My Energy Price Cap

[SteamyTea]

Well the letter arrived today.

Lots of different prices depending where you are in the UK and what sort of billing you have.

I have the most expensive billing, quarterly and I am in one of the poorest parts of the UK, so I pay more for my energy.

 

You all ready:

 

Daily charge: 59.10p/day

Day Units: 64.10p/kWh

Night Units: 33.99p/kWh.

 

If I had gas, with EDF, it would be 33.53p/day and 15.644p/kWh.

 

 

[Carrerahill]

Mine came in on Sunday:

 

[Carrerahill]

42 minutes ago, SteamyTea said:

Daily charge: 59.10p/day

Day Units: 64.10p/kWh

Night Units: 33.99p/kWh.

 

 

 

OUCH! 64p!

 

 

[Radian]

3 hours ago, SteamyTea said:

Night Units: 33.99p/kWh.

 

If I had gas, with EDF, it would be 33.53p/day and 15.644p/kWh.

 

So let me get this straight, you currently don't have dual fuel and are on a multi-rate plan? What would it be with your current supplier if you were on a single rate?

[SteamyTea]

3 minutes ago, Radian said:

What would it be with your current supplier if you were on a single rate

What I am going to look into.

At least I know my minute by minute usage.

(Actually about 6 times a minute usage)

[Radian]

1 minute ago, SteamyTea said:

What I am going to look into

I wish you luck - you'll probably need it just to get through to them on the phone. I was reading how energy suppliers were turning people away from switching citing supposed advice from ofgem that people should stay put while prices are volatile. When asked, ofgem denied handing out any such advice and instead said the suppliers would be in breach of their Supply Licence conditions if they did turn people away, however I can't find any reference for this particular condition.

[Kelvin]

2 minutes ago, Radian said:

I wish you luck - you'll probably need it just to get through to them on the phone. I was reading how energy suppliers were turning people away from switching citing supposed advice from ofgem that people should stay put while prices are volatile. When asked, ofgem denied handing out any such advice and instead said the suppliers would be in breach of their Supply Licence conditions if they did turn people away, however I can't find any reference for this particular condition.

The condition is in a much longer document on the Ofgem website. It’s been linked to on here before. There are some get out clauses in it of course. 

[Radian]

4 minutes ago, Kelvin said:

The condition is in a much longer document on the Ofgem website. It’s been linked to on here before. There are some get out clauses in it of course. 

Was it this one? But that was to do with refusing to supply a meter. Haven't got time to read it all now. Maybe later.

[Kelvin]

I’m pretty sure it covered this scenario too. 

[SteamyTea]

@Radian

Standard variable rate, on quarterly billing is:

Daily charge 59.03p/day, unit price 54.85p/kWh.

 

Currently using 1 kWh during the day and 2 at night.

 

E7

1 x 59.10p [daily charge] + 1 x 64.10p [day rate] + 2 x 33.99p [night rate] = 191.18p [201p with VAT]

 

Standard Rate

1 x 59.03p [daily charge] + 3 x 54.46p [energy charge] = 222.41p [234p with VAT]

 

 

For the winter I use around 13 kWh/day, spit 2 day rate and 11 night rate.

So

 

E7

1 x 59.10p [daily charge] + 2 x 64.10p [day rate] + 11 x 33.99p [night rate] = 561.19p [589p with VAT]

 

Standard Rate

1 x 59.03p [daily charge] + 13 x 54.46p [energy charge] = 767.01p [805p with VAT]

 

I just need to get my night usage down a bit, hopefully the secondary glazing and fixing the doors will help.

I could save a little by going to monthly direct debit, but as I never got my £90 bank charges back after a meter reading mistake, I am reluctant to do that, very reluctant as EDFs blamed the bank, the bank blamed EDF, I paid, but not the £2500 they initially wanted, or the £1999 they wanted 2 days later, or even the £999 they wanted 3 days after that.

I paid the £246 I owed and sucked the bank charges up.

 

[JohnMo]

Why aren't you getting the capped rate?  Which looks like your night rate, but all the time.

31 minutes ago, SteamyTea said:

Standard Rate

1 x 59.03p [daily charge] + 13 x 54.46p [energy charge]

 

[Radian]

3 minutes ago, JohnMo said:

Why aren't you getting the capped rate?  Which looks like your night rate, but all the time.

 

 

36 minutes ago, SteamyTea said:

I could save a little by going to monthly direct debit

 

Not paying by DD incurs a penalty.

Paying by DD incurs the energy companies taking the piss.

[SteamyTea]

8 minutes ago, JohnMo said:

Why aren't you getting the capped rate?  Which looks like your night rate, but all the time.

 

I am not sure.

Probably because it is not a capped rate as such, just an average household usage, which I think is something like 3.5 MWh/year electricity and 15MWh/year gas.  Those two should add up to £2500 (or whatever the numbers actually used are).

So while I will pay less than £2500 a year, because I am a low user ~3MWh/year this year) I get crucified on the standing charge, but the £400 grant and the £150 council tax rebate brings my unit rate down to the presently capped unit rate.

 

May put a meter reading in tomorrow, and add 2 MWh to it.

Edited September 28, 2022 by SteamyTea

[Nick Thomas]

I switched to a new energy company this week. They insisted on quoting the uncapped rates, but were clear that I would actually pay the capped rates.

 

It's a single-rate tariff but I assume the same will be true of multi-rate tariffs - after all the interventions, your blended rate will actually be ~33p rather than 50p or so.

 

Fingers crossed, anyway.

[Gone West]

19 hours ago, SteamyTea said:

Daily charge: 59.10p/day

Day Units: 64.10p/kWh

Night Units: 33.99p/kWh.

Is this for your own house? Seems very high compared to my new prices with SSE. Currently standing charge 51.62p, electricity 28.41p. From 1st October standing charge 52.64p, electricity 33.86p. I'm also in Cornwall on quarterly billing so there must be something wrong.

 

[SteamyTea]

2 minutes ago, Gone West said:

Is this for your own house

From the letter they sent.

 

 

[Gone West]

10 hours ago, Radian said:

Not paying by DD incurs a penalty.

Paying by DD incurs the energy companies taking the piss.

I stopped paying by monthly DD because they were messing me around so now pay quarterly by DD paying off the whole bill. I therefore don't lose the DD discount.

[Gone West]

7 minutes ago, SteamyTea said:

From the letter they sent.

I can't see anything on the Ofgem website switching page that indicates you can't switch supplier.

[SteamyTea]

1 minute ago, Gone West said:

I can't see anything on the Ofgem website switching page that indicates you can't switch supplier.

I am going to look into it later.

 

Whenever I have looked at changing in the past, the 'savings' were so minor (best was £9/year for a like for like), that I did not bother.

 

I just find it strange the way that the new tariffs are presented, looks to me like they can charge what they like, but once the £400 grant is deducted, it falls into line with the typical £2,500 a year.

[Gone West]

3 minutes ago, SteamyTea said:

I just find it strange the way that the new tariffs are presented, looks to me like they can charge what they like, but once the £400 grant is deducted, it falls into line with the typical £2,500 a year.

I find it strange as well. My prices don't include the £400, which is a six month, one off grant, and not connected to the price cap.

[SteamyTea]

1 minute ago, Gone West said:

I find it strange as well

EDF, probably because they are French, copy no one.

In the past they have had massive increases, then a week or two later, dropped the price, often lower than other.  Part of the reasons I have not changed.

At least being on a standard variable rate, any price decreases come though sooner (like a mortgage). 

[markc]

I’m with Octopus, variable but always stay in credit which keeps me on best pricing available and  I have never had any reason to complain. 

Edited September 29, 2022 by markc

[Ferdinand]

22 hours ago, SteamyTea said:

12 hours ago, SteamyTea said:

I am not sure.

Probably because it is not a capped rate as such, just an average household usage, which I think is something like 3.5 MWh/year electricity and 15MWh/year gas.  Those two should add up to £2500 (or whatever the numbers actually used are).

So while I will pay less than £2500 a year, because I am a low user ~3MWh/year this year) I get crucified on the standing charge, but the £400 grant and the £150 council tax rebate brings my unit rate down to the presently capped unit rate.

 

May put a meter reading in tomorrow, and add 2 MWh to it.

Well the letter arrived today.

Lots of different prices depending where you are in the UK and what sort of billing you have.

I have the most expensive billing, quarterly and I am in one of the poorest parts of the UK, so I pay more for my energy.

 

You all ready:

 

Daily charge: 59.10p/day

Day Units: 64.10p/kWh

Night Units: 33.99p/kWh.

 

If I had gas, with EDF, it would be 33.53p/day and 15.644p/kWh.

 

 

 

The "typical household" usage which is the number the lumpen-media usually quote is based on 12000 kWh of gas and 2900 kWh of electricity.

https://www.ukpower.co.uk/home_energy/average-household-gas-and-electricity-usage

 

There are slight changes recommended from a review some time ago, but they have not yet been implemented.

 

Not sure what game they are playing you quoting rates so far above the price cap.

 

  

2 hours ago, SteamyTea said:

I am going to look into it later.

 

Whenever I have looked at changing in the past, the 'savings' were so minor (best was £9/year for a like for like), that I did not bother.

 

I just find it strange the way that the new tariffs are presented, looks to me like they can charge what they like, but once the £400 grant is deducted, it falls into line with the typical £2,500 a year.

 

The £400 reduces a typical bill from £2500 to £2100 under the price cap.

 

Ferdinand

 

[Ferdinand]

2 hours ago, SteamyTea said:

I am going to look into it later.

 

Whenever I have looked at changing in the past, the 'savings' were so minor (best was £9/year for a like for like), that I did not bother.

 

I just find it strange the way that the new tariffs are presented, looks to me like they can charge what they like, but once the £400 grant is deducted, it falls into line with the typical £2,500 a year.

 

If you go to Octopussy, do let someone know and the £50 or £100 could be donated to BH, or spent on whiskey.

[NSS]

Email from Octopus last night confirms my expectation that we'll not benefit from the energy price guarantee as our average kWh rate (on Go) is below the capped rate.