Struggling to figure out what to do here

QrizB

VT41 said:

From the Ofgem website 
21p per kWh for electricity customers and 4p per kWh for gas customers.

Here are the actual cap values:

VT41 said:

Estimated annual electricity usage - 2000KwH  . 0.21 * 2000 = £420
Gas - Estimated 9000Kwh

Assuming you are in the North West:

• Elec 84.76 + 2000 x 0.2014 = 487.56
• Gas 90.81 + 9000 x 0.0404 = 454.41
• Total = 941.97

If you aren't in the North West, substitute the correct regional values.

jimjames

VT41 said:

Deleted_User said:

VT41 said:

I was with Avro, as we know they have gone bust.  For context 1 bed flat, 1 person. 

I'm in the process of switching to British Evolve. Fixed for 2 years. Approx £78 per month. £960 year. Gas Unit price 5.18  . Electricity 20.2

The current price cap ( based on a medium usage household, 3 people household) £1277, let's assume they increase it to £1500 

I'm 60% of a medium household. 60% of £1500 = £900 year

Am I better to wait and go on the standard tariff for a year and then assess and see if the wholesale prices reduce thereby potentially fixing at a lower rate then? This is on the assumption I stay with the most expensive capped standard variable tariff in which I would hope to also find a cheaper one in that time..

Thoughts?

There is no point working it out with all that "one person = 60%" - you can't possibly get an accurate answer.

Use exact kWh annual usage for gas and electricity separately to do a proper comparison otherwise you could totally miscalculate the best deals.

The Ofgem rates are based on 12,000kWh gas and 3,100kWh elec and therefore can only be used as a comparison if you usage is exactly that.

For example I'm a 4 person household yet I use double the Ofgem cap benchmark in electricity but only 25% more in gas which I expect to drop dramatically this winter with everyone out of lockdown and back out of the house during the day - probably will drop to the Ofgem cap consumption.

If I was to compare my energy bills by saying I'm a 25% bigger household than the cap that would work out totally wrong for me - it comes to £1600 based on 1st Oct cap when in fact I'm fixed on rates much lower than the price cap paying £1800 because I'm skewed by the high electricity consumption - whereas if I was paying the actual cap rates per kWh then my bill would be £2120 per year.

I also bear in mind the fact that most of my gas usage is in winter where I use about £90 per month peak in January but only £16 in the summer months whereas my elec usage is fairly flat all year round. Having a lower gas tariff for the next 6 months makes a bigger difference than it will come April next year.

Just makes no sense to compare with "60% of the cap", so do a kWh comparison of annual cost.

From the Ofgem website 

21p per kWh for electricity customers and 4p per kWh for gas customers. 

Estimated annual electricity usage - 2000KwH  . 0.21 * 2000 = £420

Gas - Estimated 9000Kwh 

With it being set at 0.40p  * 8500kwh = 3600? - This doesn't seem right, where am I going wrong?

Appreciate the help

Actually it's £0.04, you've used 21p and 40p for your numbers.

If you want to play with the figures then this calculator will let you enter them energy.jj99.co.uk