Harringay, Haringey - So Good they Spelt it Twice!
You've heard about energy prices increases - have you checked what it will mean for you?
I checked our options for energy supply in the future and was shocked at just how much the prices are going up.
With the best offer from out current supplier (Ovo), there would be a 53% increase in our annual bill. The best I was able to find was from Outfox (the only company still selling at July prices, it seems). But this will still mean a 38% annual increase.
When I compare prices, rather than relying on the calculations from comparison sites, I take usage from the previous year's bill and tariff charges from the suppliers. Below are the details:
| Gas | Elec | ||||
| pkwh | standing | pkwh | standing | annual | |
| Ovo 2020-21 | 2.25 | 16.32 | 14.16 | 18.89 | xx |
| Ovo best offer 2022-22 | 3.85 | 22.147 | 19.6 | 23.39 | xx |
| increase | 71% | 36% | 38% | 24% | 53% |
| Ovo 2020-21 | 2.25 | 16.32 | 14.16 | 18.89 | xx |
| Outfox 2022-22 | 3.32 | 24.65 | 18.28 | 21.596 | xx |
| increase | 48% | 51% | 29% | 14% | 38% |
Have I simply failed with finding a good deal this year. or are prices just going staratpsheric?
Tags for Forum Posts: energy prices
Replies to This Discussion
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Permalink Reply by Maddy on
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They've already been going up gradually all year, so if you have been on a fixed rate from 2020 I'm afraid there's going to be a big jump wherever you look.
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Permalink Reply by Bob Ruggles on
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With E.O.N. Next. Recently got a new meter, one that tells them over their phone line of your use
Meter charges are a fraction of what they was with old read yourself meter
Have put in a challenge old meter
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Permalink Reply by Paul C on
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Ovo recently sent me a bill for £700 - saying it was for my previous address from which I'd recently moved. I last moved two years ago. I've never had an account with Ovo Energy. They just decided to put my name onto account for no good reason. Ovo can go f*** themselves several times over. I'd encourage anyone with Ovo to switch even without the astronomical increase in bills.
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Permalink Reply by Dick Harris on
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I am interested but surprised to hear this about Ovo. I switched to them several years ago because I found their customer relations so incomparably excellent. I haven't had the slightest problem with them. I had previously been with British Gas (who were utterly useless in all of my dealings with them) and the descendants of Easter Electricity who were unproblematic. In my experience, Ovo trumped the lot and have never given cause for anxiety. My current contract was fixed for two years from January this year so I hope they haven't over-reached themselves.
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Permalink Reply by Pamela Harling on
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Dear Hugh, yes it is a shock, but energy prices have been comparatively low in the UK for some time (compared to Europe say). Part of the price increase is to invest in new low carbon infrastructure and as we have left this to the last moment, of course, it is going to cost a lot. The most important thing to do is to look at how you might reduce your home energy use. Hopefully, (let's lobby for this) the government will introduce a new grant scheme to assist with this. It is not easy to get good advice about home energy - every house is different. Can I advertise a greenhomes week taking place 13th to 21st November, run by Muswell Hill Sustainability Group? the details are not finalised yet but booking will be via the MHSG website. It is a chance to talk to home owners who have made their houses energy efficient. I can recommend also taking a look at the Cambridge Carbon Footprint website (events), the Centre for Sustainable Energy and the Superhomes website.
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You really think that bosses and shareholders won't use it to increase their own already inflated income?
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Hugh
I am with Octopus on variable tariffs since earlier this year when I came off their fixed tariffs.
Gas 2.88/kWh and 19.64p/day incl VAT
Elec 17.87p/kWh and 23.44p/day incl VAT
But thorough moneysavingexpert's Cheap Energy Club there are a few cheaper deals than the ones you quote.
Prices went down but are now on the way up again.
I looked at fixing but no supplier gives me any real savings. I can save £1/year by switching to Avro's 12month fixed tariff!
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Permalink Reply by Hugh on
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Thanks. I'm just looking at fixed deals, because. as you say, prices are headed in the wrong direction!
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I looked at the price cap that will apply to variable tarrifs from October. That will work out at 4p per kwh for gas and 21p for electricity. As I understand it, pretty much every supplier will be charging right up to the price cap barrier.
Apparently, there'll be a new, and probably much higher, price cap set next April.
I fixed at Outfox's July fixed tariff rates of 3.32p and 18.28p. So, whilst it's quite a jump from where we were before, as things stand right now, on my reading of things, I'm glad to have re-fixed when I did.....that is of course until my supplier goes bust (apparently only the big six are considered to be anything like safe bets). Just wish I'd done a multi-year fix last autumn!
I checked on a couple of price comparison websites and they both now return nil results. So, I'm glad I switched a bit early.
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Martin Lewis's "emergency info" on this is useful.
He also says that not all price comparision sites show all the deals available.
Each consumer needs to take action based on their specicifc situation...
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