Notifications

Clear all

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?

Page 7 / 98 Prev Next

Electricity, Tariffs, Monitoring & Providers

Last Post by Batpred 1 week ago

1,165 Posts

50 Users

676 Reactions

196.1 K Views

RSS

prjohn

(@prjohn)

Reputable Member Member

Joined: 5 years ago

Posts: 125

02/02/2022 9:05 am

That rate could be worth a gamble.

ReplyQuote

Jeff

(@jeff)

Noble Member Member

Joined: 5 years ago

Posts: 558

02/02/2022 9:41 am

No exit fee is positive just in case there are lower rates over the spring and summer.

The downside is you would loose your current price cap rate between now and April at the very time you are using more electricity over winter.

Although there has been lots of talk about the energy cap going up by about 50% above the current price cap i haven't seen anything about how this splits between gas and electricity. It may be that gas goes up more than 50% and electricity less than 50% in the new cap?

ReplyQuote

Jeff

(@jeff)

Noble Member Member

Joined: 5 years ago

Posts: 558

02/02/2022 10:46 am

Ofgem are announcing the new energy price cap tomorrow (Thursday 3rd) at 11am

Earlier than expected.

👍

ReplyQuote

Mars

(@editor)

Illustrious Member Admin

Joined: 5 years ago

Posts: 3959

02/02/2022 10:48 am

Posted by: @jeff

Ofgem are announcing the new energy price cap tomorrow (Thursday 3rd) at 11am

Earlier than expected.

They can't wait to share the good news with all of us 🤣

Get a copy of The Ultimate Guide to Heat Pumps

Subscribe and follow our YouTube channel!

ReplyQuote

prjohn

(@prjohn)

Reputable Member Member

Joined: 5 years ago

Posts: 125

02/02/2022 11:24 am

@jeff Worth waiting until tomorrow, and being skeptical watch the price disappear.

ReplyQuote

Andris

(@andris)

Reputable Member Member

Joined: 5 years ago

Posts: 124

02/02/2022 5:02 pm

What I am afraid that this deal of 26p/kw will instantly disappear the moment we know what the new cap is. I think I should risk it. I used 1100kw total in January. So, if I use the same (unlikely), I will pay roughly 6p more/kw. About £130. If the price increases to more than 26.5p, I will save it in the next few months. If the price cap doesn't go up to 26.5p/kw, then just move back as there is no exit fee. Thoughts?

16kw Samsung TDM ASHP. 8.4kw PV, power optimizers 20×420watt panels 6kw SolarEdge inverter.

ReplyQuote

Andris

(@andris)

Reputable Member Member

Joined: 5 years ago

Posts: 124

03/02/2022 10:49 am

Just in case, I made the switch. I can always come back if the variable rate is looking better.

16kw Samsung TDM ASHP. 8.4kw PV, power optimizers 20×420watt panels 6kw SolarEdge inverter.

ReplyQuote

George

(@george)

Reputable Member Contributor

Joined: 5 years ago

Posts: 85

03/02/2022 11:13 am

Does anyone have a link to the new unit rates?

Mitsubishi Ecodan 14kw ASHP + 500l Cylinder

ReplyQuote

batalto

(@batalto)

Famed Member Member

Joined: 5 years ago

Posts: 1092

03/02/2022 11:14 am

@george

From 1 April the equivalent per unit level of the price cap to the nearest pence for a typical customer paying by direct debit will be 28p per kWh for electricity customers and 7p per kWh for gas customers

https://www.ofgem.gov.uk/publications/price-cap-increase-ps693-april

12kW Midea ASHP - 8.4kw solar - 29kWh batteries
262m2 house in Hampshire
Current weather compensation: 47@-2 and 31@17
My current performance can be found - HERE
Heat pump calculator spreadsheet - HERE

👍

ReplyQuote

George

(@george)

Reputable Member Contributor

Joined: 5 years ago

Posts: 85

03/02/2022 11:19 am

Cheers.

Glad I stayed on the Eon Next variable tariff as the cheapest fixed tariff being offered was 35p kWh... Sadly I think lots of people have potentially been scared into signing up to new fixed tariffs without knowing they would have been better off staying on the variable tariff at capped prices.

Mitsubishi Ecodan 14kw ASHP + 500l Cylinder

ReplyQuote

prjohn

(@prjohn)

Reputable Member Member

Joined: 5 years ago

Posts: 125

03/02/2022 11:20 am

There is a price increase of approx 6p for electricity and gas 2.5p. As gas is the major cause of this increase it feels as if electricity users are being penalised more.

ReplyQuote

prjohn

(@prjohn)

Reputable Member Member

Joined: 5 years ago

Posts: 125