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

MSE_James

Latest video from Martin on the situation for people currently on a fixed rate:
https://www.youtube.com/watch?v=eYH2zeilfZ8 

[Deleted User]

Does anyone have a link I'm sure I saw about the unit and daily standing charges from 01 October, please? I was going out and I meant to bookmark it to look later but I forgot.  Also - will it still be provisional or is the one I saw likely to be the 'confirmed' rates?

I'll need to get my bill out but I think my present charges (from a scribbled note on my calendar)  are for electricity 41.03 p per kWh and daily charge 24.86 p and for gas 12.41 p per kWh and daily charge 26.10 p. 

The chart I (think i saw) outlined the charges per unit and per day (including VAT, I think) from 01 October 2022 according to Region - I'm in South Scotland/Scottish Power Area.

I hope I wasn't imagining that I saw what I thought was the details from 01 October.

Thank you.

Spoonie_Turtle

Deleted_User said:

Does anyone have a link I'm sure I saw about the unit and daily standing charges from 01 October, please? I was going out and I meant to bookmark it to look later but I forgot.  Also - will it still be provisional or is the one I saw likely to be the 'confirmed' rates?

I'll need to get my bill out but I think my present charges (from a scribbled note on my calendar)  are for electricity 41.03 p per kWh and daily charge 24.86 p and for gas 12.41 p per kWh and daily charge 26.10 p. 

The chart I (think i saw) outlined the charges per unit and per day (including VAT, I think) from 01 October 2022 according to Region - I'm in South Scotland/Scottish Power Area.

I hope I wasn't imagining that I saw what I thought was the details from 01 October.

Thank you.

You didn't imagine it  https://www.moneysavingexpert.com/utilities/what-are-the-price-cap-unit-rates-/
Scroll down to 'Prices vary by region'

[Deleted User]

Thanks very much Spoonie_Turtle.  When I couldn't find it I was beginning to wonder if I had imagined it.

Spoonie_Turtle

Deleted_User said:

Thanks very much Spoonie_Turtle.  When I couldn't find it I was beginning to wonder if I had imagined it.

I knew I'd seen it but had to Google and try several results before finding it!  Not the simplest page to find again, that's for sure.

[Deleted User]

Thanks for taking time to search and find it, Spoonie_Turtle - very much appreciated.

mrsmac59

Can anyone who is a current British gas  customer help or anyone for that matter,I've just relooked at the latest tariff on offer from BG, its matches  with the latest mse link on energy price cap,I am Northern, Am I correct in thinking the rates are applicable from 1st October, 32.24kwh 49.93dsc,will these be in place for next 2 years? I am sure I read with BG somewhere?it is the new rate but you won't be charged it until 1st Oct  if you're on variable of course.Its just if it is I am most likely to revert to it from my fix,Ibut I'll have to wait for official notice/updated email from BG first.
At present  on 31.919 kwh,55 762 dsc.For the small increase in kwh and the decrease in dsc rate its a win win.

Qyburn

[Deleted User] said:

Qyburn said:

Deleted_User said:

Did you notice the most recent news on this?  It seems that offering people a 52p per unit discount isn't considered enough motivation to shift demand away from the peak - the conclusion was that it would need to be somewhere nearer a £2 per unit payment for enough people to change their behaviour.

Presumably the increase in electric cars will eventually mean that overnight electricity becomes more expensive, as the load from EV charging will be greater than normal domestic use.

Already is sometimes - for tomorrow's market the cheapest price is between 3pm and 4pm, less than 70% of the price between 11pm and midnight.

I saw comment along those lines earlier. Which begs the questions why do electric car owners get cheaper electricity in any case, and why are overnight "off peak" tariffs still being offered?

[Deleted User]

In part because predictable demand is valuable, in part because the system has always been set up that way, and in part because the general shape of prices still matches the traditional expectations most of the time (it’s just isn’t as clear cut as it used to be).

annvm93

Latest from OVO

On 8 September the government announced a new Energy Price Guarantee starting from 1 October which will limit the energy bill for a typical household to £2,500. 

This means the price you pay for your energy will be lower than the previously announced price cap, but your overall energy cost will still be determined by how much energy you use.

• You do not need to get in touch or apply for the government Energy Price Guarantee
• The government Energy Price Guarantee is automatically applied to all customers, regardless of whether you are on a fixed or standard variable tariff.
• It is in addition to the Energy Bills Support Scheme discount of £400, which you’ll receive over the next 6 months.