Standing Charges

SGB89

Correct me if I am wrong but the increase in standing charges was partly due to the £200 being a loan? Now this has been scrapped are the standing charges going to be a bit lower in the future? perhaps something to keep a look out for, 

GingerTim

Much of the big increase in standing charges at the last cap review was owing to the expense of the supplier of last resort process - we're still going to be paying for that for some time, but at least the abandonment of having to repay the £200 loan-not-loan means it won't go up by another 11p per day from next April.

SGB89

GingerTim said:

Much of the big increase in standing charges at the last cap review was owing to the expense of the supplier of last resort process - we're still going to be paying for that for some time, but at least the abandonment of having to repay the £200 loan-not-loan means it won't go up by another 11p per day from next April.

wow that's even more shocking to know that that cost wasn't even added onto the standing charge yet. I thought it already had been. no wonder the gov have had to do something.

Ultrasonic

SGB89 said:

Correct me if I am wrong but the increase in standing charges was partly due to the £200 being a loan? 

No, it wasn't, so don't expect to see a change to standing charges due to today's announcement.

Gerry1

Ultrasonic said:

SGB89 said:

Correct me if I am wrong but the increase in standing charges was partly due to the £200 being a loan? 

No, it wasn't, so don't expect to see a change to standing charges due to today's announcement.

IIRC the standing charges for electricity were due to be surcharged by 11p per day for five years to repay the £200 Loan-Not-Loan.  Presumably this surcharge will now be scrapped?

MattMattMattUK

Gerry1 said:

Ultrasonic said:

SGB89 said:

Correct me if I am wrong but the increase in standing charges was partly due to the £200 being a loan? 

No, it wasn't, so don't expect to see a change to standing charges due to today's announcement.

IIRC the standing charges for electricity were due to be surcharged by 11p per day for five years to repay the £200 Loan-Not-Loan.  Presumably this surcharge will now be scrapped?

It was never introduced and as the loan-not-loan scheme is now cancelled it has not happened and never will happen. That does not mean the SC cannot rise, but it will not include the 11p as a component going forward.  

Gerry1

MattMattMattUK said:

Gerry1 said:

Ultrasonic said:

SGB89 said:

Correct me if I am wrong but the increase in standing charges was partly due to the £200 being a loan? 

No, it wasn't, so don't expect to see a change to standing charges due to today's announcement.

IIRC the standing charges for electricity were due to be surcharged by 11p per day for five years to repay the £200 Loan-Not-Loan.  Presumably this surcharge will now be scrapped?

It was never introduced and as the loan-not-loan scheme is now cancelled it has not happened and never will happen. That does not mean the SC cannot rise, but it will not include the 11p as a component going forward.  

Agreed, that's what I meant, the planned 11p component will not be introduced.

Ultrasonic

Gerry1 said:

Ultrasonic said:

SGB89 said:

Correct me if I am wrong but the increase in standing charges was partly due to the £200 being a loan? 

No, it wasn't, so don't expect to see a change to standing charges due to today's announcement.

IIRC the standing charges for electricity were due to be surcharged by 11p per day for five years to repay the £200 Loan-Not-Loan.  Presumably this surcharge will now be scrapped?

I believe the question was about the current increase in standing charges though, and whether we'd see this decrease because there was no longer going to be a £200 loan repaid. What you're talking about is a further future increase not happening, which I is somewhat different.

Forestfire59_12

I'm sure this is typical for most, but my Electric standing charge has gone up from 8p per day in March to 51.63p per day. My Gas standing charge has gone up from 8p per day to 27.22p per day. So before I even flick a switch it's costing me £24 a month. My direct debit used to be £57 a month and even then I was generating a credit.

So my question is, where is my incentive to reduce energy ? Surely when Energy is scarce, there should a greater incentive to cut energy usage both for my bank balance and the the state of the planet ?

A supplementary question is I've just bought a timer switch, to switch off the power to equipment such as TV etc. Is this worthwhile or will the switch consume more than the saving in "standby" ?

EssexHebridean

Forestfire59_12 said:

I'm sure this is typical for most, but my Electric standing charge has gone up from 8p per day in March to 51.63p per day. My Gas standing charge has gone up from 8p per day to 27.22p per day. So before I even flick a switch it's costing me £24 a month. My direct debit used to be £57 a month and even then I was generating a credit.

So my question is, where is my incentive to reduce energy ? Surely when Energy is scarce, there should a greater incentive to cut energy usage both for my bank balance and the the state of the planet ?

A supplementary question is I've just bought a timer switch, to switch off the power to equipment such as TV etc. Is this worthwhile or will the switch consume more than the saving in "standby" ?

Because aside from the SC you are also paying by the unit for all the energy you use. Therefore if you cut use, you cut costs... Right now, if I was to cut back my electricity use by 1kWh per day, that would save me in the region of £100 a year.