Guide: What are the price cap unit rates?

Spoonie_Turtle

aussiescall said:

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.

…

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

And what are you being charged?

The actual price caps are total annual figures.  The unit rates and standing charges have to be calculated from the annual totals and the cap on how much someone would pay if they used nil kWh.

It's frustratingly not as simple as Ofgem publishing unit rates and standing charges for each region and payment method, they have to be worked out from what's actually published.  And if I could remember how to find the Ofgem tables I'd find them and link them.  Hopefully someone else will be able to instead.

QrizB

Spoonie_Turtle said:

aussiescall said:

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.

…

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

Hopefully someone else will be able to instead.

There's a link to my table in my signature.

Edit: here.

From my table, the tariff you quote matches the Ofgem cap for your region.

ArbitraryRandom

QrizB said:

Spoonie_Turtle said:

aussiescall said:

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.

…

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

Hopefully someone else will be able to instead.

There's a link to my table in my signature.

Edit: here.

From my table, the tariff you quote matches the Ofgem cap for your region.

And those are the rates now until 1 Jan, yes? (and thank you for working it out for everyone). 

QrizB

ArbitraryRandom said:

QrizB said:

Spoonie_Turtle said:

aussiescall said:

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.

…

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

Hopefully someone else will be able to instead.

There's a link to my table in my signature.

Edit: here.

From my table, the tariff you quote matches the Ofgem cap for your region.

And those are the rates now until 1 Jan, yes? (and thank you for working it out for everyone). 

Yes, Oct-Dec. I intend to produce a new table for Jan-Mar when the new cap is announced.

aussiescall

Spoonie_Turtle said:

aussiescall said:

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.

…

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

And what are you being charged?

The actual price caps are total annual figures.  The unit rates and standing charges have to be calculated from the annual totals and the cap on how much someone would pay if they used nil kWh.

It's frustratingly not as simple as Ofgem publishing unit rates and standing charges for each region and payment method, they have to be worked out from what's actually published.  And if I could remember how to find the Ofgem tables I'd find them and link them.  Hopefully someone else will be able to instead.

Ah so MSE are having to manually calculate the figures they have then? I assumed they got them straight from ofgem. Ofgem didn't explain this to me. I'm getting charged 6.93/27.47 and 28.26/60.18 on the flexible tariff and was trying to work out whether to fix for 12 months with Octopus. The fix was on the same rates. So I wanted to compare to the actual cap rates for my region. But neither Octopus or Ofgem seemed to be able to tell me what they are. The only place I saw them was on MSE. So the difference is about 3p per day on the standing charges and the unit rates are the same. So I'm gambling on those caps not coming down by more than 3p on the standing charges and unit rates cap staying same

Spoonie_Turtle

aussiescall said:

Spoonie_Turtle said:

aussiescall said:

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.

…

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

And what are you being charged?

The actual price caps are total annual figures.  The unit rates and standing charges have to be calculated from the annual totals and the cap on how much someone would pay if they used nil kWh.

It's frustratingly not as simple as Ofgem publishing unit rates and standing charges for each region and payment method, they have to be worked out from what's actually published.  And if I could remember how to find the Ofgem tables I'd find them and link them.  Hopefully someone else will be able to instead.

Ah so MSE are having to manually calculate the figures they have then? I assumed they got them straight from ofgem. Ofgem didn't explain this to me. I'm getting charged 6.93/27.47 and 28.26/60.18 on the flexible tariff and was trying to work out whether to fix for 12 months with Octopus. The fix was on the same rates. So I wanted to compare to the actual cap rates for my region. But neither Octopus or Ofgem seemed to be able to tell me what they are. The only place I saw them was on MSE. So the difference is about 3p per day on the standing charges and the unit rates are the same. So I'm gambling on those caps not coming down by more than 3p on the standing charges and unit rates cap staying same

Octopus for Direct Debit charge unit rates at the cap and the standing charge c.4% below (overall, between gas and electricity).

I'm not 100% sure who calculates it all and how, sorry.  But I guess if everyone is doing the same calculations with the same figures it should come out the same? *shrug*

[Deleted User]

1. Could you update the this bit to specifically state that the "Here's our ESTIMATE of your new annual equivalent rate" graph below it does/doesn't include the daily standing charge please.

Important (please read before using the calc):
1) This tool is only for those in England, Scotland and Wales.
2) It's for standard tariffs under the Price Cap, not fixed deals or Economy 7/10
3) It doesn't factor in any debt or credit on your account.
4) It's not 100% accurate as each firm charges slightly different rates, but it should be in the right ballpark.
5) The tool gives an annual equivalent price under the Price Cap rates from April, but this will change again in July.

2. If it doesn't include the standing charge could that be included, possible as a stacked bar graph (if it makes sense not sure what percentage of it would show as standing charges vs. tariff).

Just I am confused as not sure if I need to add the standing charge on top of the est. figure or not when comparing it against my suppliers usage info.

Otherwise great article.

MattMattMattUK

[Deleted User] said:

1. Could you update the this bit to specifically state that the "Here's our ESTIMATE of your new annual equivalent rate" graph below it does/doesn't include the daily standing charge please.

Important (please read before using the calc):
1) This tool is only for those in England, Scotland and Wales.
2) It's for standard tariffs under the Price Cap, not fixed deals or Economy 7/10
3) It doesn't factor in any debt or credit on your account.
4) It's not 100% accurate as each firm charges slightly different rates, but it should be in the right ballpark.
5) The tool gives an annual equivalent price under the Price Cap rates from April, but this will change again in July.

2. If it doesn't include the standing charge could that be included, possible as a stacked bar graph (if it makes sense not sure what percentage of it would show as standing charges vs. tariff).

Just I am confused as not sure if I need to add the standing charge on top of the est. figure or not when comparing it against my suppliers usage info.

Otherwise great article.

The bar chart does include the standing charge.

Lawrence72

Has anyone just switched to a one year deal which is good before the price's change in July?? A decent company too that is? I've looked and I'm torn who to go with. I definitely want a decent customer service too.