At the moment, we are on a fixed rate tariff with our energy supplier which is working out exceedingly well and we are bang on budget.
This is due to expire at the end of October and unless we arrange otherwise, we will be put on their standard variable tariff. This is actually one of the most expensive in the country, so you can imagine I do not want that to happen!
I had an email requesting meter readings today, and decided to phone the company as it’s ‘their 10p’ regardless of how long I’m on hold as it’s an 0800 number and thus free.
After the initial tedious jargon, I was put through to an operative in a couple of minutes.
I gave her my readings, then asked about alternative tariffs.
Apparently they cannot give us details until nearer the time that our existing one expires which is fair enough, so I’ve made a note on the wall calendar to ring them at the beginning of October.
In the meantime, Hubby has been looking things up and I’ve been calculating.
On our present readings, we are well on target and will have a substantial lump in the kitty going into the winter months. I usually allow a 10% increase in the budget, but out of curiosity, I ran the readings with a potential new fixed rate tariff.
The gas price per Kwh is currently 3.706p with a standing charge of 14.4p per day.
The potential gas price is 4.17375p per Kwh with a standing charge of 14.637p per day, so I’m quite happy with that as the increase is reasonable.
Not so with electric.
Currently we are paying 13.48p per Kwh with a daily standing charge of 15.19p.
On the same tariff, this goes up to 17.682p per Kwh and 15.8235p standing charge.
That’s way more than 10% for each unit used and a little worrying, though I am aware that prices have increased significantly over the past eighteen months or so, and our rate was fixed two years ago.
Running the numbers on the readings just submitted on the new tariff, there’s a difference of some £17 over 103 days. Our electric is pretty stable at around 22 Kwh per week, but our gas is minimal now because of the time of year and in the winter we can use up to 30Kwh a week to keep cosy at 18º.
I’d already decided to increase our monthly payment to cover the hike, but I’m wondering if what I’d intended will be enough. The figures look good at the moment, but we shall see what’s available, and for how long, nearer the time.
Watch this space……………….