Energy Prices - are they taking the piss???

TheWanderer

Striker
Got a letter today from British Gas, my current deal is around £1540 a year, if I leave it to go on to standard variable rate it will rise to £2241, but they’re offering me a deal on a like for like basis, fixed until Jul 2023 for £3687!!!

Over doubling the unit rates and about 20% on standing charges!

Been onto comparison sites, which come back saying due to rising energy prices there are fewer deals available at the moment.

How the f***ing hell are already struggling families going to afford this hike in prices! I’ve had my head buried for a while, but how has this been allowed to happen?
 


Tom333

Goalkeeper
My Dad had the same - revert to BG variable rate and pay 50% more, or as a valued customer transfer to a new, recommended fixed deal until July 2023 at more that double what he pays now. I’m sure has has gone up about 40-50% so why the more than 100% increase deal offers?
 

Boinger

Winger
Pretty much identical experience as you wanderer. Having been on a fixed tariff for the last year, our combined gas/electric payment has almost trebled.. a real eye-opener, and nothing better on comparison websites. It's going to be a struggle for sure. :cry:
 
My fixed rate is due to end Feb, been quoted similar prices from Octopus, I'm just hoping it's sorted by then
Got a letter today from British Gas, my current deal is around £1540 a year, if I leave it to go on to standard variable rate it will rise to £2241, but they’re offering me a deal on a like for like basis, fixed until Jul 2023 for £3687!!!

Over doubling the unit rates and about 20% on standing charges!

Been onto comparison sites, which come back saying due to rising energy prices there are fewer deals available at the moment.

How the f***ing hell are already struggling families going to afford this hike in prices! I’ve had my head buried for a while, but how has this been allowed to happen?
Essentially gas prices internationally, we use gas to heat our homes but thanks to thatcher we also use it to make electricity in power stations . So it's all Thatchers fault as per usual.
 
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Marty Moose

Striker
Same here. Currently pay £1200, their like for like the cheeky buggers want £2700.

It's a lottery as the price cap is only going to go up when that gets reviewed in a couple of month's time, so the standard variable will go up, although to what extent is anyone's guess.

My fix runs out the end of this month, just crossing fingers the worst of the cold snap is out of the way so i can ease right back on the central heating.
 

Keawyeds

Striker
I managed to move from British Gas to Bristol Energy at the beginning of the month. I put the wheels in motion to move last month. I looked on several comparison sites and that was the only one I could find that was fractionally cheaper than BG.
Going to look at solar panels for the house when we sell the flat. Whether it'll alter our bills a great deal I don't know but I won't have the capital to do it again any time soon I suspect.
 

bennett83

Striker
This is my current rates , no idea how it compares to others

Unit rates
Electricity: 19.64p per kWh

Gas: 3.73p per kWh

Standing charges
Electricity: 26.45p per day

Gas: 23.85p per day

Current annual amount: £1,520.41

But they can do me a fixed deal for £2,921.99

Total piss take bearing in mind my first year with Octopus was £996
 
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David M

Striker
We'll know at the end of the month how much the new price cap will be but it's forecasted to rise approx. 50% from its current £1,277. In my circumstances it makes sense for me to 'do nothing' and stay on this as no current fixed tariff would beat this.
 

David M

Striker
Got a letter today from British Gas, my current deal is around £1540 a year, if I leave it to go on to standard variable rate it will rise to £2241, but they’re offering me a deal on a like for like basis, fixed until Jul 2023 for £3687!!!

Over doubling the unit rates and about 20% on standing charges!

Been onto comparison sites, which come back saying due to rising energy prices there are fewer deals available at the moment.

How the f***ing hell are already struggling families going to afford this hike in prices! I’ve had my head buried for a while, but how has this been allowed to happen?

Just to add, prices rocketed when demand shot up when lockdowns were eased. What doesn't help the UK's position is that we only have enough gas storage of approx. 2% of our annual demand whereby other countries with similar climates have between 25-36% so their impact would be different to ours.
 

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