Double Bill Increase Estimate

caveman38

I am a BG & EON customer on quarterly bills and Standard Tariffs. The recent news stated that the removal of the cap would increase my energy bills by approx. 54%. I have just had confirmation from BG (online quote & telephone call) that my gas alone will nearly double. Current & New tariff: 4.272 per kwh & 30.783 per day increases to 7.947 & 47.222 in money terms £780 to £1595. Therefor my gas bill will be double alone and have yet to work out my electric.
I was also told that those on a fix paying less than me would see a bigger increase than me as the fixed tariff I was quoted is the cheapest.
Have I missed something and has the government got their figures wrong re. percentages?  

emmajones1976

Based on the figures you provided I dont you were on the cap to begin with.

What is the name of the CURRENT rate you are on?

All fixes being offered now will likely be higher than the April cap.

caveman38

emmajones1976 said:

No, based on the figures you provided you werent on the cap to begin with.

What is the name of the CURRENT rate you are on?

it was called Standard

emmajones1976

Hmm maybe you were then. 

Bear in mind the 54% that was quoted was based on a) an average user, and b) a gas and electric user. The revised April caps seem to have put the brunt of the increase on the gas element 

TheMilkmansDad

From MSE website:Average price-capped rates

	Current price cap  (until 31 March)	New price cap (from 1 April)
Gas	Unit rate: 4.07p per kWh Standing charge: 26.12p per day	Unit rate: 7.37p per kWh Standing charge: 27.22p per day
Electricity	Unit rate: 20.8p per kWh Standing charge: 24.88p per day	Unit rate: 28.34p per kWh Standing charge: 45.34p per day

Your standard appears to be above the price cap as Emma says. What is the exact name of the tariff and region of the country are you in? It's also worth noting the the 54% is over the two, it seems to be more weighted towards Gas so Electric will probably be under the 54% (hopefully a lot!)

TheMilkmansDad

either i've copied the wrong thing or you've used the wrong gas standing charge for your figures - maybe knock £100 off?

TheMilkmansDad

Think I'm having a bad maths day so apologies in advance!

The figures you've used to get £1,595 equates to approx. £170 standing charge and £1,425 usage - that's 17,930 units.
Using your current tariff figures you get £112 standing charge and £1,300 usage giving a total of £1412?
Where does the figure of £780 come from? I have a feeling I've missed something here

caveman38

TheMilkmansDad said:

From MSE website:Average price-capped rates

	Current price cap  (until 31 March)	New price cap (from 1 April)
Gas	Unit rate: 4.07p per kWh Standing charge: 26.12p per day	Unit rate: 7.37p per kWh Standing charge: 27.22p per day
Electricity	Unit rate: 20.8p per kWh Standing charge: 24.88p per day	Unit rate: 28.34p per kWh Standing charge: 45.34p per day

Your standard appears to be above the price cap as Emma says. What is the exact name of the tariff and region of the country are you in? It's also worth noting the the 54% is over the two, it seems to be more weighted towards Gas so Electric will probably be under the 54% (hopefully a lot!)

The price I quoted was for a fix. BG said that they didn't have a standard per kwh price from April. They said the price would be available from mid March. Therfore price may be less than 7.947 but assuming prices go up again in October (as predicted) then the fix may work out cheaper. The tariff is Standard and it's BG London.
Your 7.37 price cap, did it apply to BG?

caveman38

Think I'm having a bad maths day so apologies in advance!

The figures you've used to get £1,595 equates to approx. £170 standing charge and £1,425 usage - that's 17,930 units.
Using your current tariff figures you get £112 standing charge and £1,300 usage giving a total of £1412?
Where does the figure of £780 come from? I have a feeling I've missed something here

The last 4 quarterly bills I paid total £789.94 and the tariff was 4.272 & 30.782. The fix I was offered was £1595 with a tariff of 7.947 & 47.222. I realize after ringing them again that the Standard tariff may be cheaper when released in mid March - although it is likely to go back up in October.
The usage BTW was 18,312 kwh

QrizB

caveman38 said:

TheMilkmansDad said:

Your standard appears to be above the price cap as Emma says. What is the exact name of the tariff and region of the country are you in? It's also worth noting the the 54% is over the two, it seems to be more weighted towards Gas so Electric will probably be under the 54% (hopefully a lot!)

The price I quoted was for a fix. BG said that they didn't have a standard per kwh price from April. They said the price would be available from mid March. Therfore price may be less than 7.947 but assuming prices go up again in October (as predicted) then the fix may work out cheaper. The tariff is Standard and it's BG London.
Your 7.37 price cap, did it apply to BG?

You'll find a table with the capped tariff rates for every region at the link in my signature.