Price cap

manugirl

Hi, when Martin says to get deals that are around 40% above the energy cap, am I to understand that the total rise would be 90% more than what I'm paying now? I am a little confused by all this.

emmajones1976

Well nobody knows what you are paying now. Tell us what your current unit rates are.

TheMilkmansDad

hard to say without figures.

Say you are coming to the end of a good 2 year fix spending (for example) £1,000 based on accurate readings a year. For those units on the current price cap you'd be paying £1,500 (pure guess). That will go up approx. 50% to £2,250. So based on your current cost of £1,000 you'd expect a 125% increase. Again this is pure guesswork to give you an idea.

wild666

I read in the express that the price cap was going up to £1897 a rise of £620 but the article seems to have disappeared since I read it  

facade

OFGEM have said they are announcing the new cap at 11:00 tomorrow (3/2/22)

Astria

wild666 said:

I read in the express that the price cap was going up to £1897 a rise of £620 but the article seems to have disappeared since I read it  

That's because it's all guesswork. They probably took the original price cap and added 50% to it.