Working out my new energy tariff from the Ofcom data?

Elisheba

Hi all,

So from April I'll be on the price cap tariff, and I'm trying to work out what it will be but I'm not sure what all the numbers mean in the Ofcom data.  I think I have worked out some of it, but can anyone help?  

So looking at the docs here https://www.ofgem.gov.uk/publications/default-tariff-cap-level-1-april-2022-30-september-2022 <br>
and specifically this document https://www.ofgem.gov.uk/sites/default/files/2022-02/Default%20tariff%20cap%20level%20-%201%20April%202022%20-%2030%20September%202022.pdf  (the default tariff cap level subsidiary document)

Should I divide the Nil kWh column for my area by 365 to get the daily standing charge?  And then divide the m (3100kwh) column by 3100 to get a kwh unit price? And do this for both gas and electricity?

Also, how do I know whether I am 'Other payment method' or 'standard credit', or whether I am a 'single-rate metering arrangement' or a 'multi-register metering arrangement'?

Thanks all,
Eli

razord

Elisheba said:

Hi all,

So from April I'll be on the price cap tariff, and I'm trying to work out what it will be but I'm not sure what all the numbers mean in the Ofcom data.  I think I have worked out some of it, but can anyone help?  

So looking at the docs here https://www.ofgem.gov.uk/publications/default-tariff-cap-level-1-april-2022-30-september-2022

and specifically this document https://www.ofgem.gov.uk/sites/default/files/2022-02/Default%20tariff%20cap%20level%20-%201%20April%202022%20-%2030%20September%202022.pdf  (the default tariff cap level subsidiary document)

Should I divide the Nil kWh column for my area by 365 to get the daily standing charge?  And then divide the m (3100kwh) column by 3100 to get a kwh unit price? And do this for both gas and electricity?

Also, how do I know whether I am 'Other payment method' or 'standard credit', or whether I am a 'single-rate metering arrangement' or a 'multi-register metering arrangement'?

Thanks all,
Eli

Basically that yes... but, subtract the nil kWh from the 3100 one before you divide it by 3100, as that includes the standing charge too.

"Other payment method" is direct debit. Standard credit is for other post-pay methods, and you're single rate unless you're on an E7 tariff.

double_dutchy

Hello Eli,

Yes, divide the nil Kwh by 365 to get daily standing charge, and add VAT (multiply by 1.05)

To get the unit price you need to deduct the 0 Kwh from the 3100 Kwh first, then divide the result by 3100 and add VAT again.

By my calculations, for example, North West region for gas will have a 7.34 Kwh rate with 27.22 per day SC and for electric a 28.02 Kwh rate with 42.24 daily SC

If you are on monthly DD that's "Other". Multi meter is for Economy 7 type meters where you have different rates for different times of day.

Gerry1

Nothing from Ofgem is ever in plain English.  You've basically got the idea, although if they choose the maximum standing charge they can't have the maximum kWh rate and vice versa.  Your energy company may also choose to be slightly below the cap to get a competitive advantage.

Other payment = Direct Debit, Standard credit = Cash / Cheque = Pay on Receipt of Bill.

'Single-rate metering arrangement' = normal single rate, 'multi-register metering arrangement' = two rate meter, typically Economy 7 for storage heaters.

Elisheba

Thanks all, I think I've got it.  So that is a 43p standing charge on electricity on average?  And 26p standing charge on gas- before VAT (by DD, not on E7). That really is a pretty hefty increase before you even get to the unit prices!

Ofcom do seem to make things complicated.  Not sure why they don't have another table with the daily standing charge per region and the kwh unit price for each fuel.  I'm not an average, I'm a completely unique person, so would like to be able to work out my own costs rather more simply than the table allows.

QrizB

Elisheba said:

Thanks all, I think I've got it.  So that is a 43p standing charge on electricity on average?  And 26p standing charge on gas- before VAT (by DD, not on E7). That really is a pretty hefty increase before you even get to the unit prices!

If it helps you (or anyone else reading this), I've done the sums for every region. You''l find a table at the link in my signature.