Winter 2022 price cap predictions - same for both electric and gas?

locky123

Does anyone have a reference to what the forecast price increases will be for each energy supply, as the percentage increase may not be the same for both electric and gas? I tried looking on Cornwall Insights but couldnt find the relevant numbers, just the typical annual cost rising from £1971 to £2600. Or is the price increase the same for both?

pochase

If we can go by the April CAP it will be different. Increase percentage for electricity was half what it was for gas.

Mstty

cornwall insights predictions and they got as close as 3% for the April 22 one

locky123

Mstty said:

cornwall insights predictions and they got as close as 3% for the April 22 one

Unfortunately the graph just quotes combined wholesale, so doesnt break it down between gas and electric.

Mstty

Bit more here and a breakdown in pounds

Source

https://www.cornwall-insight.com/press/cornwall-insight-releases-latest-winter-price-cap-predictions-as-summer-2022-cap-introduced/

Mstty

Don't forget to take away the SC it then gives you a decent guess at the prices for each kWh

locky123

Thanks, have you seen the gas/electric figures for the April 22 Cap of £1971?

Mstty

The interesting thing here is that gas is predicted to rise a lot more than elec again in October if you 

Taking the average price capped user at 2900kwh elec and 12000kwh gas

So then taking my own current SC and kWh capped rates the kWh price suggested by Cornwall insights for electricity will go from 29.24p to 31.03 so a rise of 6%

For gas on their calculations it goes from 7.28p to 11.78p kWh 38% rise

I would like that confirmed if others read their charts this way give or take a few percent.

BUFF

it's probably outdated now ( a month old) but the last that I read of Cornwall Insights figures in % terms they were predicting October 22 SVT rises of ~20% for electricity & ~32% for gas.

Mstty

BUFF said:

it's probably outdated now ( a month old) but the last that I read of Cornwall Insights figures in % terms they were predicting October 22 SVT rises of ~20% for electricity & ~32% for gas.

Got a source should like to read it and update my brain.

pochase

That is to be expected. Main reason for the increase in electricity we were told was the increased gas price and the gas that was used to generate electricity. 

As gas is only one of the electricity sources, the increase will not be as bad as the increase for gas.

CAP April was in the region of 35% increase electricity, but 70 to 75% increase gas.