Confused, please help. Standing charge

victor2

Just compared the Octopus variable tariff rates for my region at the Ofgem "typical" usage of 2900kWh electricity and 12000kWh gas...

Before April increase, it cost £1151, or 90.1% of the cap.

After April increase, it cost £1936, a 61.5% increase but still only 98.2% of the cap.

Octopus did claim they were below the cap, and still are, just not by so much.

MWT

victor2 said:

Just compared the Octopus variable tariff rates for my region at the Ofgem "typical" usage of 2900kWh electricity and 12000kWh gas...

Before April increase, it cost £1151, or 90.1% of the cap.

After April increase, it cost £1936, a 61.5% increase but still only 98.2% of the cap.

Octopus did claim they were below the cap, and still are, just not by so much.

Not sure if you factored it in or not, but for previous customers there will be a discount off the electricity standing charge applied to the bill.

https://octopus.energy/blog/why-we-are-increasing-energy-prices-for-some-customers/

victor2

MWT said:

victor2 said:

Just compared the Octopus variable tariff rates for my region at the Ofgem "typical" usage of 2900kWh electricity and 12000kWh gas...

Before April increase, it cost £1151, or 90.1% of the cap.

After April increase, it cost £1936, a 61.5% increase but still only 98.2% of the cap.

Octopus did claim they were below the cap, and still are, just not by so much.

Not sure if you factored it in or not, but for previous customers there will be a discount off the electricity standing charge applied to the bill.

https://octopus.energy/blog/why-we-are-increasing-energy-prices-for-some-customers/

No, didn't account for that. I'm looking at an ex-Avro account, so they haven't met the "loyal" aspect of the Octopus criteria!

jimjames

AlwaysAway said:

Thank you but I’ve already seen that. I’m not really interested in why it has doubled. I’m interested in why the standing charge appears to be uncapped. I’m very confused. Why cap the kWh price to 54% but let the standing charge remain unlimited? It makes no sense to me, so Ithink I may be missing some information.

The SC and price ARE capped. It's just that the average is 54% for an average bill not that each element is capped to 54%. You'll see the gas price has risen more than electricity so if you're a bigger gas user your bill be go up more.

stewie_griffin

Were you previously on a fixed tariff that's recently ended. I check the E7 prices for where I live and both rates have gone up 37%.

stewie_griffin

Also I've just checked and the new night rate price for southern Scotland is 18.022p.

MWT

stewie_griffin said:

Also I've just checked and the new night rate price for southern Scotland is 18.022p.

Keep in mind that will be specific to a particular supplier, it is not explicitly capped in the same way as a single rate tariff.

With E7 the cap assumes a ration of 58/42% day/night and caps that total so there is room for individual suppliers to have a different spread that still adds up to the same capped total.

stewie_griffin

Sorry should have said the price with E.ON.