Electric Standing charge doubling

AndyF1_3

Can anyone explain why British Gas are raising their daily standing charge from 24.038p per day to 47.282 p per day when the cap is raised. What gas the SC got to do with the rise in wholesale price increases.

[Deleted User]

AndyF1_3 said:

What gas the SC got to do with the rise in wholesale price increases.

If you try search you will see that this topic has been extensively discussed already. Let me leave you with one thought: who is paying for the SoLR costs associated with all the failed suppliers?

MWT

Check one of the many other identical posts for the full answer, but short version is that the electricity standing charge also includes various levies for things like the WHD and the green initiatives, but most importantly right now, the first tranche of the cost recovery for the Supplier of Last Resort scheme has been added, and that accounts for most of the increase.

MSE_James

We've tried to answer this question in our guide to the price cap which you can find here:

https://www.moneysavingexpert.com/utilities/what-is-the-energy-price-cap/#accordion-content-0336620245-1