The thread all about energy prices…

Renewal is due soon… quite the increase

Will Ferrell Blank Stare GIF

… we made the mistake of going onto Bulb, should have taken a one year or so lock instead…

I need to do a comparison myself soon.

The market is insane at the moment, every day tariffs seem to be getting pulled and more expensive ones taking their place.

https://electricinsights.co.uk/ is interesting to keep an eye on, the wholesale costs for electricity at some times of day are eye-watering.

My tariff from Pure Planet is coming to an end, I’ve had to switch away as their 12 month fix has a unit rate of just over 6p! My current tariff is 2.5p!

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When I moved to our current house i signed up with Co-op who where then bought by Octopus

Not the best prices but can’t find any tariffs that are close to what I pay now

Need to hope it doesn’t change to drastically at the end of the fixed term

Yeah you’ll have no chance of getting close to that now - most tariffs available today seem to be >18pKWh for electricity, >3.9pKWh for gas, at least where I am…

I find Bulb’s price watch blog posts very insightful. I love the data they present and how they show it too. It’s part of why I stick with them, even through the increases. Another being they remain one of the cheapest, even compared to fixed tariffs. But I’ve been with them long enough, back when the marker wasn’t constantly increasing, to know they do decrease their prices too when they come down, and I like that.

I could take a risk and lock in a little higher with a fixed tariff, banking on prices going up, but we’re talking savings of pennies rather than pounds, if I’m lucky.

I’ve considered switching to Octopus a few times, but honestly, there’s little incentive for me yet. I’m satisfied with bulb, and would rather not mess with things. Octopus only works better for me, in theory, when I’m eligible for a smart meter.

Unfortunately the Bulb increase that comes in to effect on 1st October essentially puts their prices at the price cap, so they’re not cheap any more.

Having said that, none of the default tariffs seem to be below the cap - I gather the wholesale rates at the moment are quite often above what they can charge with the cap, so it’s a tough time to be an energy supplier - especially for those with only one tariff.

I was with bulb for a time and found them very good at the beginning, particularly with making sure their prices stuck to the wholesale market both up and down - but I left them when they started to drag their feet with downward movement but being quick to put prices up.

I’ve not shopped around for a while, good to know.

Bulb is quite the jump from where I am now

Could be different in your area!

MSE’s energy club is a great tool for keeping on top of these things!

https://clubs.moneysavingexpert.com/cheapenergyclub

For me, only one tariff on the market is cheaper, and only by £32 per year. But it’s not renewable electricity, which matters more to me than a saving of £32 does.

I’m with Octopus, pretty happy with them, bit of an increase (38.99) to fix.

If I went with their Agile tariff it would be £12 increase, but I’d prefer to fix :joy:

Bear in mind that the cheap energy club is showing you the current Bulb prices, not the ones that will be coming in on the 1st October.

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Yep, but it’s the same will all suppliers. And prices are rising across the board! If a more substantial saving pops up, I’ll reconsider. Credit Club send out emails whenever there is a tariff more than £100 per year cheaper. Haven’t had one of those in years though.

My advice would be to take the cheapest fix that doesn’t have an exit fee if you’re on a variable at the moment.

You’ll hopefully take some of the sting out of the Oct price rises (though it’s rapidly becoming too late for that as suppliers pull tariffs), and be free to move to a cheaper tariff if prices go down as quickly as they have gone up.

It depends on area so you’ll have to do your own comparison, but for me Sainsburys Energy currently has a year fix that has both cheaper standing charge & unit prices than the Bulb Oct prices with no exit fee - and will spare you the risk of further rises when the price cap is reviewed again in April.

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The bulb prices I showed are the new ones not the existing ones.

Am in same boat as @Dieter with octopus

To fix or not to fix :thinking:

Yeah those are, cheap energy club is still showing the old ones - so unfortunately is making Bulb look cheaper than they are when people are doing comparisons.

It’s funny cause bulb never come up as a cheap one for me - ever :joy:

Am also currently looking for a new supplier.

It’s worth checking more than one comparison engine though. MSE don’t show every supplier in the market, despite their marketing.

As such, I usually also look at Citizens Advice and uSwitch among others.

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Wholesale electricity prices currently at £950/MWh - ouch.