Energy price cap freeze on a fixed tariff

Mobtr

Deleted_User said:

Mobtr said:

Deleted_User said:

Mobtr said:

Don’t know why all the flapping, it was obvious to anyone with half a brain that any fixed tariffs above the cap would get reduced to match the new capped prices and any already below the new cap would stay the same. There was no way companies were going to take 17p & 4p off already low prices. Anyone still above can change to SVT fee free

So you're saying Martin Lewis has less than a half a brain.

Yes if he actually thought that someone currently paying 27p on a fix for electricity would now be paying 10p, or someone who‘s gas was fixed at 4p would pay nothing 

So now you're saying he has less than half a brain or was deliberately misleading people.

Of course he wasn’t deliberately misleading people. He just reported as it was at the time. Maybe he should have waited until it was all finalised though 

Mike360

I am aware the unit rates won't change, but can anyone confirm if the standing charge rates per region announced are frozen for 2 years as well, or could they change in January 2023, then April 2023 etc?

K2rool

Mike360 said:

I am aware the unit rates won't change, but can anyone confirm if the standing charge rates per region announced are frozen for 2 years as well, or could they change in January 2023, then April 2023 etc?

I doubt they will rise the SC,if they rise it they would need to lower the unit price to get it back to £2500 on typical usage.

GingerTim

The assumption seems to be that the SOLR process will be paid for by April 2023, so they could decrease then. The fly in the ointment  is that the cost of Bulb's special administration hasn't been paid for and the cost is £2bn and counting...

bristolleedsfan

PennineAcute said:

Does anyone know what is happening to the SC for fixed tariffs?  Although my UPs are greater than Octobers, the discount will reduce it to the October's rate.  My SCs are however lower than the figures I have seen banded around for October.

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lisyloo

How much are we taking about for SC?
i mean is it 2p per day fro 365 days? I.e. about £7?

Ultrasonic

lisyloo said:

How much are we taking about for SC?
i mean is it 2p per day fro 365 days? I.e. about £7?

Are you asking about the increase? The actual standing charges are nothing like 2p I'm afraid, and the small increases probably depend on exactly where you live.

lisyloo

Ultrasonic said:

lisyloo said:

How much are we taking about for SC?
i mean is it 2p per day fro 365 days? I.e. about £7?

Are you asking about the increase? The actual standing charges are nothing like 2p I'm afraid, and the small increases probably depend on exactly where you live.

People on fixed rates appear to be concerned they’ll be paying more SC than standard variable guarantee after October.
I’m trying to get a handle on the difference (as I think it might be pennies?)
i checked mine (EDF fix) and it’s 51.62p per day so it’s below the svr of 52.64p
(dd, south west).

[Deleted User]

lisyloo said:

Ultrasonic said:

lisyloo said:

How much are we taking about for SC?
i mean is it 2p per day fro 365 days? I.e. about £7?

Are you asking about the increase? The actual standing charges are nothing like 2p I'm afraid, and the small increases probably depend on exactly where you live.

People on fixed rates appear to be concerned they’ll be paying more SC than standard variable guarantee after October.
I’m trying to get a handle on the difference (as I think it might be pennies?)
i checked mine (EDF fix) and it’s 51.62p per day so it’s below the svr of 52.64p
(dd, south west).

I think mine are higher but within a penny.

Ultrasonic

lisyloo said:

Ultrasonic said:

lisyloo said:

How much are we taking about for SC?
i mean is it 2p per day fro 365 days? I.e. about £7?

Are you asking about the increase? The actual standing charges are nothing like 2p I'm afraid, and the small increases probably depend on exactly where you live.

People on fixed rates appear to be concerned they’ll be paying more SC than standard variable guarantee after October.
I’m trying to get a handle on the difference (as I think it might be pennies?)
i checked mine (EDF fix) and it’s 51.62p per day so it’s below the svr of 52.64p
(dd, south west).

Yes, this will depend on the fix and I'm lucky mine is much lower than the EPG (something like 26p per day lower for electricity so not insignificant).

It's those with higher standing charges who have a decision to make.