Energy bills

[Noggin]

EDF has sent me a few notes pointing out that my electricity usage is way more this year in May, June and July than last year. Not sure they actually read replies that say "I wasn't in the apartment for those months last year" !!!

[Kneerly Down]

Some of you have to pay for water?

[Horse]

Some of you have to pay for water?

They get us to pay twice for the same water!

Pay for it clean out of the pipe, pay again for it to be taken away once used (along with whatever extras we let them have).

[Taipan]

I've never liked the idea of getting something metered that I can get unlimited, but the savings do seem to have remained worthwhile?

[Count Steer]

I've never liked the idea of getting something metered that I can get unlimited, but the savings do seem to have remained worthwhile?

I thought that, then, when we moved into this place there was a water meter already. Despite being at home much more the bills are considerably less than the previous place. (About 1/3 less iirc).

We're not wasteful with it ie no lawn watering etc but then we weren't when it was unmetered.

[Docca]

My gas and leccy going up to £550/month

Water is something like £70/month

[MrLongbeard]

Shell now offering fixed rates again, it's about what I'm paying now, £160pm, which will mean I'd probably miss out on the cap reduction in October, but then the cap is predicted to raise in January.

So it's a gamble as to whether or not it's worth it depending on what the next cap increase may or may not be

[Mussels]

My gas and leccy going up to £550/month

Water is something like £70/month

Are your solar panels helping or are they mosty decorative?

[irie]

Our Shell 24 month contracts expires end September 2023. Shell is currently offering 13 month fixed contracts but we'll make a decision mid September. Will be interesting to see what (if any) effect the fact that European gas reserves are now 90% full (three months ahead of schedule) will have on energy prices.

[Horse]

Octopus have just announced 12 month fixed price, suggesting about £10 saving over the year.

Any thoughts on likely price changes?

[Treadeager]

My contract is just about to run out . EDF are offering a fixed price contract to end Sept 2026 as below

Estimated usage 3,208 kWh £114 per month £1368 per annum ( 44.15 p daytime / 8,57 night ) if that helps ?

[Horse]

More a case of the entrail-gazers having an informed opinion on how wholesale prices might change in the contract period.

ML MSE suggesting a drop in the autumn and rise in spring.

If that were to be the case, that would - roughly - mean lower prices when we're using more.

But if ML has published it, then Octopus will now know so presumably have factored it in.

Here's the proposal:

Based on the latest industry estimate of your energy use. Regular readings make this more accurate.

Tariff cost breakdown

Electricity
Daily standing charge 47.95p /day
Unit rate 28.36p /kWh
Early exit fee
(For changing tariff or supplier)
£75

Gas
Daily standing charge 27.47p /day
Unit rate 7.14p /kWh
Early exit fee
(For changing tariff or supplier)
£75


MSE
https://www.moneysavingexpert.com/utili ... orth-it--/

[Count Steer]

Octopus have just announced 12 month fixed price, suggesting about £10 saving over the year.

Any thoughts on likely price changes?

Anyone's guess Hoss. Just heard a bloke talking about the wholesale markets. They've adjusted to cover the loss from Russia but they're very tight. eg a threatened strike in just one of the bits of the Australian gas industry caused prices to spike by 30%. They called it off, hence it was just a spike. Volatility is the order of the day for the time being. If you lock in for 12 months at least you know what your costs are going to be and can plan accordingly.

[Horse]

Shell have offered me a lock-in price, but I haven’t bothered looking at the market enough to know if I’m being rinsed or not.

I’d be surprised if they were doing it for my benefit.

Indeed. They will be offering them because people ask for them and - presumably - they predict more stability in the market.

The predicted fall was mentioned as happening on the news yesterday.

Realistically, do you think that energy prices will stay lower?

[Count Steer]

Shell have offered me a lock-in price, but I haven’t bothered looking at the market enough to know if I’m being rinsed or not.

I’d be surprised if they were doing it for my benefit.

I wouldn't be too sceptical about time fixed deals tbh. Yes, it locks in customers but it gives them forward visibility ie known cash flow so they can trade in futures with a firm view of income and demand. Their retail outfit can borrow on a better basis on a defined future income (as can most of us) to buy next years gas. For the customer it puts the risk on the supplier so, in a sense, they have better forward visibility and can plan better too.

[Horse]

Realistically, do you think that energy prices will stay lower?

If it was worth a lot to me then I’d research it but I’m fairly apathetic about it - a few hundred quid a year isn’t worth my time, I spend more on pretentious coffee.

Apart from the coffee (L'Or instant here), my thoughts too. Daily charge isn't going to alter either.

[Count Steer]

Fixed rate mortgages worked out pretty well for a lot of people. I wouldn't say that corporate risk bods predict the future perfectly every time.

[Horse]

Fixed rate mortgages worked out pretty well for a lot of people. I wouldn't say that corporate risk bods predict the future perfectly every time.

One of the few good choices I've ever made was a 2 year fixed deal in June 2021!

[MrLongbeard]

Shell now offering fixed rates again, it's about what I'm paying now, £160pm, which will mean I'd probably miss out on the cap reduction in October, but then the cap is predicted to raise in January.

So it's a gamble as to whether or not it's worth it depending on what the next cap increase may or may not be

Shell have offered me a lock-in price, but I haven’t bothered looking at the market enough to know if I’m being rinsed or not.

I’d be surprised if they were doing it for my benefit.

Just been digging through Shell & the MSE energy club info.
If what you've been offered is the same or close to what they offered me it ain't worth shit, only 0.5% less than the current cap that's due to be cut in October, and they're insisting on having smart meters installed to get the 'deal'.

Yeah but nah

[Horse]

Just been digging through Shell & the MSE energy club info.
If what you've been offered is the same or close to what they offered me it ain't worth shit, only 0.5% less than the current cap that's due to be cut in October

Octopus estimated offer is £10 per month lower, total £2006 (inc daily charges) for the year.

My fuel use is only likely to be reduced by better weather, we've made pretty much all the usage reductions we can.