Energy Bills Rise Again

[10ClarionSt]

I just feel that the increases are merely to help these companies to maintain their insulting, obscene profits and not to help with increased costs. I can't understand, don't understand, where Ofgem are. I can only assume that the people at Ofgem are shareholders in the energy companies. The govt is also condoning these prices rises. Saying that they will help people with their bills, is an endorsement of the rises. The govt should be preventing them, not offering a sop, because that's all it is. My only source of income is a state pension and a small private pension. That's it. If energy costs reach predicted levels, then half of my income will be going on energy bills. But it's ok folks because the energy companies, Ofgem and the govt know that old farts like me and thee won't be around much longer so why should they give a fig about us? But hey, if you think the rises are ok, then enjoy the fruits of your shares in the energy companies. And if you DO think the rises are ok, then you cannot be affected by them, or you can easily afford them. Got pots of money. Other than that, everything's fine thanks. :o)

[ladybirder]

If my link opens for you, it has an energy calculator which if you put in your current monthly payment will give you the price you will be paying as the rises take place.
https://www.which.co.uk/news/article/energy-price-cap-rises-to-3549-how-will-it-affect-your-bills-aZkHR2p2t2P7

[davebro]

^^^^ I have my doubts about this calculator. My current £88 pm rising to nearly £300 seems a bit far fetched.

[chelle7272]

With annual bills estimated to rise to £3500 a year, £300 per month looks right.

[naomi24]

Don't be surprised if it's about right, dave. Our DD has gone up a huge amount.

[ladybirder]

It is from 'Which' magazine which is pretty reliable.

I'm just rolling with BG at the moment but I will look for a cheap Standing Charge as you can't make savings on that.

[Redhelen72]

August 1st my electric bill was £30pm
September 1st will see it rise to £100pm
Goodness knows what it will rise to now and I still have oil to pay for.

[archibaldy]

I'm not sure that calculator is right in all cases.

I have my own with my own usage figures in it and using the new capped figures for unit and standing charge my monthly cost (yearly total divided by 12) will go up from £179 to £246 but the website shows £331.

[Bobbisox1]

Don’t suppose I’ve a cat in hells chance of getting this back then :0( it’ll be eaten up in two months

https://ibb.co/fp49S4b

[davebro]

//With annual bills estimated to rise to £3500 a year, £300 per month looks right.//

That's for the average household (from October) - I live alone in a smallish flat.

[Maydup]

Is the actual capped rate announced anywhere? All we see are the average household indicators and the percentage increases, but no factual statistics.

[Maydup]

Found it. The cap varies from region to region but the average cap is here.

Gas cap was 7p per unit and that will double
Electricity cap was 28p per unit and will go up to 51p

https://www.moneysavingexpert.com/utilities/what-are-the-price-cap-unit-rates-/#tool

[LadyCG]

We were paying £55 a month for G&E about a year ago. We are currently using about £200 a month but overpaying each month to build up credit. We're currently about £350 in credit but I think we'll have to start building it up even more.

[nailit]

I'm going to start eating carboard and bathing in the local lake....

[nailit]

Actually, going to prison again I'snt looking like so bad an option...

[10ClarionSt]

Thanks for all the replies folks. When the figure of 80% was announced yesterday, I don't mind telling you I felt like crying. And there's more to come, we're being told. But it isn't just energy that will increase is it? There will be the knock-on effect to businesses etc., who will pass on these increases to me and thee, the consumer, so other prices and costs will go up too.

Just one reply to one of those knowledgeable responses, and it's to Andy Hughes. I still consider the profits to be insulting and obscene only because the companies are saying they need to increase their prices because they're losing money. Shortly after this, they announce record profits. And all the justification in the responses doesn't wash with me. No company should be saying there is a need for greatly increased prices, then shortly after, announce record profits. I don't understand business, for sure, but I do understand that I'm being had by these people. And there's more to come. And I still feel that if anyone thinks the price rises are justified, and can live with them, then they are either a shareholder or will not be affected cos they're loaded. I am worried that I won't be able to afford my energy bills in future and that the callous companies will gladly shove me on to a pre-payment meter and just let me fade away.

[beso]

Prices are going up in most parts Australia too but not as much as UK. Recently gone up about eighteen percent.

I'm so pleased we put in a solar power system and battery. We export enough power to cover not just the little bit of electricity we buy from time to time but also enough to cover the grid connection cost, even though they don't pay us much per unit for the power we export.

Of course they have not increased how much they pay for our exported power even though what we buy (and of course how much they sell the power they get from us) has increased.

Still its nice to get a credit each time the power bill arrives.

[FatticusInch]

10ClarionSt,
Excellent post, succinctly summing up the general mood of the public I feel.
People are genuinely worried and nobody in government appears to care one iota.

[Zacs-Master]

10Cs, people have already explained to you the difference between producers, retailers and suppliers.

It is the energy producers who are recording record profits due, in part, to the Russia / Ukraine situation creating greater global demand, which raises prices (basic supply and demand business).