Ofgem Price Cap

[Deleted User]

molerat said:

Deleted_User said:

Or is this just “stuff is bad, it must be someone’s fault”?

Well, there is some truth in that point of view

Yes, VVP.

Mstty

Time for another back track unless this potential price cap was taken into account with the £3000 EPG

QrizB

julesone44 said:

When the government imposed controls finish in a year or so, everyone will be in for a nasty energy shock with bills doubling again.

Yes.

Wholesale gas prices have come down a lot as European countries have filled up their storage and demand has dropped.

Is there some sort of social media campaign going on to spread this line? We keep getting irregular posters turning up here, making this sort of claim and vanishing again.

While prices have fallen from their peak, they remain unusually high. Here's a chart from Trading Economics:

Natural gas for next month (which is what this chart shows) is around 300p/therm. That's over 10p/kWh before you add other costs and VAT.

Yes it's less than half the peak price we saw briefly in August, but it's also:

• 20% higher than it was a year ago, in Nov 2021 (235p/therm); and
  
• 650% higher than it was in Nov 2020 (39p/therm) and Nov 2019 (same price)

Anyone claiming that gas is now cheap again needs to check their sources.

(Caveat - gas is relatively cheap on the day-ahead market, but is creeping up. And you can't base a tariff cap on today's spot price.)

[Deleted User]

QrizB said:

Is there some sort of social media campaign going on to spread this line? We keep getting irregular posters turning up here, making this sort of claim and vanishing again.

Yes - https://twitter.com/search?q=wholesale%20gas - most with extremely similar wording and the same selectively-cropped graphs.  Posts like that scream organised campaign.  

Although some are showing the whole graph but then saying "the price dropped this week, so my price should" - the usual day-ahead purchasing problem.

Most vocal 'big names' on my feed are the usual "renationalise everything" campaigners and people from the trade unions (often the two things go together it seems). 

Spoonie_Turtle

[Deleted User] said:

QrizB said:

Is there some sort of social media campaign going on to spread this line? We keep getting irregular posters turning up here, making this sort of claim and vanishing again.

Yes - https://twitter.com/search?q=wholesale%20gas - most with extremely similar wording and the same selectively-cropped graphs.  Posts like that scream organised campaign.

An army of bots, no doubt.

[Deleted User]

Spoonie_Turtle said:

Deleted_User said:

QrizB said:

Is there some sort of social media campaign going on to spread this line? We keep getting irregular posters turning up here, making this sort of claim and vanishing again.

Yes - https://twitter.com/search?q=wholesale%20gas - most with extremely similar wording and the same selectively-cropped graphs.  Posts like that scream organised campaign.

An army of bots, no doubt.

A nice bunch of FirstName LotsOfNumbers and plenty whose names are mostly flags.  But then you get all the other well-meaning misinformed people who spot those posts then repeat them.

Spoonie_Turtle

[Deleted User] said:

Spoonie_Turtle said:

Deleted_User said:

QrizB said:

Is there some sort of social media campaign going on to spread this line? We keep getting irregular posters turning up here, making this sort of claim and vanishing again.

Yes - https://twitter.com/search?q=wholesale%20gas - most with extremely similar wording and the same selectively-cropped graphs.  Posts like that scream organised campaign.

An army of bots, no doubt.

A nice bunch of FirstName LotsOfNumbers and plenty whose names are mostly flags.  But then you get all the other well-meaning misinformed people who spot those posts then repeat them.

Yep, that's exactly the point.

Saga

Is it known what the £4279 cap translates into for average Q1 Jan-Mar 2023 SC & unit rates for electricity and gas? I know the EPG is in place until April but I'm on a flexible tariff which will increase in January in line with the price cap.

[Deleted User]

Saga said:

Is it known what the £4279 cap translates into for average Q1 Jan-Mar 2023 SC & unit rates for electricity and gas? I know the EPG is in place until April but I'm on a flexible tariff which will increase in January in line with the price cap.

We've got the full tables.  Do you track the average or a particular region?

Saga

Deleted_User said:

Saga said:

Is it known what the £4279 cap translates into for average Q1 Jan-Mar 2023 SC & unit rates for electricity and gas? I know the EPG is in place until April but I'm on a flexible tariff which will increase in January in line with the price cap.

We've got the full tables.  Do you track the average or a particular region?

Thanks @[Deleted User], NW here. Oh, and the Oct 2022 price cap SC & unit rates too? Thanks.