Price cap off grid LPG

Pook1973

Hi, I don't have domestic gas at home, I run on LPG bottles. Bulb my elec supplier have set my usage at the max price cap £1971.42 p.a. just for electricity. Is that right? I thought that was a combined energy price cap. Added together with the cost of LPG, my energy prices are already over £3k p.a. before the rise in October. I can't find any information online about it, as all info is based on dual fuel. Any advice appreciated 

pochase

The price cap is the maximum price per KWh, for electricity about 27p to 29.xp depending on your region. The figure of £1957 is the cost for 2900KWh of electricity and 12000KWh of gas plus standing charges.

After that it depends on how much energy you use and you use over 6000KWh. If you use 60000KWh you would pay almost £20000.

Bulb has not set your usage to any amount, you are setting the amount by how much energy you use.

From October you will pay over £2800 using the latest predictions.

JohnPo

Welcome to the forum.  As this was your first post perhaps you are owed a gentler explanation.  The 'price cap' with a quoted figure p.a. is I am afraid quite misleading, all that is capped at each review is the price per KWhr (unit rate) and standing charges (per day) for mains supplied gas or electricity.

In your case the off grid gas falls outside any 'price controls', your electricity is under a standard variable tariff which is the same for all Bulb customers (the company is effectively under government control) and the price set is based on your annual usage and the Ofgem price cap. At each review of the price cap, based on your historic usage the monthly payment will be adjusted to reflect the current level of the 'price cap'.  As the previous poster pointed this will go up again quite sharply in October.

Hope that helps, please feel free to ask anything further.

QrizB

Welcome to the forum.

Pook1973 said:

Bulb my elec supplier have set my usage at the max price cap £1971.42 p.a. just for electricity. Is that right? I thought that was a combined energy price cap.

As well as the answers you've already received, I wrote an post a few months ago that explains how the price cap works. You'll find it here or linked from the signature at the bottom of every one of my posts.

If you still have questions, please ask and we'll see if we can answer them.

The_Fat_Controller

Bulb do not set usage, they will use an estimate of your annual usage from the previous year.

The unit rate and standing charges will be set at the current cap, as mentioned above. 

You will actually pay (annual usage x unit rate) + (365 x daily standing charge) 

Your DD will set at their estimated costs/12 

You need to check the above two amounts are roughly the same.

Please post your annual electricity usage in kWh along with unit rate and daily standing charges and one of the experts will do the sums and advise further.