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

24

Comments

  • Sounds to me as if they're quoting it with the 5% VAT added.
  • Gerry1
    Gerry1 Posts: 10,192 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    UncleJoes said:
    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?
    The headline figures are averages because the tariffs vary regionally, as the article states.
  • QrizB
    QrizB Posts: 13,830 Forumite
    10,000 Posts Third Anniversary Photogenic Name Dropper
    UncleJoes said:
    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?
    The cap varies by region. There's a table of the regional variations at the link in my signature.
    29.48p/kWh is the correct capped rate for someone in the South East. You also get one of the cheaper standing charges.
    N. Hampshire, he/him. Octopus Intelligent Go elec & Tracker gas / Shell (now TT) BB / Lebara mobi. Ripple Kirk Hill member.
    2.72kWp PV facing SSW installed Jan 2012. 11 x 247w panels, 3.6kw inverter. 32MWh generated, long-term average 2.6 Os.
    Taking a break, hope to be back eventually.
    Ofgem cap table, Ofgem cap explainer. Economy 7 cap explainer. Gas vs E7 vs peak elec heating costs.
  • Eon prepayment meter will only hold a maximum of £250 ? 
    Anybody else had this ? 
  • I too find it shocking that the standing charge is being allowed to increase by so much. These energy companies have had years of shareholder dividends sucking funds out of the business and they have chosen not to maintain and future proof the network. Now, we are being told it is the reason to pay so much.
    Martin's explanation is just the front page. Where's the detail in the increase? How much of the increase is down to the "costs" of transferring customers from failed suppliers? When that has been repaid, will the standing charges go down again? 
    How much of the standing charge is now used to maintain the network? I was always told the standing charge was to cover those networks costs, but now, it is being used to pay for other things. Where will we see the results of the "improvements" in the network, when this money is spent? Is the whole network moving underground so that those hit by storms earlier this year, will not suffer in the future? 
    I do not see any increase in green policy costs for electricity, these are all factored in already and indeed, some were about to come to the end, so can we have a more detailed explanation of this please?

    I find it extremely surprising that consumer champions like Martin Lewis and Which? have not sought to either have better, more detailed explanations, or to challenge the simplicity of the explanation. This is a wholesale rip off by every major supplier - in itself a monopoly situation that is supposed to be against the law.
  • Tranboy
    Tranboy Posts: 165 Forumite
    100 Posts Third Anniversary Name Dropper
    dunlop27 said:
    Eon prepayment meter will only hold a maximum of £250 ? 
    Anybody else had this ? 
    £250 on a dumb pre pay meter and £250 on the card so as long as the meter is dumb and you don't top up the card after 1st April you will be paying the pre cap rate. The gas limit is over £900 and I've credited my mums meters with the maximum amount possible.
  • It looks like Octopus have a lower overnight rate for a few hours for anyone on a smart meter. On the flexible rate. Has anyone else got any info on this? 
  • The price cap rates updated on this site on 15th of March state an average of: Gas 7.37p per kwh and 27.22p daily standing charge. Electricity 28.34p per kwh and 45.34p daily standing charge.
    My suppler has offered me a Loyalty fixed rate for 10 months of: Gas 12.34p per kwh and 26.1p per day. Electricity 40.27p per kwh and 24.38 per day.
    Have they got their Electricity figures the wrong way round?
    Even so their gas kwh rate is nearly 70% higher than the cap.
  • MattMattMattUK
    MattMattMattUK Posts: 9,672 Forumite
    1,000 Posts Fourth Anniversary Name Dropper
    webntweb said:
    The price cap rates updated on this site on 15th of March state an average of: Gas 7.37p per kwh and 27.22p daily standing charge. Electricity 28.34p per kwh and 45.34p daily standing charge.
    My suppler has offered me a Loyalty fixed rate for 10 months of: Gas 12.34p per kwh and 26.1p per day. Electricity 40.27p per kwh and 24.38 per day.
    Have they got their Electricity figures the wrong way round?
    Even so their gas kwh rate is nearly 70% higher than the cap.
    Probably not, but as the electricity is considerably higher than the cap they would be willing to have a lower standing charge. 
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