Energy news in general

QrizB

chris_n said:

Cfd's are not reducing prices already.

OK, how about "CfDs are reducing bills already"?

There was no fanfare but the latest Ofgem cap letter included a -£23 entry for CfDs. Taking the numbers from this blog and pro-rata'ing, the CfD refund in January could be -£300 to -£400 per household.

It's all moot now, of course, as the LCC credits will go to the government and knock a cople of percent off the cost of the subsidies.

pochase

Seems at least for now the daily predications continue.

tlcgrantham

I’ve never heard of a “Price Guarentee” where we aren’t told what the price per Kw/h is. Can Auxilione help?

[Deleted User]

tlcgrantham said:

I’ve never heard of a “Price Guarentee” where we aren’t told what the price per Kw/h is. Can Auxilione help?

No, because it hasn't been published yet.  All we have is the soundbite headlines.

We can guess, and it seems most of our guesses are about 10p gas and 35p electric, but until actual information is published we won't know.

pochase

Many people here in the forum would be able to help once we know the split between gas and electricity.

That still would only give you a basic figure, the regional differences would still be missing?

Not sure if this has been mentioned in one of the other threads, SC for electricity were supposed to come down in April by the amount used for SOLR. It will be interesting to see if they have calculated that in, or if the SC charges stay high now.

wakeupalarm

Octopus Energy doubles solar export payments

Octopus Energy has announced it is doubling its payments to customers exporting solar power to the grid. From Tuesday (20 September), customers on its Fixed Outgoing tariff will see their payments rise from 7.5p/kWh to 15p/kWh.

pensionpawn

wakeupalarm said:

Octopus Energy doubles solar export payments

Octopus Energy has announced it is doubling its payments to customers exporting solar power to the grid. From Tuesday (20 September), customers on its Fixed Outgoing tariff will see their payments rise from 7.5p/kWh to 15p/kWh.

Commendable increase however the timing ensures that they won't pay out much for 6 months! Now if they do the same (or even don't reverse the decision) in 6 months I might look at moving.

superkoopauk

https://www.bbc.co.uk/news/business-62969427

Much cheaper than domestic!  Although this is only wholesale prices rather than the whole stack

"wholesale prices will be fixed for all non-domestic energy customers at 21.1p per kWh for electricity and 7.5p per KWh for gas for six months"

pochase

Auxilione commented a few minutes ago on this, seems it is not as easy as the media make sit look.

The UK Government have this morning announced their support package for businesses this winter.

Sadly the media have captured the headline and reporting that prices will be capped at £211/MWh for electricity and £75/MWh for gas. THIS IS INCORRECT.

These values represent only the wholesale element of the contract price.

Please do not budget against these values. Your specific rate will be discounted to a level to meet this wholesale value and applied automatically by your supplier. They have some work to do as they'll need to identify who qualifies. Note this only applies to you if you signed a contract after 1st April 2022, or hedged on a flexible contract after this date, and applies for the delivery period of 1st October 2022 to 31st March 2023.

All very complex, much more than the headline rate delivered by the announcement. Give suppliers some space to get their heads around this as there's been very little information shared with them until this morning.

Government document

https://www.gov.uk/government/news/government-outlines-plans-to-help-cut-energy-bills-for-businesses

 

The_Green_Hornet

Ofgem should reduce standing charge as bills soar, Octopus energy boss says

The energy regulator should help drive down standing charges as customers' struggle with soaring bills, the head of one of the country’s largest suppliers has said.

Octopus Energy boss Greg Jackson said that many customers cannot understand why standing charges, the part of a bill you pay regardless of how much energy you use, are so high.

https://www.itv.com/news/2022-09-25/ofgem-should-bring-down-standing-charge-energy-boss-says