Cost of living increases

[Supershrimper]

EON Next are offering me a 12 month dual fuel deal with monthly payments of £178. I'm currently on their flexi contract which is costing me £249 a month. EON reckon this will reduce soon as they bring down their prices per unit. So does a 12 month fixed cost deal sound attractive in the current climate? For some reason, as yet not clear to me, I'm not sure whether to go for the new deal.

Martin Lewis did a programme last week on itv that talked about whether to fix or not. Would be available on itvx to watch again. I think the prices should reduce by 17% come July.

I only caught the end of it but I think it compared any possible fixed deals either the protections for the price cap and wholesale gas prices.

Shell haven't offered me anything yet so would only look to calculate if its good as and if they were to offer a fix.

 

[BALDY]

The price of my caviar has gone up. What what.

I was given some in Harrods (I kid you not)

 

[Billy Bests boot laces]

EON Next are offering me a 12 month dual fuel deal with monthly payments of £178. I'm currently on their flexi contract which is costing me £249 a month. EON reckon this will reduce soon as they bring down their prices per unit. So does a 12 month fixed cost deal sound attractive in the current climate? For some reason, as yet not clear to me, I'm not sure whether to go for the new deal.

I had an e-mail from EON saying my cost of electricity will decrease. I pay them monthly online, which is about £40 per month.
My father in law whose home is in Hadleigh, has been in Aussie for the last 4 years, the electricity has been turned off, yet they still bill him £63 monthly for their estimated usage!!!.
I've tried many times to call them & explain the situation, waste of time as i'm not his next of kin!.
So it's basically a savings account ( with no interest ) until he dies, when all the credit ( currently about £1k ) will be refunded to his estate.

 

[Holy Joe]

Martin Lewis did a programme last week on itv that talked about whether to fix or not. Would be available on itvx to watch again. I think the prices should reduce by 17% come July.

I only caught the end of it but I think it compared any possible fixed deals either the protections for the price cap and wholesale gas prices.

Shell haven't offered me anything yet so would only look to calculate if its good as and if they were to offer a fix.

Had an email from EDF today regarding gas price - unit charge reducing by around 25%, standing charge unchanged.

Not had anything about the leccy yet.

 

[Tangled up in Blue]

I was given some in Harrods (I kid you not)

Ha! reminds me of the time I bought a pair of shoes there (some time ago now)Two security guards chatting at the front door "they're even coming in for shoes now (meaning me the hoi polloi presumably). Don't they think the majority of their patrons speak English? Or is it they just don't care?

 

[BALDY]

Tangled: Take a look at these........https://www.harrods.com/en-gb/departments/technology#technology-tv-cinema

 

[Floval Flyer]

EON Next are offering me a 12 month dual fuel deal with monthly payments of £178. I'm currently on their flexi contract which is costing me £249 a month. EON reckon this will reduce soon as they bring down their prices per unit. So does a 12 month fixed cost deal sound attractive in the current climate? For some reason, as yet not clear to me, I'm not sure whether to go for the new deal.

Experts are saying better deals will come around October. I’m going to wait it out, as hope to use very little energy until winter.

Would recommend checking they’ve calculated the monthly against your true usage. Simple excel sheet using annual usage x kWh for gas and leccy, plus standing daily charge. Total / 12 and your have a proper comparison

 

[Supershrimper]

Had an email from EDF today regarding gas price - unit charge reducing by around 25%, standing charge unchanged.

Not had anything about the leccy yet.

Really this or the next government needs to look into how electricity is charged.

The cost of electricity tracks the cost of gas because gas generation sets the marginal wholesale price.

The wholesale price of electricity is set by the cost of producing the last unit of electricity needed to meet demand. This is nearly always a gas power plant with high marginal costs.

Put simply, when demand for electricity is high – when the sun sets and lights are turned on – gas-powered energy plants step in when other forms or electricity generation, like wind, are low, or supply is otherwise disrupted

 

[Billy Bests boot laces]

Ha! reminds me of the time I bought a pair of shoes there (some time ago now)Two security guards chatting at the front door "they're even coming in for shoes now (meaning me the hoi polloi presumably). Don't they think the majority of their patrons speak English? Or is it they just don't care?

Have only been in there once , about 20 years ago. We observed a woman in the lingerie dept paying £40 each for some pairs of knickers!.
Why pay that amount when no one can see them, apart from her partner?. And i doubt he'd take any notice of them as she pulled them off, just waiting to give her a session!!

 

[WightShrimper]

Martin Lewis did a programme last week on itv that talked about whether to fix or not. Would be available on itvx to watch again. I think the prices should reduce by 17% come July.

I only caught the end of it but I think it compared any possible fixed deals either the protections for the price cap and wholesale gas prices.

Shell haven't offered me anything yet so would only look to calculate if its good as and if they were to offer a fix.

I got moved to Shell when all the other companies went down. Will be being moved again soon as Shell are moving out of the domestic market.

 

[Supershrimper]

EON Next are offering me a 12 month dual fuel deal with monthly payments of £178. I'm currently on their flexi contract which is costing me £249 a month. EON reckon this will reduce soon as they bring down their prices per unit. So does a 12 month fixed cost deal sound attractive in the current climate? For some reason, as yet not clear to me, I'm not sure whether to go for the new deal.

Just watched the episode (Series 13 Episode 1) The rule of thumb to fix is:

If its the same or cheaper than the July cap then it looks good to fix.

July cap should be around 17% less than what you are charged currently. Cornwall Indight predict it will then drop by a further 7% and then a rise in January by around 1% (but these figures are just predictions)

It all depends if you want certainty on what you pay. I'm sure it would only take Vlad to start bombing the wrong area for Ukraine etc to increase prices.

 

[Supershrimper]

I got moved to Shell when all the other companies went down. Will be being moved again soon as Shell are moving out of the domestic market.

Just seen that by doing a Google search. It looks like Ovo energy and Octopus energy have tabled bids.

I did wonder why Shell had stopped hounding me for a Smart meter. I'm more than happy to have one but it can't be fitted in as the electric meter would go into a metal cabinet where my current fuse board and meter is. It's not SMS Plc policy to fit them within these metal cabinets.

 

[Mad Cyril]

Interest rates up to 5%....

 

[THE SEVENTIES NORTH BANK]

Interest rates up to 5%....

That won't help with all this profiteering and record profits going on. They need to get a grip on that first. On a side note, I have a very limited budget per week, like many others. I get corned beef as one of my cheap sandwich fillers. In Iceland last year I got 7 pieces in a pack for £1.20. Now it's 3 pieces in a pack for £1. That's just an example, there's thousands more as you know. The food and bits prices or reduced amounts in a pack is crazy at the moment. A lot of stuff has gone up over 100% within a year. All you that do the shopping will know.

 

[WhiteNoise]

That won't help with all this profiteering and record profits going on. They need to get a grip on that first. On a side note, I have a very limited budget per week, like many others. I get corned beef as one of my cheap sandwich fillers. In Iceland last year I got 7 pieces in a pack for £1.20. Now it's 3 pieces in a pack for £1. That's just an example, there's thousands more as you know. The food and bits prices or reduced amounts in a pack is crazy at the moment. A lot of stuff has gone up over 100% within a year. All you that do the shopping will know.

Indeed, the interest rates are to suppress spending (basically make people poorer) to try to bring the inflation rate down. it doesn't deal at all with the supply side issues that are leading to high inflation.

A reminder as well that it's not wages that are driving inflation either. This country is in the bin, and the government are a disgrace.

 

[Smiffy]

Interest rates up to 5%....

Yeah absolute ball ache for me and anyone else who has to remortgage shortly. In the last 3 weeks alone my offers have been withdrawn and changed twice, because of the rate hikes. In that timeframe alone its jumped about 1.2% actual on the product offerings.

I will see my repayments go up nearly £600 per month. I've gone from around 1.2% fixed a couple of years ago, to around 5.5% fixed.

Absolutely savage. Still, at least energy prices are falling a bit eh, that will help

 

[Its Only A Game]

Yeah absolute ball ache for me and anyone else who has to remortgage shortly. In the last 3 weeks alone my offers have been withdrawn and changed twice, because of the rate hikes. In that timeframe alone its jumped about 1.2% actual on the product offerings.

I will see my repayments go up nearly £600 per month. I've gone from around 1.2% fixed a couple of years ago, to around 5.5% fixed.

Absolutely savage.

This is why the interest rate hikes haven't really had an effect on inflation.

Something like 80% of people are on fixed rate mortgages where the interest hikes have no effect at all until it comes to the end of the term. Back in the 90's and early 2000's i think it was only something like 20% on fixed mortgages so interest rate hikes used to kick into inflation much quicker.

 

[Sammy Shrimper]

Had an email from EDF today regarding gas price - unit charge reducing by around 25%, standing charge unchanged.

Not had anything about the leccy yet.

I’m with EDF. Had a similar email. Electricity unit charge rate is going down from 33.98p to 30.72p. Standing charges remain the same.

I’ll be onto them to reduce my monthly DD!

 

[Supershrimper]

I feel so lucky that we went onto a 10 year fix in 2018 after the birth of our 1st child. 2.39% was high then, especially when interest rates were so low but we wanted to know exactly how much our mortgage payments would be for the next 10 years allowing us to budget and manage going from 2 full time wages to 1 full time and 1 part time,

 

[The General]

I feel so lucky that we went onto a 10 year fix in 2018 after the birth of our 1st child. 2.39% was high then, especially when interest rates were so low but we wanted to know exactly how much our mortgage payments would be for the next 10 years allowing us to budget and manage going from 2 full time wages to 1 full time and 1 part time,

10 year fixed!? Who was that with!? Highest I've seen is 7 year. We renewed ours at the back end of last summer with Simon (first4mortgages) who as always is very good and gets it all sorted and onto another 5 year fixed. Payment went up about 18% then but dread to think what it would be now.