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

wrf12345

Octopus fixed options would currently double my bill rather than increase it by fifty percent. Gas is going off at the end of the month until mid December so will look around for some fixed deals with low s/c and zero exit and then exit at the end of November if better options are available. I use about 100kwh of elec a month so even at 0.32/3 kwh and low s/c I will be better off rather than accepting the £189 s/c per year for elect that is likely to be inflicted by Octopus.

GingerTim

wrf12345 said:

Gas is going off at the end of the month until mid December so will look around for some fixed deals with low s/c and zero exit and then exit at the end of November if better options are available. 

'Hen's teeth' spring to mind!

double_dutchy

NameWithheld said:

mdjuergens said:

1. Find your region

Any idea how to do that?. We are either in the Midlands or South West depending on context. If I remember correctly, back in the days before privatisation this area was served by Midlands Electricity and South West Gas.

Some websites allow you to look up your postcode and find your region. Just google "which electricity region" or similar

wild666

mongoose2009 said:

the govt is gonna take out a £200 loan on my behalf eh?

ok but what happens when the gas prices stay high?

another £200 loan?

and another?

heres a idea bin the green bollox from your stupid wife and start fracking

and start to build nuclear power stations

so we can get to energy independence by 2030

not zero carbon that cannot ever be achieved with windmills that only work

30% of the time AT BEST

These £200 so called loans won't ever see a decrease in any charges after 5 years the utility companies will keep them so they can make an extra £40 per year from users. 

studio_two

MaggieGroundhog said:

wittynamegoeshere said:

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?

I just heard the Chancellor say we couldn't have a windfall tax on energy company profits because they needed to invest in North Sea oil fields: fossil fuels. What climate crisis?

It's up to the shareholders to fund the prospecting, since they are the ones that benefit from the profit. I am not a an investor, I am a customer. I can purchase shares if I choose to do the former.

I had a similar discussion with a supplier at work who wanted to put up his prices so he could purchase some new equipment.

studio_two

QrizB said:

studio_two said:

mdjuergens said:

Does anyone know where (or when) to find the ACTUAL  costs per kWh and also standing charges. The costs for the mythical "average user" don't actually help me.

Funny that isn't it?

It's not that funny, but it suggests you've not looked in the right places.

The actual rates are posted in several places on this forum including in the "Ofgem April 2022 cap explained" post linked to in my signature - two posts above yours.

Thanks. The point I was making, is that I had to come HERE to get that information - there's nothing obvious on the OFGEM site, and the BBC News page doesn't carry this either.

Sorry, if I wasn't clear about that. I'm grateful for the information provided.

wild666

TobyCG said:

mdjuergens said:

Does anyone know where (or when) to find the ACTUAL  costs per kWh and also standing charges. The costs for the mythical "average user" don't actually help me.

Official figures have been posted here at last: https://www.ofgem.gov.uk/publications/default-tariff-cap-level-1-april-2022-30-september-2022

If my maths is correct, this works out at (for me in the Midlands and inc.VAT):
Electricity: 48.13p standing & 27.87p/kWh
Gas: 27.22p standing & 7.37p/kWh

Massive and surprising increase in the electricity standing charge.

IMO the standing charges you quote should be the other way round. All household rely on electricity so increasing the standing charge by 100% for electric would be the wrong choice IMO it should be the gas price that saw the large increase not electric.

wild666

Briskly said:

QrizB said:

Here's my take on the new rates. E&OE.

Thanks for this. I hope Martin picks up on the massive electricity standing charge hike - the press too.  

Why is it that the price for London for electric is the lowest? Most densely populated shouldn't mean a lower standing charge for electric!

LauraSW

My present fixed contract runs out in March.  My supplier is offering a new one year fixed tariff which is fairly in line with the Ofgem new capped rates on the unit costs for gas and electric but the daily standing charge has doubled for both electric and gas on the offer when Ofgem are only stating that the electricity standing charge will double on the new capped rates.  Should I sign up or are they pulling a fast one ,!!

Stevebrass

QrizB said:

Stevebrass said:

As others have noted, the capped standing charge for electricity in my region is increasing from £103.31 to £167.30. Why?

The short answer is "because it is".

The long answer is that if you read and understand all the info on this Ofgem page, including the attached spreadsheets that give full details of how the cap is calculated, it will explain it.

Okay, I have delved into the spreadsheets but so far I can't find the figures shown in the price cap document. And to be honest, my question was geared towards, why? at this point of price increases, should a cost element that is not ?related? to the wholesale price of fuel be increased,