Yep, right now, the three months from July will be the cheapest we’re gonna have it for at least the next year. Unless something changes. Otherwise they’ll be continuing to creep up slightly for the foreseeable future.
I’ve got my own spreadsheet which pulls in this data to try to collate where my direct debit is looking to be for the next 12 months.
My direct debit will drop by about 15% in July.
From October it will increase by 5%. That’s 12% lower than my current price guarantee direct debit (£2500 faux cap).
Then from January I’m expecting it to go up another 3%. 8.5% cheaper. than my direct debit under the current price cap.
BUT! Last winter we all got a monthly £66/67 off our direct debits. Which means my winter direct debit was less than it will still be in July. So although the price will be cheaper than it was for the last 3 months, it’s still more expensive than it was in winter and will keep going up.
To put a percentage on it, my bills this winter are looking to be 22.5% higher this winter than they were last winter.
To bring it back around and balance things out in the spirit of fairness though, my bills over the last 3 months were 35% higher than during winter as well, so it’s trending the right way, there’s just less or no support to offset it, so it feels worse.
Come August our 3 year fixed pricing ends and we will have a shock. It’s so low still compared to others that we amassed credit each month we got the £67 and still haven’t paid for electric since then. Think this month is the last we will have credit on but it’s a good half year since I’ve paid electric.
Just back on energy prices, if any of you are on fixes that are more expensive than the incoming 1st July price cap that were previously being reduced to match the price of the energy price guarantee, it’s worth taking a look at your tariff and seeing if you can end your fix early.
My British Gas tariff had a £100 per fuel exit fee, but they let you move between tariffs for free, so I’ve moved myself back onto the standard variable rate so I’ll be paying the capped rate from July.
It’s looking like octopus tracker is the best deal at the moment… if you can get on it. Cirrently 16.5p/kwh which is pretty much around the prices before all this price hiking started.
Whoever created it must have searched for Liz Truss, then updated the search field.