Guess the unit costs of the new cap :)

Astria

So we know the cap is now £2500,

So I'm guessing the standing charges will be approx 48p electric and 27p gas

then 11p/kWh gas and 32p/kWh electric

(obviously with regional differences)

Anyone else?

The_Fat_Controller

Already 4 pages here !

https://forums.moneysavingexpert.com/discussion/6385544/price-cap-get-your-crystal-ball-out-and-place-your-bets#latest

michaels

The 'green' (which is actually a social) levy (green supply is actually reducing the price) is being removed, this was part of the standing charge so possibly slightly lower standing charge for electricity and slightly higher unit rate than suggested above.

Astria

The_Fat_Controller said:

Already 4 pages here !

https://forums.moneysavingexpert.com/discussion/6385544/price-cap-get-your-crystal-ball-out-and-place-your-bets#latest

That's the price cap, not the unit rate.

[Deleted User]

Reading the media coverage, it says:

"This will be achieved through a new Energy Price Guarantee which limits the price suppliers can charge customers for units of gas"

That could be read as not changing the unit price for electricity at all - I hope it's just a poor summary.

Astria

michaels said:

The 'green' (which is actually a social) levy (green supply is actually reducing the price) is being removed, this was part of the standing charge so possibly slightly lower standing charge for electricity and slightly higher unit rate than suggested above.

Ah that makes sense, so even though it's being removed the end result could mean higher bills depending on usage because it was part of the cap?

superjuz

Gas 9.3p, SC 34p

Electric 36.6p, SC 48p

roughly a 25 percent uplift on the current rates.

ariarnia

i think this is saying the green levy charge is £152 of the cap  https://www.ofgem.gov.uk/publications/ofgem-updates-price-cap-level-and-tightens-rules-suppliers

so napkin based maths is saying the standing charges would have been £273 (0.2849*365)+(0.4636*365) a year and are now going to be £121

that means of the 2500 headline rate 2379 is made up of usage. then we can divide that by the averages to get the unit rate. i think. 

is that about right?

[Deleted User]

superjuz said:

Gas 9.3p, SC 34p

Electric 36.6p, SC 48p

roughly a 25 percent uplift on the current rates.

The standing charges were not going to change between April and October caps.  Any increase to the standing charge is always controversial.  Yet you think they are going to replace an already announced 0% rise with a new 25% rise?

The_Fat_Controller

The SCs were going to change, albeit very marginally, between the April and October caps.

superjuz

[Deleted User] said:

superjuz said:

Gas 9.3p, SC 34p

Electric 36.6p, SC 48p

roughly a 25 percent uplift on the current rates.

The standing charges were not going to change between April and October caps.  Any increase to the standing charge is always controversial.  Yet you think they are going to replace an already announced 0% rise with a new 25% rise?

Ok, cheers, wasn't aware that the SC were fixed. I don't usually consider them to be honest - a  drop in the ocean relative to my usage! I appreciate for some they make up a considerable amount of the costs.