New Government energy cap

pvr said:
Heating oil a different matter though,
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I did some sums the other day (as I had oil in my last two houses), based on my current rates (capped maximum).

For our usage, at oil rates as of Monday (boiler juice), oil would be £1.23 per day CHEAPER than mains gas!! :o

So you can shut up about the cost of oil; it's feckin cheaper :o :poke: :thumbsup:
 
Pondrew said:
pvr said:
Heating oil a different matter though,
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I did some sums the other day (as I had oil in my last two houses), based on my current rates (capped maximum).

For our usage, at oil rates as of Monday (boiler juice), oil would be £1.23 per day CHEAPER than mains gas!! :o

So you can shut up about the cost of oil; it's feckin cheaper :o :poke: :thumbsup:
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First time I’ve owned a home that uses oil & not gas, it’s difficult to compare as my present abode is very different to my previous one not just in size but in insulation/efficiency etc.
I think gas used to be the cheaper option but I’m not sure these days.
I think both fuels are too expensive!
I’m presently paying £90 per month for my electric, that’s probably below average?
Rob
 
Glad i stuck to a fixed deal last December until Dec 23 contrary to Martin Lewis advice not too at the time so gas is currently £65 and electric £78 a month. Ive entered the amounts into the smart meter and try and stick to that cost. Who knows what prices will be once the fixed contract ends. I doubt I will be offered another fixed rate deal and the dilemma will be do you go onto a variable tariff in the hope prices will drop. Sticking to a fixed rate next time might not be so smart.

Tim.
 
pvr said:
Heating oil a different matter though, that is about £5k a year
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I’ve just had a delivery today of 500 litres of heating oil via boiler juice which cost £408. I usually have a maximum of 1500 litres a year so that would be less than £1500.
What are you heating? A castle :poke:
 
Dav the wheel nut said:
What are you heating? A castle
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It's a stately home. I think he has a cafe, souvenir shop and everything. :lol:
 
Smartbear said:
First time I’ve owned a home that uses oil & not gas, it’s difficult to compare as my present abode is very different to my previous one not just in size but in insulation/efficiency etc.
I think gas used to be the cheaper option but I’m not sure these days.
I think both fuels are too expensive!
I’m presently paying £90 per month for my electric, that’s probably below average?
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I'm the opposite. Current house is the first one on mains gas, previous were oil and one was LPG!
It was great for about a year, not now!
Oil is about 90p a litre at the minute and you get about 10.3kW from a litre. Gas is now capped at 10.something pence per kW plus the lovely 45p per day for the privilege of having it. Oil IS cheaper at present.

My electric is predicted at around £140 per month average now. I have LED lighting everywhere, all 'A' rated appliances, no electric showers and don't leave stuff on unnecessarily and it's still bloody expensive. :?
 
Got my electric bill today, includes the £66.-- energy crisis rebate. Now EDF owe me £ 4.80 :rofl:

How bonkers is that :D
 
Had that, they take it off the DD, ie drop the DD payment by £66. I've put mine up to compensate for it as rather pay what i was already paying.
 
Enjoy the discounts and caps while they last. Today's U turns mean that they both run out in April. Nothing on what will replace them yet but this month's Chancellor has said the total subsidy will be a lot less going forward which means a lot of people will soon be paying a lot more :cry:
 
Yep up to date with payments and £400 plus in credit.

From next April it will be means tested. Interesting how they will manage that.

Only those on benefits or by certain council tax bands only?
 
Has to be refund based then I guess as they can’t run a personalised bill system for each individual.
 
Scubaregs said:
Had that, they take it off the DD, ie drop the DD payment by £66. I've put mine up to compensate for it as rather pay what i was already paying.
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For some reason outfox the market have paid £66 back into our account - why, just keep it to drouth DD, for me just keep it
 
Can I just ask what the rationale is with people overpaying so their account is in credit? Surely this just equates to a huge fund in the energy companies' Bank accounts, for them to earn interest on. Better off in your own bank account earning you interest surely?!
 
Most people will be in credit as their annual bill is split evenly over 12 DD payments, when using less gas and electricity in the summer/spring those payments put you ahead. Then when using more in the autumn/winter that credit will be eaten into and should roughly balance itself out. At today's rates £400 would generate about £20 in interest a year, I'd rather have 12 equal payments than far higher bills in autumn/winter.

Also you are not £400 in credit the entire year, you build that fund up and deplete it so you are actually losing far less than £20 a year in interest.
 
Scubaregs said:
Most people will be in credit as their annual bill is split evenly over 12 DD payments, when using less gas and electricity in the summer/spring those payments put you ahead. Then when using more in the autumn/winter that credit will be eaten into and should roughly balance itself out. At today's rates £400 would generate about £20 in interest a year, I'd rather have 12 equal payments than far higher bills in autumn/winter.

Also you are not £400 in credit the entire year, you build that fund up and deplete it so you are actually losing far less than £20 a year in interest.
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Thank you for the succinct response - sounds fair enough! I was always on a fixed tariff (previously with Avro Energy, until they folded), so had a monthly DD. Once Avro were taken on by Octopus I was on their standard variable rates, so have been paying monthly based on use. At the moment it just doesn't seem the right time to go back to a DD or fixed rate.

Anyhoo, horses for courses as they say, thanks for your explanation either way :thumbsup:
 
Stevo1987 said:
Scubaregs said:
I'm £440 in credit at the moment.
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I can beat that.....

Balance £1,110 in credit :D
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It annoys me being in credit at all. Can't imagine how I would feel giving them a £1100+ free interest loan.

You have given them more than my electricity will cost for the year!
 
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