Am I paying more than the cap?

Marvel1

I logged into British Gas and this is currently for gas:

Tariff type	Variable
Payment method	Pay As You Go
Standard (PP) unit rate	7.382p per kWh
Standing charge	37.275p per day*
Tariff ends on	31/03/2023
Exit fees (if you change supplier before the end date)	Not applicable
Additional products or services included	Not applicable

Estimated annual consumption	3,784.65 kWh
Estimated annual cost*	£415.41

Electric is:

Tariff type	Variable
Payment method	Pay As You Go
Standard (PP) unit rate	28.046p per kWh
Standing charge	53.057p per day*
Tariff ends on	31/03/2023
Exit fees (if you change supplier before the end date)	Not applicable
Additional products or services included	Not applicable

Estimated annual consumption	1,159 kWh
Estimated annual cost*	£518.68

The standing charge is capped for gas currently is 27.220p, new rate from 01/10/22 will be 28.485p

The standing charge is capped for electric currently is 27.220p, new rate from 01/10/22 will be 46.356p

You can see I am already paying more, am I missing something?

Not sure if needed, but I see it asked a few times:

Gas reading 01/10/21 - 4894
Today - 5130
Used - 236  (m3)

Electric reading 01/10/21 - 31880
Today - 33102 
Used - 1222 (Kwh)

[Deleted User]

Is that a variable tariff with an end date?

So not the SVT which is covered by the cap?

Or is it just a pay-on-bill tariff (i.e. not direct debit) and you're reading the wrong cap?

MWT

Marvel1 said:

The standing charge is capped for gas currently is 27.220p, new rate from 01/10/22 will be 28.485p

The standing charge is capped for electric currently is 27.220p, new rate from 01/10/22 will be 46.356p

You can see I am already paying more, am I missing something?

There is a different cap for each region, and for each payment method so you can't look at one overall average figure...

I'd guess you are in the Midlands or South Wales perhaps, where the regional cap is a little higher than the average?

Marvel1

Deleted_User said:

Is that a variable tariff with an end date?

So not the SVT which is covered by the cap?

Or is it just a pay-on-bill tariff (i.e. not direct debit) and you're reading the wrong cap?

It's a prepayment meter, so no clue what the tariff end date for 31/03/23 means

MWT said:

Marvel1 said:

The standing charge is capped for gas currently is 27.220p, new rate from 01/10/22 will be 28.485p

The standing charge is capped for electric currently is 27.220p, new rate from 01/10/22 will be 46.356p

You can see I am already paying more, am I missing something?

There is a different cap for each region, and for each payment method so you can't look at one overall average figure...

I'd guess you are in the Midlands or South Wales perhaps, where the regional cap is a little higher than the average?

South Wales

This is what is annoying me with the price cap tariffs, not knowing what mine is meant to be.

https://www.britishgas.co.uk/energy/price-cap.html
New price cap rates from 1st October

Current rate (until 30th September)New rate (from 1st October)Gas standing charge27.220p28.485pGas unit rate7.480p14.758pElectricity standing charge43.395p46.356pElectricity unit rate28.455p51.886pEstimated annual cost£1971£3549*Based on Ofgem price cap rates and customer with typical usage, paying by direct debit.

[Deleted User]

South Wales prepayment caps:

Gas Unit rate: 15.07p per kWh (up from 7.38p) Gas Standing charge: 37.51p per day (up from 37.28p)

Electricity Unit rate: 50.86p per kWh (up from 28.05p)

Electricity Standing charge: 54.21p per day (up from 53.07p)

MWT

Marvel1 said:

This is what is annoying me with the price cap tariffs, not knowing what mine is meant to be.

The new Standing charge cap for South Wales on Pre-pay will be £0.5421 for electricity and £0.3751 for gas.
kWh for electricity £0.5086 and gas £0.1507

Marvel1

[Deleted User] said:

South Wales prepayment caps:

Gas Unit rate: 15.07p per kWh  Gas Standing charge: 37.51p per day

Electricity Unit rate: 50.86p per kWh

Electricity Standing charge: 54.21p per day 

Thank you, what website did you use to get this please?

[Deleted User]

This one.  I mean I could have worked it out from the OFGEM data but I'm lazy and MSE have done that for me.

https://www.moneysavingexpert.com/utilities/what-are-the-price-cap-unit-rates-/
Scroll down and find "regional rates and charges for prepayment"

Looks like you're paying exactly the capped rates at the moment.