MSE News: Ofgem confirms levels for prepayment price cap ahead of April launch

Legacy_user
Legacy_user Posts: 0 Newbie
in Energy
The levels at which a temporary prepayment price cap have been set out by the energy regulator Ofgem...
Read the full story:
'Ofgem confirms levels for prepayment price cap ahead of April launch'
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  • matelodave
    matelodave Posts: 8,608 Forumite
    First Anniversary Name Dropper Photogenic First Post
    So can the rest of us expect a corresponding increase to pay for it ?
    Never under estimate the power of stupid people in large numbers
  • JoeCrystal
    JoeCrystal Posts: 3,013 Forumite
    Name Dropper First Anniversary First Post
    Well! Considering I just failed my credit check with British Gas and I am now stuck with prepaid meter, maybe that is a good thing. :) I believe I am on standard tariff so 24.77p per day standing charge and 4.13p per kWh. Just wondering if the cap is per kWh or the total charge which doesn't help me? :(
  • footyguy
    footyguy Posts: 4,157 Forumite
    Combo Breaker First Post
    edited 7 February 2017 at 1:50PM
    JoeCrystal wrote: »
    Well! Considering I just failed my credit check with British Gas and I am now stuck with prepaid meter, maybe that is a good thing. :) I believe I am on standard tariff so 24.77p per day standing charge and 4.13p per kWh. Just wondering if the cap is per kWh or the total charge which doesn't help me? :(

    Consult a comparison site to find the best deal for you

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  • System
    System Posts: 178,093 Community Admin
    Photogenic Name Dropper First Post
    edited 7 February 2017 at 7:27PM
    JoeCrystal wrote: »
    Well! Considering I just failed my credit check with British Gas and I am now stuck with prepaid meter, maybe that is a good thing. :) I believe I am on standard tariff so 24.77p per day standing charge and 4.13p per kWh. Just wondering if the cap is per kWh or the total charge which doesn't help me? :(
    BG standing charges are £1.82 a week for gas and electric so you are more or less correct. Its less than Scottish Powers 31p a day. The prepay standing charges are the same price as BG s credit meter customers.
    Poor old Doris and Joe on their standard variable tariff and a fear of the direct debit are now penalised and charged more than the long term doleys and one parent families. OFGEM say these OAPs are not tied to a SV tariff but Joe and Doris and Dorothy and Jim in the real world are actually tied. Nothing will tempt them to a d/d fixed deal. I ve tried many many times to convince them over the years especially when Sainsburys Energy were coming out with tremendous tariffs.. OFGEM stopped that too !
    Soon though, smart prepayment meters will get installed in much larger numbers and these meters will make anything possible including far cheaper tariffs due to much cheaper running costs than the prepays from the last century which are clearly not fit for purpose.
  • Wig
    Wig Posts: 14,139 Forumite
    Does anyone know what the propsed cap will be for Gas and Electric prepayment meters?

    A. My old browser restricts websites that are compatible.
    B. I can't find it on the websites I can read.

    Thanks
  • Wig
    Wig Posts: 14,139 Forumite
    Does anyone know what the proposed cap is for prepayment meters?
  • System
    System Posts: 178,093 Community Admin
    Photogenic Name Dropper First Post
    Wig wrote: »
    Does anyone know what the proposed cap is for prepayment meters?

    Source Ofgem:


    https://www.ofgem.gov.uk/system/files/docs/2017/02/prepayment_price_cap_-_1_april_2017.pdf
  • Wig
    Wig Posts: 14,139 Forumite
    Hi thanks,

    But what does that mean?

    I am in South Wales and really only interested in gas, as only my gas is pre-payment.
  • Wig
    Wig Posts: 14,139 Forumite
    Anyone?.............
  • Wig
    Wig Posts: 14,139 Forumite
    edited 18 February 2017 at 12:27PM
    Anyone know what the caps are going to be in April?

    Seems strange to have a News Article and a Thread title

    "Ofgem confirms levels for prepayment price cap ahead of April launch'"

    But no one knows or understands what the cap is going to be, it's not in the News Article
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