Energy Price Guarantee (announced 8 Sep): initial reaction & questions

strawb_shortcake

ariarnia said:

DAVEMCFC said:

Mstty said:

Shack_attack said:

Does anyone have a round about guess on what the unit cost will be capped at? I saw someone suggest 33-34p for electricity but haven't seen anything for gas. Thanks

Might as well wait now but best guesses ranged from 9-10p gas and 33-36p elec. But it's being announce now or soon.(maybe not to that details though)

They never give the unit rate, only the average household use. Absolute waste of time, for most people who don't fit the average..

not really if you know your annual usage given if you know you use half or two thirds of the average then you can work out you'll pay about half or two thirds of the cap. 

nice to see explicit reference right at the start to those who use oil or on non domestic arrangements 

Typical, after I bit the bullet and coughed up 86ppl on my oil.

Astria

DAVEMCFC said:

Green levy scrapped, but price still goes up? How does that work?

It would have gone up more if the green levy hadn't have been scrapped.

DAVEMCFC

Astria said:

DAVEMCFC said:

Green levy scrapped, but price still goes up? How does that work?

It would have gone up more if the green levy hadn't have been scrapped.

But this is a govt imposed cap, it is not being set by market forces. They could have held it down to 2k a year, or reduced it to below the April level, to reflect the scrapping of green levies. but they chose not to

xzibit

Janie2008 said:

My fix is 11% above the April cap so I should be ok with the £2500 average.

Mine is 89% above. I'm just about to request a move back to the SVT.

MSE_James

Some initial thoughts from @MSE_Martin here:

https://twitter.com/MartinSLewis/status/1567829040102342656 

aceface1981

I fixed last week at £350pm with UW. Should I cancel!? Or ask them if I can switch to their variable tarrif? 

[Deleted User]

Whilst I welcome the announcement, the 'average useage' is 2900 kWh electricity and 12000 kWh.  My useage is 227% higher for electricity (due to medical equipment) and 153% higher for gas.  I know many people who mistakenly believe that the £2500 cap is for unlimited useage, and this is never fully explained in briefings and in the news. 

In order to work out my own costs, it's important to know the price per kWh (as well as standing charges).  Presumably VAT is on top?  Are standing charges on top or included in the cap? Does anyone know when this info will be available? 

Janie2008

xzibit said:

Janie2008 said:

My fix is 11% above the April cap so I should be ok with the £2500 average.

Mine is 89% above. I'm just about to request a move back to the SVT.

I had £200 exit fees so glad I don't have to. How about you?

alidai

DAVEMCFC said:

Astria said:

DAVEMCFC said:

Green levy scrapped, but price still goes up? How does that work?

It would have gone up more if the green levy hadn't have been scrapped.

But this is a govt imposed cap, it is not being set by market forces. They could have held it down to 2k a year, or reduced it to below the April level, to reflect the scrapping of green levies. but they chose not to

They could reduce it down to zero, they could st it at £10k, what is your point here?

[Deleted User]

Deleted_User said:

Whilst I welcome the announcement, the 'average useage' is 2900 kWh electricity and 12000 kWh.  My useage is 227% higher for electricity (due to medical equipment) and 153% higher for gas.  I know many people who mistakenly believe that the £2500 cap is for unlimited useage, and this is never fully explained in briefings and in the news. 

In order to work out my own costs, it's important to know the price per kWh (as well as standing charges).  Presumably VAT is on top?  Are standing charges on top or included in the cap? Does anyone know when this info will be available? 

* 'average useage 2900 kWh electricity and 12000 kWh gas