Ingram85 Posted August 17, 2022 Share Posted August 17, 2022 If the energy bills go to £550 then there will be protests and riots and worse. £1250 on just our mortgage and gas/leccy lol. That’s all of my missus’ wage gone then. Everything else we pay a month out of my wage then (rest of bills, council tax, food shopping, plus the rest etc…). With a 12 year old kid to pay for as well. Luckily we only have the one car. We can do it but it will be tough going. Both nhs workers. Bands 2 & 3. Feel sorry for those worse off than us with more kids. No idea how they will do it . Just hope the health care unions get us both a decent percentage for our wage rise. I’d happily take the 7% the politicians get every year. Doubt it though. 3 Link to comment Share on other sites More sharing options...
foreveryoung Posted August 17, 2022 Share Posted August 17, 2022 6 minutes ago, Davkaus said: By providers do you mean UK energy suppliers? Which ones are making record profits? Centrica who are British gas, for a start. Maybe not record, but increased on last year. Link to comment Share on other sites More sharing options...
Davkaus Posted August 17, 2022 Share Posted August 17, 2022 2 minutes ago, foreveryoung said: Centrica who are British gas, for a start. Maybe not record, but increased on last year. That's driven by their generation capability not UK retail, they made a fairly modest profit in that area, I posted the details a few pages ago On 29/07/2022 at 10:48, Davkaus said: Some further info. "Fairly grim" might be a bit of an overstatement, but the numbers don't stack up for the suppliers being the problem. https://www.independent.co.uk/news/business/british-gas-profits-centrica-energy-prices-b2133672.html So Centrica did make over £1.3bn profit in the last 6 months, but British Gas had a profit of £98m, which amounts to a profit of about £11 per household over those 6 months. They're doing alright and even if they operated independently as a supplier without the Centrica backing, they'd be ok, but if you eliminated their supplier side profit, it's not going to make a dent in your bill. 3 Link to comment Share on other sites More sharing options...
Demitri_C Posted August 18, 2022 Share Posted August 18, 2022 Just got a email from BG advising me as im currently on variable to potentially switch to fixed to save money. Whats eveyone doing? Switching to fixed or staying on variable? Link to comment Share on other sites More sharing options...
Genie Posted August 18, 2022 Author Share Posted August 18, 2022 4 minutes ago, Demitri_C said: Just got a email from BG advising me as im currently on variable to potentially switch to fixed to save money. Whats eveyone doing? Switching to fixed or staying on variable? What was the price of the fixed deal they offered? Link to comment Share on other sites More sharing options...
Mozzavfc Posted August 18, 2022 Share Posted August 18, 2022 7 minutes ago, Demitri_C said: Just got a email from BG advising me as im currently on variable to potentially switch to fixed to save money. Whats eveyone doing? Switching to fixed or staying on variable? Fixed for a year and crossed my fingers it's better this time next year 1 Link to comment Share on other sites More sharing options...
turvontour Posted August 18, 2022 Share Posted August 18, 2022 8 minutes ago, Demitri_C said: Just got a email from BG advising me as im currently on variable to potentially switch to fixed to save money. Whats eveyone doing? Switching to fixed or staying on variable? Fix 1 Link to comment Share on other sites More sharing options...
Demitri_C Posted August 19, 2022 Share Posted August 19, 2022 8 hours ago, Genie said: What was the price of the fixed deal they offered? This is what they sent me Link to comment Share on other sites More sharing options...
Genie Posted August 19, 2022 Author Share Posted August 19, 2022 (edited) 26 minutes ago, Demitri_C said: This is what they sent me That seems reasonable tbh, about £185 a month for a level of peace of mind. Predictions are the cap price is going to more than double from it’s currently position over the winter then there’s April-July. Edited August 19, 2022 by Genie 1 Link to comment Share on other sites More sharing options...
Demitri_C Posted August 19, 2022 Share Posted August 19, 2022 51 minutes ago, Genie said: That seems reasonable tbh, about £185 a month for a level of peace of mind. Predictions are the cap price is going to more than double from it’s currently position over the winter then there’s April-July. Thanks was thinking to fix it so just confirms. Thanks for your advice guys Link to comment Share on other sites More sharing options...
Brumstopdogs Posted August 19, 2022 Share Posted August 19, 2022 This may be of some help (updated yesterday) to some if they haven't read it or at least, perhaps, provide additional information for the decision. https://www.moneysavingexpert.com/utilities/-are-there-any-cheap--fixed-energy-deals-currently-worth-it--/ Quote Yet there are opportunities to take action to help, not because there are great deals out there, but because the latest analysis is the future looks even WORSE, with the prediction for the next price cap continuing to rise, so it's now far higher than even a couple of months ago. This means some sickeningly costly fixes look like they may now be winners. Let me talk you through it. Please note Brumstopdogs is not in anyway affiliated with moneysavirngexpert.com. Any decisions you make are nothing to do with me! Link to comment Share on other sites More sharing options...
Lichfield Dean Posted August 19, 2022 VT Supporter Share Posted August 19, 2022 Problem is it's all guesswork. We don't know what Liz Truss will do (or any other government that gets voted in over the next few months). I feel like they have to do something pretty dramatic to stay in power, and then maybe the fixed tariffs won't look so good? Nobody really knows what is best, especially as the energy providers are seemingly increasing the amount to buy out of the fixed rates. Best of luck everyone with your choices though. Link to comment Share on other sites More sharing options...
Genie Posted August 19, 2022 Author Share Posted August 19, 2022 (edited) 20 minutes ago, Lichfield Dean said: Problem is it's all guesswork. We don't know what Liz Truss will do (or any other government that gets voted in over the next few months). I feel like they have to do something pretty dramatic to stay in power, and then maybe the fixed tariffs won't look so good? Nobody really knows what is best, especially as the energy providers are seemingly increasing the amount to buy out of the fixed rates. Best of luck everyone with your choices though. I noticed this too. It used to be around £25/£30 per fuel to end the contract early, now it’s £100. They are absolutely taking the piss on a level never seen before. They are holding the entire world to ransom. Edited August 19, 2022 by Genie Link to comment Share on other sites More sharing options...
turvontour Posted August 20, 2022 Share Posted August 20, 2022 They're reporting £6k a year from april now, but its actually £7-8k. The traded market is now effectively broken. Link to comment Share on other sites More sharing options...
ender4 Posted August 20, 2022 Share Posted August 20, 2022 4 hours ago, turvontour said: They're reporting £6k a year from april now, but its actually £7-8k. What does this mean? Link to comment Share on other sites More sharing options...
Xela Posted August 20, 2022 Share Posted August 20, 2022 I've never actually fixed my energy costs in all the years i've had my own place. Never needed to really? I guess I'm lucky in that my place is very efficient. Link to comment Share on other sites More sharing options...
turvontour Posted August 20, 2022 Share Posted August 20, 2022 30 minutes ago, ender4 said: What does this mean? They release these figures each time based on the wholesale market about a fortnight ago. This week just gone, the market went up a further 20%. Therefore in a week or so they will say £7k. Link to comment Share on other sites More sharing options...
ender4 Posted August 20, 2022 Share Posted August 20, 2022 1 minute ago, turvontour said: They release these figures each time based on the wholesale market about a fortnight ago. This week just gone, the market went up a further 20%. Therefore in a week or so they will say £7k. Ok but what is £7k? The price? The annual cost? Link to comment Share on other sites More sharing options...
turvontour Posted August 20, 2022 Share Posted August 20, 2022 Just now, ender4 said: Ok but what is £7k? The price? The annual cost? The annual cost ye Link to comment Share on other sites More sharing options...
Genie Posted August 20, 2022 Author Share Posted August 20, 2022 Who is calculating these numbers? Something is monumentally broken. Its gonna bankrupt the world. The only people with money will be the people pulling the oil and gas out of the ground. Link to comment Share on other sites More sharing options...
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