British Gas have increased standard rate tariff ahead of 1 October (!!!)

xzibit

My SVT rates are showing as

Electric 36.999p
Gas 11.249p
E s/c 50.351p
G s/c 33.536p

Hopefully this is from 1st October and not active as this does not tally with the rates they have me when I moved back to the SVT on Thursday. Will await my next bill and argue about it then if it's wrong.

Chrysalis

molerat said:

SC will be as per the October cap prices according to region - £183.00 South West -  £183  / 365 x 1.05 = 52.643p

Damn thats a very high SC. £15 month for zero usage.

[Deleted User]

Chrysalis said:

molerat said:

SC will be as per the October cap prices according to region - £183.00 South West -  £183  / 365 x 1.05 = 52.643p

Damn thats a very high SC. £15 month for zero usage.

South Western region is the highest in the country.

Looking at the details in the background, the biggest difference by far appears to be in the Network Cost component. 

wrf12345

Part of that is a £100-ish per customer to pay retail energy for customers it had to take on at a loss back when the cap was lower than the cost of energy, so once paid (Aoril 2023?) it should decrease by £100-ish. If not it just proves the contempt with which Ofgem treat the customers who pay their wages. 

[Deleted User]

wrf12345 said:

Part of that is a £100-ish per customer to pay retail energy for customers it had to take on at a loss back when the cap was lower than the cost of energy, so once paid (Aoril 2023?) it should decrease by £100-ish. If not it just proves the contempt with which Ofgem treat the customers who pay their wages. 

Correct - April 2023 cap was when that was originally due to drop out of the calculations (about 20p or so of the charge iirc), but of course no confirmation yet that it actually will be removed.  Didn't include Bulb, but included all of the SOLR transfers.

wrf12345

Just looked at my BG fix, 29p s/c and 33.22kwph, and gas is also lower than the new cap, so I will be staying on that until March. If that s/c does come down in April will only have one month when it is over 50p a day. A big deal to me as my usage is so low I am surprised they have not sent the heavies around to check my meter and wiring over.

sevenhills

[Deleted User] said:

The suppliers don't set the standing charge - it isn't their profit.

Not heard that before, are you sure?
I thought different companies had different rates, you used to be about to get zero standing charge.

razord

You can find your regional rate now thanks to British Gas's Tariff Information Labels. Just review their "Standard Variable" tariff: https://www.britishgas.co.uk/GetAQuote/tariff-information/tariffs/standard-variable/tariff-rates

[Deleted User]

sevenhills said:

Deleted_User said:

The suppliers don't set the standing charge - it isn't their profit.

Not heard that before, are you sure?
I thought different companies had different rates, you used to be about to get zero standing charge.

It's effectively true now.

Actually what is set is the amount of money that suppliers have to pay to the other bits of the industry (network costs, policy costs like the green levy...) and how much they are allowed to charge to recover their own investments.

They could choose to charge it all through to the customer as standing charge (and then they would be charging at the cap) or they could choose to charge less - often making up for the 'missing' part through higher unit prices.

Now they're not allowed to put the unit charges up to compensate (or they would exceed the cap) so there isn't really any zero standing charge tariffs left.  I think there was one Outfox the Market electricity-only tariff as the sole survivor.

molerat

Deleted_User said:

wrf12345 said:

Part of that is a £100-ish per customer to pay retail energy for customers it had to take on at a loss back when the cap was lower than the cost of energy, so once paid (Aoril 2023?) it should decrease by £100-ish. If not it just proves the contempt with which Ofgem treat the customers who pay their wages. 

Correct - April 2023 cap was when that was originally due to drop out of the calculations (about 20p or so of the charge iirc), but of course no confirmation yet that it actually will be removed.  Didn't include Bulb, but included all of the SOLR transfers.

All the Cornwall Insights predictions for next year's SC had a "not including Bulb costs" or some such appended to them.  I suspect Bulb charge will just become the same as the SoLR charge and replace it, after all it is just fudging numbers to come up with a desired final figure.