Energy Price Cap

[Deleted User]

Depends how they cap electricity and gas differently.

If you assume 1250 for each fuel, then minus standing charges you end up with about 1150 for gas and 1075 for electricity.

That makes a unit rate of 1250/12000 for gas and 1075/3100 for electricity.

Or roughly 10.5p per unit gas and 34.7p per unit electricity.

artyboy

Deleted_User said:

I’ve been threatened with a ban from the forum if I answer this point again, but I would suggest that it’s not very useful raising it in every thread and that people can look in existing threads for the answer.

We all know the answer to this one - with fixed rates there are winners and losers but either way it achieves the primary objective of certainty around what you'll pay. It's hard sometimes but that's what it is.

I have a fixed rate saver that's only earning 1.35% because it was taken out before interest rates started rising. But I took it to lock in a rate that I was happy enough with at the time - so I'm not going to demand that the BoE compensates me because I could be earning more interest on that money right now!

In the meantime, there will no doubt be a flurry of posts on this subject by people that are, and let's be charitable here, unfamiliar with how to search the forum for other similar posts.

The reality is that whatever political solution is arrived at, it's almost certain to take fixes into account. All we can do is wait for the announcement, and hopefully a bit of decluttering of this board will follow!

ariarnia

Deleted_User said:

Depends how they cap electricity and gas differently.

If you assume 1250 for each fuel, then minus standing charges you end up with about 1150 for gas and 1075 for electricity.

That makes a unit rate of 1250/12000 for gas and 1075/3100 for electricity.

Or roughly 10.5p per unit gas and 34.7p per unit electricity.

 i don't think they do though do they? that's how i was confusing myself when i was trying to work it out because they estimate average use of 12k gas and 3k electric i think. i was trying to pro rata the existing caps but ended up with silly numbers that didn't sense check. 

[Deleted User]

The existing caps are pretty similar for annual cost aren’t they?  But the same maths would work - replace my 1150 and 1075 with whatever combination you prefer.  Just make it add up to about 2225, which is 2500 minus the two standing charges (175 + 100).

ariarnia

Deleted_User said:

The existing caps are pretty similar for annual cost aren’t they?  But the same maths would work - replace my 1150 and 1075 with whatever combination you prefer.  Just make it add up to about 2225, which is 2500 minus the two standing charges (175 + 100).

at the moment its 1971. suggestion is that it will be set at 2500 so not a world of difference but enough to make me curious. it will all be announced tomorrow anyway probably (if not in the speech then they'll publish something somewhere that someone on here will read or martin will write about). 

[Deleted User]

ariarnia said:

Deleted_User said:

The existing caps are pretty similar for annual cost aren’t they?  But the same maths would work - replace my 1150 and 1075 with whatever combination you prefer.  Just make it add up to about 2225, which is 2500 minus the two standing charges (175 + 100).

at the moment its 1971. suggestion is that it will be set at 2500 so not a world of difference but enough to make me curious. it will all be announced tomorrow anyway probably (if not in the speech then they'll publish something somewhere that someone on here will read or martin will write about). 

I mean that at the moment the cap is about £1000 for gas and £1000 for electricity - so a guess that it might be £1250 for each isn’t bad.

ariarnia

[Deleted User] said:

ariarnia said:

Deleted_User said:

The existing caps are pretty similar for annual cost aren’t they?  But the same maths would work - replace my 1150 and 1075 with whatever combination you prefer.  Just make it add up to about 2225, which is 2500 minus the two standing charges (175 + 100).

at the moment its 1971. suggestion is that it will be set at 2500 so not a world of difference but enough to make me curious. it will all be announced tomorrow anyway probably (if not in the speech then they'll publish something somewhere that someone on here will read or martin will write about). 

I mean that at the moment the cap is about £1000 for gas and £1000 for electricity - so a guess that it might be £1250 for each isn’t bad.

me over complicating things as always

[Deleted User]

ariarnia said:

[Deleted User] said:

ariarnia said:

Deleted_User said:

The existing caps are pretty similar for annual cost aren’t they?  But the same maths would work - replace my 1150 and 1075 with whatever combination you prefer.  Just make it add up to about 2225, which is 2500 minus the two standing charges (175 + 100).

at the moment its 1971. suggestion is that it will be set at 2500 so not a world of difference but enough to make me curious. it will all be announced tomorrow anyway probably (if not in the speech then they'll publish something somewhere that someone on here will read or martin will write about). 

I mean that at the moment the cap is about £1000 for gas and £1000 for electricity - so a guess that it might be £1250 for each isn’t bad.

me over complicating things as always

You wouldn’t necessarily know those numbers if you didn’t read the OFGEM publications, they’re not often reported in the media.

Your question was valid.

QrizB

ariarnia said:

 @QrizB any estimates?

Thanks for tagging me but I think you've got your answer already

[Deleted User]

QrizB said:

ariarnia said:

 @QrizB any estimates?

Thanks for tagging me but I think you've got your answer already

That's assuming I actually got it right.