October price cap electricity cost per kwh

NeverendingDMP

NeverendingDMP said:

poppy10_2 said:

NeverendingDMP said:

 What is the typical/average use that the cap is based on please. 
I think 2900 kWh per year is typical electricity from previous posts in this thread (so just under 8 units a day) but how much gas is typical?

Price cap is based on typical usage of

2,900 kwh for electricity

12,000 kwh for gas

NeverendingDMP said:

 Not sure what this will be unit wise on my machine.

You can convert units to kwh here

https://www.theenergyshop.com/guides/how-to-convert-gas-units-to-kwh

Thankyou. I knew someone would Know - the mse forum is ace. I now have a tragedy to become average. Wish me luck!

I meant a target to become average but maybe autocorrect has a point. It's tragic. Ha ha. We are all in it together though I suppose

pochase

There are several here in the forum who calculate them from the CI predictions.

As long as you have separate figures for gas and electricity it is quite simple.

Assumption is that the standing charges will not increase. Only averaged as they are very different between regions, but it won't change much in the big picture.

Deduct an average standing charge of £100 for gas and £170 from the predicted numbers

Divide the new numbers by 2900 for electricity and 12000 for gas.

This can be seen easily in the table I posted. The prices on't cater for different regions, but they are a good indication of what is going to happen in the next year. Of course it is only as good as the predictions are correct, not just the overall figure, but also the split between gas and electrcity.will of course differ by regions, so 

QrizB

Bumping this thread again to add the latest (final) CI predictions for the October cap (and for the four quarters after that). Apologies if the text is a bit smaller than usual.

Yes, that's almost 24p/kWh for gas & 76p/kWh for electricity in Q2 2023. Fortunately that's a warmer, brighter quarter ...

We'll learn the real cap numbers for October on Friday.

NeverendingDMP

Head further in sand now. Thankyou for the info though. I no longer have to aspire to be average to get through this - I need to become Ebenezer Scrooge! It's long term increases as well so it's not even like we can do a week of scrimping to get through it, and the worry is t's the same all over. Hopes dashed. The sand is were I wish to stay ( feel free to join me

saulhudson

I’m being probably over simplistic here but, whilst Governments talk about handouts, tax breaks etc etc, has ANYONE ever looked at this clearly unsustainable increasing of the “Price cap” it seems that the big Corporations are just blatantly “Making hay while the sun shines” at the expense of Businesses and families, how long and how far do they seriously think they can keep lifting this?

D924

My electric shower will be paid far more than me.

Anyway, I think demand destruction is already occuring and prices are unlikely to reach the projections.

NeverendingDMP

My six month gym membership for 99 pounds is looking promising to pay for my showers. Unsure how I will shower the kids!

NeverendingDMP

saulhudson said:

I’m being probably over simplistic here but, whilst Governments talk about handouts, tax breaks etc etc, has ANYONE ever looked at this clearly unsustainable increasing of the “Price cap” it seems that the big Corporations are just blatantly “Making hay while the sun shines” at the expense of Businesses and families, how long and how far do they seriously think they can keep lifting this?

That's gonna be the biggest problem isn't it. I've read the numbers I know I can't afford them. Simple as that. A person with greater means maybe can afford them but they will no longer have haircuts, clothes, cafe, meals out, theatre. It affects everything and everyone. I pay 9.10 for after-school club and 5.80 for breakfast club x 3 children x 4 days. How much is school going to need to increase that to in order to afford the heating to run the club and pay the wage increase the staff. At what point will schools turn the heating on and off. Care homes, hospitals, factories. Its gonna be a long winter. Let's hope it's a mild one 

si_74

NeverendingDMP said:

Head further in sand now. Thankyou for the info though. I no longer have to aspire to be average to get through this - I need to become Ebenezer Scrooge! It's long term increases as well so it's not even like we can do a week of scrimping to get through it, and the worry is t's the same all over. Hopes dashed. The sand is were I wish to stay ( feel free to join me

I get that the head in the sand is, at least partially, tongue in cheek. Unfortunately however I think an awful lot of people are doing exactly that. The reality is that people need to be aware of what is happening and make any changes they can to mitigate against the scary increases in cost. Sure, there may well be more help coming (at least for some) from the government.

Changes can be anything at all that reduces usage and/or increases the amount of disposable income they have to pay for energy. Washing up by hand rather than dishwasher, shorter showers, batch cooking, one pot meals, air fryer rather than oven, get a four pack in rather than going to the pub. Sure it may affect standard of living and new habits will have to be learned.

As has been said by other posters on other threads, whatever further help is coming (that will have to be paid for through taxes, and i for one am not comfortable with the dutch auction that is going on between Sunak and Truss on this very subject!) we are all going to be impacted by this for a couple of years at least it seems. Everyone situation is different and for sure there will be some that are stuck in the toughest of positions but for many of us there will be changes we can make that, when added together, will make a significate dent in the increases.

wild666

Could their be a drop in average usage after October as some people will be turning off most appliances at the wall socket either now or from October? If usage of electric and gas drops then will suppliers want to increase the kWh & SC prices so they keep the same amount of money as with a higher average usage figure?