Cost of living increases

[southendkid]

£2500 is still a 26% increase on what we're currently paying (although with the £400 we're getting the full impact won't be felt immediately) but not as bad as it could have been. This should make the bills a bit more affordable but poorer households are still going to seriously struggle, bills will be about double what they were last winter.

 

[blueblueblue]

£2500 is still a 26% increase on what we're currently paying (although with the £400 we're getting the rise won't be felt immediately) but not it's as bad as it could have been. This should make the bills a bit more affordable but poorer households are still going to seriously struggle, bills will be about double what they were last winter.

But it's £3000 less than the projected increase in Jan/April....

I agree the poorest will still struggle, but it's better than a poke in the eye with a sharp stick.....

 

[hlane17]

More debt lumbered on future working generations to pay off. Higher taxes will inevitably follow this intervention and detract from a future economic rebound and leave people out of pocket via another route once the 'energy crisis' is done.

Using gas to top-up the gap in energy production left by renewables could be a costly mistake that is felt for years to come.

Still, better than nothing.

 

[kaymac]

Many of the solar and wind generating companies lock in long term contracts to sell the electricity, it lowers the risk of building the things then prices falling. The contracts are multi year and are inflation linked, so they will have some uplift in revenue but not multiples. The other contracts they have are with the government - these are contracts for differences, if electricity price goes below a set level, govt subsidises back to the set level, if prices go above the set price the operator pays the difference to the govt. So with these the govt are making out like bandits, can't remember the latest number I heard, but it was billions of pounds.

The only way a solar/wind operator will make out like bandits is if they took the risk to construct the plants without any hedging - I doubt there are many of those.

The so-called govt subsidies end back on our bills so consumers are fleeced twice over with that and by paying high prices. As for wind-farm operators, take a look at an outfit like Greencoat who are making greater and greater profit margins with each passing year. (Watch Monday’s 30 minute Panorama, it’s a real eye-opener)

 

[Supershrimper]

Anyone who has started a switch or completed a switch might need to re-do some calculations as they would be overpaying. Probably best to wait until the charges are announced (kwh and Standing charge) and then calculate if you'd be overpaying compared to being on the standard variable tariff. NB to take into account an exit fees (which used to be £30 per fuel, but i've seen increased to up to £200 per fuel)

 

[blueblueblue]

Anyone who has started a switch or completed a switch might need to re-do some calculations as they would be overpaying. Probably best to wait until the charges are announced (kwh and Standing charge) and then calculate if you'd be overpaying compared to being on the standard variable tariff. NB to take into account an exit fees (which used to be £30 per fuel, but i've seen increased to up to £200 per fuel)

It will be interesting to see what happens to those on higher fixed rates.

 

[kaymac]

Understand BP Toomeys down another 1p on E10. Could a sub-150p be on the horizon?

 

[mattytheshrimper]

Understand BP Toomeys down another 1p on E10. Could a sub-150p be on the horizon?

what a dream that would be. filled mine up with a full tank this week for just over £70 which felt amazing after paying £95 in recent times.

 

[Mad Cyril]

Just had a smart meter fitted so I can keep an eye on my burn rate

 

[davewebbsbrain]

Understand BP Toomeys down another 1p on E10. Could a sub-150p be on the horizon?

149.9 now for E10

 

[RHB]

149.9 now for E10

Bugger, should have gone today instead of earlier this week.

 

[davewebbsbrain]

Bugger, should have gone today instead of earlier this week.

I think that every time i go there to fill up

 

[RHB]

I think that every time i go there to fill up

I might drive to Barnet and back tomorrow as the traffic will be lighter now and then I can fill up at Toomeys at the end of the journey. Good idea?

 

[davewebbsbrain]

I might drive to Barnet and back tomorrow as the traffic will be lighter now and then I can fill up at Toomeys at the end of the journey. Good idea?

Just drive about as normal. Once you get low, it'll probably be down to 145.9

 

[RobM]

I might drive to Barnet and back tomorrow as the traffic will be lighter now and then I can fill up at Toomeys at the end of the journey. Good idea?

No. Game's off.

 

[Tinks]

Managed to get the daily use of gas and electricity to below a pound yesterday. Now we are on a fixed tariff which runs till next autumn and it is just the 2 of us and obviously the central heating is off but I was quite pleased. We are unplugging the TV and computer at night (never did before) adjusted the boiler settings (although new this year it was on high set by the plumber) and only doing full washing machine and dishwasher. Main user of electricity is the new fridge freezer which is probably too big for us but looks great (a US style). We always see how long we can go without turning on the heating but this year we're going to try even harder.

Ditto - we have done the same and even reduced the lounge wall lights from 5 to 3
The big test is going to be the winter when the dark nights draw in and the weather becomes colder.

 

[blueblueblue]

I'm not sure if everyone is aware, for those who are on a higher fixed rate plan can opt out and pay the Gov fixed rate plan, with no penalty charge.

 

[Mad Cyril]

I had a KFC fro brunch at tarpots.

I had the same meal the same day for lunch at a KFC at Watford gap services and it cost 28% more.

At this rate a Zinger burger will cost thousands of pounds by the end of the month.

 

[davewebbsbrain]

Just compared my current Gas and Electric tariffs to what they will be from 1st October and there isn't the massive jump i expected
Electric

Kwh
Now 27.84
New 29.24

Standing charge
Now 36.11p per day
New 37.92p per day

Gas

Kwh
Now 6.994
New 7.344

Standing charge
Now 25.92p per day
New 27.22p per day

 

[Holy Joe]

Just compared my current Gas and Electric tariffs to what they will be from 1st October and there isn't the massive jump i expected
Electric

Kwh
Now 27.84
New 29.24

Standing charge
Now 36.11p per day
New 37.92p per day

Gas

Kwh
Now 6.994
New 7.344

Standing charge
Now 25.92p per day
New 27.22p per day

Govt has limited the unit charge and standing charge for domestic customers for 2 years, was announced last Thursday. Without that the large increase would've happened.