Jaycey

African Refugee
Energy costs UK
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Are higher energy bills here to stay?

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Sky-high gas prices may prove to be more than a blip as energy shortages drive more suppliers out of business in the coming months, the head of Ofgem has warned.

Jonathan Brearley, chief executive of the energy regulator, told MPs yesterday that the number of customers affected by a surge in natural gas prices was already in the “hundreds of thousands” and could increase to “well above that”...
 

yalimart

The Carnwath Massive
Energy costs UK
The smaller companies became companies because they were prepared to take the risk that their pricing structure would outpace the cost of the product, not unusual in any business to take risks, they did and lost, without them people would have been paying much more for their energy. They will be missed when the big big bills start to drop on peoples doormats. My sister case in point has stuck with British Gas for years, we have shown her what she could have paid but she stuck with what she knows as she doesn't trust banks. Sometimes 30 to 35% more.
 

esb1841

Member
Energy costs UK
Aren't they the ones that should have seen these price rises coming and planned accordingly?
Some suppliers purchase supplies in advance at a fixed price or some of them take out a hedge insurance policy against price increases
some suppliers choose to purchase on a daily,weekly or monthly rate and don't take out any insurance policy against price increases
Sometimes the purchase on a daily,weekly or monthly rate works out at a lower rate due to falling demand, resulting from covid lockdowns or extremely hot summer
With hedging their are always some winners, some losers for years now Ryanair has always bought its fuel 12 months in advance which is good if the price of fuel goes up and bad if the price of fuel goes down

Ryanair chief to change jet fuel hedging strategy after €900m loss​

 

Maisie

Member
Energy costs UK
For once, I seem to be okay - for the present.

I have been with Octopus for about four years now. My contract renews every February. At the moment, I am on a fixed rate until February 2022. What will happen then remains to be seen. I have always paid more each month than they wanted, in order to provide a 'cushion' should I need this during the heavier bills period during the winter. According to the press releases and media reporting, Octopus is not likely to go to the wall. But, I suppose nothing is a 'given' in these times.

Prior to Octopus, I was with Eon, also a fixed contract to April every year. Always have done this. Each contract renewal, I used to call them and request 'payback' of about 50% of the amount I was in credit. Octopus uses part of the credit for a few months following contract renewal, which I am quite happy with as I am able to tell them when to resume direct debits.

I actually got my dual fuel bill today from Octopus. I am £633.37 in credit after this current bill. Octopus bill monthly, so it is easier to calculate for budgeting. They also advise with every bill whether they offer a cheaper tariff, which is handy to see. I am on their cheapest, which I would imagine will be vastly beneficial until next February. Then the solid stuff will probably hit the air conditioning!

One thing I am puzzled by though. Why are Smart Meters pushed as 'saving you money'? All they do is tell you your usage. I suppose this could produce a frenzy in turning things off. In any case, I can't have one of these. I mentioned this before on here somewhere. It was quite a few years ago now when I decided to investigate this, having been taken in by the advertising. I have a basement where both of my meters are. It seems that, at that time, the Smart Meters would not work with 'underground' meters. I complained to British Gas, asking if all basement flat owners could not take 'advantage' of this latest so-called "money-saving technology". They did reply, but it was a total cop-out basically. By that time having discovered what a misleading racket this was, I did not pursue the matter. Don't see the need for this gizmo.

I suppose I could reduce my electricity consumption by turning my computer off at night, and the printer. Also, reducing the number of small table lamps I use every evening. I have these on timers, so I could use them for about one hour less. But I don't think this would make much difference. I have tinnitus, and find that by leaving the TV on in the bedroom overnight helps with getting to sleep. Don't know how much it would save by turning it off. I cannot disconnect my fridge and freezers. My consumption compared like for like with the same month in previous years is roughly the same. Since Dave died, I have not used my "big" cooker very much though. I use my microwave, a halogen cooker and a small table top oven which also has two plates on the top. When the oven of this is being used, the plates heat up anyway. Enough to heat a saucepan of baked beans! This has made a difference, but not a lot.

I suppose, like a lot of people now, I will just have to wait and see. Martin Lewis on the TV last night, said that he thinks the situation will get better in the next few months. Hope he is right.

Maisie
 

Mushroom

Member
Top Poster Of Month
Energy costs UK
Aren't they the ones that should have seen these price rises coming and planned accordingly?

We didn't see panic buying of fuel at the pumps either a week ago. We knew there was a driver shortage months ago. What a balls up.
 

Mushroom

Member
Top Poster Of Month
Energy costs UK
I've just submitted a final meter read to the Utility Point hub and at the same time taken screen shots of other recent readings and statements.
We are about £500 in credit as the idea was always to pay more in summer to carry us with a good credit through winter.
It should work out fine to get to spring if we keep the same monthly payments to EDF and use the surplus as well.
 

Saoirse

Moderator
Energy costs UK
My electric Bill's in Turkey are roughly the same as my ones in Spain

Sadly my place in Spain is empty with the electricity switched off- gives you good idea of Spains standing charges
 

Hilsjw

Member
Energy costs UK
Remember those huge gas storage plants - most large towns had one, more or less out of sight. We had one in Worthing, it stood empty for years but has recently been demolished. Why did we get rid of them. I can't remember gas shortages years ago. Probably selling all our utilities off to France etc. Now look at the result - the price we have to pay for our foolishness.
 

enoch

Member
Energy costs UK
Remember those huge gas storage plants - most large towns had one, more or less out of sight. We had one in Worthing, it stood empty for years but has recently been demolished. Why did we get rid of them. I can't remember gas shortages years ago. Probably selling all our utilities off to France etc. Now look at the result - the price we have to pay for our foolishness.
Our small town had 2 tanks stood empty for years, knocked them down for housing 35 years ago.
 

yalimart

The Carnwath Massive
Energy costs UK
Remember those huge gas storage plants - most large towns had one, more or less out of sight. We had one in Worthing, it stood empty for years but has recently been demolished. Why did we get rid of them. I can't remember gas shortages years ago. Probably selling all our utilities off to France etc. Now look at the result - the price we have to pay for our foolishness.
Thats what you voted for Hills
 

Hilsjw

Member
Energy costs UK
Yes, I believe it was Mrs. Thatcher who sold off our utilities and council housing too. All come home to roost, I'm afraid ! I had an idea about council housing - build on brown sites, expensive I know, but keep the rents affordable (hoping that many will be able to save for their own properties eventually ) but with the understanding that their social houses are NOT for sale. Off topic, just had to mention it.
 

mollag

Kipper restorer
Energy costs UK
Remember those huge gas storage plants - most large towns had one, more or less out of sight. We had one in Worthing, it stood empty for years but has recently been demolished. Why did we get rid of them. I can't remember gas shortages years ago. Probably selling all our utilities off to France etc. Now look at the result - the price we have to pay for our foolishness.
Those old gasometers stored as gas, not liquid I think with our complex gas piping systems, we can store gas under the sea bed, I think Morecambe bay is used for that reason. It's difficult to store Liquid gasses on land, the refrigeration effect can be huge with bulk storage.
 

Mushroom

Member
Top Poster Of Month
Energy costs UK
They were sold off with the land years ago by British Gas, by a department that made hundreds of millions throughout the UK doing exactly that. I did a bit of work with them and they were a relatively small department but with offices in Basingstoke, Cardiff, Birmingham, Manchester and Edinburgh.
I visited their offices several times and that was their sole purpose - to sell off the land for development as the gas storage had always been in town's and cities when it was 'town gas'.
 

yalimart

The Carnwath Massive
Energy costs UK
Our fixed plan ends at the end of next month so this morning aware that there was nothing really on offer, we currently pay 25p per day standing charge and 12.5p per unit and use around 13,000 Kwh as we are all electric which costs around £1700 per year.
I got a couple of quotes ranging from £3000 to £3600 per year, my minds made up, thermostats have all been turned down and I'll get my big coat ! I generally laze about in scruffy shorts and t shirts
I can see the log burner coming into its own this winter.
This is going to push people into serious poverty that were already on the edge and I guess some that were just doing ok.
Anyway our supplier Symbio has gone tits up this afternoon.
 

juco

Member
Energy costs UK
Make sure and take dated images of the meter readings to avoid disputes when `new` company takes over, I have done and will also take daily readings until the `new` company is up and running.
 

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