Electricity kw prices from 1st April.

[Deleted User]

Hello and sorry in advance if these questions have already been asked, 

Verdigris

It varies a bit by area but about 28p/kWh and 50p/day SC.

https://forums.moneysavingexpert.com/discussion/comment/78957887/#Comment_78957887

Verdigris

It'll be after the 1st March before suppliers announce how they've "interpreted" the Ofgem rates. They have a bit of wiggle room between unit rate and SC. E7 etc will be announced then, too.

QrizB

ImDoingItForMe said:

Thank you.
I also forgot to say in on economy 7 and the person I spoke to was gas and electric. 

I see you've got the link to my explainer

E7 is more complicated, for reasons shown in this post. If you use roughly equal amounts of Day and Night-rate electricity youe electricity bill should work out slightly less than if you were using it all on a single-rate tariff; if you use much more Day than Night, it will be a little bit more expensive.

What are your estimated annual consumption figures?

QrizB

ImDoingItForMe said:

Hi. I've just spent a while getting the details.
I'm a very low user (1 person household)
These are from 3rd march 2021 to today

990kwh night rate

1353kwh day rate 
As the weather has been mild I've not used the storage heaters much.
Daily standing charge 16.44
Night rate 10.26
Day rate 20.88
Scottish power fixed until 30/4/22.
I've worked out my bill for this year from these dates. Part of the time I was on another tarrif (from 3/3/21 to 29/4/21).
But overall my usage is £427.44 approximately so far.
I religiously read my meter as I'm on a low income but don't qualify for any help. 
Edited to say I'm in the Eastern Region.

Thanks for the info.

With that sort of split  40% night, 60% day - you're likely to be better off on the E7 rates rather than a single-rate tariff. This means that my next calculation will be pessimistic, ie. your costs will be lower than the number I give, but we won't know how much less until SP publish their new variable rates.

For someone using 2343kWh/yr of single-rate electricity, their annual bill on the April cap will be around £830/yr.

QrizB

ImDoingItForMe said:

Are any of the above three any good? compared to what the SVR will be from 1st April 2022?

I'm getting a bit confused

I need to go to bed but here goes.

• Current fix (expires soon): £444/yr
• Capped rate from April, single-rate: £830/yr
• One-year fix: £716/yr
• Two-year fix, no exit fee: £804/yr
• Two-year fix, £30 exit fee: £798/yr
  

Personally, I think the one-year fix looks tempting, your average price per kWh is just under 27p.

If you really want the two-year fix, there's only £6 in it between the two.

NittyGritty

i asked british gas the same question regarding when will we know the new price cap rates, and i was told it would release them on 1st march, (i,m assuming its 30 days notice) before april