Am I the only one still not told about the unit prices for Gas and Electricity

PaulDesmond

Spoke to Sainsbury yesterday and they tell me they are still waiting to be told by Ofgem what the unit price is. It was announced by the PM before the death of the queen at 45.34p for electric and 9p for gas and a capped price of £2,500. It is up to the energy companies to do their maths.

Basic maths. Electric 2,900 kwh for year is £1,044 and Gas £12,000 kwh is £1,080 total £2,124.

£2,500 - ££2,124 = £376 for the company to divide up into their standing charges. Unless you think Ofgem have to tell them what their standing charges are.

Merlin139

PaulDesmond said:

Spoke to Sainsbury yesterday and they tell me they are still waiting to be told by Ofgem what the unit price is. It was announced by the PM before the death of the queen at 45.34p for electric and 9p for gas and a capped price of £2,500. It is up to the energy companies to do their maths.

Basic maths. Electric 2,900 kwh for year is £1,044 and Gas £12,000 kwh is £1,080 total £2,124.

£2,500 - ££2,124 = £376 for the company to divide up into their standing charges. Unless you think Ofgem have to tell them what their standing charges are.

2900 X £0.4534 = £1314.86

£1044/2900= £0.36

[Deleted User]

PaulDesmond said:

Spoke to Sainsbury yesterday and they tell me they are still waiting to be told by Ofgem what the unit price is. It was announced by the PM before the death of the queen at 45.34p for electric and 9p for gas and a capped price of £2,500. It is up to the energy companies to do their maths.

Basic maths. Electric 2,900 kwh for year is £1,044 and Gas £12,000 kwh is £1,080 total £2,124.

£2,500 - ££2,124 = £376 for the company to divide up into their standing charges. Unless you think Ofgem have to tell them what their standing charges are.

Where have you got that from?  The caps average out at 34p for electricity and 10.4p for gas.  And yes, OFGEM set the standing charges too, but they're still going to be what was already published for October.

If you're on SVT single rate, then it's likely that the rates EdF have already published (and that are on the main MSE page about unit prices) will apply.

If you're on SVT E7, it's more complex but we know the electricity cap for those rates seems to be between £1440 and £1550 depending on region.

MattMattMattUK

PaulDesmond said:

Spoke to Sainsbury yesterday and they tell me they are still waiting to be told by Ofgem what the unit price is. It was announced by the PM before the death of the queen at 45.34p for electric and 9p for gas and a capped price of £2,500. It is up to the energy companies to do their maths.

Basic maths. Electric 2,900 kwh for year is £1,044 and Gas £12,000 kwh is £1,080 total £2,124.

£2,500 - ££2,124 = £376 for the company to divide up into their standing charges. Unless you think Ofgem have to tell them what their standing charges are.

That is the basic premise, but it is not quote that simple. They have to produce a pricing structure by region which complies with the cap, then have that signed off by Ofgem, they can then tell their customers. 

It is largely irrelevant though, unless you are on E7/E10 then for your region it will be almost exactly the same as every other supplier's prices, so you should know within a few hundredths of a penny how much you will be charged per kWh and for the Standing Charge. 

stewie_griffin

I don’t think E.ON Next/Sainsbury’s have told any of there customers yet.

pochase

The April cap was announced in the beginning of February and that gave the energy suppliers almost 2 months to do their calculations.

This was shortened by Ofgem so that in future there are only 35 days between announcement of the cap and the start of the new SVT.

So this time suppliers started to do their calculations after the 26th for almost two weeks, until on 8th of September the new numbers were announced and they had to start again.

As raised before it is not as easy as you make it look, it is not just unit rates and standing charges, but it needs to be done for the different regions and the three to four different payment forms, and for the more complicated E7 tariffs and legacy tariffs like E10.

And the calculations than need to be signed off by Ofgem. I was not aware of this, but it makes sense.

So most of the blame goes to those who changed the rules in the middle of the game.

StocktonFlyer

Not heard anything yet from Utility Warehouse, other than they'll let us know as soon as they have the information. The letter may be in the post.

grn99

stewie_griffin said:

I don’t think E.ON Next/Sainsbury’s have told any of there customers yet.

Sainsbury's/E.ON still don't know when they will tell us, when I asked last night.

PennyForThem_2

PaulDesmond said:

Spoke to Sainsbury yesterday and they tell me they are still waiting to be told by Ofgem what the unit price is. It was announced by the PM before the death of the queen at 45.34p for electric and 9p for gas and a capped price of £2,500. It is up to the energy companies to do their maths.

Basic maths. Electric 2,900 kwh for year is £1,044 and Gas £12,000 kwh is £1,080 total £2,124.

£2,500 - ££2,124 = £376 for the company to divide up into their standing charges. Unless you think Ofgem have to tell them what their standing charges are.

Am I reading OP wrong?  Is OP thinking that he will be charged no more than £2.5k however much a household uses?  

I listened to You and Yours yesterday on R4.  One of the first callers (heating engineer, I think) said that a number of his clients had interpreted the 'cap' in this way -------- 

[Deleted User]

PennyForThem_2 said:

PaulDesmond said:

Spoke to Sainsbury yesterday and they tell me they are still waiting to be told by Ofgem what the unit price is. It was announced by the PM before the death of the queen at 45.34p for electric and 9p for gas and a capped price of £2,500. It is up to the energy companies to do their maths.

Basic maths. Electric 2,900 kwh for year is £1,044 and Gas £12,000 kwh is £1,080 total £2,124.

£2,500 - ££2,124 = £376 for the company to divide up into their standing charges. Unless you think Ofgem have to tell them what their standing charges are.

Am I reading OP wrong?  Is OP thinking that he will be charged no more than £2.5k however much a household uses?  

I listened to You and Yours yesterday on R4.  One of the first callers (heating engineer, I think) said that a number of his clients had interpreted the 'cap' in this way -------- 

I don't think the OP in this case has that misunderstanding, as they've used the typical usage values in their calculation, but I'd put money on tens of thousands of members of the general public making the mistake.

FreeBear

grn99 said:

stewie_griffin said:

I don’t think E.ON Next/Sainsbury’s have told any of there customers yet.

Sainsbury's/E.ON still don't know when they will tell us, when I asked last night.

They need to pull their fingers out then.. A little over a week to go, and I need to know if I should cancel my fixed deal or not.