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Where is the kWh price heading in 2022?


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54 minutes ago, SimonD said:

What are the bets that there are going to be some rather large unforeseen and unintended consequences as a result of the rapid knocking up of the rescue package?

Well I am already wondering if I should over report my usage.

I wish they would just send a cheque, then I could book a holiday to somewhere hot and sunny.

 

I am currently working on measures to reduce my usage, may have wasted 200 quid.

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29 minutes ago, Temp said:

 

So possibly bad luck those of us who filled up their tank recently 😞

Depends. If it’s a grant they everyone on oil will get it. If it’s a price cap then it’s likely it won’t be less than what you’ve paid. 

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One comment I heard is due to a certain prominent person reaching the end of her life yesterday, that  will likely clog the media for a good while, so the thinking is they won't announce the details of this package until nearer the time it comes into force, giving them a bit more time to refine the details and iron out some of the anomalies we have been discussing.

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2 hours ago, Temp said:

 

So possibly bad luck those of us who filled up their tank recently 😞

 

Maybe not.

 

Perhaps logic would say it will track where the per kWh October price cap would have been, plus a small percentage - to equal the £2500 typical bill minus £400 level (?) which seems to be the new price cap level.

 

It's a small minority, so perhaps it won't be price related.

 

Or maybe it will just be a grant on all new oil purchases (sorry) !

 

F

 

 

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25 minutes ago, MikeSharp01 said:

And what about those of us on LPG I wonder.

It’s even more complicated than that. What about folk that pay a combined amount for rent and utilities. Most student accommodation is organised like that and they already get stiffed from my son’s experience. Same with folk that live in caravan type parks etc. This isn’t an easy nut to crack. 

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45 minutes ago, Kelvin said:

It’s even more complicated than that. What about folk that pay a combined amount for rent and utilities. Most student accommodation is organised like that and they already get stiffed from my son’s experience. Same with folk that live in caravan type parks etc. This isn’t an easy nut to crack. 

Interesting that.  May be one of thee best lessons they learn at university.

Take control of your own actions and finances.

 

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Back to the title of the thread, seen this

 

Under the new government’s EPG scheme, which has frozen energy bills at £2,500, people in England, Scotland and Wales will pay an average 34p per kWh of electricity.

 

Similarly, people England, Scotland and Wales will be paying an average 10.3p per kWh for gas

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Meant to include the source of the prices

 

https://www.google.co.uk/amp/s/metro.co.uk/2022/09/10/energy-price-cap-how-much-is-electricity-and-gas-per-kwh-17342836/amp/

 

Also from Which?

If you pay by direct debit: Your rates will be an average of 34p per kWh for electricity with an average standing charge of 46p per day, and an average 10.3p per kWh for gas with an average standing charge of 28p per day. These rates will be slightly different depending on where you are in the country

 

 

 

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Latest information suggests that fixed deals on electricity can/will be affected by the government cap..... 

 

My guess is,  that if you fixed a higher rate, it may be reduced to the fixed rate for the length of the cap.  But that's just a guess.

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1 hour ago, Marvin said:

Latest information suggests that fixed deals on electricity can/will be affected by the government cap..... 

 

My guess is,  that if you fixed a higher rate, it may be reduced to the fixed rate for the length of the cap.  But that's just a guess.

 

Judging by R4 this morning, fixed rates will be capped to the pro-rata £2500 cap for 2 years.

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7 minutes ago, Ferdinand said:

 

Judging by R4 this morning, fixed rates will be capped to the pro-rata £2500 cap for 2 years.

I guess that means no more than 34p per kWh for electricity...?....

does that mean raising to 34p if below???

Edited by Marvin
further thought
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5 minutes ago, Marvin said:

I guess that means no more than 34p per kWh for electricity...?....

does that mean raising to 34p if below???

 

I don't know, but I'm getting the impression that LT has some competent back room staff who have been working on this for some time.

 

Also hearing interesting things about developing the relationship with the European Commission.

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Standing charges are staying at the old/new October rates.  The £2500 cap applies to the gas and electric kWh price not the standing charge.

 

The cap sounds great, but in reality there is still quite a hike in prices gas 7p to 10.5 a 50% increase. Electric about 26% increase.

 

Obviously making the numbers more favourable for a heat pump.

 

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Fixed for 2 years gives everyone a bit of certainty. But there still needs to be a national campaign drumming it into everyone that the energy you don’t waste is the cheapest energy of all. I even had my other half switching a light off behind me. First time in 10 years 😂 

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4 minutes ago, JohnMo said:

Obviously making the numbers more favourable for a heat pump

Good, speed up where we have to go.

5 minutes ago, JohnMo said:

quite a hike in prices gas 7p to 10.5 a 50% increase

Gas was stupidly cheap wasn't it.

Even at 10.5p/kWh it is cheap.

A little more than 100th of the minimum hourly wage.

Work for 60 seconds and you have paid for your morning shower.

 

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Just read this on Which?

 

If you’re on a fixed tariff that is at a higher rate caused by recent energy prices, the government has said that your unit prices will be reduced by 17p/kWh for electricity and 4.2p/kWh for gas. Energy suppliers will adjust fixed tariffs automatically, so you do not need to take any action to get the benefits of this scheme

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