The energy crisis

[joglynne]

Originally Posted by SnoopZ

Yes thats my train of thought too we just don't know.

I'm trying to decide what to do. My 2 year fix with Octopus ends on Setember 9th.I know I will go onto their Flexible (standard ) option automaticaly but they have also offered a Loyal Octopus 12M Fixed and I just can't decide what to do. ((glum face))

[Sephiroth]

I assume that companies would offer something that is calculated to increase their profit.

[Jaymoss]

Originally Posted by Sephiroth

I assume that companies would offer something that is calculated to increase their profit.

The price cap has ruined everything. Competition was great switching to the best cap deal every year

[Mr K]

Originally Posted by Sephiroth

I assume that companies would offer something that is calculated to increase their profit.

Exactly. They wouldn't make any of these fix offers if they didn't calculate they'd get more money out of you. (through retained custom and/or fixing too high). They ain't in it for our benefit.

[Jaymoss]

They are still speculating on the market and could lose

[Mr K]

Originally Posted by Jaymoss

They are still speculating on the market and could lose

The odds will always be in their favour or they wouldn't be in business. ( a bit like the bookies...)

[Ms NTL]

Originally Posted by Mr K

The odds will always be in their favour or they wouldn't be in business. ( a bit like the bookies...)

how many went bust? bulb, avro ....

Originally Posted by Ms NTL

how many went bust? bulb, avro ....

Mmmm….

https://www.theguardian.com/business...20last%20month.

Gudka and Wood cashed out £4m each in shares in 2018. Gudka left the business before its collapse to set up a battery storage company while Wood faced criticism over his £250,000 taxpayer-funded salary after it went bust.

[Heavymetal1]

Originally Posted by joglynne

I'm trying to decide what to do. My 2 year fix with Octopus ends on Setember 9th.I know I will go onto their Flexible (standard ) option automaticaly but they have also offered a Loyal Octopus 12M Fixed and I just can't decide what to do. ((glum face))

I was offered a one year fix by my supplier Eon.Next at 1% below the Energy price cap I took the one year fix purely for peace of mind ,and after reading Martin Lewises MSE guide which says it was worth considering at that rate .

After its run its course I am hoping the prices will have come down again somewhat.

[Sephiroth]

Originally Posted by Heavymetal1

I was offered a one year fix by my supplier Eon.Next at 1% below the Energy price cap I took the one year fix purely for peace of mind ,and after reading Martin Lewises MSE guide which says it was worth considering at that rate .

After its run its course I am hoping the prices will have come down again somewhat.

Is that 1% below the energy price cap whatever it is whenever it is changed during that year? Given that the cap is taken as the standard variable price now by those thieves, 1% less is something, albeit they’ve locked you in.

[Heavymetal1]

Originally Posted by Sephiroth

Is that 1% below the energy price cap whatever it is whenever it is changed during that year? Given that the cap is taken as the standard variable price now by those thieves, 1% less is something, albeit they’ve locked you in.

No thats 1% lower then the Energy price cap in July ,not the ones going forward its going down again in October just been announced ,before Cornwall Insight predict a slight rise in Januarys ,so I may end up as even Stevens on the deal .

But if it does rise unpredictably in January at least I am covered ,if the last few years have taught me anything at all its the almost totally unpredictable nature as regards the energy markets thanks largely to the Ukrainian invasion .

[Sephiroth]

Originally Posted by Heavymetal1

No thats 1% lower then the Energy price cap in July ,not the ones going forward its going down again in October just been announced ,before Cornwall Insight predict a slight rise in Januarys ,so I may end up as even Stevens on the deal .

But if it does rise unpredictably in January at least I am covered ,if the last few years have taught me anything at all its the almost totally unpredictable nature as regards the energy markets thanks largely to the Ukrainian invasion .

I can’t question your logic. But their 1% is measly and proves to me that all they are doing is protecting their margins at your expense. As you say, evens-stevens is a likely outcome.

[jfman]

Originally Posted by Sephiroth

I can’t question your logic. But their 1% is measly and proves to me that all they are doing is protecting their margins at your expense. As you say, evens-stevens is a likely outcome.

It might benefit the end user very slightly over the term. It benefits them (from a shareholder value perspective) to have a customer in contract for ever so slightly less profit than one who could in theory walk away any time.

I fixed with E.on in July at a price that’s still lower than the October price . My usage drops off a cliff in April anyway so I’m only really at risk of losing out in the January to March window having already saved in the six months before that.

[Taf]

Our latest energy bill from Scottish Power has arrived. All prices include VAT.

Electricity
Standing Charge: 53.82p per day
Was 33.28 p/kwh
From 1st July 30.22 p/kwh

Gas
Standing Charge: 29.11p per day
Was 10.47 p/kwh
From 1st July 7.66 p/kwh

Our electricity use per day was 11.8 kwh, they say the High Usage level is 11.7 kwh
Our gas use per day was 17.8 kwh, they say the Low Usage level is 21.9 kwh

Our electricity usage for this period was 884 kwh compared with 866 kwh for the same period last year.

Our gas usage for this period was 468 kwh compared with 526 kwh for the same period last year.

[1andrew1]

Octopus is set to acquire Shell's 2m energy customers, making it the second largest energy provider in the UK after British Gas. Not bad for a company that was originally a challenger brand and did not have its roots in a privatised electricty/gas supplier with millions of guaranteed customers from day one!
https://www.msn.com/en-gb/money/othe...ccc379bc&ei=15