day) 25.54p // 22.71p
Energy usage 18.58p/kwh // 3.58/kwh

I’m with Octopus and my fixed term runs out in December. From the figures they sent, comparing their fixed rate, variable and current customer discounted fixed the variable looks by far the cheapest option.

With prices already high what are the chances of the variable going through the roof?

Word on the street (not 100% reliable) is Bulb are about to join those going under, very volatile market at the moment.

My insider info is that we will see wholesale prices peak and come down next year, so I’ve not fixed.

I wouldnt bank on this being passed down to consumers, if the price cap goes up in April, which on how you hear its worked it will, most suppliers will just nudge prices up towards that. I dont think prices would come back down till the following year pending where the price cap goes.

With less small suppliers and the remaining suppliers gaining many customers via supplier of last resort why slam prices?

I have a frustration – trying to find out what the energy cap is in terms of £/kw.hr and standing charge per day for Gas and Electricity so I can compare my rate (currently on a 12 month fix with Sainsburys).

All I can find is aa “£/yr based on typical usage” which is pretty useless.

Can someone please point me towards where this is published ?

No it’s not possible, providers are allowed to mix costs between standing charge and KHw to ensure ‘competition’ or the impression of it.

My insider info is that we will see wholesale prices peak and come down next year, so I’ve not fixed.

Prices are seasonable, so they will fall in Spring, but there are some fundamental issues that could mean this is a one-way trend.

For consumers there were 60 providers a few years ago, how many will be left by the end of winter? It’s not for certain that even the ‘big 6’ will survive selling gas at a loss and they’re likely to be far less competitive and more conservative.