Bulb Price Increase

KBarr

Apologies as I'm struggling to understand the way the price cap of £1,971 works ?

Bulb are suggesting a monthly increase for our dual fuel of £186 (£2,232 pa), from £257 per month to £443 ?

markin

Its price cap to new price cap, if you had a good fixed deal it will be far more than 54%, Or if you have a different gas Elec mix than what the 54% is based on.

https://www.ofgem.gov.uk/publications/price-cap-increase-ps693-april

QrizB

KBarr said:

Apologies as I'm struggling to understand the way the price cap of £1,971 works ?

Bulb are suggesting a monthly increase for our dual fuel of £186 (£2,232 pa), from £257 per month to £443 ?

@KBarr there's a link in my signature to an explanation of the Ofgem price cap. It's a cap on the standing charge and unit price, not a cap on your total bill.

Spacie22

Singlespeeder said:

I’m not sure why the charges vary depending on where you are in the country… unless you’re really remote is which case you’d not be on mains anyway 

It depends which distribution network you are on. And that goes all the way back to before privatisation. I'm in  Gloucestershire which is usually South West, but long ago my electricity was supplied by the Midlands Electicity Board and I'm still paying the West Midlands rates for my electicity (fortunately)

Ken_MSE

I've seen comments in the posts about the standing charge for electricity doubling - I can't find any explanation or justification for this increase ?

Also since the Bulb tariff was for electricity sourced from 100% renewables then why the massive unit rate increase ?

QrizB

Welcome to the forum.

Ken_MSE said:

I've seen comments in the posts about the standing charge for electricity doubling - I can't find any explanation or justification for this increase ?

Also since the Bulb tariff was for electricity sourced from 100% renewables then why the massive unit rate increase ?

Your questions are answered by the pinned post at the top of the list.

Energy price cap - your questions answered

[Deleted User]

Ken_MSE said:

Also since the Bulb tariff was for electricity sourced from 100% renewables then why the massive unit rate increase ?

This ‘cut ‘n’ paste’ from the Bulb website explains where their energy is sourced from:

100% renewable electricity

Quote: We buy some of our electricity (about 4.5%) straight from renewable generators around the UK. And we buy the rest on the wholesale energy market. For every unit of electricity our members use, we buy a renewable generation certificate (called a REGO) to match. We like to think of it as a fair balance between what’s good for the planet, and good for your pocket.

REGO certificates help us verify the amount of renewable energy we supply to the industry regulator, Ofgem. Every year, like all suppliers, we report on the amount of electricity we've purchased from which source: coal, gas, nuclear and renewables. For Bulb, it's simple: 100% of our electricity comes from renewable sources like solar, wind and hydro. Unquote

Ken_MSE

QrizB said:

Welcome to the forum.

Ken_MSE said:

I've seen comments in the posts about the standing charge for electricity doubling - I can't find any explanation or justification for this increase ?

Also since the Bulb tariff was for electricity sourced from 100% renewables then why the massive unit rate increase ?

Your questions are answered by the pinned post at the top of the list.

Energy price cap - your questions answered

Yes, but post doesn't really justify standing charge increase - we are either paying for the cost of failed companies, the transfer of suppliers or the cost of the storms ?

Verdigris

we are either paying for the cost of failed companies, the transfer of suppliers or the cost of the storms ?

We're paying for both.

GingerTim

Ken_MSE said:

drizB said:

Welcome to the forum.

Ken_MSE said:

I've seen comments in the posts about the standing charge for electricity doubling - I can't find any explanation or justification for this increase ?

Also since the Bulb tariff was for electricity sourced from 100% renewables then why the massive unit rate increase ?

Your questions are answered by the pinned post at the top of the list.

Energy price cap - your questions answered

Yes, but post doesn't really justify standing charge increase - we are either paying for the cost of failed companies, the transfer of suppliers or the cost of the storms ?

d) all of the above