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Guide: What are the price cap unit rates?

in Energy
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  • SoutieSoutie Forumite
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    Current EON Next quote on variable: Gas 14.76 per KwH and Electricity 51.57 per KwH.  How does that stack up with rates quoted by MSE under new "cap" of Gas 10.29 and Electricity 34.00??
  • brewerdavebrewerdave Forumite
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    Soutie said:
    Current EON Next quote on variable: Gas 14.76 per KwH and Electricity 51.57 per KwH.  How does that stack up with rates quoted by MSE under new "cap" of Gas 10.29 and Electricity 34.00??
    Not yet updated their website ? Other Utility Cos. are starting to show the new post 0ct.1st "cap" if you look to change your tariff.
  • Soutie said:
    Current EON Next quote on variable: Gas 14.76 per KwH and Electricity 51.57 per KwH.  How does that stack up with rates quoted by MSE under new "cap" of Gas 10.29 and Electricity 34.00??
    Cap doesn't start until 1 Oct - they don't need to be showing you the cap numbers until then.
  • ShringShring Forumite
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    This morning I received notification from Shell Energy about my new Economy 7 capped rates from 1st October.  The night rate electricity will go up from 18.579p to 19.922p per kWh and the day rate will go up from 33.666p to 40.703p per kWh and the standing charge per day is changing from 38.00p to 39.02p

    Gas will go up from 7.344p to 10.309p per kWh and the standing charge per day is changing from 27.22p to 28.48p.

    From all the media reports, I understood the electricity unit rate cap  from 1st October to be 34p per kWh and gas to be 10p per kWh

    Ofgem are showing maximum capped rates of :

    Electricity £0.52 per kWh

    Gas 46p per kWh

    ofgem.gov.uk/check-if-energy-price-cap-affects-you










  • ShringShring Forumite
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    UK Gov states :
    If you’re on a standard variable tariff

    The average unit price for dual fuel customers paying by direct debit will be limited to 34.0p/kWh for electricity and 10.3p/kWh for gas, inclusive of VAT, from 1 October.

    gov.uk/government/publications/energy-bills-support/energy-bills-support-factsheet-8-september-2022

    It appears that these rates have changed, according to Ofgem and the latest rate news from Shell.



  • edited 22 September 2022 at 8:28AM
    ApodemusApodemus Forumite
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    edited 22 September 2022 at 8:28AM
    Are you confusing different terms:  Average, Maximum and your actual rate - which is above the average, but below the maximum.?
  • Shring said:
    This morning I received notification from Shell Energy about my new Economy 7 capped rates from 1st October.  The night rate electricity will go up from 18.579p to 19.922p per kWh and the day rate will go up from 33.666p to 40.703p per kWh and the standing charge per day is changing from 38.00p to 39.02p

    Gas will go up from 7.344p to 10.309p per kWh and the standing charge per day is changing from 27.22p to 28.48p.

    From all the media reports, I understood the electricity unit rate cap  from 1st October to be 34p per kWh and gas to be 10p per kWh

    Ofgem are showing maximum capped rates of :

    Electricity £0.52 per kWh

    Gas 46p per kWh

    ofgem.gov.uk/check-if-energy-price-cap-affects-you










    You’re comparing the average single-rate cap to your specific regional E7 rate.  That just doesn’t work.

    Your new rates look normal.
  • moleratmolerat Forumite
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    The OFGEM rates you have quoted are the old price cap which has been replaced by the price guarantee. 
    The new prices for gas are around 10.4p and electric around 34p for single rate, you are on a dual rate which is more complex and not limited by that 34p.

  • edited 22 September 2022 at 9:39AM
    MWTMWT Forumite
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    edited 22 September 2022 at 9:39AM
    Shring said:
    This morning I received notification from Shell Energy about my new Economy 7 capped rates from 1st October.  The night rate electricity will go up from 18.579p to 19.922p per kWh and the day rate will go up from 33.666p to 40.703p per kWh and the standing charge per day is changing from 38.00p to 39.02p

    Gas will go up from 7.344p to 10.309p per kWh and the standing charge per day is changing from 27.22p to 28.48p.



    Based on those numbers, I'd guess you were in the Eastern region, and they are entirely consistent with the cap for E7 electricity + gas paid by DD.
    As ever you just have to get used to the fact that there isn't just one cap, there are many, with different answers for each region, metering type and payment method.
  • pensionpawnpensionpawn Forumite
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    Shring said:
    This morning I received notification from Shell Energy about my new Economy 7 capped rates from 1st October.  The night rate electricity will go up from 18.579p to 19.922p per kWh and the day rate will go up from 33.666p to 40.703p per kWh and the standing charge per day is changing from 38.00p to 39.02p

    Gas will go up from 7.344p to 10.309p per kWh and the standing charge per day is changing from 27.22p to 28.48p.

    From all the media reports, I understood the electricity unit rate cap  from 1st October to be 34p per kWh and gas to be 10p per kWh

    Ofgem are showing maximum capped rates of :

    Electricity £0.52 per kWh

    Gas 46p per kWh

    ofgem.gov.uk/check-if-energy-price-cap-affects-you










    Blimey! Although compared to my email yesterday your day rate is plus 0.254p and your night rate is plus 1.06p, your standing charge is -5.48! Your gas unit rate is -0.148, s/c the same. Some interesting calculations have happened there.
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