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Have I misunderstood the price cap? My new standard tariff is £2812.50!?

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  • pochase
    pochase Posts: 3,449 Forumite
    1,000 Posts Third Anniversary Name Dropper
    How exactly are you planning to force them to read the detailed data?

    I completely agree that the information should be provided and is necessary for people to understand what is going on, I just cannot see how you want to enforce that they have to read the information.


  • wild666
    wild666 Posts: 2,181 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    If the OP wants to save money then they need too lower the number of kWh electric and gas they use. This could be achieved by turning all appliances off at the wall socket. except the fridge, freezer and router, when not in use with electricity and turning down the temperatures on the boiler to 55 degrees for heating and 50 degrees for water, then lower the thermostat to 18 degrees. 
    The less an appliance is used the more the savings will be. I'm saving around £360 per year combined on electric and gas, that's an average of £30 per month but the saving is more in summer and less in winter. 
    Someone please tell me what money is
  • SAC2334
    SAC2334 Posts: 867 Forumite
    500 Posts Third Anniversary Name Dropper
    edited 5 July 2022 at 12:58PM
    pochase said:
    How exactly are you planning to force them to read the detailed data?

    I completely agree that the information should be provided and is necessary for people to understand what is going on, I just cannot see how you want to enforce that they have to read the information.


    Its hidden away in complex billing which is difficult to see. Even the annual kwh usage is hidden away and takes some finding...
    Easily sorted..Big bold print on page 1  and not hidden anywhere. 
     
    Then OFGEM should ban 6 month billing and make them all quarterly . Getting only one proper itemised bill per  one year is ludicrous for what is for most people their  biggest outgoing except a mortage
  • diystarter7
    diystarter7 Posts: 5,202 Forumite
    1,000 Posts First Anniversary Name Dropper
    Astria said:
    @diystarter7 you may not say my reply is harsh, it's the truth.

    I have just answered the question posed in the title.

    Ever since the cap has become relevant, Martin Lewis et al have been explaining how it works.


    You  have - this cannot be argued - but you have done it without providing even a jot of help to the OP. This is the sort of snarky posting that frequently puts newbies off on these boards, and in many cases then they simply won't return, even when help is much needed. Others have managed to be more constructive, while also making clear the answer to the question. Perhaps a case of "if you can't say anything constructive, best to stop typing and move on" otherwise you simply look like you're attempting to be clever and score points. 

    OP - as others have already said you are far from the first to be confused around this point - and the media actively encourage this confusion. You've had some great assistance from others on the thread though including more reading on the subject if that helps at all, and if you have any more questions please don't be worried about asking. 
    Many, many thanks.

    CAP needs to put across as price per unit and standing charges and percentages these have gone up by.

    Often, inc me understand a "cap" to be just that, the top end but its not in this case.
    I didn't think Ofgem actually provided maximum and suggested price per unit and standing charges, but rather "For a typical usage of X, you may not charge more than Y in standing charge and Z in usage in charges per year", and not all providers will be charging the cap, so you can only put the percentage on the average.
    Thank you but I have to disagree with you but I'm prepared to be corrected if appropriate.

    The max price has to be per unit and the max on standing charges. If there were no limits on these you could not get the average bill . As we all know averages may not mean a lot to those living alone, away from home most of the day at wrks etc compared with a family of 7 or an older couple retired, 77 plus who often feel the cold and are at home most of the time

    the cap as I see it is the max price per unit and standing charge per day and when you put them into a sack and shuffule them with the number of properties, you get the averages

    The 'CAP'  is at best misleading.

    A simpler solution is, Max Price Per unit of gas/ec & Max Price for standing charges daily rate. Then most people have an idea or can get last years readouts and have a good idea what they will be pay. 

    I blame the suppliers, the media and most of all OFGEM for allowing this confusion in order to make a big  ...... problem not look as bad as it is.
  • diystarter7
    diystarter7 Posts: 5,202 Forumite
    1,000 Posts First Anniversary Name Dropper
    Btw - the "average user" rubbish is not just misused by the gas/elc suppliers but even worse by the water co outfits. Yes, they installed meters so they could make more money out of more people. Sure some will save but the majority pay more.

    These so-called "averages" as NOT a cap but figures used by these outfits to make things appear better than they are.

    If the max price per unit of gas/elec and the standing charge was readily displayed, they'd be much more competition once things settle down but of course we know they want profits not competition/good value.


  • @SAC2334 estimated annual usage figures are readily available in online accounts with EDF when comparing their tariffs on offer and also clearly shown on the bottom of bills.

    There is no need to go hunting for anything, however whether Mr or Mrs Average can then work out what to do with them is the crux of the issue.

    Finding the capped rates and standing charges is easy if you have internet access.


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