Understanding Ofgem price cap

bristolleedsfan

Ultrasonic said:

baldycoot_2 said:

When I come of my fixed Eon dual fuel tarriff. I have been checking tarrif's I may be going onto. The Electric is going fro
m 17.85 a day to 48.56 a day 172% increase. The Gas is going from 16.27 a day to 48.22 a day 196% increase. Is this allowed under the ofgem price cap.

Those numbers don't look right. Possibly one includes the standing charge and the other does not?

Those SC figures are spot on what E.on Next/Sainsburys Energy have been charging for new fixed rates in recent weeks, however later on last week it hiked its new fixed rates by about 5.5kwh E., Gas hiked by about 2.5pkwh with S/C reduced to about 35.5p E 37.2p G, regional variations apply

bagand96

baldycoot_2 said:

When I come of my fixed Eon dual fuel tarriff. I have been checking tarrif's I may be going onto. The Electric is going fro
m 17.85 a day to 48.56 a day 172% increase. The Gas is going from 16.27 a day to 48.22 a day 196% increase. Is this allowed under the ofgem price cap.

They look like rates on a new fix with Eon. If you don't sign up to a new fix then your account will just roll on to their Standard tariff which will be at the Ofgem cap.

QrizB

baldycoot_2 said:

When I come of my fixed Eon dual fuel tarriff. I have been checking tarrif's I may be going onto. The Electric is going from 17.85 a day to 48.56 a day 172% increase. The Gas is going from 16.27 a day to 48.22 a day 196% increase.

Is this allowed under the ofgem price cap.

The answer to your question is "yes, this is allowed because the standing charge figures you've given are for a fixed-price tariff not E.ON's standard variable tariff". Only the standard variable tariff is capped by Ofgem; E.ON can offer whatever they want for a fixed rate deal.

As others have said, if you don't sign up for a new fixed deal you will automatically be placed onto the price-capped variable tariff.

Ultrasonic

Ignore me  .

Ultrasonic

bristolleedsfan said:

Ultrasonic said:

bristolleedsfan said:

Ultrasonic said:

baldycoot_2 said:

When I come of my fixed Eon dual fuel tarriff. I have been checking tarrif's I may be going onto. The Electric is going fro
m 17.85 a day to 48.56 a day 172% increase. The Gas is going from 16.27 a day to 48.22 a day 196% increase. Is this allowed under the ofgem price cap.

Those numbers don't look right. Possibly one includes the standing charge and the other does not?

Those SC figures are spot on what E.on Next/Sainsburys Energy have been charging for new fixed rates in recent weeks, however later on last week it hiked its new fixed rates by about 5.5kwh E., Gas hiked by about 2.5pkwh with S/C reduced to about 35.5p E 37.2p G, regional variations apply

The person I posted made no mention of a standing charge...

I read reference to " a day" as being SC which fits exactly with what SC were for new fixed rates up until a few days ago  "17.85 a day to 48.56 a day 172% increase. The Gas is going from 16.27 a day to 48.22 a day"

Yes, I realised my mistake and edited my post while you were apparently replying. I was thinking one figure was a total daily cost but of course both figures are too low.

Only looking at standing charges rather than the total cost is never a sensible thing to do of course. It's the change in the total cost that matters.

Ultrasonic

I did just check a quote for me in the south west with E.On Next and for a 2 year fix tand the standing charges are 36.71p and 37.17 p per day, for electricity and gas respectively. Are there really tarifs with standing charges as high as 48 p per day? As a low energy user myself this is certainly not a direction of change I'd want to see generally!

bristolleedsfan

Ultrasonic said:

 Are there really tarifs with standing charges as high as 48 p per day?

They were that level until a few days ago when new fixed rate tariff replaced existing tariff.,E up 5.5kwh, G up by about 2.5pkwh with S/C reduced to about 35.5p E 37.2p G - subject to regional variations

Heinzbean

Capt_easychord said:

I don't know if this is a bit cheeky but if anyone could give me some indication of whether this tariff is OK, or if I'd be better to go onto the SVR price cap, just to put my mind at rest, I'd be really grateful! Our usage is about 13500 gas and 3300 electricity.

 

Electricity

1 Year Fix and Reward v19 Direct Debit version

Starting on 07/10/2021

Fixed term ends 07/10/2022

19.82p/kWh17.26p/day

(All rates inc. VAT)

Gas

1 Year Fix and Reward v19 Direct Debit version

Starting on 07/10/2021

Fixed term ends 07/10/2022

3.96p/kWh19.27p/day

(All rates inc. VAT)

Capt easychord.

Electricity kwh               = 7.82%  below  cap

Electricity daily charge  = 39%      below cap

Gas Kwh       =======   =1.26%  below cap

Gas daily charge  ======35.49% below cap

Your bill £1322  on New capped  would be  £1429.21

You would be paying  8.1 % more on a capped deal.

Capt_easychord

There are some lovely people on this forum, many thanks!