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Energy Price Guarantee (announced 8 Sep): initial reaction & questions
Comments
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mmmmikey said:I don't know about you, but if I want a definitive, objective view on ANYTHING The Sun is always my first port of call
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The numbers are in the updated HMG support facts (updated today sometime)
https://www.gov.uk/government/publications/energy-bills-support/energy-bills-support-factsheet-8-september-2022
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If these figures are accurate,I realise there will be regional variants.Do you think energy companies will match the daily standing charge on fixed contracts that are higher than the price cap and leave price per kwh if this is lower than price cap.?mmmmikey said:
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Still so badly worded my added words in bold is what I think they mean.[Deleted User] said:The numbers are in the updated HMG support facts (updated today sometime)
https://www.gov.uk/government/publications/energy-bills-support/energy-bills-support-factsheet-8-september-2022
If not people that that fixed electricity at over 34p electricity and 10.3p gas get 17p off elec and 4.2kwh off gas but those that fixed on or below those prices get zilch.If you’re on a fixed tariffIf you’re on a fixed tariff at a higher rate caused by recent energy price rises, your unit prices will be reduced by up to 17p/kWh for electricity and 4.2p/kWh for gas.These unit prices have been passed to suppliers to ensure that they are used to calculate bills on time for 1 October.1 -
More info here:
If you’re on a standard variable tariff
The average unit price for dual fuel customers paying by direct debit will be limited to 34.0p/kWh for electricity and 10.3p/kWh for gas, inclusive of VAT, from 1 October.
These unit prices have been passed to suppliers to ensure that they are used to calculate bills on time for 1 October.
Energy suppliers will adjust standard variable tariffs automatically. Customers on standard variable tariffs do not need to take any action to get the benefits of this scheme.
If you’re on a fixed tariff
If you’re on a fixed tariff at a higher rate caused by recent energy price rises, your unit prices will be reduced by 17p/kWh for electricity and 4.2p/kWh for gas.
These unit prices have been passed to suppliers to ensure that they are used to calculate bills on time for 1 October.
Energy suppliers will adjust fixed tariffs automatically. Customers on fixed tariffs do not need to take any action to get the benefits of this scheme.
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So looks like Martin was correct
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Oh boy, looks controversial, people on 32p fixed and 9p for gas might be not happy.mmmmikey said:More info here:If you’re on a standard variable tariff
The average unit price for dual fuel customers paying by direct debit will be limited to 34.0p/kWh for electricity and 10.3p/kWh for gas, inclusive of VAT, from 1 October.
These unit prices have been passed to suppliers to ensure that they are used to calculate bills on time for 1 October.
Energy suppliers will adjust standard variable tariffs automatically. Customers on standard variable tariffs do not need to take any action to get the benefits of this scheme.
If you’re on a fixed tariff
If you’re on a fixed tariff at a higher rate caused by recent energy price rises, your unit prices will be reduced by 17p/kWh for electricity and 4.2p/kWh for gas.
These unit prices have been passed to suppliers to ensure that they are used to calculate bills on time for 1 October.
Energy suppliers will adjust fixed tariffs automatically. Customers on fixed tariffs do not need to take any action to get the benefits of this scheme.
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Why? Lower than the new cap.Chrysalis said:
Oh boy, looks controversial, people on 32p fixed and 9p for gas might be not happy.mmmmikey said:More info here:If you’re on a standard variable tariff
The average unit price for dual fuel customers paying by direct debit will be limited to 34.0p/kWh for electricity and 10.3p/kWh for gas, inclusive of VAT, from 1 October.
These unit prices have been passed to suppliers to ensure that they are used to calculate bills on time for 1 October.
Energy suppliers will adjust standard variable tariffs automatically. Customers on standard variable tariffs do not need to take any action to get the benefits of this scheme.
If you’re on a fixed tariff
If you’re on a fixed tariff at a higher rate caused by recent energy price rises, your unit prices will be reduced by 17p/kWh for electricity and 4.2p/kWh for gas.
These unit prices have been passed to suppliers to ensure that they are used to calculate bills on time for 1 October.
Energy suppliers will adjust fixed tariffs automatically. Customers on fixed tariffs do not need to take any action to get the benefits of this scheme.
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The bit quoted have a read.Spoonie_Turtle said:
Why? Lower than the new cap.Chrysalis said:
Oh boy, looks controversial, people on 32p fixed and 9p for gas might be not happy.mmmmikey said:More info here:If you’re on a standard variable tariff
The average unit price for dual fuel customers paying by direct debit will be limited to 34.0p/kWh for electricity and 10.3p/kWh for gas, inclusive of VAT, from 1 October.
These unit prices have been passed to suppliers to ensure that they are used to calculate bills on time for 1 October.
Energy suppliers will adjust standard variable tariffs automatically. Customers on standard variable tariffs do not need to take any action to get the benefits of this scheme.
If you’re on a fixed tariff
If you’re on a fixed tariff at a higher rate caused by recent energy price rises, your unit prices will be reduced by 17p/kWh for electricity and 4.2p/kWh for gas.
These unit prices have been passed to suppliers to ensure that they are used to calculate bills on time for 1 October.
Energy suppliers will adjust fixed tariffs automatically. Customers on fixed tariffs do not need to take any action to get the benefits of this scheme.
Someone on 36p fixed gets discounted down potentially to about 19p, someone on a 32p fix stays as 32p.
I am finding it hard to believe so still dont consider this real until we hear suppliers confirming it.0 -
Oh I see. No, I can't believe that's what will happen either.Chrysalis said:
The bit quoted have a read.Spoonie_Turtle said:
Why? Lower than the new cap.Chrysalis said:
Oh boy, looks controversial, people on 32p fixed and 9p for gas might be not happy.mmmmikey said:More info here:If you’re on a standard variable tariff
The average unit price for dual fuel customers paying by direct debit will be limited to 34.0p/kWh for electricity and 10.3p/kWh for gas, inclusive of VAT, from 1 October.
These unit prices have been passed to suppliers to ensure that they are used to calculate bills on time for 1 October.
Energy suppliers will adjust standard variable tariffs automatically. Customers on standard variable tariffs do not need to take any action to get the benefits of this scheme.
If you’re on a fixed tariff
If you’re on a fixed tariff at a higher rate caused by recent energy price rises, your unit prices will be reduced by 17p/kWh for electricity and 4.2p/kWh for gas.
These unit prices have been passed to suppliers to ensure that they are used to calculate bills on time for 1 October.
Energy suppliers will adjust fixed tariffs automatically. Customers on fixed tariffs do not need to take any action to get the benefits of this scheme.
Someone on 36p fixed gets discounted down potentially to about 19p, someone on a 32p fix stays as 32p.
I am finding it hard to believe so still dont consider this real until we hear suppliers confirming it.0
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