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Energy price cap - based on what?

izawa
izawa Posts: 161 Forumite
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edited 25 May 2022 at 8:59AM in Energy
It may seem like a daft question but is the cap based on? What is the scenario? Is it a 2 people living in a 2 bed apartment , 5 people living in a 3 bed house?

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Comments

  • Mstty
    Mstty Posts: 4,209 Forumite
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    edited 25 May 2022 at 9:35AM
    https://severnwye.org.uk/articles/myth-busting-the-energy-price-cap-what-it-means-for-you/

    3 bedroom house with 2-3 people all info in the link above

    2900 kWh Elec 12000 kWh gas

    These are the figures energy suppliers use for their quotes

    Cue repeat of the same info....
  • Alnat1
    Alnat1 Posts: 3,676 Forumite
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    It's based on the average usage of 2900kWh of electric and 12000kWh of gas.

    It really sets the amount that can be charged per unit + standing charges, if you use more or less fuel in your homes, the price you pay over the year will be lower or higher.
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  • MWT
    MWT Posts: 9,731 Forumite
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    edited 25 May 2022 at 9:44AM
    The 'typical' customer used in the cap calculations  for dual fuel single rate-tariff is actually 3100kWh electricity and 12,000kWh gas.
    The 2900kWh is the figure the suppliers have to use when giving quotes, and that is why you'll see some differences when comparing the news headlines against the Ofgem spreadsheet.
    Also remember it is not just one 'cap' there are many different caps based on combinations of payment method, geographic region and metering type.
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