Spot prices for UK gas have hit a two week low at 275 as i type. Fallen dramatically over the last few days. 

Well below the peak we saw in December. 

Is anyone here on the Tesla Energy Plan (via Octopus)?

So, British Gas has jumped on the heat pump bandwagon with their 14p/kWh tariff for British Gas installations. Sounds a lot like the OVO/Vaillant/Heat Geek deal.

Honestly, I don't know how I feel about these "deals". It seems like companies are more interested in making a quick buck than truly supporting sustainable home heating by luring customers in with the promise of a year's cheaper heating. After the first year, the discounted rate ends, and could homeowners then be locked into a long-term contract with much higher prices? Will they be allowed to switch?

In the fine pint, the offer has a 2,000 kWh monthly limit, and exceeding it will likely result in significantly higher rates, negating any initial savings, but they don't stipulate what that rate will be. 

What do you think?

@editor I think I’ll be staying with Octopus Energy Agile tariff; recently my average unit charge has been 10.25 pence. Charging the 27 kWh battery during the cheapest offerings each day enables me to run the heat pump without resorting to any periods of the day when the electrons are more than about 15 pence per unit. Our annual consumption is approximately 10 MWh and we export via OE’s fixed 15 pence per unit so this all helps to reduce the overall cost considerably as last year’s export was 7 MWh. From what you say, these ‘upstarts’ are offering a sprat to catch any unwary consumers - I don’t suppose Mr. Lewis at Moneywise.com* will be very impressed either! 

*Or whatever the site is called.

Regards, Toodles the Scrooge.

An installer recently posted this picture of a pre-payment meter they came across in a home where they did a job. According to them, the tenant of this property had not let maintenance come in for so long that property was actually metered twice, and not only that, this was the second meter and you had to fill it with 50ps to keep it running. Amazing!

@editor I wonder if anyone even carries the key to that padlock these days?

@editor Wouldn't the meter box fill up with 50p's and need emptying?

@prjohn Perhaps that depends on whether one makes a large enough hole in the right place in the box or not!😉

This has just been published: https://company.airahome.com/newsroom/aira-launches-100-green-energy-tariffs

That's just Octopus Cosy and Fixed outgoing tariffs given a Aira brand presumably it gives Octopus some traction in European markets.

@gary Exactly what I thought - and making it sound as though it is a special deal exclusive to Aira! I’m on Cosy and Fixed Export - I didn’t have to have an Aira to get that deal either. Regards, Toodles.

Some bad news: Ofgem has announced another energy price rise for October 2024, with further increases expected in January 2025. It’s now been three years since the gas crisis began. Despite crude oil prices dropping to more “normal” levels, this hasn’t really translated into lower consumer prices for gas and electricity. I’m wondering - how long does it typically take for these cost reductions to work their way through the system? And will we ever see prices drop below 20p/kWh?