MSE News: Energy firms confirm new rates under the new price cap

MSE_Andrew

Energy suppliers have now confirmed their new prices under the upcoming 1 April price cap and most – including biggies such as British Gas, E.on and Scottish Power – have hiked their standard tariffs to the maximum allowed under the cap. Octopus is the outlier, pricing an average £50/year under the cap for existing customers. The new rates will mean huge bill increases for millions – see how your provider is changing prices.

Read the full story here: 

'Energy firms confirm new rates under the new price cap – see what your supplier will charge'

Click reply below to discuss. If you haven’t already, join the forum to reply.

The_Green_Hornet

Hiked!

What is wrong with the word increased?

QrizB

The_Green_Hornet said:

Hiked!
What is wrong with the word increased?

Is it because "hiked" rhymes with "yikes!" which is the noise you'll make when you see the new rates?

Zoobzi37

I've just got my updated tarrif from BG. My fixed rate deal ends in April. So I've gone to the Standard tarrif which more than doubles my monthly payments. 
Why has my standing charge doubled. Above all why is my electricity doubling when there's zero shortage of electricity. Why aren't there deals for electricity. 
Yes I understand gas increases but the rest are just already rich companies ripping people off.
I'm a very low gas user but relatively high electric user. 
I had expected for my gas to double but to double electric is absolutely disgusting. 
So many are in the same position. I can't really make any more cuts to my already frugal lifestyle. I retired early after suffering burn out after years on the front line helping people. 
It's going to be extremely difficult to pay this extra as well as all the other increases.
There's zero excuse for the standing charge and electricity rip offs. 

GingerTim

Zoobzi37 said:

I've just got my updated tarrif from BG. My fixed rate deal ends in April. So I've gone to the Standard tarrif which more than doubles my monthly payments. 
Why has my standing charge doubled. Above all why is my electricity doubling when there's zero shortage of electricity. Why aren't there deals for electricity. 
Yes I understand gas increases but the rest are just already rich companies ripping people off.
I'm a very low gas user but relatively high electric user. 
I had expected for my gas to double but to double electric is absolutely disgusting. 
So many are in the same position. I can't really make any more cuts to my already frugal lifestyle. I retired early after suffering burn out after years on the front line helping people. 
It's going to be extremely difficult to pay this extra as well as all the other increases.
There's zero excuse for the standing charge and electricity rip offs. 

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

Zoobzi37

GingerTim said:

Zoobzi37 said:

I've just got my updated tarrif from BG. My fixed rate deal ends in April. So I've gone to the Standard tarrif which more than doubles my monthly payments. 
Why has my standing charge doubled. Above all why is my electricity doubling when there's zero shortage of electricity. Why aren't there deals for electricity. 
Yes I understand gas increases but the rest are just already rich companies ripping people off.
I'm a very low gas user but relatively high electric user. 
I had expected for my gas to double but to double electric is absolutely disgusting. 
So many are in the same position. I can't really make any more cuts to my already frugal lifestyle. I retired early after suffering burn out after years on the front line helping people. 
It's going to be extremely difficult to pay this extra as well as all the other increases.
There's zero excuse for the standing charge and electricity rip offs. 

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

That's not an excuse but an explanation. There is vast difference between the two. 
Already rich companies are ripping people off with these increases. 

GingerTim

I'd much rather a clear explanation than an excuse. No-likes the standing charge increase, but the reasons are clear.

MattMattMattUK

Zoobzi37 said:

GingerTim said:

Zoobzi37 said:

I've just got my updated tarrif from BG. My fixed rate deal ends in April. So I've gone to the Standard tarrif which more than doubles my monthly payments. 
Why has my standing charge doubled. Above all why is my electricity doubling when there's zero shortage of electricity. Why aren't there deals for electricity. 
Yes I understand gas increases but the rest are just already rich companies ripping people off.
I'm a very low gas user but relatively high electric user. 
I had expected for my gas to double but to double electric is absolutely disgusting. 
So many are in the same position. I can't really make any more cuts to my already frugal lifestyle. I retired early after suffering burn out after years on the front line helping people. 
It's going to be extremely difficult to pay this extra as well as all the other increases.
There's zero excuse for the standing charge and electricity rip offs. 

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

That's not an excuse but an explanation. There is vast difference between the two. 
Already rich companies are ripping people off with these increases. 

An explanation is far better than an "excuse". These "already rich companies" are not "ripping people off", they are currently being forced to sell you a product at below cost, having already lost money for nearly a year.

It would help if you at least attempted to understand the situation, rather than just complaining that it is not what you want it to be. 

afearon22

Hi

I live in Northern Ireland and my electric is with power ni. I pay by direct debit each month.

I was wondering if I paid in advance and have my account in credit by £200 or £300. Come April will I get it at the same rate im on now or will it just go up to the new rate in April. 

Thanks for your help in advance. 

EssexHebridean

Zoobzi37 said:

I've just got my updated tarrif from BG. My fixed rate deal ends in April. So I've gone to the Standard tarrif which more than doubles my monthly payments. 
Why has my standing charge doubled. Above all why is my electricity doubling when there's zero shortage of electricity. Why aren't there deals for electricity. 
Yes I understand gas increases but the rest are just already rich companies ripping people off.
I'm a very low gas user but relatively high electric user. 
I had expected for my gas to double but to double electric is absolutely disgusting. 
So many are in the same position. I can't really make any more cuts to my already frugal lifestyle. I retired early after suffering burn out after years on the front line helping people. 
It's going to be extremely difficult to pay this extra as well as all the other increases.
There's zero excuse for the standing charge and electricity rip offs. 

If your electricity unit price HAS doubled then it’s likely because you’ve been paying an artificially low rate on your fix - lucky you! The increase to the cap on the electricity rates is actually proportionately far lower than that on the gas. 

afearon22 said:

Hi

I live in Northern Ireland and my electric is with power ni. I pay by direct debit each month.

I was wondering if I paid in advance and have my account in credit by £200 or £300. Come April will I get it at the same rate im on now or will it just go up to the new rate in April. 

Thanks for your help in advance. 

Unless things are very different in NI I’m afraid not. Sorry! 

UncleJoes

Martin's article provides the new caps for unit rates and standing charges. That says the new electricity rate is 28p a unit. My energy provider is So Energy and my fixed rate deal ends on 26 March. The only thing I am being offered is their So Flex rate, their variable tariff. However, the electricity unit rate is 29.48p - more than the cap. How is that allowed?