Guess the unit costs of the new cap :)

ariarnia

Sea_Shell said:

ariarnia said:

What_time_is_it said:

Is there any chance it will be packaged as a price DISCOUNT instead? 
i.e. The price cap unit rates go up to what they were due to go to on 1st Oct, but a discount is then applied to these unit rates to bring the overall "average" user costs down to £2,500?

Or will it effectively be a new price cap with fixed unit rates and standing charges for 2 years?

they've said it will overright the ofgem october cap so i think that means it will be a new cap with new rates. 

i'm mostly interested in if the removal of the levy part of the standing charge will apply to everyone. including those on fixes. 

Me too.


Surely, a supplier can't continue to collect a levy, that is being scrapped!?

Or is a contract for Xp standing charge set in stone?

Obviously VAT is outwith the fix rates, if adjusted in the future.

martin seems to think that a vat reduction might be a 50/50 chance in the statement by the finance minister (don't know when that's going to happen). i think if they reduce vat then it has to apply to people on a fix. its included in the standing charge figure but they always calculate it separately on our bill. 

i don't know if the green levy is the same (something collected on behalf of the government and so should be removed from all bills if it changes) but it would seem it should. 

@MSE_James is this something you can ask martin to look into? it will make a difference to some people about if theyre better staying not heir fix or moving to the new cap. 

Xbigman

Me too.


Surely, a supplier can't continue to collect a levy, that is being scrapped!?

Or is a contract for Xp standing charge set in stone?

Obviously VAT is outwith the fix rates, if adjusted in the future.

If on a fixed contract you have agreed a total figure for the standing charge, not to pay different bits of the standing charge. I would think any levy reductions would NOT apply to fixed tariff's. The good news is that most people on fixes will be bailing out in the near future (although there's more details to come obviously). 

I would be surprised if there is a VAT cut too but that would apply to fixes.



Darren

JackRaygun

Until we get our new October contacts we obviously can't say for sure. 

If we add 25% to our energy costs last winter we can very roughly work out what we'll be paying this year and possibly less once green levies have been adjusted. Then deduct the £400 subsidy.

Janie2008

Love the way it says increase in charges or costs and not increase or decrease.

michaels

JackRaygun said:

Until we get our new October contacts we obviously can't say for sure. 

If we add 25% to our energy costs last winter we can very roughly work out what we'll be paying this year and possibly less once green levies have been adjusted. Then deduct the £400 subsidy.

No, the 25% increase is over the April tariff, last winter we were still on the October tariff that was about £1200 - basically we will be paying about double last winter (but then get a £400 rebate)

Shedman

Janie2008 said:

Love the way it says increase in charges or costs and not increase or decrease.

Yeah I spotted that when I reread it hence deleted my comment :-).   Hopefully though it does work both ways re changes on fixed tariffs due to governmental decisions.   I await an update from my supplier which their website says will be forthcoming 'soon'.

[Deleted User]

Martin has tweeted that he understands standing charges will remain at October 2022 levels.

All we now need is the balance between gas & electric caps to get to good data.

Astria

[Deleted User] said:

Martin has tweeted that he understands standing charges will remain at October 2022 levels.

All we now need is the balance between gas & electric caps to get to good data.

I don't see how standing charges can remain at October 2022 levels when they include a green levy that has been scrapped? So is there a new charge now included in the standing charge?

michaels

Does anyone have the 'reverse engineering' calc we used to use to convert from the £x cap to the unit rates as it sounds like we can still use this to work out the new unit rates if the SC is not changing. Thanks

[Deleted User]

Astria said:

[Deleted User] said:

Martin has tweeted that he understands standing charges will remain at October 2022 levels.

All we now need is the balance between gas & electric caps to get to good data.

I don't see how standing charges can remain at October 2022 levels when they include a green levy that has been scrapped? So is there a new charge now included in the standing charge?

There must be - Liz's cheese fund or something.  Luckily (?) the suppliers don't keep the standing charge, they have to pass it over, so it won't just be free profit. 

I guess it's for simplicity of calculation.