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How do I calculate difference in price?

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Kostandia
Kostandia Posts: 25 Forumite
First Anniversary Name Dropper First Post
Hello, my 81 year old mum took the Eon 2 year fixed tariff in November, as the energy crisis kicked off. How can I calculate if the unit & standing price differentisls of the fixed tariff is better or worse than the new April price cap rises? 
....here are the rate differentials:
Eon electricity 23.46p Ofgem 28p
Eon gas 4.84p  Ofgem 7p
....the unit rates look better than Ofgem, right?

But the gas standing charge looks horrific:
Eon elec standing 4.84p  Ofgem 7p
Eon gas standing 48.22p Ofgem 27p
...how can i decide if the very high Eon standing charge for gas (double!!) makes the Ofgem price cap across all 4 charges a better deal for my mum than the Eon fixed tariff?
Thank you, Kiki

Comments

  • JGB1955
    JGB1955 Posts: 3,856 Forumite
    Sixth Anniversary 1,000 Posts Name Dropper
    You've muddled up those standing charges somewhere...  
    #2 Saving for Christmas 2024 - £1 a day challenge. £325 of £366
  • Gerry1
    Gerry1 Posts: 10,848 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Forget Ofgem figures, just do the sums based on her annual consumption derived from actual meter readings together with E.On's published tariff in your region, and don't forget VAT.
    If you can't find E.On's April figures, use EDF's which will be very similar.
  • Benny2020
    Benny2020 Posts: 525 Forumite
    100 Posts Second Anniversary Name Dropper
    Ofgem standing charges will be 45p and 27p 
  • You start by looking at the annual consumption in kWh per year for both electricity and gas. Bear in mind though that a fix is a fix. Your Mother will be protected from changes to the Ofgem Cap in Oct 2022; April 2023 and October 2023. The Office for Budget Responsibility is predicting a £800 increase in the Cap in Oct 2022.
  • QrizB
    QrizB Posts: 18,309 Forumite
    10,000 Posts Fourth Anniversary Photogenic Name Dropper
    You've got those tariff numbers muddled somewhere.
    For an average gas customer using 12000kWh/yr, saving 1p/kWh on gas is worth 32p/day. Your mum is saving more than double that, so an extra 21p/day on the standing charge isn't a big deal.
    Your mum would need to be using less than 4000kWh/yr of gas for the extra standing charge to make the new tariff a worse deal.
    N. Hampshire, he/him. Octopus Intelligent Go elec & Tracker gas / Vodafone BB / iD mobile. Ripple Kirk Hill member.
    2.72kWp PV facing SSW installed Jan 2012. 11 x 247w panels, 3.6kw inverter. 34 MWh generated, long-term average 2.6 Os.
    Not exactly back from my break, but dipping in and out of the forum.
    Ofgem cap table, Ofgem cap explainer. Economy 7 cap explainer. Gas vs E7 vs peak elec heating costs, Best kettle!
  • otb666
    otb666 Posts: 842 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    edited 23 March 2022 at 9:05PM
    i find money saving supermarket useful just put in as standard prices (after getting quote on your tariff)this shows calculations and comparisons and i double check my own figures using this.  Not sure if this counts as a soft search though on credit file (but dont need credit and no debt)
    21k savings no debt
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