Energy Price Cap

Dyortagrum

Is it possible to express the price cap in terms of the standing daily charge and per unit rate. If not then how do I know if my supplier is charging me in excess of the cap?

UnclaimedEnergy

Take the p/kWh and p/day rates on your bill and do 29 * p/kWh and 3.65 * p/day.

If this comes out more than the cap then you're being overcharged. (this changes by region though)

Before you do all of that though, switch supplier or change your tariff so you're not on a price cap tariff.

snowyjoey

Reviving this old thread.  

Bills are Standing charge rate (X) + usage charge rate (Y), for both Gas (G) and Electricity (E).

My understading of the price cap is that if you live in region A, pay by method B, and have meter type C, your charge rates will be capped to GX, GY EX and EY.

My question is:  Given I know A, B and C, how do I find out what GX GY and EX EY are? 

Simply - what are MY price cap rates?

bristolleedsfan

snowyjoey said:

 

Simply - what are MY price cap rates?

Easiest way is to get quick quote from  https://www.eonnext.com/  look at Next Flex rates that apply from 1 October as they price to cap

snowyjoey

bristolleedsfan said:

snowyjoey said:

 

Simply - what are MY price cap rates?

Easiest way is to get quick quote from e.on <link snipped> look at Next Flex rates that apply from 1 October as they price to cap

Thanks for that @bristolleedsfan.  How can you tell that they "price to [the] cap" ?

bristolleedsfan

snowyjoey said:

bristolleedsfan said:

snowyjoey said:

 

Simply - what are MY price cap rates?

Easiest way is to get quick quote from e.on <link snipped> look at Next Flex rates that apply from 1 October as they price to cap

Thanks for that @bristolleedsfan.  How can you tell that they "price to [the] cap" ?

Announcements get made that biggest 4 which includes E.on price each SVR energy cap change to the maximum allowed, biggest 4 also tend to stick to max SC/kwh as opposed to slightly lower SC. higher kwh rate

greenguppie

snowyjoey said:

Reviving this old thread.  

Bills are Standing charge rate (X) + usage charge rate (Y), for both Gas (G) and Electricity (E).

My understading of the price cap is that if you live in region A, pay by method B, and have meter type C, your charge rates will be capped to GX, GY EX and EY.

My question is:  Given I know A, B and C, how do I find out what GX GY and EX EY are? 

Simply - what are MY price cap rates?

Welcome back to MSE. As you've not been here for well over a decade, presumably you missed the very recent thread by a brand new user asking essentially the same Q.

https://forums.moneysavingexpert.com/discussion/6292660/energy-price-cap-from-ofgem-whats-the-tariff

Put simply, your understanding is wrong.

Ofgem set the cap for standing charges (actually they cap the cost of zero usage, so effectively the same thing) and the cap for an 'average' user (all based on supply region, payment method & meter type). By inference, that could be said to set the maximum unit price (e.g. if the supplier were to apply a zero standing charge).
But that does not allow the supplier to set the maximum standing charge and the maximum unit price, as that would fail the overall cap for an average user on that tariff.
So suppliers still have some flexibility on how exactly they set their own default tariffs.

See the first reply to the above thread that gives you the detailed limits set by Ofgem.

snowyjoey

greenguppie said:

... presumably you missed the very recent thread by a brand new user asking essentially the same Q.

https://forums.moneysavingexpert.com/discussion/6292660/energy-price-cap-from-ofgem-whats-the-tariff

Put simply, your understanding is wrong.

    :

    :

greenguppie, both for directing me to the thread I did indeed miss, and also for correcting my understanding. 

I find the whole business of tariff comparisons fairly opaque, and while the comparison sites are very useful, they don't tell you the whole story. 

Thanks again!

matelodave

Why is tariff comparison "opaque". It's dead easy - you put your consumption into a comparison site and it will tell you how much it will cost from each supplier as an overall cost and then allow you to drill down to find the standing charge and unit rate.You can do all sorts of "what-if's"

It's a lot easier than trawling through all the suppliers webites to do the job manually or even driving round garages to compare the price of petrol or suopermakets to compare the price of baked beans