Where is the kWh price heading in 2022?

[ProDave]

8 minutes ago, JohnMo said:

Just read this on Which?

 

If you’re on a fixed tariff that is at a higher rate caused by recent energy prices, the government has said that your unit prices will be reduced by 17p/kWh for electricity and 4.2p/kWh for gas. Energy suppliers will adjust fixed tariffs automatically, so you do not need to take any action to get the benefits of this scheme

There is conflicting versions of this doing the rounds.  The alternative and more likely one being if you are on a fix that ends up above the new October capped price, then your fix will be reduced to match the capped price.

 

Best wait for the full details to be published.

[JohnMo]

Definitely think sitting on your hands is the way to go

[Ferdinand]

I've just had an email from Octopussy saying that my payments will be reduced by £67.

 

Current monthly payments are £65, and the credit balance continues to tick up.

 

Plus an FIT payment is due.

 

So I am now officially in profit !

 

Until it reverses...

[ProDave]

They better not reduce mine as I already reduced it in anticipation.  If they do reduce it, I will put it straight back up again.

[Temp]

29 minutes ago, Ferdinand said:

I've just had an email from Octopussy saying that my payments will be reduced by £67.

So have I..

 

Quote

 

• The Government have announced a 2 year Energy Price Guarantee, capping the increase in prices to £2,500 for a typical home.
• The £400 energy bill support scheme will also go ahead with monthly payments from October to March
• This combination of a reduced cap and winter credits means while some unit rates will rise around 30%, typical annual costs will increase less than 10%
• These discounts will be applied automatically: you don't need to do anything
• Your new unit rates will match the Energy Price Guarantee, but your Octopus standing charges will be 4% lower – so you will be saving compared to Energy Price Guarantee rates from October 1
• We're not adjusting monthly payments yet for the new prices. We'll review your payments in the coming weeks and send you a recommendation should they need adjusting
• However from October to March your payments will be reduced by £67, as part of the Energy Bill Support Scheme

 

[Ferdinand]

Hmmm.

 

I see the Beeboids reporting that business energy bills for the next 6 months are expected to be capped at half of what they would have been.

 

https://www.bbc.co.uk/news/business-62969427

[Kelvin]

It’s a good thing in the short term but there needs to be a ground up review of the whole energy sector and an investment strategy to uplift new housing standards, improve existing housing stock and secure energy security. If all that happens is we spend billions hoping that the war ends and wholesale prices stabilise and then reduce we will have wasted the opportunity. 

[SuperJohnG]

I noticed last night that it's currently 

 

49.15p/kWh for electricity (with octopus 2021 v1 variable)

 

Plus it's shows a 17p/kWh reduction (although I think that it's just incidental the kWh price) which equates to 66 quid reduction after VAT. 

 

Surely that kWh price is crazy? Why is nobody talking about that?

Edited November 22, 2022 by SuperJohnG

[billt]

So you're actually paying 32.15p/kWh after the government energy price guarantee, which is pretty much in line with what everyone else is paying.

 

Our daytime rate is 64.71p/kWh, reduced to 41.63p/kWh after the price guarantee.

 

I rather thought that a lot of people had been talking about it for quite some time.

 

The standing charges are unjustifiably high as well.

[SuperJohnG]

We have been talking about the rise, but it quite a jump to go to 49p.

 

Albeit the government has put in for the next few months that will come to an end and we will be paying that much. 

[markocosic]

That's not high.

 

Denmark etc have had 50 cent resi electricity (energy taxes) for years.

 

It's worth every penny of 50p.

[Roger440]

On 08/03/2022 at 14:18, Bitpipe said:

 

Surely the best way to reduce dependence on Russian (or other unfavourable regimes) oil and gas is to reduce the overall energy requirement, as well as invest in zero carbon alternatives?

 

The majority of UK houses are still hopelessly energy inefficient. I realise that I'm lucky to be in a self built passive house and as such have relatively low energy requirements for heating etc but we must improve the fabric of the nation.

 

I expect that one upside of the painful increase in utility prices will be more careful usage and thought on how to reduce domestic bills permanently.

 

 

 

Edited November 24, 2022 by Roger440
Replied to wrong post!! No idea how to delete.

[SteamyTea]

7 minutes ago, Roger440 said:

Replied to wrong post!! No idea how to delete.

Select the whole text and replace with a period .

 

Unless you are on a phone and then it seems to be impossible.

[jack]

44 minutes ago, Roger440 said:

Replied to wrong post!! No idea how to delete.

 

Report the post, then in the comments section of the report say that you'd like it deleted/edited. One of the mods will take care of it.

[SteamyTea]

Just had a letter from EDF about next years prices.

So from Jan 1^st.

 

Day rate is going up from 46.25 to 54.16p/kWh

Night rate is going down from 16.14 to 13.01 p/kWh

Rental is staying the same at 59.10/day.

 

They estimate I will spend £46.88 less next year, but if I want to change tariff, then I can save £262.46, which I am very dubious of as that is on an estimate yearly spend of £840.74.

 

May chase them up as they are claiming I have to have a smart meter, but I seem to remember that this is not actually true, they want me to have a smart meter, not I must have one to take advantage of better deals.

[Pocster]

16 minutes ago, SteamyTea said:

Just had a letter from EDF about next years prices.

So from Jan 1^st.

 

Day rate is going up from 46.25 to 54.16p/kWh

Night rate is going down from 16.14 to 13.01 p/kWh

Rental is staying the same at 59.10/day.

 

They estimate I will spend £46.88 less next year, but if I want to change tariff, then I can save £262.46, which I am very dubious of as that is on an estimate yearly spend of £840.74.

 

May chase them up as they are claiming I have to have a smart meter, but I seem to remember that this is not actually true, they want me to have a smart meter, not I must have one to take advantage of better deals.

Get pv . Get a battery . Stop moaning . Bleeding Cornish , all the same .

[SteamyTea]

1 minute ago, pocster said:

Stop moaning

What is there to moan about, with my usage pattern, I should be saving 20p.

[Pocster]

Just now, SteamyTea said:

What is there to moan about, with my usage pattern, I should be saving 20p.

Almost enough for an extra cream tea .

[SteamyTea]

3 minutes ago, pocster said:

Almost enough for an extra cream tea .

I make the cream on yours at home.

[Onoff]

9 minutes ago, pocster said:

Bleeding Cornish

 

Your doing?

[Pocster]

Just now, Onoff said:

 

Your doing?

Yeah . They ain’t very flexible . A bit of force , a few squawks of pain and they are done .

[Onoff]

2 hours ago, pocster said:

Yeah . They ain’t very flexible . A bit of force , a few squawks of pain and they are done .

 

Dry?

[Pocster]

16 minutes ago, Onoff said:

 

Dry?

Good god man ! . Always use fairy liquid .

[jayc89]

Given we're now seeing a, fairly substantial, drop in wholesale gas prices, why isn't this being reflected in household bills? I'm on OVO's variable rate tariff now and for the past 3 months I've been paying the same 9.75p/kwh of gas usage. Electricity unit price only changed once during the same period and in the wrong direction from 31.43 to 31.45p/kwh!

 

It's like fuel prices all over again...

[SteamyTea]

6 minutes ago, jayc89 said:

why isn't this being reflected in household bills

Because we have a price cap. It will be reducing in April I think.

 

Volatile pricing, which is what is being trialled at the moment is going to be horrendous for most people.