Shocking Gas and Electric costs

[newstewart]

Don’t know if I’ve missed something but we’re at end of our annual contract and for us to renew with them is an additional £100 per month. Not aware as why energy prices were drastically higher this year.
So if I stay with them another year it’s £211 per month or if I switch to variable it’s £125 per month.
Always thought that variable was the most expensive tariff to be on and to avoid. Looks like I’ll have to give it a shot
Checked with uswitch and showing much the same.

[kathrynmc]

I’m in the process of changing ours, we were paying £150 and they wanted to increase it to £182. I have switched to £114 a month, prices have gone up recently and I am aware that we might be charged more at some point but at this with this reduction I can save the extra in case we need it

[Lu Lu]

It's for 2 reasons.

Firstly the wholesale cost of energy has gone through the roof due to shortages etc.
Secondly, the government has made the energy companies put a price cap on so we're not actually covering the cost of the energy at all.

Plus, I recently discovered that those of us that pay our DD one time every month are subsidising people who can't pay and so we're holding the debt up on behalf of companies. Mine recently tried to increase my DD even though I was in massive credit and I think it's to cover that and the rising costs.

My supplier has just gone bust so I am waiting to see when I can switch but not looking forward to those projections! We have a hot tub and it costs a fortune already. Plus, just bought a plug in hybrid!

[JoJo88]

Originally Posted by Lu Lu

It's for 2 reasons.

Firstly the wholesale cost of energy has gone through the roof due to shortages etc.
Secondly, the government has made the energy companies put a price cap on so we're not actually covering the cost of the energy at all.

Plus, I recently discovered that those of us that pay our DD one time every month are subsidising people who can't pay and so we're holding the debt up on behalf of companies. Mine recently tried to increase my DD even though I was in massive credit and I think it's to cover that and the rising costs.

My supplier has just gone bust so I am waiting to see when I can switch but not looking forward to those projections! We have a hot tub and it costs a fortune already. Plus, just bought a plug in hybrid!

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Mine too - Utility Point?

[Sew109]

Originally Posted by JoJo88

Mine too - Utility Point?

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My partner switched her business ones via an independent broker and saved 25%

[Lu Lu]

Originally Posted by JoJo88

Mine too - Utility Point?

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Yep.

[arielrocks]

Originally Posted by JoJo88

Mine too - Utility Point?

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We were with them. Gone just with approx £400 credit on our account ready for the winter months.

We use ‘we look after your bills’ and they’ve said our credit is protected but I have a bad feeling about it all.

[KarenG]

Originally Posted by arielrocks

We were with them. Gone just with approx £400 credit on our account ready for the winter months.

We use ‘we look after your bills’ and they’ve said our credit is protected but I have a bad feeling about it all.

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I promise, faithfully, your money is safe - having worked in and around this situation since the market opened many many years ago (1997-8)

Take a meter reading for both fuels in case it’s needed (which if you’ve had a long history of estimates it will help).

Your cash is safe.

[arielrocks]

Originally Posted by KarenG

I promise, faithfully, your money is safe - having worked in and around this situation since the market opened many many years ago (1997-8)

Take a meter reading for both fuels in case it’s needed (which if you’ve had a long history of estimates it will help).

Your cash is safe.

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That’s good to hear thank you. I tried to access my account to get copies of my statements in case I needed them but their whole website just got pulled offline as soon as they made the announcement

[JoJo88]

Originally Posted by KarenG

I promise, faithfully, your money is safe - having worked in and around this situation since the market opened many many years ago (1997-8)

Take a meter reading for both fuels in case it’s needed (which if you’ve had a long history of estimates it will help).

Your cash is safe.

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That’s a relief, we’re £1k in credit