£3500

[Norfolkred1]

Lets all go on the meter, pay for what you use.

 

[RoaryTheLion]

We are with octopus and my wife got an email yesterday. To be fair to them, they are doing a lot to try and help. They did give figures of how much it cost them last year verrsus this. You may argue we don't need the middle men and this increases costs, which it does, but thats not octopus or any other provides fault.

I don’t see many huge profits coming from suppliers whereas producers are posting figures that are sticking two figurative fingers up to consumers.

 

[Boro_Interlinked]

The yearly price cap amounts are based on 12000 kWh gas energy and 2900 kWh of electric, and they were formed in the year before the pandemic ,based on actual use , reported to them by all he domestic energy companies. They have not changed the formula since , due to the pandemic affecting actual use as more of us worked from home. So that's a worry if you were an average house hold but now one or 2 of you work from home, and would like heating during the day for autumn and winter, actual energy use will be higher or would be if people could cover it.
The concept of yearly planning is out of the window for now with volatile changes every 3 months to SC and rate use for both , So I'm personally looking at this as just a 3 month plan Oct to Dec. I know what I used in that period last year and I know that the gov are giving me 200 through the leccy rebate in that period, but basically it doesn't balance, So will be using gas heating only on cold days or when I'm low with a bug or mood or weekends only, and then come up with a new plan for Jan to Mar as the crazy new rate will be announced early Dec

 

[ThePrisoner]

I don’t see many huge profits coming from suppliers

They're not suppliers, they are brokers. Pointless, middle-men.

 

[RoaryTheLion]

They're not suppliers, they are brokers. Pointless, middle-men.

Just a semantical difference. OFGEM classifies them as a supplier so that’s good enough for me. I agree with your point about them being an unnecessary agent if they don’t actually generate the electricity but you can’t actually buy your energy direct from the source (as far as I’m aware).

 

[Bristolboro]

I am paying £140 at the moment, octopus asking for over 500 a month, £6200 a year, told octopus not a chance, I will pay for what I use, nothing more !

I'm with Octopus and currently pay £144 (up from £89 two months ago), expecting them to treble it this winter.

What was their response when you told them to stuff it?

 

[ThatFragranceGuy]

I was listening to LBC last night at work, and a listening phoned in suggesting an interesting idea. Not saying it could or would ever happen, however hypothetically what if the majority of the country jumped energy suppliers thus splitting up the monopoly of the big six, I’m sure this must have an affect with millions jumping ship, they’d have no choice to either drop their prices to compete again or risk going under?

Wouldn't work, big 6 already been disrupted with npower shutting down and OVO, a challenger brand, buying SSE and bulb, getting big, failing. These companies aren't generating the energy they sell you, they buy it in the open market and most lose money or best case make a wafer thin wedge. Price cap isn't going up to bolster profit, it's flint up cos they have to buy that energy / gas and the Russian war and demand for gas has driven prices crazy

Whoever people switched to would just be charging you that amount instead.

 

[BoroPhil]

So if they do decide to limit the cap at current levels, what happens to the people who have jumped onto fixes now which could end up more expensive?

 

[Randy]

I'll keep paying my same monthly payment of £150 as I do now and deal with the debt later down the line. I don't see that I can do anything else. Not a chance that I'll be upping my monthly bill to over £300 a month and still be able to feed my family with inflation currently running rampant too.

Same here Baron.