Calculating energy price cap £ amount for your own kWh useage

tg99

Is anyone aware if a website that calculates the price cap amount for you based on own useage rather than that of average household?

Otherwise guessing it is a case of calculating it from Ofgem tables as below:

https://www.ofgem.gov.uk/sites/default/files/2021-08/Default%20tariff%20cap%20level%20-%201%20October%202021%20-%2031%20March%202022.pdf

So for example, am guessing (as not read through methodology / additional notes etc yet) from the tables that the price cap for gas for someone who uses 8,000 kWh pa in London and pays by ‘other payment method’ (think this would include direct debit but not sure) would be:

Standing charge = £90.81
Gas useage = (£569.35/12000)*8000 = £379.57

Therefore total = £470.38

(I’ve got Gas-only with Green who went bust today so trying to get idea of how much the price cap for my useage would be so can compare with other deals available and the deemed tariff that the new supplier will put me on to.)

waynedance

I found the below from Ofgem website. Seems low as most deals out there are more than the below. 


From 1 October the equivalent per unit level of the price cap to the nearest pence for a typical customer paying by direct debit will be 21p per kWh for electricity customers and 4p per kWh for gas customers

jimjames

waynedance said:

I found the below from Ofgem website. Seems low as most deals out there are more than the below. 


From 1 October the equivalent per unit level of the price cap to the nearest pence for a typical customer paying by direct debit will be 21p per kWh for electricity customers and 4p per kWh for gas customers

It's a very rough figure as the exact ones vary by region. It also doesn't include VAT but yes the cap is lower than most deals out there at the moment. That's the whole point about it being a better option for many people over the next 6 months

Dahliaa

This is very helpful. Thank you
but how do you calculate this for Economy 7 tariffs? They just guče one price which is not slit between day and night rates.
I don’t understand why their need to make it so complicated, common consumer will not run spreadsheets etc to figure out.

hydratoad

Dahliaa said:

This is very helpful. Thank you
but how do you calculate this for Economy 7 tariffs? They just guče one price which is not slit between day and night rates.
I don’t understand why their need to make it so complicated, common consumer will not run spreadsheets etc to figure out.

It is designed to allow the supplier the flexibility to choose their own combined rates, as long as they do not breech the cap for the typical user with a typical peak/off-peak split. But I agree, it is excessively complicated for the consumer.

I provided a link to Ofgem's reference spreadsheet, which you can plug the new cap figures into, here: https://forums.moneysavingexpert.com/discussion/comment/78622328#Comment_78622328

You have to pick a price for the off-peak to calculate the allowable peak rate. This means it is only really useful for ensuring your supplier is compliant. Also note that their base-line assumes the off-peak rate is just 7p (+VAT), which seems unrealistic today

For reference, EDF have informed me that my VAT inclusive rates, fixed at 2.5% below the cap, from October 1st will be:

• 24.10p/day standing charge
• 24.33p/kWh peak
• 11.19p/kWh off-peak

molerat

Ouch ! Electric +66%, Gas +46%, overall +55%.  I hope my suppliers hang in there.

ViperBugloss

Does anyone have the actual numbers in terms of kWh of consumption on which the energy price cap is calculated? I am especially interested in electricity only with Economy 7. I have searched for the numbers but can only find the cost in £s. I wrote to my MP (a Conservative) about the issue of heating costs over the winter at the beginning of September and, after a month, finally got a boiler plate response with a load of gobbledygook about price caps. I would like to be able to do these calculations for myself and compare them against my actual usage.

QrizB

ViperBugloss said:

Does anyone have the actual numbers in terms of kWh of consumption on which the energy price cap is calculated? I am especially interested in electricity only with Economy 7. I have searched for the numbers but can only find the cost in £s. I wrote to my MP (a Conservative) about the issue of heating costs over the winter at the beginning of September and, after a month, finally got a boiler plate response with a load of gobbledygook about price caps. I would like to be able to do these calculations for myself and compare them against my actual usage.

@ViperBugloss iIt's all there on Ofgem's website:

https://www.ofgem.gov.uk/publications/default-tariff-cap-level-1-october-2021-31-march-2022

MWT

ViperBugloss said:

Does anyone have the actual numbers in terms of kWh of consumption on which the energy price cap is calculated? I am especially interested in electricity only with Economy 7. I have searched for the numbers but can only find the cost in £s. I wrote to my MP (a Conservative) about the issue of heating costs over the winter at the beginning of September and, after a month, finally got a boiler plate response with a load of gobbledygook about price caps. I would like to be able to do these calculations for myself and compare them against my actual usage.

The one bit of information that isn't so easy to spot on the Ofgem spreadsheet is that they use a 48/52% split between day and night on the cap calculations.

wild666

Using the figures of 26.5p DC and 21p per kWh the price of my electric has doubled in under 4 years it started at 10.4p and a DC of £8.99 per month. The gas up from 2.4p to 4p with no DC, OFTM, I left them after 11 months, due to winter/summer DD that would have being more than my yearly usage in 6 months or less. A couple of years with Bulb then I left them because of large increases, then Avro, since gone bust, I sort of knew there prices were cheap but didn't expect the sort of results we see now with suppliers going bust like we have seen recently. Jan 2018 my yearly bill was around £350 now with Octopus, SLoR, it's more than double the Jan 2018 prices, I will be looking for cheaper prices than Octopus.

QrizB

wild666 said:

Wouldn't it be fairer to put the price of the DC onto the average daily kWh usage.

No, because it costs money to keep the network running and the costs of providing a connection to a property are broadly the same regardless of whether you use 1kWh or 10000kWh.