Guide: What are the price cap unit rates?

QrizB

EssexHebridean said:

Zoobzi37 said:

I got my yearly statement yesterday from BG. I am £131 in debt or the 12 months.

How often do BG bill? Surely not only annually?

It's not exactly a bill, it's the annual review. See SparkyGrad's post here (and the one he's replying to)

How come it’s taken you a year to realise that the new DD figure means that not only are you running into debt - worse, you’ve not built the credit that you needed ahead of the winter months either?

"Credit for the winter months" is for the convenience of the energy companies, not the consumer.

You're meant to be at or near a zero balance when your annual reconciliation occurs. If the reconciliation occurs in September, it's inevitable that you'll spend the winter with a negative account balance and only catch up late in the following summer.

This is entirely normal and is not a cause for concern.

Steve_79_P

Good point @QrizB I had missed the annual statement bit. I would say given the volatility over the last 12 months then the estimate last year was pretty reasonable to end up only £130 ish out.

Assuming the supplier will readjust the estimates for the next 12 months (probably add about 70% as the this statement would have covered two price cap increases) then add the debt at around £11 a month, that's what I would be looking to increase the DD to, if I were in that situation.

NorthofNorth

I am struggling to understand our position.  We are both a home and a business - in that we are a farm.  We were on a fixed business tariff until 20th September when we were by default put onto a flexible business tariff as we were told no fixed business tariffs were available.  What is the energy cap price for us in this position - currently being charged 46.64p/kWh and do we qualify for the £400 discount?  Can anyone help?

[Deleted User]

If you have a business account, you will not get the £400 and the normal EPG cap does not apply to you.

There is something else (a lot more complicated) that applies to business accounts, that caps one component of the calculation behind the tariff and not either the unit rate or the standing charge directly.

molerat

NorthofNorth said:

I am struggling to understand our position.  We are both a home and a business - in that we are a farm.  We were on a fixed business tariff until 20th September when we were by default put onto a flexible business tariff as we were told no fixed business tariffs were available.  What is the energy cap price for us in this position - currently being charged 46.64p/kWh and do we qualify for the £400 discount?  Can anyone help?

You won't qualify for the £400 if you have a business account.  Business help has not been fully sorted yet.

Stevev99

So moved to smart meters in July and weirdly our monthly bills dropped by around £80 having accurately entered meter readings manually previously.
Shell Energy increased our monthly DD to £320 in August and I went along with it perceiving huge hikes before 2 year cap assistance.
We’re in October, my Summer usage for gas and electricity is about £140 currently on each bill incl Sept just paid, I’m £638 in credit and they want to move my DD to £420!!! 

On what planet can they calculate my yearly usage to be nearly £5k when moneysaving expert calculations come in around the £3k mark after price cap rise and Govt £66 per month credit?
I honestly don’t understand their calculations.

vade01

Thanks for the price cap calculator. What it doesn't seem to take into account is that summer usage will reduce consumption and therefore cost. Hopefully by the autumn prices will have reduced, but who knows. I will not be increasing my direct until the autumn.

Zoobzi37

Will Martin please stop talking about an EPG of £2 5k. He is doing it almost every day.
There is absolutely no EPG of £2.5k
Its its not being left at £2.5k because it doesn't exist. 
You pay for what you use. 
Martin please stop using this fictional £2.5k figure because you are confusing a lot of people. Many vulnerable people may consequently think that the most they will pay is this fictional figure. And given the frequency of its use, that's hardly surprising.
So please show some respect for people and stop confusing them. 
There's absolutely no need for it 

Qyburn

Zoobzi37 said:

Will Martin please stop talking about an EPG of £2 5k. He is doing it almost every day.
There is absolutely no EPG of £2.5k
Its its not being left at £2.5k because it doesn't exist. 
You pay for what you use. 
Martin please stop using this fictional £2.5k figure because you are confusing a lot of people. Many vulnerable people may consequently think that the most they will pay is this fictional figure. And given the frequency of its use, that's hardly surprising.
So please show some respect for people and stop confusing them. 
There's absolutely no need for it 

Well said, couldnt agree more.

aussiescall

Does anyone know where MSE gets the below info from please? The unit rates and standing charges for gas and electric for North Wales and Mersey from 1/10/23 for direct debit payments.

I asked Octopus what they were and they couldn't answer me. They just kept telling me what they charge for my region and the caps are the same. But they are not the same as on MSE.  I kept asking how do they know they charge the same (or less) than the caps if they don't know the caps. I asked ofgem and they told me to ask Octopus. I did ask ofgem don't you set these. They just said to ask Octopus and won't reply to me again on the matter.

But where then does MSE get these figures from. If it's not Ofgem then who. If it is often why won't they confirm?

North Wales & Mersey    Unit rate: 6.93p per kWh     Standing charge: 29.62p per day     Unit rate: 28.26p per kWh     Standing charge: 62.23p per day