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Electricity price predictions

MattEngineer · 2021-12-03T18:39:26Z

When the energy cap comes up for renewal I think it will rise to 26.5p per unit, any thoughts of the collective?

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Electricity, Tariffs, Monitoring & Providers

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batalto

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12/09/2022 3:00 pm

@prjohn my tariff at peak times is higher - just under 40p/kwh, so 6p higher than the 34p cap. I've messaged Octopus to see what they say.

As noted in the government document: "If you’re on a fixed tariff at a higher rate caused by recent energy price rises, your unit prices will be reduced by 17p/kWh for electricity and 4.2p/kWh for gas."

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Jeff

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12/09/2022 3:08 pm

Posted by: @batalto

@prjohn my tariff at peak times is higher - just under 40p/kwh, so 6p higher than the 34p cap. I've messaged Octopus to see what they say.

As noted in the government document: "If you’re on a fixed tariff at a higher rate caused by recent energy price rises, your unit prices will be reduced by 17p/kWh for electricity and 4.2p/kWh for gas."

From Octopus

9am Monday 12 September

We've received most of the information such as unit rates which we need from government and our team have been working through this data over the weekend. We expect to start contacting customers with what this means for them, and their new rates from the 1 October, at the end of this week.

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batalto

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12/09/2022 3:09 pm

be interested to see what they come back with. Given its a government rebate they are claiming I would expect them to just carte blanche the whole thing. There is no benefit to them in nuance.

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Derek M

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12/09/2022 3:10 pm

Posted by: @batalto

@prjohn my tariff at peak times is higher - just under 40p/kwh, so 6p higher than the 34p cap. I've messaged Octopus to see what they say.

As noted in the government document: "If you’re on a fixed tariff at a higher rate caused by recent energy price rises, your unit prices will be reduced by 17p/kWh for electricity and 4.2p/kWh for gas."

Batalto,

Whilst getting the best deal was encouraged when we actually had an energy market that appeared to work, to help create competition and keep prices lower. We are now in an energy crisis where we should be encouraging everyone to save energy rather than squabble over who is getting the best deal.

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prjohn

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12/09/2022 3:43 pm

Batalto,

Whilst getting the best deal was encouraged when we actually had an energy market that appeared to work, to help create competition and keep prices lower. We are now in an energy crisis where we should be encouraging everyone to save energy rather than squabble over who is getting the best deal.

That worked whilst we were getting cheap gas, but the recent crisis has shown the weakness in the system. Whilst saving energy is easy to say you have to bear in mind that many have been saving energy for a long time so that resource is becoming increasingly difficult to utilise without financial help.

This post was modified 3 years ago by prjohn

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batalto

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12/09/2022 3:54 pm

@derek-m I am not suddenly going to be firing up the bitcoin rigs and hot tubs overnight. My power use will probably be the same as ever. However given the range of fixed tariffs out there I expect there will be winners and losers with this kind of thing. Very interested to see how it plays out given the very ambiguous wording and blanket discounts.