Energy costs. Oh dear.......

[mutantpoodle]

qq If no one was to pay more than £2500 uq

nobody anywhere has ever said that

(well nobody who has understanding of announcements and thinks about it/them)

[AF62]

The new capped unit rates have been published -

https://www.gov.uk/government/publicati ... vNCZc80-cg

Standing charges
Average standing charges will remain in line with the levels set by Ofgem for the default tariff cap from 1 October, at 46p per day for electricity and 28p per day for gas, for a typical dual fuel customer paying by direct debit.

If you’re on a standard variable tariff
The average unit price for dual fuel customers paying by direct debit will be limited to 34.0p/kWh for electricity and 10.3p/kWh for gas, inclusive of VAT, from 1 October.

These unit prices have been passed to suppliers to ensure that they are used to calculate bills on time for 1 October.

Energy suppliers will adjust standard variable tariffs automatically. Customers on standard variable tariffs do not need to take any action to get the benefits of this scheme.

However the section about those on fixed tariffs seems oddly worded and is generating debate elsewhere so I expect will need clarification -

If you’re on a fixed tariff
If you’re on a fixed tariff at a higher rate caused by recent energy price rises, your unit prices will be reduced by 17p/kWh for electricity and 4.2p/kWh for gas.

These unit prices have been passed to suppliers to ensure that they are used to calculate bills on time for 1 October.

Energy suppliers will adjust fixed tariffs automatically. Customers on fixed tariffs do not need to take any action to get the benefits of this scheme.

[daveh]

Interesting. So taking those figures for standing charge and unit charge for electricity. I calculate I will be paying 182.50pa standing charge, and 714.00pa for units used. This works out at approx. 75 pounds per month direct debit. My present direct debit is 82 pounds per month. I had an email last month that OVO want to increase my direct debit to 120 pounds per month, which I ignored. Wonder if I will get an email saying they want to reduce my direct debit to 75quid? Bet I don't. Should also get reduced direct debits for the 4 months from October due to the 400 pound reduction too.

[Mike4]

No announcement for business users? Or is it the same but limited to six months as the news was forecasting just before Her Majesty died?

Small business owners are climbing the wall from uncertainty, not knowing whether to close their business down or stock up for Christmas. If the £4 per day standing charge plus £1 a unit their suppliers have been telling them, the decision needs to be "close down" for most, apparently.

[88V8]

Hope the govt haven't forgotten us E7 country dwellers.

V8

[Dod101]

The new capped unit rates have been published -

https://www.gov.uk/government/publicati ... vNCZc80-cg

Standing charges
Average standing charges will remain in line with the levels set by Ofgem for the default tariff cap from 1 October, at 46p per day for electricity and 28p per day for gas, for a typical dual fuel customer paying by direct debit.

If you’re on a standard variable tariff
The average unit price for dual fuel customers paying by direct debit will be limited to 34.0p/kWh for electricity and 10.3p/kWh for gas, inclusive of VAT, from 1 October.

These unit prices have been passed to suppliers to ensure that they are used to calculate bills on time for 1 October.

Energy suppliers will adjust standard variable tariffs automatically. Customers on standard variable tariffs do not need to take any action to get the benefits of this scheme.

However the section about those on fixed tariffs seems oddly worded and is generating debate elsewhere so I expect will need clarification -

If you’re on a fixed tariff
If you’re on a fixed tariff at a higher rate caused by recent energy price rises, your unit prices will be reduced by 17p/kWh for electricity and 4.2p/kWh for gas.

These unit prices have been passed to suppliers to ensure that they are used to calculate bills on time for 1 October.

Energy suppliers will adjust fixed tariffs automatically. Customers on fixed tariffs do not need to take any action to get the benefits of this scheme.

This is still far from comprehensive. The average unit price. What does that mean? And anyway they are only quoting dual fuel customers. There are many (including me) who are not on a dual fuel supply. I disagree that the new capped unit rates have been published and instead we have yet more 'average' rates.

Dod

[AF62]

The new capped unit rates have been published -

https://www.gov.uk/government/publicati ... vNCZc80-cg

Standing charges
Average standing charges will remain in line with the levels set by Ofgem for the default tariff cap from 1 October, at 46p per day for electricity and 28p per day for gas, for a typical dual fuel customer paying by direct debit.

If you’re on a standard variable tariff
The average unit price for dual fuel customers paying by direct debit will be limited to 34.0p/kWh for electricity and 10.3p/kWh for gas, inclusive of VAT, from 1 October.

These unit prices have been passed to suppliers to ensure that they are used to calculate bills on time for 1 October.

Energy suppliers will adjust standard variable tariffs automatically. Customers on standard variable tariffs do not need to take any action to get the benefits of this scheme.

However the section about those on fixed tariffs seems oddly worded and is generating debate elsewhere so I expect will need clarification -

If you’re on a fixed tariff
If you’re on a fixed tariff at a higher rate caused by recent energy price rises, your unit prices will be reduced by 17p/kWh for electricity and 4.2p/kWh for gas.

These unit prices have been passed to suppliers to ensure that they are used to calculate bills on time for 1 October.

Energy suppliers will adjust fixed tariffs automatically. Customers on fixed tariffs do not need to take any action to get the benefits of this scheme.

This is still far from comprehensive. The average unit price. What does that mean? And anyway they are only quoting dual fuel customers. There are many (including me) who are not on a dual fuel supply. I disagree that the new capped unit rates have been published and instead we have yet more 'average' rates.

Dod

Rates which cover the vast majority.

[mutantpoodle]

AF62 wrote

''Rates which cover the vast majority''.

our governments have not been interested in the 'vast majority' (apart from at election time) for the last 15 years if not longer

minority interests now get all the attention and supports

[Dod101]

AF62 wrote

''Rates which cover the vast majority''.

our governments have not been interested in the 'vast majority' (apart from at election time) for the last 15 years if not longer

minority interests now get all the attention and supports

But with respect this thread is not about politics. It is about trying to establish what the actual costs are to be for gas and for electricity under the plans announced last week. I do not think we have that, at least not from what appears to have been published so far.

This thread is posted on LBYM.

Dod

[richlist]

It also doesn't cover those on economy 7 tariff. I'm currently paying 32p day & 20p night per unit. I expect Octopus will write to me shortly with the details of the increase.

[BullDog]

It also doesn't cover those on economy 7 tariff. I'm currently paying 32p day & 20p night per unit. I expect Octopus will write to me shortly with the details of the increase.

Likewise the EV tariffs. Ours is 7p in the night for four hours and 42p in the day. From what I can see, 42p is above the 1st October tariff cap. It seems our electric tariff should come down from October 1st?

That will be more than off set by our gas tariff because the capped tariff is about 30% above what we presently have. So I expect our electric come down a bit but our gas to go up again significantly on 1st October. Our gas tariff effectively quadruples compared to a few weeks ago.

[scotview]

Likewise the EV tariffs.

I've asked Octopus about moving from Scottish Power to their EV tariff and was strongly advised to stick to the Scottish Power default tariff I am on.

Seems to me that the entire energy market has locked up, does anyone else got this impression ?

[swill453]

Seems to me that the entire energy market has locked up, does anyone else got this impression ?

Given that we now know (or will imminently) exactly what we'll pay for gas and electricity for the next two years, the wholesale price of gas and the state of the Russian pipelines will only be of passing academic interest.

We could put half of Ofgem on sabbatical too.

Scott.

[pje16]

Given that we now know (or will imminently) exactly what we'll pay for gas and electricity for the next two years
Scott.

I was hoping to find out from my supplier Shell, just had a look on their site, and there is no clue as to what the rates will be
I would have thought they would have had rates sorted out by now

[swill453]

Given that we now know (or will imminently) exactly what we'll pay for gas and electricity for the next two years
Scott.

I was hoping to find out from my supplier Shell, just had a look on their site, and there is no clue as to what the rates will be
I would have thought they would have had rates sorted out by now

The first indication of the actual regional rates I got from Moneysavingexpert last time. Don't think it's there yet though.

Scott.

[monabri]

It also doesn't cover those on economy 7 tariff. I'm currently paying 32p day & 20p night per unit. I expect Octopus will write to me shortly with the details of the increase.

I'm glad you highlighted the fact that Octopus offers a dual rate. I was moved to British Gas from Together Energy and they have been pretty rubbish to the extent that I have just written to them with a formal complaint (after waiting 8 weeks from the initial email complaint with 5 other emails/calls to help line in between). BG have been billing me at a single rate even though they ask me to enter the meter rdg for the day and night meter.

[BullDog]

Likewise the EV tariffs.

I've asked Octopus about moving from Scottish Power to their EV tariff and was strongly advised to stick to the Scottish Power default tariff I am on.

Seems to me that the entire energy market has locked up, does anyone else got this impression ?

Correct. We were only allowed a move because we were an ex customer and the account was still active on their system. The whole energy market and energy policy of the country has been a dysfunctional train wreck for many years. Ukraine just crystallised what was going to happen one day. If was inevitable.

[pje16]

I was hoping to find out from my supplier Shell, just had a look on their site, and there is no clue as to what the rates will be
I would have thought they would have had rates sorted out by now

The first indication of the actual regional rates I got from Moneysavingexpert last time. Don't think it's there yet though.

Scott.

With my cynical hat on, are the big 6 waiting to see what they can find out about the other 5s charges or will they all be similar
(I do realise they can't ALL do that)

[swill453]

With my cynical hat on, are the big 6 waiting to see what they can find out about the other 5s charges or will they all be similar
(I do realise they can't ALL do that)

I don't think there's any need for cynicism in this instance. It's Ofgem that sets the regional capped rates.

(Taking the government's price guarantee into account of course.)

The big 6 and all the others have no say.

Scott.

[pje16]

With my cynical hat on, are the big 6 waiting to see what they can find out about the other 5s charges or will they all be similar
(I do realise they can't ALL do that)

I don't think there's any need for cynicism in this instance. It's Ofgem that sets the regional capped rates.
Scott.

While that may be the case, why do they all have dozens of different tariffs?