Estimated unit rates Oct 2022

Spoonie_Turtle

Just wondered if anyone could do an estimation for unit rates based on the updated price cap forecast please?

Thanks

Mstty

Borrowed from @QrizB👍

SJMALBA

See @QrizB's post here:

https://forums.moneysavingexpert.com/discussion/6307202/energy-news-in-general/p83 

Mstty beat me to it!

Spoonie_Turtle

Thank you both, and @QrizB 👍

QrizB

Glad to be of service

fergie_

A lot of people are not going to be able to heat or light their homes, let alone eat or travel anywhere. Something has to give, but will we see the cap rules changed or more targeted help? Compared to now, I make it for the 'typical' user from October 2022: Gas +88% and Electric +43% Yes, that's gas practically doubling over night and electricity going up by almost half. The only tarnished silver lining, is that it is really making people look at the energy they use and how they use it.

Mstty

fergie_ said:

A lot of people are not going to be able to heat or light their homes, let alone eat or travel anywhere. Something has to give, but will we see the cap rules changed or more targeted help? Compared to now, I make it for the 'typical' user from October 2022: Gas +88% and Electric +43% Yes, that's gas practically doubling over night and electricity going up by almost half. The only tarnished silver lining, is that it is really making people look at the energy they use and how they use it.

Most get £550 some get £1250 and above. 

That's a lot of help how much more do you personally think is needed?

pochase

The help was already announced in May as a reaction to the predicted increase of the cap to £2800.

The new prediction is nothing completely new and surprising, it is a prediction for an additional £450 more. so for the biggest part of the increase help was already promised.

In what way would you want to see the cap rules changed? The new predicted cap is already the maximum what suppliers will be allowed to bill, and the profit was less than 3% in the last cap if  I remember correctly. Contrary to what people seem to believe, your supplier is not making huge profits, if they are unlucky they will make a loss. For example Shell will make a huge profit, but not for the sector that sell you gas and electricity, the profit is in the wholesale. Other energy supplier don't even belong to a big company that will make money in other sectors.

Targeted help. There is currently nothing targeted in the help promised for this autumn. If you belong to a certain group (have a electricity account, are in means tested benefits, are disabled, get winter fuel allowance) you get money. There will be people who will get more than there additional cost for energy is, and there currently are people who will get nothing at all, for example park home owners who don't qualify for any of the other grants.

At the moment it is not even clear how and when the current help will be paid. If you want to target it it will be huge administration effort, that probably will cost more for the administration than what is left for help.

zzzt

There are going to have blackouts and energy rationing.

The_Groat_Counter

zzzt said:

There are going to have blackouts and energy rationing.

If there is to be any energy rationing then the first stage of accomplishing it is actually quite easy and there are tried and tested protocols in place for it - basically it involves large industrial users (manufacturing etc) having their supply cut, something that wouldn't come as a surprise to them.

Ultrasonic

zzzt said:

There are going to have blackouts and energy rationing.

Surely if anything the price increases being discussed make this less likely, with people reducing energy consumption as a result?

If needed I'd much rather see a way to try to ration energy use rather than actual blackouts. It takes very little energy to literally just keep the lights on.