Energy news in general

GingerTim

Do they explain why they have the electricity standing charge dropping so much in April '23?

Otherwise - ouch.

Mstty

GingerTim said:

Do they explain why they have the electricity standing charge dropping so much in April '23?

Otherwise - ouch.

That's the current average SC rates as advertised on the current Price Cap I have used just to get the price per kWh they even have that on their info provided by @pochase

pochase

I can only assume that they have removed the SOLR charge from the standing charge.

@Mstty You should get a slightly different result from them for April 2023, Their standing charge fro electricity is no longer £165 but down to £100 again. So electricity price you calculate should be a few pence less.

What concerns me is the £192 increase for April 2023 cap. While I am not sure how their calculations work against for example CI, that is an increase within the parameters they are using themselves.

Mstty

My brain just can't see where it goes down to £100 it just won't let me see that lol. More coffee and perhaps someone can mark it on the picture where it goes down.

I think Auxillion figures are generally the high predictions and CI come somewhere in the middle from something I read on twitter a few weeks back.

They are very much worse case scenario I believe.

pochase

Look at the daily standing charge from April 23 in this part of the above information.


I agree that they seem to be worse than CI, but it still means something if this scenario suddenly shows a £192 higher prediction. 

Mstty

pochase said:

Look at the daily standing charge from April 23 in this part of the above information.

Thanks just couldn't see it 👍

mysteryUser

GingerTim said:

https://news.sky.com/story/cost-of-living-crisis-households-underestimating-how-much-energy-bills-will-rise-research-shows-12674146

In short, Opinium have found that a significant proportion of people are greatly underestimating just how much their bills will increase.

I'm not too shocked that most people are confused. 

This what was said on BBC News last night:

Labours plan would freeze the energy cap in Britain at the current level of just under £2000 for most customers for the next 6 months. And remember the cap limits the maximum amount suppliers can charge for gas and electricity.

The first sentence implies that 'most' people consume the magic values of Gas: 12,000 kWh and Elec: 2,900 kWh, I wonder how true that is. 

I guess the last sentence was aiming to make things clear, I personally think it just encourages people to think they can use all they like for the maximum amount. The media need to be advising it's the maximum that can be charged per unit used!

pochase

Remove "amount" add "rates" and it would be fine.

The way it is written is plan wrong and confuses users.

And I would say that less than 1% of users use exactly 12000/2900.

SJMALBA

Recently, in a pre-recorded segment about energy prices on BBC Scotland's lunchtime news, the reporter said "The Price Cap, what is it? It's the maximum  amount that your supplier can charge you for electricity".

Stupidly, I decided to waste some time and put in a complaint, pointing out that it applies to gas too, and that it's a cap on unit rates & SCs, not the total amount; the more energy you use, the more you pay - this was their response.

'...The story also had a reference to the energy price cap. I concede that, although we continued referring to that which is the enabling force for the support scheme – electricity – we should have clarified that the price cap applied also to gas. I apologise for that.

However, Ofgem defines the energy price cap as limiting the rates a supplier can charge for their default tariffs. That is what the reporter meant when she referred to the maximum amount that energy suppliers could charge their consumers for their electricity. I think it is pretty clear to our audience, given the number of recent exhortations in the media and elsewhere to turn thermostats down, put on more clothes, insulate lofts, etc., that you have to pay for what you use – but that the rates are controlled by the government through the regulator.'

Perhaps it would have been better if she actually said what she meant? Apparently not.

As I said, waste of time...

SJMALBA

Centrica and Octopus back plan to freeze UK energy bills for two years

https://www.theguardian.com/business/2022/aug/15/centrica-and-octopus-back-plan-to-freeze-uk-energy-bills-for-two-years