Standing charge

Ultrasonic

DottyDogLady said:

Verdigris said:

mparter said:

On a related note, why are these in some cases going up by 100% or more? Profiteering?

See the 6748365548 pevious threads asking the same question.

So one of life’s mysteries then

No. The biggest factor is all the energy firms that went bust last year.

There is a pinned article at the top of this forum section with a more detailed answer.

MSE_James

mparter said:

On a related note, why are these in some cases going up by 100% or more?

Our Utilities team here at MSE has tried to answer that question: 
https://www.moneysavingexpert.com/utilities/what-is-the-energy-price-cap/#accordion-content-0336620245-1 

wild666

Ultrasonic said:

DottyDogLady said:

Verdigris said:

mparter said:

On a related note, why are these in some cases going up by 100% or more? Profiteering?

See the 6748365548 pevious threads asking the same question.

So one of life’s mysteries then

No. The biggest factor is all the energy firms that went bust last year.

There is a pinned article at the top of this forum section with a more detailed answer.

Will the SC be decreased by around 18.6p per day when ODGEM has recouped the costs of the SoLR has being paid back, personally I don't think so as they will keep it as they will with the 11p that will be added to electric bills in April 2023.
Once it's added then they will do anything to keep the extra money because of these schemes and loans.

Ultrasonic

wild666 said:

Ultrasonic said:

DottyDogLady said:

Verdigris said:

mparter said:

On a related note, why are these in some cases going up by 100% or more? Profiteering?

See the 6748365548 pevious threads asking the same question.

So one of life’s mysteries then

No. The biggest factor is all the energy firms that went bust last year.

There is a pinned article at the top of this forum section with a more detailed answer.

Will the SC be decreased by around 18.6p per day when ODGEM has recouped the costs of the SoLR has being paid back, personally I don't think so as they will keep it as they will with the 11p that will be added to electric bills in April 2023.
Once it's added then they will do anything to keep the extra money because of these schemes and loans.

I don't think it's reasonable to just assume that personally, but given the uncertainty in the energy market right now this is sadly a long way from being the major concern. 

MWT

wild666 said:

Ultrasonic said:

DottyDogLady said:

Verdigris said:

mparter said:

On a related note, why are these in some cases going up by 100% or more? Profiteering?

See the 6748365548 pevious threads asking the same question.

So one of life’s mysteries then

No. The biggest factor is all the energy firms that went bust last year.

There is a pinned article at the top of this forum section with a more detailed answer.

Will the SC be decreased by around 18.6p per day when ODGEM has recouped the costs of the SoLR has being paid back, personally I don't think so as they will keep it as they will with the 11p that will be added to electric bills in April 2023.
Once it's added then they will do anything to keep the extra money because of these schemes and loans.

The components of the capped standing charge are clearly disclosed so there is no room to hide something like that when setting the capped rate, so no, it will not still be there in the calculation after it is recouped.

For fixed tariffs which are not controlled by the cap, the standing charges were historically below the capped rate due to competition, so unlikely they will stay above the cap any longer than they have to if the markets return to something resembling normality...

inbuilt

Wow. British Gas have just informed me the standing charge for my electricity is going from 25.664p to 51.626p per day. That's approximately a 101% increase I think!!!! British Gas was the company I was moved over to when my original supplier went under.

Surely it is now better to move supplier or are all standing charges the same geographically?

MattMattMattUK

inbuilt said:

Wow. British Gas have just informed me the standing charge for my electricity is going from 25.664p to 51.626p per day. That's approximately a 101% increase I think!!!! British Gas was the company I was moved over to when my original supplier went under.

Surely it is now better to move supplier or are all standing charges the same geographically?

On the SVT they are all pretty much the same regardless of supplier in any given region, there is a slight variation as different suppliers have reached the energy cap in slightly different ways, but if you are on a SVT switching supplier will make no material difference. 

inbuilt

Inflation these coming months will be interesting! Do things like this get indicated within the figure or is it fudged?

Ultrasonic

inbuilt said:

Inflation these coming months will be interesting! Do things like this get indicated within the figure or is it fudged?

There's a pretty clear calculation, not a 'fudge', and yes energy price increases affect inflation figures. They are a major driver right now, both directly and indirectly (companies reasonably passing on increased energy costs to customers).

inbuilt

101% seems excessive though. Not sure the infrastructure has changed.

Oh, I thought it was well known it was a fudge. How is it calculated? The CPI is a basket of goods that changes over time so don't understand how this can be representative over time. If it was the same staples it would be accurate but they switch and change.

Found these articles:

but it doesn't let me post them