Will the price cap thread return?

@Richard.Dane

I saw there were some vague potentially political comments just as people were showing their new tariffs which was quite handy as a guide.

Hopefully just buried under moderation until time allows?

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Eon Next’s price comparison…

Received from my supplier, Bulb, yesterday:

" From 1 April, our prices will be increasing

We’re increasing our electricity unit rate from 20.306p to 27.627p per kWh and electricity standing charge from 23.759p to 44.750p per day."

A large hit for me but I´ll surivive even though my fuel bill will be about 10% of my income. Undoubtedly, many millions more will pushed into poverty though.

To clarify, my house is electric only.

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“Interesting” that Eon and Bulb’s new rates are identical. Competition my arse.

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I was with SSE who are now OVO. No details yet.

I’m in the same position as you, electric only, no gas usage currently and yes I anticipate my costs rising to around a month’s take home pay without radical usage changes.

Actually I just checked and over 10% of income spent on fuel used to be the definition of ‘fuel poverty’. I’m luckier than many in that my mortgage is all paid off and I have a (slightly) higher than average monthly salary and no dependents.

God knows how some people will cope.

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Thats the Price Cap at work, I guess…?

Yes, politics inevitably arose. It needs review and editing.

Even so, I’m looking to cut back on a number of things to reduce my outgoings and not planning any major expenditures in the forseeable future.

One thing we can do, is to watch our Meter Readings closely. Despite being on a Smart Meter, I had an estimated Gas reading. Replacing this with a real one, moved my account from Deficit into Credit.

Result…!!!

For those that are on EON, please see if you get offered the “Next Online v11” tariff. It’s a 12 month fixed rate, but the rate appears to be identical (or extremely close) to the April capped rate. So as I read it, if the capped rates go up in Oct 22, you are winning. If they go down, then this tariff has a free exit cost, so you just switch back.

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I’m on the verge of spending £13k net on a 14kW Mitsubishi EcoDan ASHP which should last twice as long as a gas boiler, my current one being 8 years old. This includes about 10 more powerful double panel rads, a large 300l HW cylinder, lots of controls, and a large buffer tank. The ASHP will make sense when I get solar with battery storage - probably have to wait till early 2023 for the Tesla PowerWall. In the U.K. we are 50% decarbonised, but the solar should boast my decarbonisation much higher.

Phil

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Scary stuff; according to their estimate my bill is up by 67% from April. :flushed:

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I need to go through my Octopus quote, but quick glance electric is double last year and gas treble!!

Interestingly the flexible tariff is much less although clearly still substantially higher than current. I’ve always tended to go for 12 month fixed term but not so sure now. Also Octopus is the only Which recommended provider so I don’t want to switch away

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Original thread is now back out of quarantine.

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