Electricity Renewal

[simon field]

Greetings

Currently being offered 27.8p / day per kw/h plus a 30p / day standing charge, for two years.

This is way less than half our current cost.

I’m sure I read recently that it’s not a good time to lock into a contract - does anyone know if that’s still the case?

Are we likely to see further reductions?

Thanks for reading ?

 

[Clodbuster]

That is good, I'm at .29/kw and .41/day. The question I guess is if it goes down further - but it could go up - typical investing guess.

 

[hikiwari]

@simon field @Clodbuster
Can you both give us an annual usage total to give context?
Also, who the provider is?
Thanks.

 

[simon field]

Annual usage is around 10,500 kw

Provider is EDF

 

[Clodbuster]

4500 Kw OutFox the Market. Pretty low but I do have panels, wind turbine and batteries.

 

[NickGrogan]

Location is the biggest driver, you're both low consumption and seem to be on single rate meters, based on what you've said.

DM me postcodes and I'll send you a range of suppliers prices.

 

[SillyBill]

I got c. 22.5p p kwh for 2 years about a month ago, starting in March 24. I snapped it up as was a few pence cheaper than everyone else. Currently paying just shy of 60p kwh. Use 20-25k kwh per month so absolutely massive difference. Still double what we were paying at start of this year though as our last contract ended. A relief to see this bill go down. Will start building out solar in the new year to try and claw back to nearer where our old bill was...

 

[pentel]

I got c. 22.5p p kwh for 2 years about a month ago, starting in March 24.

Could you share who this was with please?

 

[Stephen Ball]

I got c. 22.5p p kwh for 2 years about a month ago, starting in March 24. I snapped it up as was a few pence cheaper than everyone else. Currently paying just shy of 60p kwh. Use 20-25k kwh per month so absolutely massive difference. Still double what we were paying at start of this year though as our last contract ended. A relief to see this bill go down. Will start building out solar in the new year to try and claw back to nearer where our old bill was...

You might be looking at a little less than 22.5p now for a large contract like yours starting in March 24 and 2 years in duration, but of course compared to the 60p current rate we can't blame you for snapping that up and securing the savings. Well done ?

 

[SolarPro]

I got c. 22.5p p kwh for 2 years about a month ago, starting in March 24. I snapped it up as was a few pence cheaper than everyone else. Currently paying just shy of 60p kwh. Use 20-25k kwh per month so absolutely massive difference. Still double what we were paying at start of this year though as our last contract ended. A relief to see this bill go down. Will start building out solar in the new year to try and claw back to nearer where our old bill was...

Hey Bill,

I have seen this all too often and would recommend looking at solar. There are even companies out there now that fully fund the install and maintenance for you and sell you back the energy at a hige discount via something called a power purchase agreement or PPA.

Best,

SP