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

JonVarnas

Aauk25 said:

Aauk25 said:

Any experts help me out here, im currently paying £1300 a year and fixed rate ends this month. I have been offered  a 1 year exclusive by Scottish Power which works out £2200 a year fixed till June 2023. Im tempted to switch, im an average user.

any suggestions? 

Thanks 

Electricity 

New.                                Current

Standing charge

21.64p.                             19.31

Primary unit rate

27.02p.                              15.35

) Gas

New

Standing charge

21.64p.                               19.31

Primary unit rate

7.18p.                                  2.88

Should I switch or stay put?

my usage on average is 

14500 Gas and 3900 Electricity

Oof, that's a lot of gas. Is your boiler firing on all cylinders 24/7?

double_dutchy

There seems to be some confusion about the Typical Domestic Consumption Value (TDCV) for electricity. In the 3rd Feb press release announcing the new price cap Ofgem refer to this as being 2900kWh.....but in their own region/payment method tables they refer to 3100?

I'm assuming that it should be 3100, otherwise the calculations don't add up, but Ofgem don't seem sure themselves and even my supplier (Octopus) is referring to the 2900 value in a recent blog.

I know Ofgem were proposing to change that TDVC value and then postponed the change, has this caused the confusion?

Any insight would be appreciated. I have emailed both Ofgem and Octopus to ask them to clarify but no reply so far

QrizB

double_dutchy said:

There seems to be some confusion about the Typical Domestic Consumption Value (TDCV) for electricity. In the 3rd Feb press release announcing the new price cap Ofgem refer to this as being 2900kWh.....but in their own region/payment method tables they refer to 3100?

The cap (and the table) is calculated on the "old" value of 3100kWh/yr but the headline rate that Ofgem release to newspapers etc. is based on the "new" value of 2900kWh/yr. It makes no sense but it's how Ofgem wants to do it, so we're stuck with it.

molerat

JonVarnas said:

Aauk25 said:

Aauk25 said:

Any experts help me out here, im currently paying £1300 a year and fixed rate ends this month. I have been offered  a 1 year exclusive by Scottish Power which works out £2200 a year fixed till June 2023. Im tempted to switch, im an average user.

any suggestions? 

Thanks 

Electricity 

New.                                Current

Standing charge

21.64p.                             19.31

Primary unit rate

27.02p.                              15.35

) Gas

New

Standing charge

21.64p.                               19.31

Primary unit rate

7.18p.                                  2.88

Should I switch or stay put?

my usage on average is 

14500 Gas and 3900 Electricity

Oof, that's a lot of gas. Is your boiler firing on all cylinders 24/7?

That is only slightly above average and they don't state how big the house is.

double_dutchy

QrizB said:

The cap (and the table) is calculated on the "old" value of 3100kWh/yr but the headline rate that Ofgem release to newspapers etc. is based on the "new" value of 2900kWh/yr. It makes no sense but it's how Ofgem wants to do it, so we're stuck with it.

OK, thanks for the clarification. Seems like a recipe for confusion to me 

Aauk25

JonVarnas said:

Aauk25 said:

Aauk25 said:

Any experts help me out here, im currently paying £1300 a year and fixed rate ends this month. I have been offered  a 1 year exclusive by Scottish Power which works out £2200 a year fixed till June 2023. Im tempted to switch, im an average user.

any suggestions? 

Thanks 

Electricity 

New.                                Current

Standing charge

21.64p.                             19.31

Primary unit rate

27.02p.                              15.35

) Gas

New

Standing charge

21.64p.                               19.31

Primary unit rate

7.18p.                                  2.88

Should I switch or stay put?

my usage on average is 

14500 Gas and 3900 Electricity

Oof, that's a lot of gas. Is your boiler firing on all cylinders 24/7?

Really? apparently this is average. I do live in a detached house with 4 bedrooms and I don’t have upstairs heating on when not required i.e during the day. As per my bill I’m an average user too. Do u live alone in a little bungalow? 

QrizB

wittynamegoeshere said:

QrizB said:

double_dutchy said:

There seems to be some confusion about the Typical Domestic Consumption Value (TDCV) for electricity. In the 3rd Feb press release announcing the new price cap Ofgem refer to this as being 2900kWh.....but in their own region/payment method tables they refer to 3100?

The cap (and the table) is calculated on the "old" value of 3100kWh/yr but the headline rate that Ofgem release to newspapers etc. is based on the "new" value of 2900kWh/yr. It makes no sense but it's how Ofgem wants to do it, so we're stuck with it.

So the comparable figures aren't comparable at all.  Are the headline rise percentages skewed by this bit of creative accountancy, or did they work the new 2900 number into the base level that they were calculating the rise from?

If they're comparing 3100 units at the old price against just 2900 units at the new price then the situation is in fact even worse than is reported.

It was 2900kWh in October 2021 too.

If you want to look back further, all the press rreleases are in the library on Ofgem's website:

https://www.ofgem.gov.uk/master-publications-library

JonVarnas

Aauk25 said:

JonVarnas said:

Aauk25 said:

Aauk25 said:

Any experts help me out here, im currently paying £1300 a year and fixed rate ends this month. I have been offered  a 1 year exclusive by Scottish Power which works out £2200 a year fixed till June 2023. Im tempted to switch, im an average user.

any suggestions? 

Thanks 

Electricity 

New.                                Current

Standing charge

21.64p.                             19.31

Primary unit rate

27.02p.                              15.35

) Gas

New

Standing charge

21.64p.                               19.31

Primary unit rate

7.18p.                                  2.88

Should I switch or stay put?

my usage on average is 

14500 Gas and 3900 Electricity

Oof, that's a lot of gas. Is your boiler firing on all cylinders 24/7?

Really? apparently this is average. I do live in a detached house with 4 bedrooms and I don’t have upstairs heating on when not required i.e during the day. As per my bill I’m an average user too. Do u live alone in a little bungalow? 

I do live alone in a flat, but my gas usage is only 1200kWh a year so seeing 14500kWh is a bit of a "eh, what?"

Aauk25

JonVarnas said:

Aauk25 said:

JonVarnas said:

Aauk25 said:

Aauk25 said:

Any experts help me out here, im currently paying £1300 a year and fixed rate ends this month. I have been offered  a 1 year exclusive by Scottish Power which works out £2200 a year fixed till June 2023. Im tempted to switch, im an average user.

any suggestions? 

Thanks 

Electricity 

New.                                Current

Standing charge

21.64p.                             19.31

Primary unit rate

27.02p.                              15.35

) Gas

New

Standing charge

21.64p.                               19.31

Primary unit rate

7.18p.                                  2.88

Should I switch or stay put?

my usage on average is 

14500 Gas and 3900 Electricity

Oof, that's a lot of gas. Is your boiler firing on all cylinders 24/7?

Really? apparently this is average. I do live in a detached house with 4 bedrooms and I don’t have upstairs heating on when not required i.e during the day. As per my bill I’m an average user too. Do u live alone in a little bungalow? 

I do live alone in a flat, but my gas usage is only 1200kWh a year so seeing 14500kWh is a bit of a "eh, what?"

1200? thats not even low.. that’s literally nothing, it must cost you more for the daily standard charge! than actual usage

double_dutchy

So the comparable figures aren't comparable at all.  Are the headline rise percentages skewed by this bit of creative accountancy, or did they work the new 2900 number into the base level that they were calculating the rise from?

As QrizB says Ofgem were also using 2900 for the current cap, so the reported rise for an average DD consumer - £693 is the headline figure - is based on the 2900. If you're actually using 3100 Kwh (and 12000 Kwh of gas) then the average rise is £708.29.

Perhaps it doesn't matter. Everybody should know that if you use more energy you'll pay more, but why not just use one of those values?