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My electricity bill has just tripled: how about yours? Alternative suppliers?

alex_ said:
If they are fully hedged they will be fine - they are right it’s generators - in particular any with fixed input costs not related to gas or oil prices who are making out like bandits in this crisis.

That’s nuclear and renewable generators in particular.
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If they are fully hedged they shouldn't be putting their prices up at all.
This is like Roulette where the gamblers are charging the cleaners for their losses.
 
What will happen with those taking part in this Don't Pay campaign will they just get their £67 knocked off what they owe? And what about people on pre-payment meters? I haven't heard fuck all what I'm getting.
 
JoeyBoy said:
What will happen with those taking part in this Don't Pay campaign will they just get their £67 knocked off what they owe? And what about people on pre-payment meters? I haven't heard fuck all what I'm getting.
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www.gov.uk

Help with your energy bills

Get help with your energy bills through the Warm Home Discount, home energy improvement schemes and the Energy Bills Discount Scheme for businesses.
www.gov.uk www.gov.uk

This outlines most situations and should be followed by all energy suppliers.

ETA sorry I don’t know how Don’t Pay will be affected
 
Question: I live in a shared flat, and my flatmate who has been looking after the bills is moving out. I therefore need to start a new energy contract in my name.
We are currently with Octopus, and used to pay £110 a month for gas and electricity for three people, which was put up two months ago to £216.
Does anyone know, can I expect that this £216 is similar to what we will be billed when I start a new contract, and is this the sort of amount that's currently expected to cover the winter months if paid monthly, or is this higher amount expected to rise by x1.5 or x2 again???
(I have read the entire thread, but am struggling to translate to what it might mean for my situation).
 
zora said:
Question: I live in a shared flat, and my flatmate who has been looking after the bills is moving out. I therefore need to start a new energy contract in my name.
We are currently with Octopus, and used to pay £110 a month for gas and electricity for three people, which was put up two months ago to £216.
Does anyone know, can I expect that this £216 is similar to what we will be billed when I start a new contract, and is this the sort of amount that's currently expected to cover the winter months if paid monthly, or is this higher amount expected to rise by x1.5 or x2 again???
(I have read the entire thread, but am struggling to translate to what it might mean for my situation).
Click to expand...

I'm assuming that when the price went up you didn't sign a new contract which fixes the prices for the next year or two.

I'm afraid that the new higher price you are paying is expected to rise again in October, and then again in January :(
 
JimW said:
In what sense is it a price cap if it just keeps getting adjusted upwards as circumstances change? More some sort of aspirational number.
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ah well now my good fellow, as soon as the wholesale prices fall we'll definitely be reducing the price cap to force suppliers to charge a lower price.
/tory
 
zora said:
Question: I live in a shared flat, and my flatmate who has been looking after the bills is moving out. I therefore need to start a new energy contract in my name.
We are currently with Octopus, and used to pay £110 a month for gas and electricity for three people, which was put up two months ago to £216.
Does anyone know, can I expect that this £216 is similar to what we will be billed when I start a new contract, and is this the sort of amount that's currently expected to cover the winter months if paid monthly, or is this higher amount expected to rise by x1.5 or x2 again???
(I have read the entire thread, but am struggling to translate to what it might mean for my situation).
Click to expand...
I hate to be the bearer of bad news but based on predictions in the news that £216 could around the £350+ mark come October
 
BigTom said:
ah well now my good fellow, as soon as the wholesale prices fall we'll definitely be reducing the price cap to force suppliers to charge a lower price.
/tory
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That was their argument for changing it to 3 months it will fall faster when prices fall but no-one is expecting prices to fall soon
 
not a trot said:
​
​

I received the same email.​


​

Hello xxxxxxxx​


We know times are really hard at the moment, with rises in living costs putting pressure on your budget. And some of our customers may find it difficult managing their energy bills.
As you may have seen in the news, your energy prices are likely to rise in line with the new price cap, which we are expecting to be formally announced at the end of this month.
We understand this is difficult news. Once Ofgem release more information we’ll be in touch to let you know exactly what this means for you.
We’re contacting you to let you know that, regardless of your circumstances, more support is on the way. The government has recently announced the new Energy Bills Support Scheme (EBSS), which will give households a £400 discount off their energy bills from October. You can find out more about the scheme and how it will work on our website.​
​

The Energy Bills Support Scheme (EBSS)​


The EBSS is part of the government’s wider support to help households with the cost of living. It’s open to all domestic households who use electricity.​
​

How much will I get?​


Every household will get £400, paid over six months starting from October 2022. So you’ll get the following each month:​

​
Month​
Amount​
October 2022​
£66​
November 2022​
£66​
December 2022​
£67​
January 2023​
£67​
February 2023​
£67​
March 2023​
£67​

If your electricity bills are less than £66/£67 a month, you’ll still get the same amount. You can carry on using the discount to pay for your electricity after March 2023 (until all the £400 is used up).​
​

How do I apply?​


You don’t need to do anything – every household will automatically get the discount. You don’t need to repay the discount and it won’t affect your credit rating in any way.​
​

How do I receive the discount?​


For Direct Debit customers, we’ll send the discount straight to your bank each month – like a refund – once your Direct Debit has gone through.
For example:
If your Direct Debit is £100 a month, you’d pay that as normal. Then a few days later, £67 will be paid in to your bank account. If your Direct Debit is less than £67 a month, say £50 for example, £50 will be refunded to your bank account and the remaining £17 will be applied as credit to your energy account.​

​
​

​

Beware of scams​

The discount will be applied automatically – you won’t be asked for your bank details at any time. Please beware of potential scams and report any unusual activity to report@phishing.gov.uk. You can find other examples of recent scams on our website.


​

Find out more​


For further information about the government discount, see our website.​
​

Need more help with your energy bills?​

Thanks,​

The British Gas Energy Team​

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That's the one it's interesting that they're actually taking steps to prevent people from diverting any of that money into spending elsewhere
 
Thanks, BigTom and MickiQ. That is somewhat worse than I thought/hoped. This is were the rebate comes in? E.g. if monthly bill rises to £350, there will be a refund of £60, making it in effect £290?
 
CH1 said:
I don't know about that - what I was referring to was "if they are fully hedged" which I took to mean if they have all their anticipated gas and electricity usage covered in advance at a viable price. Is that not what hedging is?

I believe this article covers the issue Fuel hedging - Wikipedia
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Yes - that’s what hedging is - for every customer on a fixed price they have either a fixed contract to buy, or some form of futures trade which offsets the price rise.

the above article is avout about renewables producers who are receiving subsidies having to pay excess revenue back when they are paid over certain amounts.

Interestingly at the July 2022 recent renewables auctions - the average price for a range of solar and on/off shore wind was about 4p per kw/hr.
 
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alex_ said:
Yes - that’s what hedging is - for every customer on a fixed price they have either a fixed contract to buy, or some form of futures trade which offsets the price rise.
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This is also the fucked up thing about bulb and the other suppliers which went bust, they were able amass millions of customers on a business model which was guaranteed to fail if gas prices suddenly rose and stayed high but with guaranteed profits if gas prices fell as well as the opportunity to make trading profits.

Another example of a Tory “market” which socialises the losses and privatises the profits.

It would have been trivial for regulators to either require hedging equivalent to customer commitments or require capital guarantees - like banks have to.
 
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MickiQ said:
Are they telling you they will only replace it with a smart meter?
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Not sure - I chucked it in the bin. I have had letters in the past saying they want to change my meter - and the new one WON'T be a Smart Meter. I have to say some of my neighbours have meters outside exposed to the elements and look very unsafe. Perils of me being in a non-converted non-multiocced house I suppose.

I had thought of the line "You've only got a few years until I die, then you'll need three more meters when the place has been re-developed." But that might only encourage them. FOUR jobs instead of one!
 
CH1 said:
Not sure - I chucked it in the bin. I have had letters in the past saying they want to change my meter - and the new one WON'T be a Smart Meter. I have to say some of my neighbours have meters outside exposed to the elements and look very unsafe. Perils of me being in a non-converted non-multiocced house I suppose.

I had thought of the line "You've only got a few years until I die, then you'll need three more meters when the place has been re-developed." But that might only encourage them. FOUR jobs instead of one!
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How long have they been harassing you? I would have thought that if the meter (especially gas) is unsafe there would come a point at which they would just force a new meter on you.
 
MickiQ said:
How long have they been harassing you? I would have thought that if the meter (especially gas) is unsafe there would come a point at which they would just force a new meter on you.
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It all started with Ovo taking over from Economy Energy some years back.
You will observe up thread that Ovo will do anything to max out your bill!
I am now with Shell - but the infection seems to have spread. These people are like mediaeval barbers.
High blood pressure sir? Let me apply my cut throat razor.

Actually I would willingly pay them to install a new cooker - but that isn't what they are interested in.
Although they may be - if they come to check the meter!
 
CH1 said:
It all started with Ovo taking over from Economy Energy some years back.
You will observe up thread that Ovo will do anything to max out your bill!
I am now with Shell - but the infection seems to have spread. These people are like mediaeval barbers.
High blood pressure sir? Let me apply my cut throat razor.

Actually I would willingly pay them to install a new cooker - but that isn't what they are interested in.
Although they may be - if they come to check the meter!
Click to expand...

Ovo pay interest on your balance, upto 3% iirc - which for at least the last 10 years is way better then you get on a current account
 
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