Price Cap ?- say it how it is

MouldyOldDough

I really wish that people / media would stop talking about the price cap increasing by 80% and just admit that the price per kWh is increasing by 80%

Pure and Simple - an 80% increase in price

jimjames

MouldyOldDough said:

I really wish that people / media would stop talking about the price cap increasing by 80% and just admit that the price per kWh is increasing by 80%

Pure and Simple - an 80% increase in price

Even that isn't correct. Gas and electric are going up by different amounts.

QrizB

jimjames said:

MouldyOldDough said:

I really wish that people / media would stop talking about the price cap increasing by 80% and just admit that the price per kWh is increasing by 80%

Pure and Simple - an 80% increase in price

Even that isn't correct. Gas and electric are going up by different amounts.

... and the standing charges are increasing by different amounts again.

Aylesbury_Duck

MouldyOldDough said:

I really wish that people / media would stop talking about the price cap increasing by 80% and just admit that the price per kWh is increasing by 80%

Pure and Simple - an 80% increase in price

But it's not purely and simply an 80% increase in price.

MouldyOldDough

But its not a price cap either

Section62

QrizB said:

jimjames said:

MouldyOldDough said:

I really wish that people / media would stop talking about the price cap increasing by 80% and just admit that the price per kWh is increasing by 80%

Pure and Simple - an 80% increase in price

Even that isn't correct. Gas and electric are going up by different amounts.

... and the standing charges are increasing by different amounts again.

As are the rates if you have an E7 meter.

I think the OP might want a simple (but misleading) headline knowing that people will flock to this forum complaining they have been misled when they discover their energy price hasn't increased by exactly 80%.

Astria

MouldyOldDough said:

I really wish that people / media would stop talking about the price cap increasing by 80% and just admit that the price per kWh is increasing by 80%

Pure and Simple - an 80% increase in price

The average price a typical household will pay will increase by 80%, but if you use more you could pay more.

The increase per unit is going up by approx 114% - 124% (I don't have the current SVT electric figures to hand, I think its about 22p, which would be about 47p - 49p)

Section62

MouldyOldDough said:

But its not a price cap either

The thing which was announced this morning is the 'price cap'.

People are confused enough as it is without other people trying to make it more complicated.

shawry_99

I dont know any average people, and the only thing everyone I have spoken to is, how much our own bills may rise.

If they can give a 'price cap' it means they have based that on a SC, and a unit rate for Gas and Electric.

I'd prefer they just give those figures with the caveat that it will be slightly different per region / payment method etc.  Its going to be more accurate than the current method, and certainly more useful for most people.

Aylesbury_Duck

MouldyOldDough said:

But its not a price cap either

Yes it is.  It's perhaps not the best choice of words, but it is a price cap.

I've come to the conclusion that however things like this are presented and subsequently explained, there will always be a chunk of the population unwilling or unable to understand them.  We live in an age where an essentially infinite amount of information is available at our fingertips.  If people aren't prepared to take the time to do some basic research, I'm not sure how we'll every achieve a situation where everyone is fully cognisant of the details and how they're affected.

How would you present the current position on energy prices and the cap, to make it more understandable to more people?

[Deleted User]

It is exactly a price cap because it sets the maximum sale price for a unit - what it is not is a cost cap.

People seem incapable of understanding the different in these things.

It's like seeing a price cap of £1 for a pint of milk, and then not understanding that 2 pints might cost more than £1.