Tesco might even put doors back on all their freezer units yhat are open to the atmosphere.
Crazy costs andd loads up the atmosphere with co2, which makes the world hotter, so the freezers have to work harder, producing more co2, making the world hotter and its self propelling circle of stupid
It’s up there with the shops which have the air-con on full lick in the middle of summer with the doors wide open.
The same places seem to also have the heating on flat out in the middle of winter as well with the same doors open.
Just watched C4 News...
French prices have gone up 4%
German prices 40%
Other European countries fall between those two figures.
Our prices have gone up 250% and are set to double that by next spring.
If prices reach those heights then we will have a revolution.
France is largely self sufficient based on a lot of nuclear electricity isn't it? Germany im expecting to consume it's gas reserves and then have to turn off industry to keep homes warm.... How they are at 40% rise when we are here, using virtually no Russian gas, at 250% rise... Our market is broken.
Thank heaven my wood stack is enough for 2 or 3 winters.
Apparently we are shipping electricity to France at the moment because they have two nuclear reactors shut down for repairs.
We are selling it at £900 per kw. The situation is expected to reverse as we have an arrangement to buy electricity from France next year, at £2000 per kw
Obviously those figures are relative to each other at today's prices, you'll find your mileage might vary considerably in the near future..
British gas spot market prices are currently lower than Europe. Not higher.
https://watt-logic.com/2022/08/11/european-gas-market/
As for French electricity prices EDF is sueing the govt for billions for loss of revenue. If you sell something for less than it costs you go bust eventually.
The same places seem to also have the heating on flat out in the middle of winter as well with the same doors open.
Our Morrisons has heaters blasting to keep you warm whilst you browse the chiller aisle.
Yup.
We are selling it at £900 per kw. The situation is expected to reverse as we have an arrangement to buy electricity from France next year, at £2000 per kw
wait, am I reading that correctly? That our government signed a deal that a 5yo would know is utterly stupid?
That our government signed a deal that a 5yo would know is utterly stupid?
You've met our government, yes?
inkster
Free MemberApparently we are shipping electricity to France at the moment because they have two nuclear reactors shut down for repairs.
We are selling it at £900 per kw. The situation is expected to reverse as we have an arrangement to buy electricity from France next year, at £2000 per kw
Obviously those figures are relative to each other at today’s prices, you’ll find your mileage might vary considerably in the near future..
@inkster what's the source of these numbers, hopefully 900/kw is a typo...
How they are at 40% rise when we are here, using virtually no Russian gas
German end consumers have been fairly well protected because the large utilities that purchase from Russia aren't allowed to pass the costs of having to purchase, (horrificly expensive) gas on the spot markets to make up the shortfall. That ends in October after a change in the law a few weeks ago.
@inkster what’s the source of these numbers, hopefully 900/kw is a typo…
No, that'd be right. It's a commodity traded on supply/demand so at times it'll go much higher than that for a period of a couple of hours or so. I'll see if I can find the website that shows this.
Some French nuclear stations are having to massively reduce output due to river levels and temperatures mean insufficient cooling. A few reactors maintenance wouldn't be unusual, particularly during the lower damand summer months.
presumably its £900 per g (giga) w not kw - I only pay 24p per kw - I might sell my electric onto the french or back to the uk govt at that price.
presumably its £900 per g (giga) w not kw
Sorry, yeah I'm missed that unit error, although not GW, but MW, (megawatt)
Here's the graph. Prices change every 30 mins.
"@inkster what’s the source of these numbers, hopefully 900/kw is a typo…"
Mark Urban on last night's Nesnight.
This topic really is hotting up. pun intended....
So what's going to be the snapping point because people just are not going to pay not through stubbornness but pure economic reasons how can someone running a house and earning less than 25k have that pushed on them.
25k pulled out of my head but it's about the average for shop work/ parcel depo round my way.
3 months take home pay for me...... 🙁
For many though its not ability bur willingness.
For some people, not all, they don't want to drop their standard of living to pay for electricity. No humble Facebook bragging available to show how well you are doing by posting a picture of your gas bill with paid stamped on it. Where we've all seen the photos of the airline tickets, or Tom is checking in at Heathrow.
For a few people, not goimg skiing for Xmas, Cornwall for Easter then 2 weeks in The Algarve for summer is what they want. Its what they are used to doing. They will have the ability to pay, but would much rather be giving that cash to Tui, or BMW leasing.
They work hard and the reward is nice things and ' making memories' bullocks. Seeing their £150d to ssec going up to £350 makes it harder to keep up with previous years frivolity.
However there are also millions who simply dont have any money at the end of the month amd dont ever go on holiday, run 2 cars, have expensive hobbies who are royaly screwed.
Have feed in tariffs gone up 3 fold?
Shell sell me 100% green energy, has then sun got more expensive or not been out for the last 4 months?
Windfall tax is not the answer. Maybe subsidised solar is, but thr tories will find a way for cash to make it into their mates pockets securing them lucrative consultancy fees for the future whilst telling the minions they ar the low tax party.
Holy Thread Resurrection Batman!!!!
I maxed out my luck by fixing two years ago, just before prices went through the roof. And, because I still got the vouchers, my fuel bills have never been cheaper. But, alas, my jammy fix end in a few weeks.
Best 12 month fix offer would see an extra £1,400 p/a on the bill. Tracker, at todays rates, would be £200 more than that. But tracker will be best if prices fall.
So, STW Energy gamblers, do play safe or play the energy markets?
I had an offer to fix at 30p kwh for 3 years. Being on business cintract and no chance of a smart meter i hope it pans out long term. But as i am currently on 60p a unit it will seem beter whatever.
I think energy prices are due another fall soon, so maybe wait and see before making a commitment
https://moneyweek.com/personal-finance/605440/will-energy-prices-go-down
'Although the price cap is forecast to drop by £251 - from £2,074 to £1,823 - for the final three months of this year, the actual saving most households will make will be a lot lower. The average household energy bill is set to fall by just £149 in real terms. This is because from October the regulator will change its calculations for how it works out the average energy bill.'
Nice one Ofgem
Energy prices are forecasted to be similar for the foreseeable, so its probably not going to make much difference if you have a fixed/variable deal.
However, as the market begins to open up, now is the time to change suppliers if you're unhappy with your current one.
Energy prices are forecasted to be similar for the foreseeable
Cornwall Insights are predicting that they will increase in Q1 due to the strikes in Australia.
https://www.bbc.co.uk/news/business-66571542
Outguessing the people that do this for a living is very hard right now, the best offers will come if supplier start to get competitive again. I'm staying variable (Octopus) but I'm not convinced that's the right move.
i went solar+battery at a large investment, allows me to self generate, plus charge the batteries at a low rate. i chose this route as it's sort of secure, i pay this much now, and thats how much it costs.
Most fixed tariffs can be cancelled or changed within the fix period, weather it's worth doing so depends on any exit charges. British Gas offered me a fixed tariff with no exit fees, not sure if just changing to another BG tariff, or if I could move supplier without penalty. If it's £200 cheaper with low or no penalties I'd do that.
Shell sell me 100% green energy, has then sun got more expensive or not been out for the last 4 months?
In real terms. Yes.
I've just moved from the ~30p/Kw variable rate to Octopus Tracker (daily price change made up of wholesale price + whatever margin they have decided they want to make). I believe over a typical year its about 30% cheaper than variable BUT not sure what a typical year is anymore.
My plan if it goes crazy is I guess to buy a battery for my old solar panels and move to a peak:off peak tariff
small cut in the EPC - £151 per year for the average house.
In the detail, the cost per unit has fallen by more and the standing charge gone up. I know a few have queried why that is in the past - Ofgem guy explained that it covers the fixed cost of supply - networks, call centres, etc. - and if they reduced or scrapped the SC then low users benefit disproportionately. Which might sound good for net zero reasons, etc., driving those behaviours, but their analysis suggested that the losers would be pensioners, disabled, and so on where there is less option but to keep houses warm.
So in essence we (I'm assuming most of us are generally not disabled pensioners, apologies to the few that are) are subsidising them through the SC on our bills which I don't have too much trouble with. You can argue the Gov should do it via warm homes allowances or whatever - but in the end that would be tax anyway, so we pay there too.
Or of course energycos take less profit.......
I fixed for 5 years in June 2019.
13p off peak
16p peak
I thought I was taking a risk at the time, but liked the idea of the certainty.
The luckiest call I have made in a while.
It's offset by 12 kw of solar and central heating is oil but we still use 3200kwh a year.
Looking for a battery next year.
https://www.moneysavingexpert.com/news/2023/07/fuse-energy-launches-electricity-only-deal/
We are starting to see some slightly cheaper deals ahead of competition - I'm still holding off until October's new cap to see what is launched then.
I'm looking forward to 10p off my rate next month, should save me about £20/mo
We are starting to see some slightly cheaper deals ahead of competition
“Brand new app-only supplier Fuse Energy – the first new supplier to enter the market since the start of the energy crisis”
What could possibly go wrong? We’ve not heard that one before…
I agree - but it's a sign that for the first time in over a year that deals are likely to return, even if we are never as cheap as before.
Octopus arbitrarily doubled my pence per kWh.
On my export tariff.
My export tariff and my overnight tariff are now much the same and we have a battery.
Including charging an EV we’ve been paying £5 electricity a month before thisincluding standing charges for the last few months. It’ll go up as the light fades but I’m expecting my electricity bill to be less than £0 across the year. Including one EV’s worth. 👍
Fuse Energy?
Thanks but...no.
November last year my monthly DD was increased to £241.00/month (dual fuel).
It's been coming down over the year and this Octobers monthly DD will be down below £150.00/month
That's just on Shell's standard variable rate.
I can't see a reason to move to a fixed tariff just yet.
It’ll go up as the light fades but I’m expecting my electricity bill to be less than £0 across the year. Including one EV’s worth. 👍
Sorry, but the point of your post is what exactly in relation to the thread subject?
(Other than to say how you can afford lots of PV and an electric car while others struggle to meet the [still high] costs of basic energy requirements.)
@sharkbait - apologies you’ve made me reread what I wrote and the intention and the words don’t match.
What I was trying to say was simply that different circumstances should lead to different answers.
I’m not on a fixed and that is to my advantage. In fact I haven’t been on a fixed for a good long time now and it has been to my advantage.
What I didn’t say, but I have on many other threads, is know the rules of the game. Long term the best way to reduce you bills is use less, make your own if you can and use it at a time when your supplier will sell it to you cheap if you can.
Shopping round for the best tariffs and fixing or not are not daft things to do but are only short term really - still better than nothing.
And beware folk like me. If as some folk are suggesting the standing charge gets divvied up on the unit charge it will in relative terms benefit those who use less, but it will really benefit those who can self supply - typically middle class folk with a bit of capital and industry knowledge available.
And yes I don’t really like that as a situation but it real.
Octopus have emailed me that they will be doing fixed deals that are slightly lower than what we pay now from October.
What's the opinion of those that know?
What I was trying to say was simply that different circumstances should lead to different answers.
Thanks for clarifying that! (thought I'd sent this the other day)
What’s the opinion of those that know?
My cynical mind says that they are the ones in the know and that they wouldn't be offering fixed prices if they thought the price of electricity was going to go up!
I really don't know though - I have two accounts with Octopus and am wondering the same as you.
Just had an email from Shell to say my dual fuel DD is coming down to £135.00 / month. That's the cheapest it's been for years. (was £241.00/month last Nov).
So I'm sticking with SVR for now! 🙂
My British Gas one on the variable rates is now £91 on dual fuel for a 4 bed detached, but only 2 of us living here. Think the highest was £180. Waiting to see if a cheaper Fixed becomes available with them (the only one at present is more).
I'm with my employer and the special fixed rate is £33 cheaper than variable (allegedly, I can't see it on my options to change). Trouble is if I go variable I get a £48 discount. Oh well.
Nothing to gloat about mind, standing charge is going to more than double.
Email from Octopus yesterday saying energy prices are going to fall 8%, the standing charge is going up slightly and we're going to put you DD up by 25% so that you meet your target balance!
My response was that we finished the year in credit on the current payment, energy prices are going down and I have enough savings accounts thank you. Maybe they should make good on getting my smart meter readable remotely as promised 6 month ago. Went onto the portal and moved the payment back down. Bloody cheek!
Yeah, I got a 300odd quid refund the other day.
Same email here. And I'm £1k in credit as we were fearful of a huge rise...
It's hard to get through the language - they're saying the new tariff offer they've made to us as existing customers matches October's dropped price cap? Or matches the best tariff they will have in October, which will be below the price cap?
Our Octopus email said standing charges are staying the same, unit rates going down, and our monthly payments reducing to £90 (we're just under £500 in credit which I assume has been taken into account).
Assume standing charge increase/decrease difference is based on region you're in?
My current octopus electric tariff changes daily based on wholesale prices and it's been on the down which probably means gas is also on the down at the moment (presumably until we have a cold snap). I seem to be currently paying somewhere between 14p/kwh and 20p/kwh, which is definitely much less than 12 months ago. I'm wanting to switch back onto a previous tariff but standing charges, if you change to another tariff, look to have gone thru the roof. I'm not a big user, so standing charges make an impact.
