Energy Prices

[Resolvenjack]

Was with Neon Reef last year on a fixed rate of 13.84p per kwh & 12.99p per day standing charge. Consequently because of the huge rise in energy prices late last year they couldn't continue to provide at that price & went bust in November.

I was automatically transferred to British Gas by Ofgem & the rate offered was 21.18p per kwh & 24.867p per day standing charge which wasn't great but acceptable at the time.

Have just checked my tariff info in app & it has been updated to the new rates effective 1st April when the price cap raises & it has been increased to 28.29p per kwh & 48.15p per day standing charge.

So our standing charge has gone up from £47.42 pa to £175.75 pa within the space of 4 months or so & the cost of electricity has risen from £401.36 pa to £820.41 pa based on our average usage of 2900 kwh. We live in a small 1 bedroom flat.

Can't imagine what the cost for a larger property will be especially homes with young children & the elderly in them. We are fortunate that there is only the two of us here.

 

[BLAZE]

Similar happened here in that I was with a small company that went bust and was automatically transferred to EDF

I don't like variable rates so the first thing I done was commit to a fixed rate with them. Normally you pay a premium for that but it's actually worked in my favour this time as just after fixing the variable rates exploded. Assuming the prices have fallen again by the time my fixed rate ends, I may have have unknowingly dodged a bullet