What should the unit prices be to cover wholesale prices?

superkoopauk

Let's hope BFY are very wrong then - £3145 from October and £3225 from January!

https://lnkd.in/e-RPisps

Chrysalis

Hmm in another thread there is a prediction of a big increase on Electric costs, is the October cap not set in stone yet then?

pochase

That's the reason why we always write prediction, forecast or guestimate.

The October cap is only set in stone when Ofgem announces it, and that should be in August. 

Sea_Shell

superkoopauk said:

Let's hope BFY are very wrong then - £3145 from October and £3225 from January!

https://lnkd.in/e-RPisps

They'll be some pretty p'ed off people who decided not to fix if that prediction comes to fruition!!! 😲

"But Martin said....!"

Chrysalis

pochase said:

That's the reason why we always write prediction, forecast or guestimate.

The October cap is only set in stone when Ofgem announces it, and that should be in August. 

I thought they did already announce, I guess not.  What were the press quotes from Ofgem quoting the October cap for then, just an estimate from Ofgem?

Chrysalis

superkoopauk said:

Let's hope BFY are very wrong then - £3145 from October and £3225 from January!

https://lnkd.in/e-RPisps

Still confusing numbers though we dont know which portion is Gas and which Electric and which is SC and which is unit rates.  I really hope someone pressures Ofgem to stop this way of reporting the cap.

superkoopauk

Chrysalis said:

pochase said:

That's the reason why we always write prediction, forecast or guestimate.

The October cap is only set in stone when Ofgem announces it, and that should be in August. 

I thought they did already announce, I guess not.  What were the press quotes from Ofgem quoting the October cap for then, just an estimate from Ofgem?

Yes it was an estimate which the treasury was pushing for to support the £400 grant.  Expect the official announcement of the cap on the 26th August

MWT

Chrysalis said:

I really hope someone pressures Ofgem to stop this way of reporting the cap.

There is no point in breaking down the numbers they were reporting as estimates, but when the cap is announced it will be published by Ofgem in the usual intricate details.

That won't stop the press from focusing on a single average of the regional numbers as usual, but the details will be there.

Chrysalis

superkoopauk said:

Chrysalis said:

pochase said:

That's the reason why we always write prediction, forecast or guestimate.

The October cap is only set in stone when Ofgem announces it, and that should be in August. 

I thought they did already announce, I guess not.  What were the press quotes from Ofgem quoting the October cap for then, just an estimate from Ofgem?

Yes it was an estimate which the treasury was pushing for to support the £400 grant.  Expect the official announcement of the cap on the 26th August

Ok so I expect it to not be far off then, I guess the estimate was only in total cost form hence people on here trying to calculate unit rates from it.

Sea_Shell

Is it my imagination or is the gap, in pence, between a unit of gas and a unit of electricity getting bigger?? 

Oct 21 - ~16p     20p/4p    
April 22 - ~20p    27p/7p
Oct 22 - ~30p ?   44p/14p

I thought the idea was to move people away from fossil fuel (gas), but if the October/January predictions are to believed, the gap is getting wider.

What am I missing?    I can see that in percentage terms the gap is shrinking between the 2, but how does that effect peoples pockets.   Is it actually making the move to gas less attractive in real terms?  

Gas, per unit, was 5x cheaper, but it looks like it'll only be 3x cheaper going forwards.

What next, only 2x cheaper!!!