Standing charges and unit rates not inline with the price cap

MWT

Jibber123 said:

MWT thanks that would be great. Yes I'm in the Eastern region and I pay on receipt of the bill quarterly or PAYG, as that was the cheapest they could offer me as they insisted on putting my DD up to nearly £500 a month despite the fact I would only spend just over £3000 at the new prices.

OK, so using your rates and the Ofgem typical use of 4,200kWh which they use for the cap calculations:

Day rate: 52% of 4,200kWh = 2184kWh x £0.35785 = £781.54

Night rate: 48% of 4,200kWh = 2016kWh X £0.15837 = £319.27

Standing Charge = £0.4134 x 365 = £150.89

Total = £781.54 + £319.27 + £150.89 = £1,251.70 which is £50 below the cap of £1,302.01

N.B. All calculations net of VAT.

Jibber123

Is it just me or is this whole energy supplier thing getting more and more complicated. Why do we need so many different options, regions, ways to pay, suppliers, all with different units charges and standing charges. At the end of the day its the same electricity and gas coming down the same, cables and pipes and maintained by the same historical companies that have been in existence since the national grid was first set up way back in the 1930's. All the various names given to the different parts over the years are just maintaining the same infrastructure and basic electricity and gas that has always been.

Jibber123

MWT where did you get the figure of £1302.01 for the price cap? I thought it was £1,900 a year for eastern region and I assumed this included VAT.

MWT

Jibber123 said:

MWT where did you get the figure of £1302.01 for the price cap? I thought it was £1,900 a year for eastern region and I assumed this included VAT.

Straight from the Ofgem spreadsheet that has all the cap calculations...

There is a figure of £1,929.02 for 'Dual Fuel' for Eastern region and DD payment, but for your payment method the equivalent figure would be £2,055.39, and both of these amounts excludes VAT (5%).

Those 'Dual Fuel' numbers also assume single-rate electricity, not the E7 that you are on...

So your total cap for both gas & electric using E7 and gas in Eastern region would be £2,297.44

Always keeping in mind that the cap numbers are based on typical usage, and individual customers will receive bills that reflect their actual use which will be higher or lower than the cap number.

[Deleted User]

Jibber123 said:

Is it just me or is this whole energy supplier thing getting more and more complicated. Why do we need so many different options, regions, ways to pay, suppliers, all with different units charges and standing charges. At the end of the day its the same electricity and gas coming down the same, cables and pipes and maintained by the same historical companies that have been in existence since the national grid was first set up way back in the 1930's. All the various names given to the different parts over the years are just maintaining the same infrastructure and basic electricity and gas that has always been.

Even "back in the day" there were 16 different electricity boards.  Having "regions" isn't a valid complaint then.

Don't you also agree that people should be able to pay by direct debit, or by prepayment meter, or by cash or cheque?  Having "ways to pay" isn't a valid complaint then.

I assume that you've always thought that Economy 7 was a bad idea?  If not, having "different units charges" isn't a valid complaint then.

MWT

Jibber123 said:

At the end of the day its the same electricity and gas coming down the same, cables and pipes and maintained by the same historical companies that have been in existence since the national grid was first set up way back in the 1930's

Not at all, worth a read here for the details, but we are a long way from the original state owned grid...

https://lookaftermybills.com/blog/the-national-grid-who-are-they-and-what-do-they-do/

mmmmikey

The price cap has been set by Ofgem for October and on the basis that all suppliers are charging the maximum you can calculate the daily standing charge and price per kWh for single rate customers.

But as has been pointed out earlier in this thread you can't simply calculate the rate from the Ofgem docs for E7 because suppliers can choose from an infinte range of options from cheap night/expensive day to expensive night/cheap day (relatively - nothing is now cheap )

Does anyone know if the suppliers have set or published their stanfdard variable E7 rates yet? If so, where? If not, when?

Thanks