Energy Price Rises

[duncanp]

Has anyone else been subject to rather steep energy price rises this year?

My electricity supplier (Bulb Energy) slapped me with a 10% rise in April, and yesterday I received notice of an additional 8% increase in June.

Their excuse is that the wholesale price of electricity has gone up, and they assure me that when the wholesale price comes down, they will reduce their rates. (..More chance of Devi Sridhar advocating a complete lifting of all lockdown measures.. )

I tried looking for a cheaper deal on USwitch, but it was honest enough to tell me that there was nothing cheaper available, which shows that all the energy suppliers are doing the same thing.

So much for the deregulated energy market providing for a bit of competition.

Just wanted to find out what other people's experience is.

 

[DelayRepay]

I am with the same supplier, and had exactly the same notice about price rises.

And like you I can't really find any better options. Wish I'd gone onto a fixed tariff last Autumn.

My bills have gone through the roof due to having worked from home all winter. And I am still having to put the heating on occasionally even though it's nearly June!

 

[baz962]

Same as us , bulb. Gone up about three times recently and they told us they are still the cheapest.

 

[westv]

I usually choose a fixed rate when looking for the best deals.

 

[duncanp]

I usually choose a fixed rate when looking for the best deals.

Trouble is for me that all the fixed rate deals include a higher tarriff than the one I will be on after my second increase in June.

It is bad enough having two compulsory price increases without selecting a voluntary one as well.

Not only that, but a lot of the cheapest tarriffs say "..Smart Meter installation mandatory..."

I am not having a smart meter in my flat until they are compulsory, and I won't be blackmailed by an energy company into getting one installed.

 

[3rd rail land]

I go for a fixed rate deal to avoid nasty surprises. I don't have a smart meter but wouldn't be opposed to getting one.

I live in a flat and the meters are in a communal part of the building so I am not sure if I am allowed to have one installed, at least not without consulting the freeholder.

I do try and have the heating on as little as possible to keep costs down and just wear a sweatshirt/jumper/hoodie instead.

 

[GusB]

My fixed tariff with E.on ended last week. I'd signed up with lookaftermybills.com but they've so far been unable to come up with anything cheaper, and I haven't really had much luck with other comparison sites either. I had hoped that with us coming in to spring that I'd have been able to ditch the heating by now, but this is probably the coldest May I've experienced for a while. I don't really want to get into a fixed deal now and discover that prices come down in a month or two. I did consider signing up through a cashback site, but I'm electricity only and the best offers seem to be for those who have dual-fuel.

 

[jon0844]

Once it gets warm and people turn off their gas heating, I bet we'll see a nominal token cut to gas tariffs - just in time for a more significant increase in the autumn.

As for electricity; well I suppose energy companies are realising that gas boilers are on their way out and EV charging is on the horizon, so I can't see it ever getting cheaper.

 

[duncanp]

As for electricity; well I suppose energy companies are realising that gas boilers are on their way out and EV charging is on the horizon, so I can't see it ever getting cheaper.

Yes - the demand for electricity is only going to increase over the long term, and much of that demand will be inelastic. (ie it will be for essential purposes, such as heating or charging a car, that are difficult to cut down on)

If the demand for electricity rises at a faster rate than the capacity of the National Grid to supply it, then wholesale prices will rise, which will be passed on to the consumer.

There is likely to be an increase in the number of people in fuel poverty over the next few years.

 

[D365]

Not only that, but a lot of the cheapest tarriffs say "..Smart Meter installation mandatory..."

these days, that’s the only way to get access to most of the cheapest tariffs.

I go for a fixed rate deal to avoid nasty surprises. I don't have a smart meter but wouldn't be opposed to getting one.

I live in a flat and the meters are in a communal part of the building so I am not sure if I am allowed to have one installed, at least not without consulting the freeholder.

Generally speaking they’re fine with it.

 

[swt_passenger]

I go for a fixed rate deal to avoid nasty surprises. I don't have a smart meter but wouldn't be opposed to getting one.

I live in a flat and the meters are in a communal part of the building so I am not sure if I am allowed to have one installed, at least not without consulting the freeholder.

I do try and have the heating on as little as possible to keep costs down and just wear a sweatshirt/jumper/hoodie instead.

If it’s ‘your‘ property’s meter, (rather than the landlord reselling electricity), then I expect the meter belongs to the local distribution network, and I believe it’s no concern of the freeholder, the network are entitled to change it for their own ongoing maintenance purposes anyway. Smart meters are generally designed for ease of fitting to the existing meter tails.

 

[CrispyUK]

I’ve been paying about £40/month for gas & electric on the 1 year fix I took this time last year. Now that’s up and the cheapest fix I can find is going to be around £55/month.

 

[Kite159]

The worst in my eyes are those suppliers who do referrals, the £50 for you and £50 for the person you get signed up. That £100 has to come from somewhere, normally higher bills for those who can't sign anybody up.

 

[DelayRepay]

Not only that, but a lot of the cheapest tarriffs say "..Smart Meter installation mandatory..."

I am not having a smart meter in my flat until they are compulsory, and I won't be blackmailed by an energy company into getting one installed.

I had a smart meter in my old flat and it was fine. Easier than messing about submitting meter readings and I did find it useful to keep an eye on consumption. I don't think it particularly changed my usage though but I have always been someone who'll put three jumpers on before turning the heating up! I have heard bad things from other people though - one of my friends has one but still has to submit manual meter readings as it won't connect, for unknown reasons.

I don't have one here. The supplier made an appointment to fit one then cancelled it when the first lockdown started because the engineers were only going into peoples' houses for essential work. Fair enough. When lockdown started to ease, they re-booked it then cancelled it again without the option to re-book. Several months later they rang to ask if I wanted a smart meter, another appointment was booked which was cancelled by them at the last minute. They emailed again to ask if I wanted a smart meter but I told them no. As I am working from home I try to arrange the appointments for times when it won't cause too much inconvenience to be without power and am sick of having them cancelled.

I wouldn't be averse to having one fitted provided they commit to a specific day and promise not to mess me around any more!

 

[chorleyjeff]

Has anyone else been subject to rather steep energy price rises this year?

My electricity supplier (Bulb Energy) slapped me with a 10% rise in April, and yesterday I received notice of an additional 8% increase in June.

Their excuse is that the wholesale price of electricity has gone up, and they assure me that when the wholesale price comes down, they will reduce their rates. (..More chance of Devi Sridhar advocating a complete lifting of all lockdown measures.. )

I tried looking for a cheaper deal on USwitch, but it was honest enough to tell me that there was nothing cheaper available, which shows that all the energy suppliers are doing the same thing.

So much for the deregulated energy market providing for a bit of competition.

Just wanted to find out what other people's experience is.

Somebody has to pay the green energy subsidies. One way or another it will be all of us.