Energy news in general

Spies

So what are they saying, that they're not being financially responsible?

wild666

gefnew said:

Be the first to see if you think this will work.
Plan to cut energy bills if you avoid peak-time use - BBC News

IMHO all this will do is move the times people use their electric creating another peak time of use.

StartledJesus

Ofgem Open letter re Review of the recovery of costs of failed suppliers, and treatment.

https://www.ofgem.gov.uk/sites/default/files/2022-07/Open%20letter%20Review%20of%20how%20the%20costs%20of%20supplier%20failure%20are%20recovered%20.pdf

Ideally there won’t be any more. 

Mstty

StartledJesus said:

Ofgem Open letter re Review of the recovery of costs of failed suppliers, and treatment.

https://www.ofgem.gov.uk/sites/default/files/2022-07/Open%20letter%20Review%20of%20how%20the%20costs%20of%20supplier%20failure%20are%20recovered%20.pdf

Ideally there won’t be any more. 

Aggressive timescales to say the least.

Despite fixing with a high SC on our electricity I don't mind in they do take the burden of the SC and put the charge for SoLR on volumes of energy.

Outfox the market must have 150000+ members by now and probably the next to go.

Sea_Shell

https://www.moneysavingexpert.com/pressoffice/2022/action-on-energy-bills----charities--consumer-groups-and-energy-/


Outcome of getting "everyone" round a table and thrashing some stuff out.

Mstty

BBC News - Cost of living: Energy bills forecast to hit £3,363 a year

https://www.bbc.co.uk/news/business-62094435

Makes sense seeing all these 50p elec and 15-17p gas fixes now😳

QrizB

Mstty said:

BBC News - Cost of living: Energy bills forecast to hit £3,363 a year

https://www.bbc.co.uk/news/business-62094435

Makes sense seeing all these 50p elec and 15-17p gas fixes now😳

Cornwall Insight original press release here:

https://www.cornwall-insight.com/default-tariff-cap-forecast-climbs-further-as-ofgem-announcement-looms/

New forecasts from Cornwall Insight have seen the Default Tariff Cap for Q1 2023 (Jan-Mar) rise to £3,363 a year for an average domestic consumer, increasing significantly from the £3,003 figure released two weeks ago. Predictions for the Q4 2022 (Oct-Dec) Cap, have also seen a steep increase, and now sit at £3,244 a year.

Figure 1: Cornwall Insight’s Default Tariff Cap forecasts

QUARTERLY	Q4 2022 CI Forecast	Q1 2023 CI Forecast
Electricity	£1,444.20	£1,485.89
Gas	£1,800.34	£1,877.81
TOTAL	£3,244.54	£3,363.70
AVERAGE		£3,304.12

Source: Cornwall Insight

If I break that down, assuming similar standing charge rates to the April cap, I get:

Q4 2022 Q1 2023 Gas SC £ /yr 100 100 12000kWh gas £ 1700.34 1777.81 Gas /kWh p 14.17 14.82 Elec SC £ /yr 170 170 2900kWh elec £ 1274.2 1315.89 Elec /kWh p 43.94 45.38

wakeupalarm

Price of offshore wind power falls to cheapest ever level in UK

Mstty

QrizB said:

Mstty said:

BBC News - Cost of living: Energy bills forecast to hit £3,363 a year

https://www.bbc.co.uk/news/business-62094435

Makes sense seeing all these 50p elec and 15-17p gas fixes now😳

Cornwall Insight original press release here:

https://www.cornwall-insight.com/default-tariff-cap-forecast-climbs-further-as-ofgem-announcement-looms/

New forecasts from Cornwall Insight have seen the Default Tariff Cap for Q1 2023 (Jan-Mar) rise to £3,363 a year for an average domestic consumer, increasing significantly from the £3,003 figure released two weeks ago. Predictions for the Q4 2022 (Oct-Dec) Cap, have also seen a steep increase, and now sit at £3,244 a year.

Figure 1: Cornwall Insight’s Default Tariff Cap forecasts

QUARTERLY	Q4 2022 CI Forecast	Q1 2023 CI Forecast
Electricity	£1,444.20	£1,485.89
Gas	£1,800.34	£1,877.81
TOTAL	£3,244.54	£3,363.70
AVERAGE		£3,304.12

Source: Cornwall Insight

If I break that down, assuming similar standing charge rates to the April cap, I get:

	Q4 2022	Q1 2023
Gas SC £	100	100
Gas price £	1700.34	1777.81
Gas /kWh p	14.17	14.82
Elec SC £	170	170
Elec price £	1274.2	1315.89
Elec /kWh p	43.94	45.38

Cheers for this👍

pochase

Brilliant piece of journalism

• Appeals to shift the burden of bills away from the standing charge, to help vulnerable groups such as people with disabilities

That was exactly the one example given in the interview by Jonathan Brearley a few weeks ago on  BBC breakfast TV where an increase of rates instead high standing charges would be a problem.