Unjust Energy Price Cap Application

mikewinf

The various Energy Companies are applying 'The Price Cap' slightly differently but all are applying about 80% to the standing charge for electricity (& similar for gas). Why? Ofgem claim that a significant amount of this increase is due to the costs absorbed to fix the failed energy company problems. Fine, if this is the case I demand to know:
1. How much cost has been absorbed by each major energy company
2. How much of the standing charge cost increase has been allocated to this cost recovery.
3. When will the FULL increase applied to the standing charge for this cost be removed from bills

Ofgem have failed in their duty to consumers again by not clarifying this point.

Clearly the cost of energy distribution & administration has NOT increased in cost by 80% so we really need this sorted out now.

EssexHebridean

https://forums.moneysavingexpert.com/discussion/6339555/mse-update-why-is-the-standing-charge-for-electricity-nearly-doubling-from-1-april#latest

MattMattMattUK

mikewinf said:

The various Energy Companies are applying 'The Price Cap' slightly differently but all are applying about 80% to the standing charge for electricity (& similar for gas). Why? Ofgem claim that a significant amount of this increase is due to the costs absorbed to fix the failed energy company problems. Fine, if this is the case I demand to know:

You are not in a position to make "demands", Ofgem are a government body, operating according to rules set out in legislation. Nether the less this information is available online. 

mikewinf said:

1. How much cost has been absorbed by each major energy company

There are still costs being worked out and there will be a further element of them in the October cap, but Ofgem have published some data, as EssexHebridean has also linked to above.

mikewinf said:

2. How much of the standing charge cost increase has been allocated to this cost recovery.

In EssexHebridean's link, as well as published on the Ofgem website.

mikewinf said:

3. When will the FULL increase applied to the standing charge for this cost be removed from bills

The price cap is calculated according to a formula, backed up by legislation, the standing charge is calculated based on known and published costs. The new price cap will take account of new costs at the point it is applied, again those costs will be published and the formula clear, just as it is now.

mikewinf said:

Ofgem have failed in their duty to consumers again by not clarifying this point.

Ofgem have not "failed" as this information has been published and is available to everyone.

mikewinf said:

Clearly the cost of energy distribution & administration has NOT increased in cost by 80% so we really need this sorted out now.

Clearly it has, if you could be bothered to read the published information. 

MWT

Ofgem have failed in their duty to consumers again by not clarifying this point.

Clearly the cost of energy distribution & administration has NOT increased in cost by 80% so we really need this sorted out now.

If only Ofgem had published the full details of how the price cap was calculated...

Oh wait... they did...

https://www.ofgem.gov.uk/publications/default-tariff-cap-level-1-april-2022-30-september-2022

Many here will be happy to help you with questions or anything you don't understand.

EssexHebridean

Many here will be happy to help you with questions or anything you don't understand.

Although probably in a more friendly, helpful way if you ask nicely rather than "demanding to know" things...