News: Energy price cap to rise 5% in Jan so you’ll pay more than ever

What you need to know and what you can do about it
Full info at: www.moneysavingexpert.com/new...

[@lee_mc]

Standing charge needs to go asap. It's an absolute DISGRACE.

[@Dynasty1818]

So then all suppliers go bust. Great logic. But I bet you think suppliers are raking in billions, when their profits are capped at less than 2%.

[@lee_mc]

@@Dynasty1818 sympathising with corporate greed, may as well just tighten your blue tie.

[@JohnR31415]

It just needs to be set at a more appropriate level. “Bailing out bust firms” shouldn’t be on the SC.

[@Azureecosse]

it always was the fact that its taxed too is the real kick in the teeth

[@Andy.Gledhill.Models.]

@@Dynasty1818 British Gas and the other big energy companies are raking in record profits every year. They don't need standing charges. We pay enough as it is.

[@ginashiel105]

I just wish they would stop blaming the ukraine/Russia conflict and start blaming themselves for their greed...

[@autistonaut]

Narcissists and Psychopaths don't usually understand the principle of personal responsibility.

[@suewright1299]

@ginashiel105 I just wish the Ukraine/Russia conflict would stop asap! At present we seem to be paying Ukraine as much as they need. Afterwards, I’d guess it’ll be us who pays to rebuild the entire country; I say ‘us’ as that’s what it’ll be, it’ll all come out of tax payer’s money for sure!!!

[@kristinesharp6286]

It’s not the Russia conflict it’s the just stop oil types handcuffing the west so the east can drive up prices and have enough money to buy western football teams and invade their neighbors. If you look into the green movement and money you will be surprised. The media and politicians on one side and universities have been bought and paid for by the same money. Why are US universities getting money from China and the Middle East when we are giving 100 million to Pakistan for gender studies and funding medical labs in China? Why did Moscow give former President Clinton 500K for one speech? Why do foreign entities own English football teams?

[@stuartswain8785]

SCRAP THE STANDING CHARGES, THEY ARE TAKING US FOR A RIDE. DISGUSTING OFGEM.

[@Jonesmatsunaga]

Rising energy costs pose a financial challenge for households, potentially impacting budgets and creating uncertainty. It's crucial to assess the implications of these increases and consider seeking professional advice to navigate this changing landscape effectively

[@Tylerredn]

Absolutely. The escalating energy prices highlight the need for a proactive approach to managing household expenses. Engaging a financial advisor becomes paramount in such situations. They can provide personalized strategies to mitigate the impact of rising energy costs, whether through energy-efficient upgrades or optimizing budget allocations.

[@Linda.xing-tj2fh]

Your experience echoes my concerns about the upcoming energy price hike. Can you share more about your advisor's role in addressing this issue and any specific recommendations they provided?

[@Linda.xing-tj2fh]

​@@fredarkins_could you share

[@Andres_853]

i just googled the man you mentioned, I am quite impressed with his credentials, will get in touch because I need all the help I can get, and consequently schedule a phone call. Thanks.

[@Bigwilli123]

Seeking professional advice is a smart move in times of economic uncertainty and rising expenses.

[@HoneyBumblebee300]

I pay more in standing charges than actual energy usage. They tell us to try and use less energy but rob us by charging standing charges.

[@izzytrue8630]

Same here!

[@edc1569]

How on earth do you manage that?

[@johndyda5673]

Yes, my electric standing charge is close to 70p! I live in North Wales not the bloody moon FFS!

[@Synchrodipity]

I use Utilita as my supplier -- I think they're the only company with no monthly standing charge. The only thing I have running on gas is my cooker, so my bills are significantly reduced.

[@HoneyBumblebee300]

@@Synchrodipity I have never heard of them. Will have to find out more.

[@cp4512]

The energy firms have been enjoying lower prices for the last year without passing on any benefits to their customers, and they’re making record profits. The cap should not go up at the moment; someone is getting a backhander or lobby money…….

[@Marshallo.o]

So continued record profits for the energy firms....

[@daviecrocket9160]

Did you expect anything different?

[@Dynasty1818]

You mean the 1.5-2% profit cap on Octopus, SSE etc? Oh yeah, CRIMINAL profits... Suppliers make basically nothing and are constantly on the verge of collapse. The PRODUCERS like Shell and BG though...

[@jjefferyworboys8138]

As your Pension provider probably has invested in their shares on your behalf , it's not all bad.

[@autistonaut]

​@@jjefferyworboys8138until the time comes when it is bad.

[@Stokie316]

Pure greed!

[@simonh317]

GAS wholesale is back to 2019 levels in the EU. Its all a scam

[@fintamaria2429]

Children will freeze from the cold in their houses and old people,,Thank you Hunt😢😢😢

[@angierobinson5570]

For God Sake in one hand and out of the other 🙄 thanks for the update Martin !!!

[@tinareid7383]

They have done it all in a way to make it look like we will have more, but we won't

[@GuestOfGregoryHouse]

That's why you never pay attention if they say the minimum wage is going up. Just means they're taking it back from somewhere else so you end up no better off.

[@nickbutler7935]

Remember we have to pay through the nose, so the Shareholders continue to get big fat dividends. Thanks Martin, always very helpful advice.

[@memyself1566]

Yes and some shareholders own the vast majority of shares - they are other companies and corporations! It’s called Cartelism. Healthy competition my arse!

[@RosieHarp]

They need to lower the daily standing charges. That's not energy price dictated. I'm paying 25 quid before I switch a kettle on. Disgusting

[@chantillyrose]

I pay for our energy bills monthly after a long fight with BG because our meters were reading very high. We are an elderly couple and use very little energy, the only gas items are heating and hot water. BG changed the meters and agreed it was impossible to use 1500 units of electricity in 5 days. It was then a battle to get the wrong bill corrected, but have to say it was still hugely in their favour. This process took 6 months to sort. As an example, last month our gas bill was around £25 but our usage was just over £5 and the rest was standing charge and VAT. We can't cut back on usage any more, we rarely use the heating and use a small portable gas fire, even if we used nothing we would still have the standing charge which is more than 3 times the cost of our usage, how can this be right and legal. 30% of our electricity bill is standing charge and VAT. People are being robbed by these mega companies making huge profits and paying out bonuses to their bosses and stockholders. All this is just a transfer of wealth to the rich who are getting richer off the backs of normal people, they don't care for the people at all.

[@sebluketravis2438]

*I just worry Shell, BP etc, aren't making enough to pay for their own heating*

[@cherries4life387]

I'm glad you share my concern... I've heard many of them have decided to keep their heating off this winter.

[@Viper6332]

Standing charges should be against the law, i dont get how its legal that they can charge you twice for literally doing nothing

[@TheVicar]

Those many thousands of miles of electricity cables and gas pipelines came free in a Christmas cracker, with additional vouchers for free repairs They're ripping us all off...

[@edc1569]

Just benefits wealthy people who have meters all over the place.

[@kjh789az]

Thanks, Martin. Most of the questionable general election tax cut bribes don't come in until April 2024. So, this non-ameliorated rise in fuel prices will result in acute misery for many. No comment from Hunt on this, of course.

[@davidrussell3890]

This used to be called RACKETEERING

[@TheDysartes]

Wouldn't this mean that inflation could go up in the new year....as the main reason why it came down was due to changes in energy price

[@evelynsommerville]

Absolutely sick of this😢

[@Dynasty1818]

Yeah. The uninformed whining cynical public are really getting on my tits with their stupidity. They STILL don't understand how energy caps work, WHY prices have gone up (Russian war is still going, now Israel, and oil just spilled in the Gulf of Mexico), the difference between an energy producer and supplier. I've had enough.

[@jaymurray6051]

This is how bad things have got I haven’t used heating for 4 years can’t afford it last paid my energy bill June this year last time I had money. Haven’t had a cooked meal in over 4 months can’t afford to use the cooker so I eat cold food mainly sandwiches. I’ve been considering removing myself but I’ve been smart enough to seek help from doctors knowing there’s must be hope and to not give up. That’s how bad it’s got for me and many others are worse off

[@nikk345]

When my fixed tariff ended mid year, my DDs went from £124 to £240, and now I get to give the energy firms even more money! Honestly, has our country ever been as great as it is now.

[@johnbellamy6449]

keep them hotels nice and warm for the illegals .

[@TheVicar]

@@johnbellamy6449 ?

[@willboa5365]

Im with EDF and im paying £130 pm for both gas and Electricity for a 2 bed cottage , which I still think is very high . Ive got a log burner , which I will use more to heat up my house . At the moment I use my radiators sparingly for an hour in the morning and two hours from 7pm - 9pm . I just wear a jumper .

[@dzung1969]

Same here

[@RosieHarp]

They should still be paying the £66 in Winter until the energy prices normalise

[@jjefferyworboys8138]

Sadly this is the new normal.

[@coxstev29ify]

They will never return. All these cost raises are here for good.

[@johnbellamy6449]

that was done by liz truss thanks for that last year ,it helped .

[@RosieHarp]

@@jjefferyworboys8138 Mine went down on 01/10/23 from octopus by a few pence. A short lived pittance

[@RosieHarp]

@@MyAirMyles Go and patronise somebody who is interested in your opinion. b€ll€Nnd 😆 How's *your* carbon footprint son?

[@cevans3855]

The great British Ripp off continues. Criminal.

[@Holycurative9610]

When do the public get to a point when they say enough is enough and just refuse to pay more. I use less than £100/month electric and my energy company want to increase my direct debit to £160/month and I said no and changed to payment by standing order so they can't change the amount. They then charged me more for electric because I wasn't paying by DD so I took them to the ombudsman and won compensation to cover the extra they charge me, about 3p/unit.

[@johnbellamy6449]

a lot of people will be going cold again this winter . same old story .

[@susie5668]

Well done I Refuse to pay by direct debit!

[@JudeTheYoutubePoopersubscribe]

Screw direct debits. We pay exactly what we use and not a single penny more. They're raking in silly amounts of money just by earning interest on customers money.

[@jermainelong1843]

This will impact so many small to medium sized businesses, as well as residential customers. Why doesn't the government step in on this racket???😠

[@edwinfitchett6033]

Cynic mode on: It's funny how despite the mild weather wholesale prices have risen sharply the ;ast 3 months just in time to push the cap up. I suspect the energy suppliers have worked out how to manipulate the cap which means it's no longer fitt for purpose.

[@j.4332]

Cynic mode:24 hours AFTER the Chancellors BIG "tax give away".Already gone in energy prices largely.

[@Bungle2010]

Why the hell would world energy markets be bothered about a price cap in one small north European country? 🤔

[@Lmwpitt]

Lovely, they increase the rates during the middle of winter....

[@ashleywilson2072]

I can wear an extra jumper over the winter. I feel sorry for poor families with children

[@BsktImp]

Just a word on the extortionate *standing charges:* Ofgem has opened, until 19th January 2024, a call for input consultation about the future of the SC - please make your views known! While absorbing infrastructure and other costs into bills will mean there may be losers (vulnerable users), to be honest I think most of us will lose as energy suppliers will likely exploit the opportunity to conceal artificially inflated charges in plain sight of Ofgem which either has no teeth or they're decayed beyond saving.

[@testpilotian3188]

Totally agree, the figures are eye watering, the standing charge rakes in £30 Million a day, are they honestly saying it cost ten billion, nine hundred fifty million pounds a year to maintain the infrastructure? Because if they are then we must have the most expensive electricity grid in the university, let alone the planet.

[@markjackson9827]

So the NI contributions we got back and we give it to the shareholders of Energy companies...so is this how Torism works?

[@Dynasty1818]

Vote Labour then. I'll be back when they win to laugh at your crying as things turn even worse under them.

[@j.4332]

Tory economics are basically known as the "Peter and Paul" school of economics.

[@markjackson9827]

@@Dynasty1818 how is that possible? I hear this a lot please explain?

[@moomin7461]

​@@Dynasty1818 Nice try 😂

[@alanpage3973]

​@@Dynasty1818enlighten us as to why?

[@JeffersonHumber]

This news will do wonders for EV sales

[@Taylor___]

Have you seen the depreciaton on the used EV market? EV's losing half their value in 2-3 years. Mental

[@Dynasty1818]

Great logic. "I can't afford a mere 5% increase in my energy bills, so I'll take out a high-interest loan to buy a car."

[@daviecrocket9160]

​@@Taylor___that's one way to shaft the rich which are the only ones that an afford them ahahahahhahahahaha

[@hydrocarbonsoup]

Most people who are going to be hurt by this price increase arent going to be able to afford even a used EV. Those better shored up against this probbably already have an EV.

[@mrfr87]

@@Taylor___that’s good. More cheaper second hand cars.

[@gtaylor178]

Piece of nonsense is Ofgem. Not fit for purpose clearly. Our heating electric costs have already gone up over 125% - the government needs to rethink, we do not live in the south of France we live on a cold island, electricity costs need to be more than halved by act of Parliament.

[@billienomates1606]

Yesterday the cost per kWh from the National grid averaged 3.28p YES 3.28 pennies. Why the fock am I paying over 26p from Octopus energy and a 5% rise in Jan 2024 focking disgusting.

[@williamgoss4691]

The Standing Charge is appalling; what a disincentive to cut down your energy usage; u will still be caned by the Standing Charges !!

[@johndyda5673]

I've told British Gastapo that I refuse to pay more than £60 a month. I am a 68 year old pensioner living on my own with minimal usage. Free energy already exists (zero point energy etc) but the big greedy corporations don't want us to know about it.

[@tombridge3608]

A nd don't forget that we'll all be paying VAT on that increase so the government's laughing all the way to the bank.

[@AR-zr1om]

I've cut my usage down to less than 50p a day but I'm paying over that in standing charge! It's a joke

[@jimw6659]

And yet the wholesale price of gas is just over half of what it was in January.

[@cpuuk]

When the Execs are paid bonus's based solely on profits (encourages low re-investment), then every company is going to try and screw the consumer. All ex national Water & Power needs to go back into public hands again, we can't continue to let Corps rip us off where we have zero choices.

[@Dynasty1818]

I give up, the fact that people don't understand how the cap is calculated even after what, 2, 3 years of energy bills being high...then again most still don't understand how your bill is calculated. Suprised you can remember your card pin numbers frankly. Prices have dropped through the year, now the price has gone up again over the last few months due to yet another war. In an industry where even just a THREAT to a pipeline can raise prices due to the supply/demand equilibrium. So our bill goes up. Not rocket science. January 2023 was close to peak prices we've seen. No duh the prices are lower now. Which is why your bill is lower now than it was closer to Jan. Nice clickbait/angerbait attempt though, baffles me people are stupid enough to lap this kind of whining up.

[@JohnR31415]

It’s based on the previous n months, not the current spot price

[@cp4512]

@@Dynasty1818dry your eyes princess 👑 😂

[@autistonaut]

​@@cpuukit's the executives that control the politics so that ain't happening anytime soon

[@parametr]

And still, over half my bill is the standing charge. 3 times as high as 18 month ago.

[@Basilisk4119]

So, fleeced again.

[@derekevans1932]

I am sure that you have realised that the so called regulators do not in general work for the consumers interests anymore and the reality of so called competition (and the regulator in effect is enabling monopolistic pricing by this). Also regarding the use of wholesale prices and who is effectively producing the electricity and gas, and what are the contractual obligations between end users where they want to bypass the "open" wholesale energy markets, I wonder who these businesses are?

[@turokforever007]

They are owned by the same people, so they can charge what they want as they know we have to pay it. Also, they are blaming Russia so get away with it even though we are still buying from Russia

[@irenekelly3687]

Thank you Martin what would we do without you x

[@daviecrocket9160]

Yes thanks for letting us know we are being shafted

[@simonsaysrewind]

Yes i did the e.on next fix in October last month.. i was very lucky as i was also on an incredible cheap fix for 2 years literally a month before everything went tits up. So i was still paying 43 per month for both gas n elec (single flat low gas user) .. im a press hour button for heating. Im now paying 60 per month (would be 80 but im in credit due to those £66 gov. payments and im due 100 for switching to smart meters).

[@MaterLacrymarum]

Well, so much for tax cuts. It's almost like the tax cuts were done to feed money to the energy firms.

[@japfourme381]

And people are still considering EVs, unbelievable!!

[@Gazmaz]

You told us about a fix from Octopus some time ago it was lower than the current pricing (for current customer), I was dubious but took it thanks, that was a better decision than expected at the time.

[@acameron7858]

My octopus bill has gone from £86 last year ,allowing for gov discount to £230 for a standard 3 bed house . Unreal

[@cps67]

I've seen 'Utilita Energy' are offering no standing charges but (...and its a big baboon butt...), Rate 1 for electric is 89.340 p/kWh for the first 1kWh then it moves to Rate 2 at 28.260 p/kWh. Rate 1 for gas is 42.156 p/kWh (for the first 1kWh), Rate 2 is 7.176 p/kWh. Everything resets at midnight each day. Is there anyone reading this using this company? If so are you saving money per month or is it roughly the same? I can only see savings if there are days when I don't use any energy . . . which is never.

[@giggabyte6413]

I use a pay as you go meter , I'm a single guy and full time carer, I have very little, I used to be able to use only 10 pounds every two weeks for electricity, today I'm paying 30 pounds a week, when does this end? What help is there coming? IV had to cut out so much in my life alrdy.

[@lauraalleguen6685]

Have you tried 🐙 Octopus Energy - a friend lives in a quite spacious 2 - bed terraced property and a couple NOT putting radiators on and not showering too much - having a electric blanket - hot water bottle 🍾 & using air fryer for cooking - not having the house lit up like Blackpool tower ect - well their electric-Gas bill for a month (including standing charges) was £78.00...which is not bad at all...They also which uses a lot more money 💷 is turn down the hot water 💦 temperature- still hot enough to shower 🚿 ect but if your struggling (like we all are) hope these tips help.. the hot water especially - by turning boiler down - 👇 their October/November bill was actually cheaper then their summer energy bill.....

[@fatwalletboy2]

We are just being treated as cash cows....honestly I dont know how some are surviving with bills the way they are.......

[@cassohanlon9834]

Thank you so much for breaking it all down and for all you do. This is so clear and to the point. I love your podcast too! Your awesome wordplay, vivid imagery and badinage are helping the Great British Public make sense of these bafflingly terrifying times. 😊 ( P.S: I will go to my grave laughing at your interpretation of the phrase ‘fiscal drag’ and…yes! That cheekbone structure wound make him look a real poppet in rouge!) 💃💄💋😊

[@Lee33006]

Excellent thank you Martin!

[@hiramabiff225]

We should all crash at Jeremy Hunts house this winter, I doubt he'll have his heating turned off. They give with one hand and take with the other.

[@barrygentry5364]

Why is gas going up? I use butane gas in Spain and the price has been reducing over the last several months and a 12.5kg butane refill, 2 days ago, cost me just over €35 FOR TWO REFILLS. I saw a company in the UK offering a 12kg (smaller) butane refill for £35 FOR ONE REFILL, double the price in Spain. WHY???

[@hopandskip]

Bandits

[@AllensTrains]

There has to be a standing charge because it is the responsibility of the electricity company to repair wires that blow down in a storm. This is more of an issue in rural areas. I don't see how you can get rid of the standing charge, because the men who dig up the road and climb poles have got to be paid!

[@johntthomson7538]

Hunt failed to mension this rise in his autumn statement.

[@cleopatra5682]

Why do we have to pay so called energy suppliers such as EDF, Scottish Power, etc when they don’t supply electricity? The National grid does! Surely we can get our own metres & buy direct from the national grid & if not why not?

[@Azureecosse]

@Martin Lewis How about pushing for a national standing charge Martin the disparity in price between Scotland England and Wales is massive, someone in London will likely pay 30p less per day than someone in Scotland or Wales, SCs currently here in Scotland are over 63p per day for Electricity where as in London 30/33p per day how is that fair when Scotland has lower C02 levels same with Wales. Its a complete mess and nobody tackles this the quango Ofgem just do what they are told by the government. Its a postcode lottery system in place and the Government are laughing down their sleeves that they can get away with this injustice. These figure are based on Octopus Energy

[@billienomates1606]

Also the average price for the National Grid over the last year to generate one kWh of electricity was 9.79p. My average over the last year to buy 1 kWh of electricity from Octopus energy was over 30p!!!!!!

[@thisnthat42]

Why is it that they say they need to put the prices up in January but they predict they will go down in March? Is it just because the price of wholesale goes up as demand increases in the winter? I can’t help feeling like it’s a con when they’ll announce record profits in April.

[@ReedoTV]

I'm so happy that my 100% renewable tarrif is priced based on oil

[@jjefferyworboys8138]

Which has risen significantly since the summer, although its marginally less now.

[@RosieHarp]

Octopus rates came down on 01 October 2023. What tf is going on?

[@lc4393]

Thanks Martin.

[@dianebaker5243]

Thank you

[@lauraalleguen6685]

Also Guys to help ( i know its difficult with children & babies 🤱) - is turn the boiler down 👇 hot or very hot water and radiators gobble up a huge amount of money......Keep the water hot enough to shower 🚿 - use electric throws watching TV - use a air fryer - use a hot water 💦 bottle in bed or electric blanket....and dont put to many lights on - of the house opposite has their outside front light on or your under a street light - you dont need your's on... these little changes (with Octopus) can save you giving them £80 - inst of £100/£130.....hope this helps......

[@nicholastodd4626]

Very useful, I’m on Eon Next and I’ve just switched! Thanks Martin. 👍

[@smidgelette]

Well this is just depressing. When are any of us going to be cut a break? Give with one hand and take with the other. It’s going to be a bloody cold winter in my home.

[@Dynasty1818]

"Give with one hand take with the other" are you seriously suggesting the government control global energy prices? Are you REALLY that naive?

[@citizen3000]

They didn’t give anything though. The tax cuts will result in cuts to the public services you use.

[@Holycurative9610]

Mine too and I'm in a house with storage heaters that cost about £12/day to run. I'm installing solar for daytime use but the heating is on E7 so no sunshine then. I've even moved upstairs for the Winter and am sleeping downstairs so I don't have to heat downstairs (stays at 15ish C) and upstairs stays at 18-20C with minimal use of a small electric fire that costs about 20p/hr to run although that's only on for a couple of hours a day. I could afford to pay but refuse to pay more than £100/month for electric, I'm on about £95/month at the minute in a small 2 bed end semi and my electric company seem to think I should pay more despite the smart meter saying to the penny what electric I use..

[@SlickStitch]

Strange the prices rise in winter when everyone will be in to use it...

[@craphead9842]

Never pay by DD wait until you get your bill, don't give them anything upfront.... Tony cuenca

[@tormentedsoul906]

I’m paying £45pm electric at the moment, I don’t have gas. I’ve cut my useage right back but will be using around £60pm when it gets freezing. I’m happy with what I pay, its British Gas 👍

[@PhreddCrintt]

Thank you Martin. Again.

[@elslopez]

Thanks Martin I always like to see your take on various costs. However the wholesale cost of energy appears to be the lowest it has been for some time now, in many cases single digit figures for electricity... Firms like Octopus will sell to consumers at £0.075 per kWh, albeit for a 6 hour window, but it is a start. So is there something I am missing here... costs are DOWN... but the price cap is RISING? Anyone?

[@Obez45]

Yeah me too, so confusing, not forgetting that energy companies are still also making record profits. The tory party need to F off ASAP - bloody corruption in broad day light. It feels like their only job is to find ways to screw us over.

[@JudeTheYoutubePoopersubscribe]

They give those rates exclusively to EV owners, in the middle of the night when demand is basically non existent and often too much electricity is being generated so they sell it at 7p/kWh so it gets used in the first place.

[@Codzilla71]

Invest in wool! 😊

[@Mr_Fahrenheit]

Two words, Corporate greed.

[@anjkovo2138]

😢😢 A Pot Noodle & a Mars Bar for Xmas Dinner again. I DESPAIR

[@sianscountrylife4925]

We left British Gas in December 2023 . We discovered that for the previous 3 years our gas meter had been broken , and that British Gas had been estimating all of our bills and under charging us on our gas . They were also over charging us on our electric despite having a working electricity smart meter that sent regular readings , we ended up still needing to pay several hundred pounds extra . The customer service was dreadful , despite my husband being on the priority register. No reasonable adjustments were made to accommodate his needs . We complained to the energy ombudsman who found in our favour . It turned out that we were due a backbilling review as companies are not allowed to charge for estimated energy usage for any more than 12 months ... Despite the resolution being agreed to British Gas still tried to wriggle out of paying us and we are still awaiting payment . I'm considering approaching the Equalities Commission regarding our treatment ....

[@stevesretroloft]

I was going to fix with octopus, but although the rise is an annoyance it's meant to drop in March so confused if I should bother. In terms of money, due to the help last year (and over paying) I have around £1200 in my account so I should be fine.

[@mariavassallo1260]

This is criminal what they are doing and getting away

[@Obez45]

it's because the tory goblins are allowing them to get away with it

[@fab208athome]

Energy firms are being run like airlines now - jack up the prices during busy periods.

[@Whoop0]

Octopus Tracker is the way, currently paying 18-20p/kwh.

[@ohyesitsme]

I'm with Eon-next and my standing charge is 61.82 p/day for electric and 29.11 p/day for gas. My unit price is 28.26 p/kWh for Electric and 6.93 p/kWh for gas.

[@gingerninja7187]

Just as it starts getting colder the price increase for electricity, and especially gas , the price increase is just another nail in the coffin, it’s all becoming a big joke , these companies are making huge profits, so why the extra costs , what’s the point of price caps , when they can just be changed ,with a click of a finger 🙈

[@testpilotian3188]

So they realised last year £2k was a rough figure people would accept so they’ve decided to keep it around that, absolute rip off this country.

[@Dynasty1818]

Your cynicism is palpable.

[@jjefferyworboys8138]

You do have several alternatives which I will let you work out.

[@billienomates1606]

This week 30/12/23 National grid live cost per kWh to generate 3.627p. Yes 3p. Past day just under 7p, past year 9.6p, all time history average 6.7p. All data taken from their own web site. I am currently paying 28p a kWh focking disgusting.

[@trevorflarty1811]

Seems to me that off gem are a bloody waste of time!

[@izzytrue8630]

no it's NOT up to me to chase these energy providers ... they have a duty to me!!! Bring on the day we can get our energy from sun and wind!!!

[@anthonysutherland4041]

this is the type of stuff that should be thought in school

[@seeseeteevee]

Thanks for that Martin but can anyone explain this .. The price today of wholesale gas on the market is US$ 2.776 per Million BTUs (less than US$0.01 / kWh) , that is LOWER than the prices since 2000 apart from a few brief dips in 2001/02, 2012, 2015/16 and 2019/20 (Covid), so why is the retail UK gas price the highest at £0.06 / kWh? Additionally the electricity price per half hour is set by the most expensive type of generator (gas) that meets demand rather than a weighted energy average of all the generators that meet demand. British consumer are being ripped off big time!!!

[@Theantitotalitarianmovement]

Theft isnt it a kind of terrorism

[@olivergodfrey]

Thanks Martin!

[@AdrianJohnson16]

I'm with E.on and on the Next Flex tariff, have looked to see if I can switch but can't see the discounted one based on percentage. The only discounted one I can see is the Next Pledge Tracker 12m V2 which offers £50 off (£25 per fuel). Is that the one that is mentioned?

[@tristandrew5903]

I'm always thinking steps ahead. The next thing that'll come guys is council tax hikes in March. Expect 10% and if you're with Severn trent, similar with water early next year. All the benefit from the NI cut (35 quid a month for average wage) will be entirely offset by the energy and council hikes! As always.

[@UpsideDownFork]

So glad someone gave that man a microphone!

[@ghengis430]

I thought it a great idea not to put the heating on last year, and when i wasn't moving about, in bed. The house is old though, and it's gone a little mouldy in the corners, so I've little choice. A good blast with the electric heater and humidifier when the solar panels are working eases that worry. God, i despise the govt.

[@jamiesworld1690]

Is there anyway of getting it low or ways of getting chePer or getting these ratws down plus though the autumn statement meabs we get cheaper electricity

[@acolli777]

Can you get the cheaper direct debit tariffs if you pay your quarterly bill by direct debit or does it have to be done as fixed amount monthly?

[@stephenpeat3885]

Why the Government increase gas storage with 6 month gas storage would have reduced prices to £1700 instead of £1900+. The government should used the autumn statement to build gas storage on top of insulation to reduce energy usage.

[@suewright1299]

Many thanks indeed Martin, though I can tell you’re furious at today’s announcement and why not. It’s nothing short of a disgrace with the way we’re all being treated. Thanks so very much indeed for for-warning us yesterday. Very many thanks indeed for all your help and for always being with us all!! You’re an absolute gem 💎

[@SimonPlatten]

That absolutely sucks, rip of Britain! Recently got a quote for Solar Panels to be installed in the UK, then went to China....UK price £50K for 30KW of Panels, with battery and inverter, same system from China £10K and that includes importing them.

[@johnbellamy6449]

would never buy chinese .

[@SimonPlatten]

@johnbellamy6449, where do you think the UK suppliers get they're panels from?

[@johnbellamy6449]

we have rwo meters ,one in house one in outbuilding ,garage ,and logstore for electric . no mains gas so also have a quarterly gas tank standing charge .