Octopus Gas increasing 75% ??

greeneggsandham

molerat said:

greeneggsandham said:

k_man said:

The 'average' user spends more on electric than gas (currently)

Rough maths:

Splitting the difference between the 46% for electric, and 76% for gas, with a bias towards electric, 54% seems about right.

According to the ofgem website, the gas (specifically) price cap is increasing 54%. So they aren't splitting the difference between gas and electricity. It does seem that my gas useage is below 'average', but it's usually almost double what I spend on electricity, so I'm thinking I may need to keep the gas heating off and use electric plug-in heaters (always thought of those as very uneconomical).

The OFGEM website says nothing of the sort.  Unit rates and standing charges are all going up by differing % amounts giving an average of all the regions for the average customer of 54%.  Gas unit price and electric daily charge are way above the "average".

Electric unit price is increasing by 33% on average

Electric daily charge is increasing by 80%

Gas unit price is increasing by 75%

Gas daily charge is increasing by 4%

All from the OFGEM website.

You're right, I thought they were talking about gas but actually it doesn't specify.

greeneggsandham

Ultrasonic said:

If only there was a link to the answer to this question at the top of every Energy forum page. Oh wait, there is:

https://www.moneysavingexpert.com/news/2022/03/martin-lewis--why-your-energy-bills-might-be-increasing-by-more-/

I watched that video and none of the proposed explanations applied to me, which was why I posted the question.

(excellent snark though)

razord

Even if your direct debit matched to the pound what the before price was, that might have been made up by a different percentage of gas/elec, so would go up by a different amount this time...

Ultrasonic

greeneggsandham said:

Ultrasonic said:

If only there was a link to the answer to this question at the top of every Energy forum page. Oh wait, there is:

https://www.moneysavingexpert.com/news/2022/03/martin-lewis--why-your-energy-bills-might-be-increasing-by-more-/

I watched that video and none of the proposed explanations applied to me, which was why I posted the question.

The discussion above suggests otherwise but anyway I see you've edited your post with a conclusion so glad you got this now. It is frustrating that the 54% figure got as much publicity as it did. News organisations often fail to get the concept of representative examples across.

MWT

Just in case it is useful, here is a direct comparison of the Eastern region Octopus pricing before and after 1st April with consumption set to the 'typical' usage levels:

	kWh	Now			April
Electricity	2900	0.2067	599.43		0.2923	847.67		41.4%
		0.2401	87.64		0.3765	137.42		56.8%
		Total	687.07			985.09		43.4%
Gas	12000	0.0401	481.20		0.0734	880.80		83.0%
		0.2611	95.30		0.2722	99.35		4.3%
		Total	576.50			980.15		70.0%
			1263.57			1965.25		55.5%

k_man

But that's not 54% exactly!

  

MWT

k_man said:

But that's not 54% exactly!

  

Rather proves the point doesn't it? ... even the 54% is an average of the averages for each region