News: Energy bills to rise by £700/yr for many | Chancellor unveils up to £350 households support

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  • wrf12345
    wrf12345 Posts: 354
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    From April standing charges may be much higher, we don't know yet...
  • Fred2712
    Fred2712 Posts: 100
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    Bills are not going up by £700/yr, the maximum capped tariff is going up between April and October, when power usage is much lower.  This probably represents around a quarter of a typical household's annual power bill.
    This is only if competition does not resume and we don't go back to suppliers competing for customers at prices below the cap, which may happen next week for all anyone knows.
    IF tariffs remain this high in a year's time then they've gone up by £700/yr, but this is not a fact until next year.
    Everyone on a capped variable tariff is paying the current (pre-rise) price for about another two months until the 1st April, after which time most people will be using much less power for the next six months, until the next price review.  Anyone who has leapt onto a bumped-up fixed tariff as a result of the fear generated by these sort of headlines will currently be paying much more than everyone who's stayed on the capped variable tariff.
    It's undoubtedly bad news, but possibly not as bad as the headlines are screaming.
    If you are using less energy from April to Oct then people on the fixed tariff will also be paying less.
    Personally piece of mind of a fixed tariff is also not something you can calculate for.
  • At the moment the cap is around 21p/kwh + 25p/day standing charge for electricty and 4p/kwh + 21p/day for gas. (not sure if this includes VAT or not).
    Does anyone know what the rate will be from 1st April 22?
    If you know your yearly usage, this is the only way you can work out how much of an impact it will be for you.
  • wrf12345
    wrf12345 Posts: 354
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    edited 3 February 2022 at 12:59PM
    28 and 7p kwh  approx, standing charges rumoured to be hiked by an outrageous amount
  • All this talk and hype about those fortunate to live in a home with mains gas and/or electricity.  What about a price cap for the significant numbers of people living in rural homes who MUST  use oil or natural gas?

  • TobyCG
    TobyCG Posts: 8
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    I understand that there's a specific cap on standing charges, they won't be able to rise by more than is allowed, most are already around the capped price so they shouldn't generally rise by more than a mere 60%-ish :o
    Well if we take their figures of 28p and 7p for electricity and calculate for the 'average' home with the current cap's standing charges, it comes up roughly £120-130 short of the stated £1971.

    Divide that difference down by 365 days and we're looking at a combined standing daily charge increase of roughly 33p across both which is about 65%.
  • wrf12345
    wrf12345 Posts: 354
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    "Divide that difference down by 365 days and we're looking at a combined standing daily charge increase of roughly 33p across both which is about 65%. "

    It means low energy users have had the biggest percentage increase in costs, an absolute disgrace.
  • TobyCG
    TobyCG Posts: 8
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    My best guesstimate puts the new cap at around:

    Electricity: 43p standing, 28p/kWh
    Gas: 44p standing, 7p/kWh

    All including VAT.  We'll see how close this is when they actually get off their backsides and publish the relevant details.
  • wrf12345
    wrf12345 Posts: 354
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    If true, my council tax saving goes straight into the energy company's pockets to pay for increased s/c's. If we were still in the EU there would have been a mass exodus to Spain in protest!
  • Mineral1
    Mineral1 Posts: 134
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    Andy1T said:
    All this talk and hype about those fortunate to live in a home with mains gas and/or electricity.  What about a price cap for the significant numbers of people living in rural homes who MUST  use oil or natural gas?


    Nobody MUST use any fossil fuel.  We're 100% electric.  Have you looked at heat pumps?
    Pretty sure heat pumps use mains electricity
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