MSE News: Energy price cap could save households £75/year, says Ofgem

MSE_Andrew

The energy price cap has been unveiled which could cut bills for 11 million households by around £75 on average - but many could save £100s by switching and saving NOW...

Read the full story:
'Energy price cap could save households £75/year, says Ofgem'

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GunJack

So is the cap price per unit and standing charge, or s it on the total bill?? Zero detail, just a (probably) misleading headline..

For example, if moving to a SVR does that mean I can use as much gas & leccie as I like for my £1.2k a year?? No way would that be allowed, so how will it work??

emmagibson67

:)We live in an area which does not have gas and therefore only have electricity costing £2500 per year . . We are on a variable economy 10 tariff and I have shopped around extensively for a cheaper deal.I have only seen references to duel fuel customers how will this affect single fuel users on economy 10 ??

Londonlisa12

12 month fixed tariffs have gone up on average around 15% in the last 6 months for average use.
The energy firms have just upped these to take into account the the cap on variable tariffs.
The people who regularly switch and look for the good deals are being punished for the people not bothered to switch.

Blackbeard_of_Perranporth

Now I see that the MSM has again come out will shull bit news about energy. Some price cap! Take care. As I has said afore and again and again and again and again! FIX!
Elect General 3,200 kWh per year
Gas Heating 13,500 kWh per year
This would cost £1190 a year with a standing charge of £205 on top! Now you thought the BBC told you it would be £1136 a year! That applied to MsLW in Glawster as I have used the SW Engerland figures!
https://www.ofgem.gov.uk/system/files/docs/2018/08/aug_2018_-_cap_levels_for_publication.pdf
Get insulated Cavity wall. We weres done last year and our gas dropped!

D_M_E

Another month, another winter, another price cap announcement.

These things are getting standard this time of year.

All it does is give suppliers a price target to aim for.

[Deleted User]

GunJack wrote: »

So is the cap price per unit and standing charge, or s it on the total bill?? Zero detail, just a (probably) misleading headline..

For example, if moving to a SVR does that mean I can use as much gas & leccie as I like for my £1.2k a year?? No way would that be allowed, so how will it work??

looks like the cap is only on the SVT tariff up to the typical usage level of 3100 kwh s electric and 13200 kwh s of gas. Use more than that and you pay the increased rate over the capped rate.
standing charges won t be capped. So you would be better off , depends on your total usage as to how much better off.
Looks a good deal if you are one of those who are determined to pay on receipt of bill or too lazy to shop around and stay on SVT s
This cap only lasts the late winter months from Dec 2018 to April 2019 when its reviewed every 6 months untill 2020.
Prepayment caps work the same way but they are set to rise as little says the article in MSE

shoi

Just somewhere couldn't someone actually do us the service of telling us the price per kwh. Yes I understand the news value of telling us about a "typical household" but is every journalist in the entire UK so scared of numbers that they don't dare inform us of the actual figure.



It's so bad that in two places I have seen people wondering if this is a real cap, that once a household has spent £1136 then any more energy is free, and I must say the writing is so bad that it's not an unfair inference.


Next time you employ a journalist then give them a sums test before hiring them

[Deleted User]

Londonlisa12 wrote: »

12 month fixed tariffs have gone up on average around 15% in the last 6 months for average use.
The energy firms have just upped these to take into account the the cap on variable tariffs.
The people who regularly switch and look for the good deals are being punished for the people not bothered to switch.

That is the gist of it. We are slowly paying more for being diligent and possessing a bank account able to pay for a monthly direct and spending time each year to switch tariffs or suppliers.
Prepayment meter users have already been subsided to much lower rates than the system deserves .Years ago the Labour government won some votes by declaring a subsidy for expensive to run key and card prepay meters down to normal standard variable rates. Previously they were even higher than STV .The poorest in the country were paying the highest prices

Brewer20

I loved the womans attitude when asked on camera, I can't be bothered to go through the hassle of switching.
Tis easy now, I had to get off my bum twice (can I say bum on here?) to read the meters, once to get the reading and again to do a re check when asked. A bit of number crunching (I'm useless at maths) with a calculator and your last 12 months usage is all it takes.