Energy news in general

Mstty

Here we go

https://www.ofgem.gov.uk/energy-price-cap-explained

t0rt0ise

https://www.ofgem.gov.uk/sites/default/files/2023-05/Default%20tariff%20cap%20level%20-%201%20July%202023%20-%2030%20September%202023.pdf

For the full listing.

Mstty

And for those considering fixes and wanting to take in current forecasts

RG2015

The Ofgem price cap for the average user is coming down to £2,074 from 1st July. The current energy comparable price guarantee for the is £2,500.

This represents a decrease of 17% so I initially estimated that my energy bill would also come down by about 17%. However, as I am electricity only, the new rates of 30p/kWh and 53p/day, shown in the post above only give me a 5.1% reduction.

I guess that the big "winners" are those with a gas supply.

Mstty

RG2015 said:

The Ofgem price cap for the average user is coming down to £2,074 from 1st July. The current energy comparable price guarantee for the is £2,500.

This represents a decrease of 17% so I initially estimated that my energy bill would also come down by about 17%. However, as I am electricity only, the new rates of 30p/kWh and 53p/day, shown in the post above only give me a 5.1% reduction.

I guess that the big "winners" are those with a gas supply.

Not really gas isn't used that much this time of year so demand is low. Electricity powers all our gadgets and entertainment and cooling etc etc so demand is still higher.

Trust me as an all electric house we want the gap between electricity and gas kWh price to narrow as it should being a polluter but we are not there yet.

Now we are in three monthly pricing periods we will.see this widening and opening gap between gas and electricity.

RG2015

Mstty said:

RG2015 said:

The Ofgem price cap for the average user is coming down to £2,074 from 1st July. The current energy comparable price guarantee for the is £2,500.

This represents a decrease of 17% so I initially estimated that my energy bill would also come down by about 17%. However, as I am electricity only, the new rates of 30p/kWh and 53p/day, shown in the post above only give me a 5.1% reduction.

I guess that the big "winners" are those with a gas supply.

Not really gas isn't used that much this time of year so demand is low. Electricity powers all our gadgets and entertainment and cooling etc etc so demand is still higher.

Trust me as an all electric house we want the gap between electricity and gas kWh price to narrow as it should being a polluter but we are not there yet.

Now we are in three monthly pricing periods we will.see this widening and opening gap between gas and electricity.

The average bill for a gas and electricity user is coming down by 17% and mine is coming down by 5.1%.

I haven't crunched any simulation numbers but my first thought remains, that the 1st July savings for gas users must be much greater than mine.

As regards your seasonal comment, as this doesn't affect me, I hadn't considered it. I tend to view my electricity costs though an annual budget prism. 

I buy heating oil 2 or 3 times a year usually dictated by the prevailing cost per litre.

[Deleted User]

Or as the BBC is depicting it:

m_c_s

Interesting to note that the UK natural gas futures price this morning is now at a level seen in 2005, 2008, 2011 to 2014 and in 2018. This is still 30% or so above the average over the last 20 years but is none the less good news for the future.

spot1034

m_c_s said:

Interesting to note that the UK natural gas futures price this morning is now at a level seen in 2005, 2008, 2011 to 2014 and in 2018. This is still 30% or so above the average over the last 20 years but is none the less good news for the future.

Not just the very short term prices but I have noticed that prices for next winter have come down very significantly during the past few weeks. 

michaels

RG2015 said:

The Ofgem price cap for the average user is coming down to £2,074 from 1st July. The current energy comparable price guarantee for the is £2,500.

This represents a decrease of 17% so I initially estimated that my energy bill would also come down by about 17%. However, as I am electricity only, the new rates of 30p/kWh and 53p/day, shown in the post above only give me a 5.1% reduction.

I guess that the big "winners" are those with a gas supply.

My gas unit rate will increase from 10.3p to 13.3p - pah