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Standard Variable Tariff(SVT)
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QrizB said:Allanr said:How for example did you arrive at £1937 for the East Midlands Region?For East Midlands, Ofgem's ex-VAT cap values for a dual-fuel customer paying by DD are:Hope you can follow that?
- Gas: nil kWh £94.62, 12000kWh £926.91
- Electricity: nil kWh £155.56, 3100kWh £971.23
The headline cap rate is for a dual-fuel customer paying by DD and using 12000kWh of gas and 2900kWh of electricity per year.- Gas. This one is easy, the bill is £926.91 +5% VAT = £973.26
- Electricity. This is more difficult, we have the standing charge of £155.56 plus the cost of electricity, which is [29/31 of (£971.23-£155.56)] ie. £763.05 = £918.61 +5% VAT = £964.54
- Total £973.26 + £964.54 = £1937.80
I think I now have a better understanding of regional price cap.My understanding is that the typical electricty usage for the price cap is now 2900 rather than 3100. Both EDF and Octopus have regional price cap tables (based on Ofgem information) and I have used their information to work out the cap for East Midlands as shown below..Electicity Daily Standing Charge 44.74p Annual Standing Charge 163.30 Unit Cost/kWh 27.63p Annual Cost 801.27 Based on typical usage of 2900/annum Gas Daily Standing Charge 27.22p Annual Standing Charge 99.35 Unit Cost/kWh 7.28P Annual Cost 873.60 Based on typical usage of 120000/annum Total 1937.52 Figures include 5% Vat
My total cost is close to your calculation and also Octopus which shows as £1937
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Allanr said:My understanding is that the typical electricty usage for the price cap is now 2900 rather than 3100.
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MWT said:Allanr said:My understanding is that the typical electricty usage for the price cap is now 2900 rather than 3100.
Thanks, do you have a link to the Ofgem source material, I have been searching but had no luck?
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Allanr said:MWT said:Allanr said:My understanding is that the typical electricty usage for the price cap is now 2900 rather than 3100.
Thanks, do you have a link to the Ofgem source material, I have been searching but had no luck?
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t0rt0ise said:
Thanks, do you have a link to the Ofgem source material, I have been searching but had no luck?
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Allanr said:t0rt0ise said:
Thanks, do you have a link to the Ofgem source material, I have been searching but had no luck?I know it is confusing, that same letter also states this:So they acknowledge that they are still going to use the 3100kWh figure in the cap calculation, but require the suppliers to use the new 2900kWh figure to meet their obligations.
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Whatever, 3,000kWh of electricity and 12,000kWh of gas costs under £1,700 at today's wholesale prices.So don't shed too many tears for the retailers...0
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[Deleted User] said:Hi,have a look HERE, might help.0
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Hi,sorry, can't find one, somebody may help later.1
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The Ofcom energy price cap is stated to have increased by 54% in April 2022, but based on the typical 12,000 kWh gas and 3,100 kWh elec, and using the average price-capped rates on the the MSE "What is the Energy Cap page" (https://www.moneysavingexpert.com/utilities/what-is-the-energy-price-cap/#calculated), the increase seems to be 55.6%. Using 2,900 kWh elec, the increase seems to be 56.1%.Can you experts please check my calculations.Oct 2021Gas kWh 12000 x 4.07 = 488.40Gas sc 365 x 26.12 = 95.338Gas Total = 583.738Elec kWh 3100 x 20.28 = 628.68Elec sc 365 x 24.88 = 90.812Elec Total = 719.49Energy Total = 1303.23Apr 2022Gas kWh 12000 x 7.37 = 884.4Gas sc 365 x 27.22 = 99.353Gas Total = 983.753Elec kWh 3100 x 28.34 = 878.54Elec sc 365 x 45.34 = 165.491Elec Total = 1044.03Energy Total = 2027.784Oct 21 to Apr 22 IncreaseGas = 983.753 / 583.738 = 68.5%Elec = 1044.03 / 719.49 = 45.1%Total = 2027.784 / 1303.23 = 55.6%The increase is far more for gas than elec.0
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