Just Been Notified By OVO About Horrendous Gas And Electricity Price Increases!

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I am with Ovo for our Gas and Electricity and this evening I received the below e-mail from our supplier:

Your energy prices are changing from 1 April
Hi Kenneth

As you might have seen in the news, unfortunately the cost of wholesale energy has risen significantly over the past 6 months.

In light of this, Ofgem (the energy regulator) has raised the energy price cap. We'll be raising our prices for Simpler Energy, our variable plan, in line with it on 1 April.

By doing this, we’re able to carry on offering the kind of service you can rely on.



01/03/2022

If you stay on Simpler Energy after 1 April, these are your estimated costs:


If you pay by Direct Debit...
If you pay by On Demand...

Current Plan until 31 March
Future Plan from 1 April
Future Plan from 1 April
Tariff Name
Simpler Energy
Simpler Energy
Simpler Energy
Tariff type
Variable
Variable
Variable
Tariff Payment Method
Direct Debit
Direct Debit
On Demand
Electricity Est. Annual Cost*
£1222
£1702
£1805
Gas Estimated Annual Cost*
£534
£895
£955

Your projected yearly cost overall
£1755
£2597
£2759



As you can see our yearly Gas and Electricity bill is forecast by Ovo to go up from £1755 to £2597 if we continue to pay by Direct Debit.
So that is an £845 increase on our yearly bills.

So that is £70.42 a month increase which has left the overall bill at £216.42 a month!

HELP!

Can anyone please help out a Poor Pensioner! .

What am I gonna do?

And YOU to a greater or lesser extent by the way!

 

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I subscribe to The Money Saving Expert Martin Lewis website, and in there I thought the below is a very interesting article.

https://www.moneysavingexpert.com/n...gy--you-could-keep-today-s-cheaper-rates-for/

https://www.moneysavingexpert.com/l...m_campaign=nt-highlights&utm_content=2#energy

Many with older prepayment meters could potentially delay the upcoming price hikes and keep the cheaper rates under the current price cap for a little longer.
It's all about 'stockpiling' gas and electricity credit before the rates rise. Here's how it works...
will rise by 54%.

If you've a non-smart prepayment meter, the rates won't change until the first time you top up following a price change, so any credit you've added before then will be charged at the old rates.
If you have a smart prepayment meter, this won't work as these meters are updated remotely with the new rates on the day of a price change.

All you need to do is top up as much as you can afford to up to the limits of the meter before Friday 1 April, when prices will change for most, as the price cap (which standard prepayment tariffs must follow) will rise by 54%.
However, we appreciate this won't be for everyone as many are struggling right now and won't be able to afford anything.

There are no deals to switch to that are meaningfully cheaper than both the current cap and the cap from April, so this loophole is a way to delay the hikes.
See Martin’s energy bills crisis video briefing for his latest must-knows on the current market.

We double-checked with Ofgem, and the regulator confirmed this trick should work.

An Ofgem spokesperson told us: "Smart prepayment meters update prices automatically – so topping up in advance would not make a difference.
With non-smart prepayment meters, the price customers pay is fixed at the point they top-up.

"This means that any built up credit is spent based on the price of energy at which that credit was purchased.
So a price increase could temporarily be avoided by building up credit in advance, though this would also work the other way if the price went down.”


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This is occurring globally as the crunch is real

 

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Yes of course this is happening Globally to a greater or lesser extent Wyldwynd.
Still rather worrying though when our bills in the UK are going up by more that 54% with a lot more to come.
I am lucky with no worries about money, but many will have to choose between Heating or Eating I fear.
No matter what country one lives in.

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Looks like I'll have to eat a lot more to build up a large fat reserve then

 

Have you applied for Winter Fuel Payment or warm home scheme , I helped a lady fill in a form and she got £130 off her electric bill, you could give it a try, they can only say no.

 

Excellent and informative thread.
Well done. X

 

Good on you for pointing this out Nooka.
Yes we get the Winter Fuel Payment (£100 each so £200) and that helps of course.
BUT.
There is other state aid going such as Pension Credit and Council Tax Relief and stuff which we cannot claim.
We won’t get the new Council Tax grant of £150 either because we live in a band E.
Also.
Because my Wife and I worked all of our lives we are not entitled to claim Council Tax Relief amongst others.
Too much income coming in and too much in the bank, so hardly anything for us.

If I had been a lazy bastard all of my life and never hardly worked, we would be entitled to all kinds of goodies.

We even have to pay full price for dental care.
Last year we paid over £500 for fillings and stuff.
Benefit people pay nothing.

Makes my blood boil a bit that does!

 

Gal.X
I agree!

 

I thought you had already taken that route Vlad!

Just kidding’ Vlad.
Just kiddin’!

 

Rishi Sunak is a bum hole opening, and that’s being polite.

 

Nnnnnaaahhh.
I quite like him Nooka.
Anything and anyone has got to be better than any of the Labour lot!

 

Absolutely not !!! - The mere fact he's a paid up member of the scumbag 'nasty sleaze party' puts him beyond the pail !!!

But then Keir Starmer and his crowd of wishy, washy liberals are not that much better - we need someone who has spine and a dose of socialist zeal - someone like Jeremy Corbyn !!!

 

Corbyn is yesterdays Man Vlad.
Destined in history to be the worst leader Labour ever had.

 

You're not reading it too carefully Kenny, I said someone like Jeremy Corbyn !!! - someone with red blood in their veins, some guts and a great deal of socialist zeal. Perhaps someone from MOMENTUM !!!

 

Got my gas bill yesterday, I was prepared for it to be high but I can say it’s the first time in ages I have sworn so badly lol .