Energy price cap to rise to £2,800 in October: OFGEM Chief Exec

GingerTim

https://www.bbc.co.uk/news/business-61562657

The boss of the UK's energy regulator has warned that the energy price cap is expected to rise to around £2,800 in October.

Jonathan Brearley told MPs that the price cap, which is currently at £1,971, will increase due to continued volatility in the gas market.

He said the price rises were a "once in a generation event not seen since the oil crisis in the 1970s".

The Ofgem chief executive apologised and pledged to "fix" the energy market

peterf83

Is there any idea what this equates to per kWh for gas and electricity?

GingerTim

Pain.     

superbigal

peterf83 said:

Is there any idea what this equates to per kWh for gas and electricity?

Using the way stuff roughly rose last time.
Ie Gas from Circa 4p to 7p.   electricity circa 21p to 28p.
I would project Gas from 7p to circa 11.2p      Electricity  from 28p to circa 35.4p

wild666

This is a 42% increase on top of the 54% in April so average usage prices will have nearly doubled within 6 months. Pensioners on low incomes will be dying and those on benefits might stop using most or their gas or electric. This £200 from the government will mean nothing knowing that they have to pay the £200 back over 5 years from next April at 11p per day on the SC.
IMO the increase in the SC should be separate for paying back any money from firms collapsing or payments from the government that are paid back over a number of years. Even if the 11p daily charge is scrapped in 5 years I don't think the 18.6p charge added to the SC will ever be removed. 

Swipe

Time to invest in some winter woolies, a heated throw, foot warmer and an electric blanket. You could save yourself an absolute fortune this winter.

Benny2020

Solar panels are the way to go.

Mstty

peterf83 said:

Is there any idea what this equates to per kWh for gas and electricity?

We can all have a guess the average consumer the price cap is based upon is 12000 kWh gas and 2900 kWh Elec. 

12p kWh gas = £1440
37p kWh Elec = £1073

The remainder is standing charges.

This is my finger in the air guess

born_again

Benny2020 said:

Solar panels are the way to go.

But the very people who can't afford to heat their home. Can't afford solar panels. Or take advantage of any of the other offers going.
Unless the government are going to fit them to all houses to reduce the cost of producing the power & relying on external sources for power.. Now that is going green 👍

Benny2020

Surprised that new houses don't have to have at least 2 wkp on their roofs.

mark_cycling00

At 8am on a typical cold winter's morning in Jan 2022, the "nationalgrid live" website shows 90% of electricity coming from gas. there's no solar at that time nor after 4pm, wind is 50% less during dark hours and 20+ days in winter have no wind at all. 

Your total energy usage is 250% higher in winter, and you solar panels produce 60% less energy in winter. 

Sadly we need more that just solar panels on the roof