Ecotricity prices higher still.

Octopus Energy don’t want any new customers.

Right now E.ON for 12 months is looking like a good choice.

Posted by: @editor

I’ve just read a few articles about electricity wholesale prices and it’s looking like there’ll be another 20-30% increase in October. What’s the strategy? Who’s locking in a tariff for the next 12 months?

I’m getting the following from E.ON. Crazy high standing charge.

Tariff name	Next Online v10
Tariff type	12-month fixed-term
Payment method	Direct Debit
Unit rate	27.78p per kWh
Standing charge	39.68p per day

I can easily imagine the possibility of a higher than 30% increase in October with what is going on in Ukraine, if that encourages further unrelated global conflict, the increasing demand for gas globally, and the possibility of an extended period of low wind.

@editor we're locked until this October on octopus go. So we'll switch just before into whatever is best. I assume we'll get lower pricing in the summer for electricity as the grid will be under the least stress

@editor I'm with EDF on their deemed standard variable tariff from 1st April (they took over our Green Energy account back in September).

Have just switched to their 2 year fixed rate (until Feb 24) on the basis that this will protect me from a further increase in the OFGEM cap in August.

Compared with 12 months ago can't believe I'm locking in at 33.39p day, 20.2p night + 45.0p daily standing charge. But it's only marginally different from the standard variable tariff. £100 fee to break early, if I'm wrong and prices drop dramatically. But this is small in the context of 11,500kWh annual usage costing £300 per month.

Mike

@mike-patrick, it’s a crazy situation. We’re probably going to lock in with E.ON this week. 

Quite honestly, I was expecting a far bigger reaction from the UK public and heat pump owners over the rising electricity and energy tariffs and most people seem to have simply taken it on the chin. I just can’t see how this is financially sustainable with the April increase followed by another in October. With the dramas unfolding in the Ukraine, there may be further complications with gas supply that’ll potentially impact tariffs across the board even more significantly. 

Posted by: @editor

Quite honestly, I was expecting a far bigger reaction from the UK public and heat pump owners over the rising electricity and energy tariffs and most people seem to have simply taken it on the chin. I just can’t see how this is financially sustainable with the April increase followed by another in October. With the dramas unfolding in the Ukraine, there may be further complications with gas supply that’ll potentially impact tariffs across the board even more significantly. 

Other than reduce ones own energy consumption, what do you suggest people should do?

Posted by: @derek-m

Posted by: @editor

Quite honestly, I was expecting a far bigger reaction from the UK public and heat pump owners over the rising electricity and energy tariffs and most people seem to have simply taken it on the chin. I just can’t see how this is financially sustainable with the April increase followed by another in October. With the dramas unfolding in the Ukraine, there may be further complications with gas supply that’ll potentially impact tariffs across the board even more significantly. 

Other than reduce ones own energy consumption, what do you suggest people should do?

Actually, @Derek-m, I'm rather surprised too. It's not so much a matter of what people should do as much as what I suspected they might or may do. Without arguing rights or wrongs, I imagined there are enough people pushed close enough to the wire that we might have seen demonstrations, petitions and all sorts of other rather public protests to either attempt to shame utility companies or pressure politicians into some sort of action. We've certainly seen such in the past on the heels of petrol/diesel price hikes, but nothing of note so far related to gas/oil/electricity price rises.

I suppose it's just a matter of trying to predict how people will react when pushed into a corner.

@derek-m, I guess I'm frustrated with the inaction of government, and I don't know what measures consumers can take. Dale Vince has been going on about the oil windfall tax being reallocated, so there are things than can be done.

We've been inundated with messages from people (via My Home Farm) that switched to an ASHP in the past 12 months and they are haemorrhaging money, and many have simply off switched their heat pumps off and they're just fortunate that this has been a mild winter. That's not a solution. Several households have even already scheduled work to be done to reinstate boilers because they remain cheaper to run, even though their heat pumps are less than 6 months old. That's plain crazy. 

Carbon zero aspirations rapidly go out the window with the prospect of zero bank balance. 

Posted by: @editor

@mike-patrick, it’s a crazy situation. We’re probably going to lock in with E.ON this week. 

What are you being offered as everything I can see is just silly amounts so better staying on the capped variable tariff.

@george tariffs vary by region and have you included the forecast 20% increase in October 2022 when making your comparison? And I think that was forecast before the Russian situation got worse.

@George, here's our offer, which I think we'll lock in for one year. Crazy high standing rate, but cheaper tariff than any other I can find at the moment.