Renewable Heating Hub Heat Pump Forums

Search with Wattson
Forums
Sustainable Sidetra...
Electricity, Tariff...
Electricity price p...
 
Notifications
Clear all

Joining the Renewable Heating Hub forums is completely free and only takes a minute. By registering you’ll be able to ask questions, join discussions, follow topics you’re interested in, bookmark useful threads and receive notifications when someone replies. Non-registered members also do not have access to our AI features. When choosing your username, please note that it cannot be changed later, so we recommend avoiding brand or product names. Before registering, please take a moment to read the Forum Rules & Terms of Use so we can keep the community helpful, respectful and informative for everyone. Thanks for joining!

Electricity price predictions

 
Page 7 / 139
Electricity, Tariffs, Monitoring, Electrics & Providers
1,665 Posts
60 Users
881 Reactions
393 K Views
RSS
 prjohn
(@prjohn)
Estimable Member Member
Joined: 5 years ago
Posts: 125
02/02/2022 10:05 am  

That rate could be worth a gamble.



   
ReplyQuote
Jeff
 Jeff
(@jeff)
Noble Member Member
Joined: 5 years ago
Posts: 644
02/02/2022 10:41 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
(@jeff)
Noble Member Member
Joined: 5 years ago
Posts: 644
02/02/2022 11:46 am  

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

Earlier than expected. 



   
👍
2
ReplyQuote
Mars
 Mars
(@editor)
Illustrious Member Admin
Joined: 6 years ago
Posts: 4809
02/02/2022 11:48 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 🤣 


New to heat pumps? Take the Heat Pump Fundamentals course and use INTRO50 at checkout for 50% off.
Rewritten and updated for 2027
📘 From Zero to Heat Pump Hero
🛠️ Bodge Buster


   
ReplyQuote
 prjohn
(@prjohn)
Estimable Member Member
Joined: 5 years ago
Posts: 125
02/02/2022 12:24 pm  

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



   
ReplyQuote
 Andris
(@andris)
Estimable Member Member
Joined: 5 years ago
Posts: 128
02/02/2022 6:02 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)
Estimable Member Member
Joined: 5 years ago
Posts: 128
03/02/2022 11:49 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)
Estimable Member Contributor
Joined: 5 years ago
Posts: 85
03/02/2022 12:13 pm  

Does anyone have a link to the new unit rates?


Mitsubishi Ecodan 14kw ASHP + 500l Cylinder


   
ReplyQuote
 batalto
(@batalto)
Noble Member Member
Joined: 5 years ago
Posts: 1092
03/02/2022 12:14 pm  

@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


   
👍
2
ReplyQuote
 George
(@george)
Estimable Member Contributor
Joined: 5 years ago
Posts: 85
03/02/2022 12:19 pm  

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)
Estimable Member Member
Joined: 5 years ago
Posts: 125
03/02/2022 12:20 pm  

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)
Estimable Member Member
Joined: 5 years ago
Posts: 125
03/02/2022 12:21 pm  

@george I just took E-on's current offer at 26p and 45p fixed for 12mths seems a reasonable deal.



   
ReplyQuote
Page 7 / 139
Forum Jump:
  Previous Topic
Next Topic  

Currently viewing this topic 19 guests.

Share:

SPONSORS

Join Us!

Installer Finder

Degrees of Separation

Latest Posts

SPONSORS

Members Online

Click to access the login or register cheese
Protected By
Shield Security PRO