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Please help- is proposed tariff better for me given current predictions of hikes?

FTBNoIdea
FTBNoIdea Posts: 24 Forumite
10 Posts
in Energy
Hi, please could someone assist as I've tried watching videos and reading up but still struggle to understand the price cap and how to check whats best for my family. My current tariff is

gas: standard at 6.935p and standing at 25.923p

electricity: standard at 26.311p and standing at 42.619p

The new tariff is

gas: standard 11.199p and standing 24.480p

Electricity: standard 38.041p and standing 39.270p.

Any help would be very much appreciated 

Comments

  • Alnat1
    Alnat1 Posts: 4,155 Forumite
    1,000 Posts Fourth Anniversary Photogenic Name Dropper
    Can you give your annual usage in kWh from actual readings if possible but if not available, the estimates that were quoted on your latest bill. Can you also let us know if your account is currently in debit or credit and by how much.

    Someone can then help your decision by telling you how much it would cost.
    Barnsley, South Yorkshire
    Solar PV 5.25kWp SW facing (14 x 375) installed Mar 22 
    Lux 3.6kw hybrid inverter and 9.6kw Pylontech batteries 
    Daikin 8kW ASHP installed Jan 25
    Octopus Cosy/Fixed Outgoing 
  • FTBNoIdea
    FTBNoIdea Posts: 24 Forumite
    10 Posts
    Sure for electricity 4360.80 annual estimate and gas 12260.32 annual estimate. Electricity debit by 70 pence and gas credit by 40 pound
  • bristolleedsfan
    bristolleedsfan Posts: 12,952 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    FTBNoIdea said:
    My current tariff is

    gas: standard at 6.935p and standing at 25.923p

    electricity: standard at 26.311p and standing at 42.619p


    Looks like those are VAT exclusive rates, Minimum gas standard charge on SVR is 27.22p, gas kWh rates all above 7.22p
  • Mstty
    Mstty Posts: 4,209 Forumite
    1,000 Posts First Anniversary Photogenic Name Dropper
    Do you know your "actual" kWh usage not estimated. This is very important knowing your actual usage when considering a fix deal in the current market.
  • Alnat1
    Alnat1 Posts: 4,155 Forumite
    1,000 Posts Fourth Anniversary Photogenic Name Dropper
    Is your recent bill an estimate or based on meter readings?
    Barnsley, South Yorkshire
    Solar PV 5.25kWp SW facing (14 x 375) installed Mar 22 
    Lux 3.6kw hybrid inverter and 9.6kw Pylontech batteries 
    Daikin 8kW ASHP installed Jan 25
    Octopus Cosy/Fixed Outgoing 
  • FTBNoIdea
    FTBNoIdea Posts: 24 Forumite
    10 Posts
    Its based on monthly sent meter readings, not sure how to get an actual usage?
  • pochase
    pochase Posts: 3,449 Forumite
    1,000 Posts Third Anniversary Name Dropper
    Take two bills 12 month apart and give us the meter reads with the dates.
  • FTBNoIdea
    FTBNoIdea Posts: 24 Forumite
    10 Posts
    Gas 2022- 15081 2021-13980
    Electricity 2022- 06961 2021- 02581
  • QrizB
    QrizB Posts: 22,488 Forumite
    10,000 Posts Fifth Anniversary Photogenic Name Dropper
    FTBNoIdea said:
    Gas 2022- 15081 2021-13980
    Electricity 2022- 06961 2021- 02581
    Assuming a metric gas meter (and with five digits it should be) that's about 12300kWh of gas and 4380kWh of electricity.
    On the SVT that's around £2368/yr, while the new fix works out as £3440, an increase of 45% (I've added 5% VAT to both the annual calculations).
    N. Hampshire, he/him. Octopus Intelligent Go elec & Tracker gas / Vodafone BB / iD mobile. Kirk Hill Co-op member.
    2.72kWp PV facing SSW installed Jan 2012. 11 x 247w panels, 3.6kw inverter. 35 MWh generated, long-term average 2.6 Os.
    Ofgem cap table, Ofgem cap explainer. Economy 7 cap explainer. Gas vs E7 vs peak elec heating costs, Best kettle!
  • FTBNoIdea
    FTBNoIdea Posts: 24 Forumite
    10 Posts
    Thank you for working this out, so this seems better than the 51% coming in October and further 1% in Jan?
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