EDF Standard Variable Calc (when will suppliers update their SVTs?)

rodp_2

Hi All,

I don't believe the EDF standard variable that is in this screen shot attached.  But to be sure, please could I ask for some help to verify my maths.

They are saying that when my tariff expires on (31st March 2022)  on the 1st April I will be moved to a standard variable rate which is only about 35% more than what I am paying currently.  I've pulled off the ofgem default tables for Oct '21 - Mar '22 and Apr '22 to Sept '22 and from my rough calcs it is looking like EDF have not updated their figures yet or are not catering for people who's current tarrifs end on 31st March.  This is a major worry as this also brings up an issue with MSE Cheap Energy Club as that too is then reporting the wrong figure (in terms of savings / on-costs), making you think that the standard variable is much much cheaper than other deals on offer and encouraging you to stick on the standard variable but in fact it's not the truth (although please verify my maths first!)

FYI: Post Code: CH60 (meaning you use the Mersey row in the tables).  Use the 'Other payment method' in the tables.  Single elec meter (so that's using the 3,100kwh usage table).

-----------------------------------
 EDF Direct Energy Mar22:

	p/day	p/kwh	inc vat
gas	20.79	2.87
elec	17.67	17.67

-----------------------------------
EDF's reported Standard Variable,  which EDF and CEC are reporting (from 1st April) (info taken 13/2/22)

	p/day	p/kwh	inc vat
gas	26.12	4.066
elec	23.50	21.99

-----------------------------------
Std Var cap: Ofgem Calc for Oct '21 - Mar '22 (https://www.ofgem.gov.uk/sites/default/files/2021-08/Default tariff cap level - 1 October 2021 - 31 March 2022.pdf, N Wales and Mersey, Other Payment Method, average usage gas: 12kwh, elec: 3,100kwh)

Gas N Wales and Mersey £90.81 £555.45

Elec N Wales and Mersey £81.69 £731.10

£, 365 days	£, /usage	usage	ex vat
	90.81	555.45	12000
	81.69	731.1	3100
	p/day	p/kwh	inc vat
gas	26.12	4.86
elec	23.50	24.76

<<it's these figures which I'm needing to verify>>


-----------------------------------
Std Var cap: Ofgem Calc for Apr '22 - Sep '22 (https://www.ofgem.gov.uk/sites/default/files/2022-02/Default tariff cap level - 1 April 2022 - 30 September 2022.pdf, N Wales and Mersey, Other Payment Method, average usage gas: 12kwh, elec: 3,100kwh)

Gas N Wales and Mersey £94.62 £936.39

Elec N Wales and Mersey £165.40 £1,038.84

	£, 365 days	£, /usage	usage	ex vat
	94.62	936.39	12000
	165.4	1038.84	3100
	p/day	p/kwh	inc vat
gas	27.22	8.19
elec	47.58	35.19

<<it's these figures which I'm needing to verify>>

You can see here that the EDF current Standard Variable (as reported of 13/12/22) is quite close to the Ofgem caps of Oct '21 - Mar '22.  So (and if you can kindly confirm my calcs are correct) I can only assume that it's not yet reflecting the future Ofgem caps.  This is a big worry as it means that no comparison site, not even CEC is going to show the real on-cost which, if my calculations are correct, is going to be about 147% increase (ouch!!).

My nominal annual usage is... gas: 20k kwh, elec 2k kwh.  If you do the maths, my annual cost was 1072 (89pcm) and it will go up to 2,615 (217pcm) (Wow!!!!), if my assumption is correct about the info being incorrect on EDF and CEC.  (Other than the Std Variables, 'SO Energy'  seems to be the cheapest deal at £218pcm which is pretty close to what my calcs show).  So the call I need to make is whether in September 2022 the standard variable is likely to go up again and when it might go down again.  eg. what price should I consider to be acceptable locking into now and for how long (you don't need to answer that as that is not the purpose of the question).  It seems impossible for the price to go much higher but I guess staying on the std variable is the best at present and it's more about catching the good deals when they come in.

Thanks in advance for your support and helping confirm my calcs.

Rodp

QrizB

EDF (and all the other suppliers) need to give 28 days notice of increases in variable tariffs.

I don't expect to find out the new rates until early March.

rodp_2

QrizB said:

EDF (and all the other suppliers) need to give 28 days notice of increases in variable tariffs.

I don't expect to find out the new rates until early March.

ah!  Thanks QrizB.  Thanks for that.  Not spotted that in the T&C's but guess it will be there somewhere.  Interesting to know that the customer support team haven't mentioned that point to me.

So that means I need to ignore all standard variables and just rely on looking at the physical rates.

That leaves the final check, are my calcs correct?

Thanks

Rodp

QrizB

rodp_2 said:

That leaves the final check, are my calcs correct?

For 20,000kWh of gas and 2,000kWh of electricity, in your region and using the April 22 rates from here, I get £2339/yr.

rodp_2

QrizB said:

rodp_2 said:

That leaves the final check, are my calcs correct?

For 20,000kWh of gas and 2,000kWh of electricity, in your region and using the April 22 rates from here, I get £2339/yr.

Hi QrizB,

In the table you linked to (thanks for providing that) what was formula for the gas ppKWH giving a rate of 7.37p?  My calc is giving me 7.8 and that's not adding VAT.  I thought the ofgem tables were excluding VAT but that's in material at the moment as I can't match your number.  I've got £936.39 / 12000kwh * 100 = 7.80ppkwh.  Likewise my calculated elec rate is much higher than in your table (29.58 vs mine 35.19 or 33.51 without adding vat) too but I'm using the same starting figures as you.  What am I going wrong?

Thanks

Rodp

QrizB

rodp_2 said:

QrizB said:

rodp_2 said:

That leaves the final check, are my calcs correct?

For 20,000kWh of gas and 2,000kWh of electricity, in your region and using the April 22 rates from here, I get £2339/yr.

I've got £936.39 / 12000kwh * 100 = 7.80ppkwh.

I see the problem

The £936.39 includes the £94.62 Standing Charge. The calculation is £841.77 / 12000 * 100 = 7.01475p/kWh.

Then add 5% VAT and you get 7.365...p/kWh which I've rounded to 7.37p.

And the same for the electricity unit rate.

rodp_2

Ah!  I understand now.  Thanks so much for that.  That all works out now.  So annual cost more likely to be (2337.80 or 194.82pcm - still massive on cost!).  I find the way that ofgem presents the data in their tables rather odd but I don't work in the energy industry so maybe that's the normal way.

Thanks again for the explanation

Rodp