The cost of living... what can we do?

Strange how that kind of thing can be based on age, so a rich 90yr old gets it but a poor 70yr old doesn't.
Crazy.

 

Update to the MSE report the other day -


Additional information on the energy price guarantee

• The energy price guarantee limits the amount households can be charged per unit of gas or electricity. So your exact bill will continue to depend on how much energy you use. You do not need to apply, and there's no need to contact your energy supplier. For households in England, Scotland and Wales who pay for their energy through monthly, quarterly or other regular bills, the guarantee will be applied when your bill is calculated. Here are the average unit rates for dual-fuel customers paying by direct debit:
  
  Electricity
  Unit rate: 34.00p per kWh
  Standing charge: 46.36p per day.
  
  Gas
  Unit rate: 10.30p per kWh.
  Standing charge: 28.49p per day
  
• Support will also be offered to those off-grid, including those in park homes and on heat networks, through a discretionary fund. We've asked for more info on this.
  
• A new scheme for businesses and other non-household energy users will offer equivalent support for six months. After this initial six-month scheme, the Government will provide ongoing support for "vulnerable" industries. There will be a review in three months' time to consider where this should be targeted, though further details have yet to be confirmed.
  
• An equal level of consumer and business support will be delivered in Northern Ireland. However, exact details on how this will work have yet to be confirmed.

 

I'm still anxious about the fixed rate I locked into fearing further price hikes.

My unit rate went from 19.35 pence to 59.9 pence before the new cap was announced. I know it's been said that we'll be able to get out of the fixed deal but until I have confirmation of that from my energy supplier I'm going to stress at the prospect of my bills tripling.

What's madness is that the fixed deal would mean my new single highest monthly outgoing is no longer my mortgage.

 

I think you always have the option to get out of a fixed deal, even if it meant a small fee.
But this is the cap now, so they can't charge more than that.

 

The most stressful part is I can't even speak to them. Phoning is a non starter, I've already tried several times. I usually get hold of them through messenger, but their automated response said to expect a waiting time of two days. That was last week. I fully understand that they'll be super busy because there'll be thousands like me that need to know what's happening. It would be useful if they'd put something on their website but that hasn't been updated for weeks.

But hey ho as they say. Musn grumble. It could be a whole lot worse. I'm lucky that my income is a little bit higher than it is for many. A lot of folks are still going to struggle even with the new cap.

 

I am with EDF and agreed a 24month fixed term of 29p kWh and 32p per day standing charge, contract expires January 2024. The business is also with EDF and I agreed a 36month fixed term, not 100% sure the unit cost off hand but between 24 and 26p, I do know the standing charge is 25p per day.

Gas only accounts for 7.8% of our energy mix, well below the national average with nuclear being the main source at 62% then renewables, gas then coal.

The current way of charging for electricity is, "not fit for purpose", even if gas was not part of the mix, we would still be charged the next highest cost per kWh, which for us would be nuclear.

 

Yes, however you can get of the contract, for a fee.

Large fuel consumption businesses use fuel hedging, especially when fuel prices are volatile like we are experiencing. Haulage companies, airlines etc will adopt this method. If the costs of fuel increase, then your not exposed, however, if they drop below your contractual agreement, then the saving is not passed on. At the moment, I would rather be signed up to a 3 year contract, then I can plan better on my pricing, which I wouldn't be able to do when your exposed to volatile prices as we are now.