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

QrizB

Sterlingtimes said:

MattMattMattUK said:

It is not a loan in the normal sense. However, every residence account open in October will receive it and every residential account open at the relevant point in the next five years will pay the surcharge.

Overall almost everyone will lose out because of this, some of us will however lose out more than others.

Every account receives £200. But does every resident repay £200 literally or will the unit rate be increased to recover the amount of the whole Government loan, i.e. will the burden of the repayment be shared unequally?  

We're (OK, I'm) expecting the standing charge to be increased (by around 11p/day) to recover this advance, not the unit rate.

wrf12345

So what some clever chap needs to do is sell small gas generators for home use and switch off the electric!

QrizB

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?

Not that I'm expecting @Andy1T back to comment (or @BobSteel who made a similar comment on the "LPG and Oil" sub-forum, or even @stevew01 who posted the same a couple of weeks ago), but if gas rises to 7p/kWh it will be more expensive than either oil or LPG.

A litre of oil contains 10kWh of energy and is 50-60p (5-6p/kWh). A litre of LPG contains 7kWh and is around 40p (6p/kWh).

k_man

QrizB said:

A litre of oil contains 10kWh of energy and is 50-60p (5-6p/litre). A litre of LPG contains 7kWh and is around 40p (6p/litre).

/litre or /kWh ?

QrizB

k_man said:

QrizB said:

A litre of oil contains 10kWh of energy and is 50-60p (5-6p/litre). A litre of LPG contains 7kWh and is around 40p (6p/litre).

/litre or /kWh ?

kWh. I'll correct my post.

wolvoman

If you know the price goes up on April 1st, make sure your Feb/Mar meter reads reflect how much extra you’ve used than normal. 😉

mdjuergens

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.

https://www.ofgem.gov.uk/publications/default-tariff-cap-level-1-april-2022-30-september-2022  has the information in a comprehensive and fairly impenetrable spreadsheet.

1. Find your region

2. look at the nil use for both gas and electricity - adding 5% VAT to that gives you the annual standing charge. Average for the UK £157.60+5%=£165.48 (45.34 p/d) for electric and on direct debit and £94.62+5%=£99.35 (27.22 p/d)  for gas

3. Then find the "typical use" price for your region, add 5% VAT, take off the standing charge and divide the rest by what a "typical" user apparently uses: 12000 kWh per year for gas and 3100 kWh for electricity and you get the price per kWh. Average for the UK on Direct Debit comes out as: 7.37 p/KWh for gas and 28.34 p/kWh for electric.

There are small variations depending on the region and slightly higher prices if you don't pay by direct debit or have an economy 7 meter.

Briskly

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.  

Briskly

QrizB 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?

Not that I'm expecting @Andy1T back to comment (or @BobSteel who made a similar comment on the "LPG and Oil" sub-forum), but if gas rises to 7p/kWh it will be more expensive than either oil or LPG.

A litre of oil contains 10kWh of energy and is 50-60p (5-6p/kWh). A litre of LPG contains 7kWh and is around 40p (6p/kWh).

If it wasn't for the duty and VAT it would be cheaper to burn petrol! No standing charge either.....

mdjuergens

roddydogs said:

So what happens to the "loan" if you die, move house or change provider within 5 yrs?

I guess changing providers or moving house doesn't matter as it applies equally to all suppliers and addresses. If you no longer have your own household because you die or move in with the in-laws you "win" as the people forming a new household by moving into your house will have to take over paying your loan ...