EDF - worth going for the fix?

LCFC_Foxile

schnegge_london said:

Since I'm with EDF I see this for the fix you mentioned 

Electricity standing charge: 365 x 24 p = 87,60
Electricity usage 3850 x 33.94p = 1306

Gas standing charge: 365 x 26.11p = 73
Gas usage: 1062 x  8.844 = 89,63

This is including VAT= 1556

For the SVT you have to add 5% VAT on the numbers above = 1504

So it is indeed close, but you will be slightly better off with the SVT.

You will save on the standing charge, but the price for the electricity usage will be over 200 pounds more. 
And remember that this is the variable part, depending on your usage - let it be a cold winter and this might go up. 
So it is close for you, so think about if the boiler care is worth that money, as this seems to be the only add-on. 
And the question is, if you want that peace of mind to have the prices secured until 2024.

Thanks for this again - really useful to see the figures I arrived at as the same as yours!

By my reckoning, when I go on to the new price cap, my annual bill would be £1434. However, we have to bear in mind that costs are likely to increase again in October, which means 12 months on variable would mean my annual costs will actually be higher than this. And I'm guessing we have to assume that these fixed tariffs will be unavailable & higher too.

So it looks like a 2-year fix with EDF (or if anywhere else is cheaper) seems to be the best bet (unless I've missed something glaringly obvious?!..

Gerry1

LCFC_Foxile said:

- Based on the last 2 years, my annual electricity usage is 3850kw/h & gas is 1062 kw/h

Something seems seriously wrong here.

Apart from consumption being measured in kWh (not kilowatts per hour), your electricity usage is a third above the average whereas your gas usage is less than a tenth of the average.

I suspect you're quoting the volume of gas used in cubic metres, in which case you would have used almost 12,000kWh and therefore your sums will be well adrift.

LCFC_Foxile

Gerry1 said:

LCFC_Foxile said:

- Based on the last 2 years, my annual electricity usage is 3850kw/h & gas is 1062 kw/h

Something seems seriously wrong here.

Apart from consumption being measured in kWh (not kilowatts per hour), your electricity usage is a third above the average whereas your gas usage is less than a tenth of the average.

I suspect you're quoting the volume of gas used in cubic metres, in which case you would have used almost 12,000kWh and therefore your sums will be well adrift.

You're right - I've just spotted that it says m3 to the right of the digits on my gas meter. Does this mean I've been submitting incorrect readings all this time?!

This is what it says on the EDF website - my gas meter is not digital but has the same format. It says nothing about converting the figures into kwH.

Digital meter

Here's a typical gas digital meter:

To read correctly:

• Read the numbers from left to right, ignoring any numbers shown in red
• Ignore any digits in a red surround
• Ignore any printed zeros
• Ignore any digits after the decimal point

double_dutchy

Hello LCFC_Foxile

You are submitting the correct readings, but EDF will convert from M3 to Kwh and bill you in Kwh. To convert you multiply by (roughly) 11.1 (it can vary!).

See this gov.uk site for more info: Gas meter readings and bill calculation - GOV.UK (www.gov.uk)

various online converters are also available

Gerry1

You should send only the volume figure (cubic feet or cubic metres) to the energy company.  They will do the sums to convert it to kWh; the 'strength' of the gas (Calorific Value) can vary, so they have to do the number crunching.  This site (scroll down) shows the calculations.

However, when comparing energy quotations on price comparison websites you should always give your annual consumption in kWh derived from actual meter readings 12 months apart.  Always compare the total annual cost, never the DD amounts because they are only a contribution to a kitty.

LCFC_Foxile

Gerry1 said:

You should send only the volume figure (cubic feet or cubic metres) to the energy company.  They will do the sums to convert it to kWh; the 'strength' of the gas (Calorific Value) can vary, so they have to do the number crunching.  This site (scroll down) shows the calculations.

However, when comparing energy quotations on price comparison websites you should always give your annual consumption in kWh derived from actual meter readings 12 months apart.  Always compare the total annual cost, never the DD amounts because they are only a contribution to a kitty.

Thanks  - for a moment I thought I'd been reading it incorrectly!

Crazy that when you provide a meter reading, you can do so in m3. But when you want to undertake a comparison, it has to be converted into kwh.

Gerry1

LCFC_Foxile said:

Gerry1 said:

You should send only the volume figure (cubic feet or cubic metres) to the energy company.  They will do the sums to convert it to kWh; the 'strength' of the gas (Calorific Value) can vary, so they have to do the number crunching.  This site (scroll down) shows the calculations.

However, when comparing energy quotations on price comparison websites you should always give your annual consumption in kWh derived from actual meter readings 12 months apart.  Always compare the total annual cost, never the DD amounts because they are only a contribution to a kitty.

Crazy that when you provide a meter reading, you can do so in m3. But when you want to undertake a comparison, it has to be converted into kwh.

Not really.  Energy is sold in kWh so ideally gas would be metered and compared in kWh just like electricity.  Electricity meters record kWh directly, so it's not a problem: What You See Is What You Get.

However, gas isn't so easy.  You can only measure the volume that's been used, but that doesn't translate directly into kWh.  The gas may be 'dilute' or 'concentrated', and it varies.  OK, I'm exaggerating a bit, but the 'Calorific Value' does wobble about all the time.  Similarly, there's another adjustment to take account of atmospheric pressure.  It all gets done behind the scenes so it's not a problem, but you must always follow the Golden Rules and only compare the annual costs based on actual meter readings.

Verdigris

Energy is sold in kWh so ideally gas would be metered and compared in kWh just like electricity.  Electricity meters record kWh directly, so it's not a problem: What You See Is What You Get

Liberty Secure smart meters show gas in both cubic metres and kWh. However, I don't know how often the correcting factors are applied. I understand that calorific values are tested weekly, in different area sampling points. I have certainly noticed that the caloritic value in South Wales is higher than where I am in the South West. I assume this is because of the LNG, which has a higher CV, landed at Milford Haven enriches the supply in the Land of Song.

QrizB

bristolleedsfan said:

schnegge_london said:

You can find the new rate caps here (there might be some variations per region, but they are a good indicator)
https://www.moneysavingexpert.com/utilities/what-are-the-price-cap-unit-rates-/

So if you take your usage you can expect
Electricity Standing charge: 365 x 45.34p = 165
Electricity Usage: 3850 Kwh x 28.34p = 1091

Gas Standing Charge: 365 x 27,22p = 99
Gas Usage 1062 KwH x 7,37p = 78

Those rates posted I would expect to include VAT, they are however average rates thus subject to regional variations.

Regional rates for the cap are tabulated at the link in my signature.