Standard Variable Tariff(SVT)

in Energy
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  • edited 15 March at 9:47PM
    AllanrAllanr Forumite
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    edited 15 March at 9:47PM
    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:
    • 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
    Hope you can follow that?
    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






























































  • MWTMWT Forumite
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    Allanr said:
    My understanding is that the typical electricty usage for the price cap is now 2900 rather than 3100.

    If you look at the source material for the Ofgem cap calculations it will all refer to 3100kWh, it is the quotes by the suppliers that are required to use 2900kWh.
  • AllanrAllanr Forumite
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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.

    If you look at the source material for the Ofgem cap calculations it will all refer to 3100kWh, it is the quotes by the suppliers that are required to use 2900kWh.

    Thanks, do you have a link to the Ofgem source material, I have been searching but had no luck?
  • t0rt0iset0rt0ise Forumite
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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.

    If you look at the source material for the Ofgem cap calculations it will all refer to 3100kWh, it is the quotes by the suppliers that are required to use 2900kWh.

    Thanks, do you have a link to the Ofgem source material, I have been searching but had no luck?
    https://www.ofgem.gov.uk/sites/default/files/2022-02/Default%20tariff%20cap%20level%20-%201%20April%202022%20-%2030%20September%202022.pdf
  • AllanrAllanr Forumite
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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?
    https://www.ofgem.gov.uk/sites/default/files/2022-02/Default%20tariff%20cap%20level%20-%201%20April%202022%20-%2030%20September%202022.pdf
    Thanks, its all very confusing for the lay person. This OFGEM letter https://www.ofgem.gov.uk/sites/default/files/docs/2020/01/tdcvs_2020_decision_letter_0.pdf mentions changing the Typical Domestic Consumption Values for electricity from 3,100 kWh down to 2900 kWh.




  • MWTMWT Forumite
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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?
    https://www.ofgem.gov.uk/sites/default/files/2022-02/Default%20tariff%20cap%20level%20-%201%20April%202022%20-%2030%20September%202022.pdf
    Thanks, its all very confusing for the lay person. This OFGEM letter https://www.ofgem.gov.uk/sites/default/files/docs/2020/01/tdcvs_2020_decision_letter_0.pdf mentions changing the Typical Domestic Consumption Values for electricity from 3,100 kWh down to 2900 kWh.

    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.
  • edited 22 March at 9:53PM
    polymaffpolymaff Forumite
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    edited 22 March at 9:53PM
    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... ;)
  • StartledJesusStartledJesus Forumite
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    Hi,
    have a look HERE, might help.
    Is there an updated version of this for April 2022 to October 2022? 
  • frugalmacdugalfrugalmacdugal Forumite
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    Hi,
    sorry, can't find one, somebody may help later.
    Y'all take care now.
    happy0207.gif

  • accacc Forumite
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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 2021

    Gas kWh 12000 x 4.07 = 488.40
    Gas sc 365 x 26.12 = 95.338
    Gas Total = 583.738

    Elec kWh 3100 x 20.28 = 628.68
    Elec sc 365 x 24.88 = 90.812
    Elec Total = 719.49

    Energy Total = 1303.23

    Apr 2022

    Gas kWh 12000 x 7.37 = 884.4
    Gas sc 365 x 27.22 = 99.353
    Gas Total = 983.753

    Elec kWh 3100 x 28.34 = 878.54
    Elec sc 365 x 45.34 = 165.491
    Elec Total = 1044.03

    Energy Total = 2027.784

    Oct 21 to Apr 22 Increase

    Gas = 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.
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