Unit rates

Grumpyoldgit

I have just seen the government has set the new rates as 34p/kWh electricity and 10.3p/kWh gas.

I am with Scottish Power, on they’re standard tariff and I am currently paying 52.07p/kWh for electricity and 14.8p /kWh for gas.

To me, this means I should get a reduction in my bills??

Mstty

Yes that is correct from October 1st

Grumpyoldgit

Mstty said:

Yes that is correct from October 1st

That’s great news then!

Grumpyoldgit

Chat with Scottish Power today;

pfpf

Grumpyoldgit said:

I have just seen the government has set the new rates as 34p/kWh electricity and 10.3p/kWh gas.

this is "official"? and SC remain the same as now? subject to local variations.

400ixl

There is a different rate for both kWh & standing charge for each region so you will need to understand those rates for your region as I understand it.

Not seen those published as of yet, if anyone has a link that would be great.

[Deleted User]

Grumpyoldgit said:

I have just seen the government has set the new rates as 34p/kWh electricity and 10.3p/kWh gas.

I am with Scottish Power, on they’re standard tariff and I am currently paying 52.07p/kWh for electricity and 14.8p /kWh for gas.

To me, this means I should get a reduction in my bills??

Just to be clear the latest factsheet stated for those on 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.

So I therefore expect the same similar regional variations in unit prices that we currently see.  

  

Shedman

Just bear in mind that those figures are very rounded "averages" for simplicity of the announcement and each supply region and supplier will have slight variations to those tariffs (and the SCs) ...probably in the order of + or - up to 0.5p electric and 0.3p gas as is the case with the current cap.

[Deleted User]

A few misunderstandings here:

You say you are on their standard tariff and are currently paying 52.07p electricity / 14.8p gas.  Not quite true.  Those are the prices that you would have been paying from 1 Oct without the new announcement.  At the moment, you are probably paying something much closer to 28p electricity / 7p gas.

What will happen for you is that, on 1 October, the price will go up from 28p/7p to about 34p/10.3p instead of the bigger rise that was going to happen.

We don't know exactly what the new rate cap for you will be, because it changes slightly in each of the 16 energy regions, just like at the moment you are not exactly at the average unit rate cap on the old scheme.

molerat

pfpf said:

Grumpyoldgit said:

I have just seen the government has set the new rates as 34p/kWh electricity and 10.3p/kWh gas.

this is "official"? and SC remain the same as now? subject to local variations.

Yes, official.  The 8th Sep factsheet was updated on 9th.  Standing charges will be in line with the previously announced October cap.

https://www.gov.uk/government/publications/energy-bills-support/energy-bills-support-factsheet-8-september-2022

Grumpyoldgit

Deleted_User said:

A few misunderstandings here:

You say you are on their standard tariff and are currently paying 52.07p electricity / 14.8p gas.  Not quite true.  Those are the prices that you would have been paying from 1 Oct without the new announcement.  At the moment, you are probably paying something much closer to 28p electricity / 7p gas.

What will happen for you is that, on 1 October, the price will go up from 28p/7p to about 34p/10.3p instead of the bigger rise that was going to happen.

We don't know exactly what the new rate cap for you will be, because it changes slightly in each of the 16 energy regions, just like at the moment you are not exactly at the average unit rate cap on the old scheme.

That’s weird as those are the prices currently showing on my tariff 
UPDATE; ahh yes just read statement we were paying 27.1p and 7.123p. Thanks for pointing out my error.