Sky High Energy projections/DDI increase requests

[hayfield]

I noticed today on the BBC OFGEM is now looking into the sky high cost of standing charges, despite energy campaigners complaining all year that it affects those less well off far more than anyone else, in the past 5 years the cost has risen by 66%.  Well as they are the organisation who set these rates hopefully it will not take very long

 

The reason apparently is to allow the energy companies to recouped the cost of bailing out the failed firms, a tax on the energy producers who have made so much money would have been a better route. But the problem is once these rates go up they never go down, plus we were led to believe the government has been picking up the bill !!!

 

I my opinion the standing charges should only be used to cover the cost of the delivery network, and as this is a monopoly these costs should be stringently managed

 

The trouble is all governments have used these charges to pay for various schemes, one which seems out of control is the old FIT scheme where one of my friends is being paid 54p for every kwh he produces including the kwh he uses !!! so the final £'s per kwh is much higher, no doubt there are many more hair brained ideas from previous government schemes that are milking the system

 

Why is it that these quangos are let loose to do what they want when they are seemingly never questioned and not answerable to the electorate 

 

In my opinion on OFGEM's watch these rates they have set are now against the consumers interests and they have overseen a period where competition between suppliers has vanished.

 

Rather than setting a cap where prices should be below the cap, the cap is now seen a rate set by a cartel for their own benefit

[30368]

6 minutes ago, hayfield said:

Rather than setting a cap where prices should be below the cap, the cap is now seen a rate set by a cartel for their own benefit

 

Spot on John. Another example of no risk Capitalism or as it is in the UK, Taxpayer Funded Capitalism.

 

Kind regards,

 

30368

[hayfield]

Just tallied up the first 16 days of our 31 day accounting period and the news looks good

 

Octopus anticipated I would spend £137.96 this month

My projection based on my usage and exports for the last 2 years of the same period was 61.16 (down from 71.33 which used the previous quarters rates

The first 16 days usage a net £21.15

 

Aided by us being away for 10 days, but increased by our intelligent heating system throwing a wabbly and turning our central heating on for 4,5 hours at 25 degrees, burning through an extra 31 kwh of gas !!, so a lot of the gains of being away were lost. Good job it was not electrically heated

 

The extra bit of good news, rather than eating into my credit balance as Octopus predicted, it looks like I will go into the winter quarter with a higher credit balance. as I may do next month as well

 

The next thing I am waiting for is Octopus' new rates for the next quarter, this will impact on how much we spend in the most expensive quarter

[hayfield]

Octopus has just announced its latest prices, standing charges thankfully are staying the same

 

Electric now down to 27.932p per kwh from 30.72p   down by 3.288p

Gas now down to 6.784p per kwh from 7.399 p  down by 0.615p

 

Octopus expects that I will save £79.58 on my gas usage (most of which will be in the winter months) and £53.47 on my electric usage, which is much the same each month

 

Nothing about how much they will pay for exporting electricity in the coming months

 

Still reducing my annual bill by £130 pa (to £1658 pa) If this is correct my net bills will be less possibly by £210 pa.  If my maths are correct Given I am £550 in credit and I pay £1320 pa via DDI I can look to either reduce my DDI or withdraw some of my balance. 

 

I have just looked at my projections for October, using the rates from 6 months ago I was projecting a bill of £91.02, 2 rate changes later its down to £68.54 which is far better than Octopus £174. At least they have my credit balance correct, and seem to agree my current balance and payments will result in a slight credit balance after 12 months, to that I need to add the export income they pay me

[hayfield]

Its clear from all the data that our energy bills are falling and whilst energy is much higher than before the energy crisis (was it being kept artificially low by Russia ?) it is far more affordable

 

6 months ago Octopus were forecasting this months energy bill would be £138.96, recently it was decreased to £118, my own projection initially was £71* falling to £61*  

 

However the cost was actually before export fees was £71.32 after export fees deducted it came down to £43.42. Partly because we were away for 10 days and some decent weather in September.

 

I have noticed that recently Octopus forecast system has dropped in expected costs in the past 2 months, plus rather than understating my credit balance its now overstating it

 

What is surprising, is they are still suggesting I increase my DDI by the same amount per month now as it was 6 months ago. even though my projected costs are falling, perhaps this will be the next tweak to the program. Partially in their defence their forecast ignores my export income, but my figures are based on my average usage for the past 2 years at the latest rates (energy costs are still predicted to fall) I am actually thinking of reducing my DDI

 

At this moment I cannot recalculate the next 3 months usage as the bills section is not working at the moment but I noticed that their forecasts for November and December have reduced by £50 & £60 respectively. Next month Octopus projection initially was £209, now they are projecting £174, my initial projection was £91 its now down to £68.54 after the last 2 rate revisions .

[hayfield]

I have now been able to review my own projections for the coming 6 months, thankfully it seems my credit balance is in a health position to cover any shortfall caused by costs being more than my DDI payments

 

The next 6 months I have forecasted my bills will be £465 more than my payments, so I am happy that not only will my credit balance and payments will cover costs but also has a healthy  additional cushion if we have either a colder winter and or prices rise in January

 

The main driver for me investing in a smallish solar power system was to save me drawing on savings to pay for energy, certainly to date its saved me from increasing my DDI, as I am entering my 4th year of not increasing it. Certainly my electric usage has dropped from an estimated usage in 2021 of 3351 kwh pa to just under 1900 kwh on my latest statement

 

Lets hope for a decent winter for all

 

 

[Phil Himsworth]

11 hours ago, hayfield said:

(energy costs are still predicted to fall)

One thing to remember is that while energy is cheaper this year, we aren't getting the monthly £66 (or whatever it was) we were given last winter. I haven't worked out whether the reduced unit cost is wiped out by not getting that...

[hayfield]

52 minutes ago, Phil Himsworth said:

One thing to remember is that while energy is cheaper this year, we aren't getting the monthly £66 (or whatever it was) we were given last winter. I haven't worked out whether the reduced unit cost is wiped out by not getting that...

 

Phil

 

I have not factored last years payments into my forecast, but a quick look at Decembers figures is I will be saving £13.80 on electricity and £69.69 in gas payments. My last December bill was for £331 less £67. Net £264. My projection is for £243 this year

 

I assume it will be the same net cost (ish), but I came out of last winter better than I feared and it looks to be about the same this year

[hayfield]

10 hours ago, Phil Himsworth said:

One thing to remember is that while energy is cheaper this year, we aren't getting the monthly £66 (or whatever it was) we were given last winter. I haven't worked out whether the reduced unit cost is wiped out by not getting that...

 

Phil

 

I have just done a quick check using last years usage with this quarters rates, in my situation I would benefit to the tune of £350.66 lower charges (increased standing charges), but these figures do not take into consideration of any reductions of either energy rates or standing charges in January

 

As it is, my net bill will increase by £50, however as I have just said not only will Januarys rate change will affect this, but also the weather will have a say in the cost and inflation plays a role in costs. I coped OK last year and have made a similar plans to deal with this years costs

 

What we must take into consideration, is that for years we have been led into a false sense of security with energy prices kept artificially low, the one glimmer of light is that OFFGEN is on record saying both the way of calculating energy prices (being based on the oil price) and standing charges need changing, as both adversely affect lower income families

 

3 years ago we were being warned the cost of energy was going up, I was in a (lucky ) position where I could do something about it,(it cost us a lost holiday) with a view of saving money in 10 to 20 years time. No one then could have foreseen the crisis we have just gone through, but there were many warnings of rising energy prices to come. My fear was that in ten years time I would have to be using our savings to top up our income for rising energy prices (being retired there is no way of generating/replacing savings). 

 

In April 2021 we were paying 16p per kwh for electricity

In Sept 2021 we were paying 3.15p per kwh for gas

 

Having been in the food industry for the last 11 years of my employment we saw food deflation for many of those years, as we see now there comes a time when the market reacts, which it has done. Likewise with low interest rates pushing up house prices, again with rates rising and inflation prices are slowing and in some cases decreasing, Being 70 this is just one of the many cycles I have seen over the years where prices readjust themselves.

 

A very long rambling of saying given inflation its about the same as last year

[hayfield]

The other week I saw a forecast which expected to see electric prices rise for the 1st quarter of 2024 then rates will reduce for the next 3 quarters of 2024, think it must have been taken from a recent House of Commons release. 

 

Cornwall Insight seem to have the same thoughts other than they have been forecasting higher standing charges, I have also noticed that their projections are not quite as accurate as some of the press commentators would have us believe. Which as I would have expected are just educated guesses. Lets face it satiations are just up market bookies, however the latter seem to stack the odds in their favour

 

I have looked at both the house of Commons and Cornwall insights forecasts for next year and they are about the same, with rates being cheaper in the warmer two quarters and more expensive in the colder quarters. I have also tried to compare rates (which is harder than you would expect) with many of the sites wanting to speak with you rather than show rates

 

With me the third part of the calculation, which comparison seemingly do not offer is export rates, or rather the loss of possible income if I move away from my current supplier

 

Still I looked at the existing fixed rates via the Which website and it seems there is as you would expect little if any benefit in fixing rates at this moment. I have also come to the conclusion we are near the lowest rates at the moment with on electric prices possible coming down by 2 or 3p per kwh, so no major savings in the near future

[hayfield]

Half way through the latest billing period and the warm weather is helping us out, based on the past 2 years usage my forecast usage cost is £91.02 against Octopus latest projection is down to £185 from £209 earlier in the year

 

With 15 of the 30 day billing period my costs to date total £30.39. costs look good so far and even if we have a cold snap this year looks to be cheaper than the past 2 years as far a KWH used

 

However its the next 4 months that are the most expensive, looking at the last 3 months of this year my projections are £260 below Octopus but I still expect it to cost me £528 for the 3 months, not done any forecasts for next year and I may wait till next quarters rates are announced

 

Still a good start to the last quarter

[hayfield]

I heard on TV that Offgen is looking to consult with the general public about the effects of very high standard charges, though I have seen nothing about this in the written press

 

With the recent gloomy weather my energy costs have increased in each and every week this month, with 4 days to go till the end on the latest billing period I am anticipating a bill now around £76 for the period, Octopus were forecasting £209 for the month, the forecast has since dropped to £185, my own forecast based on the last 2 years is £91. My forecasts do include export payments which I anticipate will be around £15 for the month (I anticipated £22.80 in my £91 forecast)

 

Next month I am expecting a bill of £224 as winter starts to bite 

[hayfield]

The latest accounting period figures are in for this month

 

Firstly I have noticed Octopus's projections have dropped dramatically. They are still suggesting I up my monthly payments by £26 pm which is a lot less than 2 months ago. Also their forecasting system is agreeing with me that my payments will cover my expected use for the next 12 months. They are forecasting that my account will run down by August to a credit of £100 (-£450 from this year) What they cannot factor in is my export income which hopefully will be enough to maintain a status quo 

 

My projection of £91 for this accounting period was £2 more than my bill Octopus originally forecast £209 but dropped it to £138. So we are much closer now than a year ago with our forecasts, in fact I am forecasting a larger bill in December than Octopus is, for the coldest 3 months we are very close together with our forecasts. I am expecting by the end of April my credit balance to drop to £189, so I am happy I have sufficient surplus to cover a colder winter than average.

 

There seems to be conflicting info as to where energy prices will be over the next quarter, we will have to wait and see if the issues in the far east keep affecting the oil price

 

 

[Metr0Land]

OK this will be quite long.  We moved here in 2014 and the old lady before us had committed to the short-lived ‘rent a roof’ scheme from the late 2000’s.  When solar was VERY expensive relative to peoples’ means and payback was uncertain, and also the life of inverters was uncertain, some entrepreneurs offered a scheme whereby you ‘rented’ roof space for eg 25 years. There was zero outlay for the householder but the providers took a 25 year charge on the property, with a schedule whereby you could pay them off.  At the time our solicitor had been reading up on such schemes and said our contract was one of the better ones ie not one-sided.  Basically the householder could draw off whatever power they wanted from solar and the provider could sell the excess to whoever.

 

At the time there was plenty of discussion about how long inverters would last and it was by no means infeasible that they would fail 12-15 years in so I didn’t want to pay the ‘ransom’ and possibly be saddled with the expense.  Also, I misunderstood the rate at which the ransom declined – my bad.  I lost my wife in 2018 and just let things ride; the charge on the property runs from 2011-2036 and I’ll be 75 soon so had been thinking whether to get the monkey off my back or continue to let it ride.

 

I reasoned that all I would get would be the same as now, plus the ability to sell some of the production at (to me) not very exciting rates.  By now, storage devices had become a good deal more attractive but still quite an outlay upfront.  In the interim I’d moved from a petrol car to a mild hybrid to a PHEV (NO reason to buy BEV in west Wales!) I’d been a refusenik with smart meters until the PHEV but of course my stance changed and am now on Octopus Go and assoc smart meter.  Since the rent-a-roof contract allows me to draw off whatever I want/can there’s no change there if I get a storage unit.

 

My system has ~4kW of panels with a Fronius IG TL 3.6kW inverter.  I had a couple of potential installers for additional solar panels for me to own and also install a storage until and the consensus was that the Fronius inverter was good quality ‘cos the installers don’t want to be back in 25 years. One thing that always puzzled me was exactly how the meter could tell how much was coming off the roof and how much I’d used to determine how much excess was available for the installer to sell.  It turns out that it’s just a dumb meter despite the digital display and they can’t tell how much I’ve drawn off and the contract between the installer and whoever pays them simply has a guesstimate of much the householder uses and applies a set pct to determine their payment.

 

I realised that additional panels wouldn’t do much for me and storage would be the way to go (for me).  A friend of mine had recently installed additional solar panels and a 13.6 kWh Tesla Powerwall – pretty much a Rolls-Royce solution but he has spent a lifetime in gas and electricity production/distribution/use (was working on electric buses for the Sydney Olympics) and is a real data junkie.

 

Anyway, I had a look at this setup as it’s always nice to see something actually installed, and not just listen to the sales patter.  He’d gone into a lot of detail with competing storage devices (and car chargers) and determined that going large was the way to go, and that Tesla had by far the best software, along with zappi car charger which has good s/w and integrates well with Tesla powerwall.

 

I only really needed a powerwall.  If it’s part of a new system it’s free of vat whereas on its own you pay vat.  A system can be as little as 2 panels.   Since he was happy with his installers I got a quote from them for powerwall + 4 panels which turned out to be more than I’d hoped or expected.  I had a budget in mind of £12k which could be stretched for good reason.  The ‘vat free’ powerwall was £11.1k.  Hmmmm,  I got another quote from another Tesla appointed agent who came up with a quote just below £10k for powerwall-only including vat.  Guess who I went with?  (I also got a zappi charger which I’ll explain in another posting as it’s related to this but this is already getting long).

 

Before I was ready to commit I went back for a 2nd look at my friend’s system with detailed questions in mind for how I would use it in my own lifestyle.  It seemed to confirm to me that bigger is better (if you can afford it).  I live in west Wales with overhead power lines everywhere.  Back in 2014 there were endless outages when posts blew down.  It’s a lot better now but I can still expect a few (generally short) outages each winter. One advantage of the Teasla powerwall is you can hold back a set pct/number of kWh for outages. I’m currently holding back 10pct which is prob unnecessary and will reduce it except when bad weather is forecast (and this week is bad).   That would give me 3 hours of background usage - the Tesla cuts in instantaneously and you wouldn’t notice it apart from getting a message to the phone.  If you have a smaller system then holding back the same kWh just in case, means you have less available in the day and are likely to draw full price electricity from the grid (I average 7-8kWh per day excluding car charging).

 

The system has been operating for 2 weeks now and I’m becoming an evangelist.  I won’t have a bill from Octopus until about 11Nov and that will only be part month so have to wait to 11Dec to really see in £’s what’s happening.  I’m not forecasting anything at this stage.  I’ve been impressed that my modest system is now grabbing approx. 5kWh a day solar in pretty rubbishy conditions (but they’ll be worse this week).  The Tesla software is impressive and you can geek out on it all day long.

 

Will it pay back? There’s a few different angles to this.  Worse case is prob 12 years and I may not have 12 years.  It’s likely to be somewhat less but until we get through winter (and maybe a full year) forecasting solar capture isn’t practical yet.  What I can say is virtually all my electricity now comes at 9p overnight rate or from solar.  (The powerwall can only output 5 kW max and I still haven’t quite got the hang of using kettle and 2-3 cooker rings + oven (or grill) when I make dinner so the load sometimes exceeds 5 kW).

 

However, I’m in the fortunate position of having funds from when we downsized and moved to Wales which as you all know have been paying absolutely zip interest for years now.  As rates have rocketed up I’ve had to quickly move money into cash ISA’s where possible and longer term fixes so the interest is paid in future tax years whilst I organise things.  I had no plans to use this extra money so I can use these funds to rebuild the capital I’m spending on the powerwall.  In fact in less than 3 years I should have rebuilt the capital meaning I won’t care if the powerwall pays for itself in electric savings.  This of course is dependent on me not needing the same funds for medical/care stuff.

 

For me it’s principally about peace of mind for the future.  Hopefully I can pay for it whether or not it generates enough saving in my lifetime.  I now have a backup supply for outages which will happen here.  Every winter there are mumblings about enough supply and electricity rationing – will it happen in my lifetime – prob not.  Will pricing by time of day happen in my lifetime – 50/50 – but it will happen in many of your lifetimes, and if it does I’m protected by buying at night/grabbing solar.  Will electric prices rocket up again?  Who knows, but even if night rate goes up 50pct that’s still only 15p kWh.  

 

Phew, quite a bit there, further notes to follow about zappi and about getting multiple powerwalls with an interesting angle.

 

[Metr0Land]

At the same time as installing the Tesla powerwall I decided to fit a zappi car charger.  A little over a year ago when I ordered my Ford Kuga PHEV, I investigated the cost of ‘proper’ chargers versus the granny charger you get with the car and decided that it wouldn’t pay for itself and would live with the inconvenience of 2 kW charger.  In the event, there haven’t been many occasions when I could really have done with a more powerful charger but they have been frustrating.

 

Once I’d decided to install the powerwall I knew there would be an amount of upheaval and decided to install the zappi at the same time to get all the building work done at the same time as there’s a 50/50 chance I might end up with a BEV before I shuffle off.  Although the zappi and Tesla powerwall should integrate easily I also felt it prudent to get one company install and commission them both at the same time.  I didn’t want to get 2-3 years down the road and find 2 different installers pointing the finger at the other if they wouldn’t integrate.

 

With colder days and nights coming I’ve found the usefulness much greater than I thought.  Even though it won’t pay for itself the utility value is quite high.  I can get a full charge in the 4 hour cheap window at night. With colder days coming I’m more frequently needing a bit of a charge in daytime if I go out twice the same day.  Topping up can now be done by taking power from the powerwall which in turn has been charged by either electric at 9p kWh or solar.  Also, something I hadn’t planned:  Occasionally the powerwall is quite full and the sun comes out unusually strongly.  If the car isn’t charged I can divert power to the car rather than dumping it to the grid, and capture more solar.

 

[Metr0Land]

Hands up those of you who thought electric might be becoming the cheapest option for heating.  I live in west Wales and there’s no mains gas in a lot of places.  If you have LPG you don’t own the tank and have no option to shop around, meaning for most of us the options are oil, wood or electric.

 

My friend who’s worked in electric and gas supply industries and is a data junkie has just installed a 2nd Tesla powerwall and converted his Rayburn from oil to electric.  That means he has 26 kWh of electric storage to charge at the 4 hour night rate + solar collection.

 

He’s done the calculations and his property will allow that level of charging (though the 1st night of switch on of 2nd powerwall was probably the night of the max current draw).  He and his wife are keen to have peace of mind for future guarantee of supply of energy and to move away from fossil fuels.

 

As with all these things, projecting a financial outcome over say 10 years is fraught with ifs and buts, and small changes to pricing assumptions can magnify over 10 years.  He can’t say for certain that electric will turn out to best the best financially.  They’ve decided that if they’ve made the wrong choice they will accept a small penalty for foregoing fossil fuels, and from the numbers they believe that if it wasn’t the best financial result, it won’t have been a terrible decision.

 

Food for thought.

[hayfield]

This month is flashing past with only 6 days till my billing period left, I have noticed that the Octopus forecasting is getting in the winter much closer to my projections, which I assume they do not include my energy exports, plus they are now only suggesting that I increase my DDI by £12 a month (down from £40+) but now forecasting that in 12 months time I will still be in credit, but by only a third of what it is now

 

The projections for this month from Octopus £186.84 mine £165.51.  Based on the first 25 days of this period (actual £131.63) I am projecting a bill of £163.22. 10 days ago I increased the heating by 1.5 degrees as we had the wife's elderly parents staying for a week, then I though for a few £'s extra we can be more comfortable so its staying at 21.5

 

Next up is both Cornwall insights projections are due for next year and OFFGEN's price cap. Last quarter they held back on increasing the standard charges, will they do the same next quarter? and with wholesale prices are rising, will we see a rise in prices for the next quarter?

[hayfield]

I see OFGEM has announced the latest prices and I see the BBC has been less than accurate with the prices

 

Electricity they quoted as going to be 29p per kwh, OFGEM has capped it at 28.62p per kwh

Gas they got totally wrong at 7p, OFGEM has capped the rate at 7.42p per kwh

 

The standing charges will go down for the month by 1.25p for the month

 

Anyway if I use the same amount of power as last year it will cost me £14.53 extra against the current rates for January, a bit less for February and March, then its expected to fall again

 

What we actually pay will be up to our providers

 

Yet again OFGEM has failed the public, they have not made any changes to either standing charges or the way in which electricity prices are linked to the gas price, both of which they have told us is against the public interest, unless you own a wind farm

 

Still we are a long way from the chaotic energy prices of last year 

[hayfield]

I have just had an email from Octopus outlining the new charges for the next 3 months, as forecasted energy prices will be rising for the next quarter. Standing charges are the same after rounding up Electricity going up 1.283p per KWH and gas up 0.524p per kwh. My annual forecast forecasts my annual cost will go up by £93

 

However the same forecasts assume price reductions for the following 3 quarters, using last years usage my additional costs will raise against last quarters rate by £38

 

However against last years subsidized prices

 

Electricity is 4.157p per KWH cheaper

Gas is 2.511p per KWH cheaper

 

Against last years January discounted rates this year using the same figures will be £63.98 cheaper and slightly smaller amounts for Feb and March. As I said the same forecasts which predicted this increase also predicts the next 3 quarters energy prices will be lower than the corresponding quarters.

 

Whilst not perfect for most the outlook on energy pricing is far better this year than last, certainly Octopus's forecast of an annual increase of £93 is inaccurate as its based on this quarters rates, if anything looking at industry forecasts on the energy price its more likely to be nearer to £90 less over the next 12 months  as rates are predicted to be less next year than this year 

[hayfield]

Cornwall Insight have just announced their latest energy price predictions for quarters 2, 3 & 4 next year. Good news as they are predicting electricity may drop in quarter 2 to 24p per kwh, I think the 1st quarter will be 29p per kwh 17% drop

 

Gas will be down to 6p per KWH from 7.3p 

 

More interesting for everyone the annual forecast drops from £1928pa to £1660pa Though the current annual cost is £1834 before Januarys rise, which is in my opinion a better bellwether as prices have been dropping all year after the sky high prices (a reduction of £178 pa against the 4 quarter of 2023 ) 

 

Looking back at November 2022 when Octopus were projecting I would be using £2600 pa amount of energy, this £1600 annual usage projection looks to be very good for all of us. Still a lot more than the £900 of 3 years ago

[Metr0Land]

I was on Octopus Go tariff (9p a unit - 4 hour overnight window) and a bit miffed I couldn't get onto Octopus Intelligent Go (7.5p a unit and six hour overnight window).  My car's a Ford Kuga PHEV and it wasn't listed as suitable.

 

About 10 days ago a friend alerted me to the fact that Intelligent Go is now available with the myenergy zappi charger which I have.

 

Strangely(?) you have to download the app as it's still not available via the desktop.  After downloading the app you now get an option to connect to a selection of chargers rather than cars in the first instance, and after selecting the charger then get a much longer list of cars than you could via the desktop. 

 

Happy bunny here, I've had no notification of any rise in January.  The drop from 9p to 7.5p should save another £8-£9 pcm.

 

[hayfield]

According to the BBC Cornwall Insight are forecasting energy bills will be coming down in April by around £300 pa

 

I think its worth looking back and compare prices of a kwh and standing charges

 

                     Electric                   gas

April 23    32.26p  + 40p      9.71p  +  26p

Jan 24       29.22p   + 42p     7.31p  +  27p

April 24    23.66    + 58p       5.73    +  30p

 

The standing charges have been frozen for the past 2 quarters, but CI are still projecting increases in the standing charge way above what I think would be acceptable given the profits energy companies have enjoyed ( suppliers less so)

 

In April, May & June I have averaged using 123kwh of electricity, the new rates reduces my electric bill by £8.84 pm, using last May's gas usage as next quarters monthly saving, the reduction against this quarters charges  per month is likely to be £10.67, equates jointly for the quarter to a saving of £59. I guess we have to accept the savings for the year given prices alter every quarter. But it must be good news with those struggling with their bills

 

The savings against the crisis highs are quite staggering, but that's another story

[hayfield]

I have just received this months bill and I was very surprised to see I exceeded my projection by £14 (£11 of Octopus)

 

Firstly over Christmas we increased the thermostats temperature as my wife's elderly parents were staying, secondly my son in law gave us one electronic radiator valve to try, and as they were half price (£44 each )we brought another 5

 

We now have all the main rooms on their own programs, the unused spare bedroom is only on low, our bedroom is only on when we get up and go to bed. Each room has its only settings and only on when we use the area, though these can easily be changed if rooms are being used out of the sequence we have set. As I said we have spent 2 to 3 weeks refining the system which included that very cold spell.

 

Rather than thinking what temperature we could live with, we are now nice and warm in the rooms we use which in itself is worth the extra

 

Well I expected a large bill owing to increasing the houses temperature, as it turns out had it been set up as we now have it the usage would have been much nearer our projections, which is far from what I expected

 

Now it will be interesting to see if we actually save money, as the valves cost me £220

[Metr0Land]

Not impressed by Ofgem adding 7p per day to standing charge (if that's what most companies will be doing) in April. I'm on electricity only (oil for heating).  Surely this just compounds problems for people on dual fuel who will be pay ~£35 pm even if they use nothing?

 

I understand it's in none of our interests for many more suppliers to go bust.  However Ofgem are quoting £3bn of debt as the reason for the increase, but without any transparency as to how/when this will alleviate the problem and when we might see the back of it.

[Michael Hodgson]

We never had any of this nonsense in the days of the CEGB, it's all happened since privatisation.

 

If the government had bailed out the energy companies whose dealings in the futures market were badly managed and therefore went bust, they'd have to increase taxes to pay for it.  If they make the surviving (and therefore presumably better managed) industry pick up the bill instead, it looks more like something that can be blamed on international markets, foreign wars, and or even Johnny Foreigner generally, and it lets the politicians and the regulators off the hook.