British Gas Calculations...

[Deleted User]

OK, I get why there are energy price caps, although I fume when I see the huge profits these companies make for the benefit of their investors - at the expense of their consumers, but I'm confused how BG calculates my forthcoming bills.

For clarity, I'm on the standard variable rate with BG, and consumption of gas and electricity over the last 12 months cost me (from 01/10/2021 to 01/09/2022 and based on my March and September bills) was £1,868.87, i.e. an average of £155.75 per month).  Having paid £2,141.70 by DD I'm left with a credit of about £270.

Assuming the use doesn't change and believing the BBC's estimate that energy bills will increase by "...about 27%..., I calculate my new energy bill would be £2373.47 (or £198 per month).  Except BG have calculated my new monthly DD at £260.

Have I missed something here, please?

Thanks

[Deleted User]

Ignore historic pounds and any generic percentages. Use your actual consumption in kWh and actual unit rates.

 Come back with those numbers and we can help easier.

LindsayT

Just to add 01/10/2021 to 01/09/2022 is not 12 months anyway.

BooJewels

I think you've missed several things to be honest - as @[Deleted User] said, give some actual meter reading numbers and we can work it out for you - you really can't project your future bills by your monthly past DD amounts.

For example, my gas bill with BG for last October was £57.45 for 130m³.  The same volume of gas this October will cost me £160.21.  Last October I was in a good fix at a little over 3p per kWh and this October it is 10.3p/kWh - after my fix ended and 2 big price increases.

[Deleted User]

LindsayT said:

Just to add 01/10/2021 to 01/09/2022 is not 12 months anyway.

I should have explained these are the included payment dates, so it is 12 months.

Thanks :-)

[Deleted User]

[Deleted User] said:

OK, I get why there are energy price caps, although I fume when I see the huge profits these companies make for the benefit of their investors - at the expense of their consumers, but I'm confused how BG calculates my forthcoming bills.

Energy suppliers are not making huge profits at the expense of their consumers. The profits are being made by energy producers: that is the companies that drill for gas etc. The international energy market responds as all markets do: if there is a shortage of supply then the wholesale cost goes up. We have a World-wide shortage of supply now that the Russian tap has turned off.

As of August 22, the supplier profit level set by Ofgem for its capped tariff was 1.9%.

[Deleted User]

Deleted_User said:

Ignore historic pounds and any generic percentages. Use your actual consumption in kWh and actual unit rates.

 Come back with those numbers and we can help easier.

I hope this is what you were after.  Reading these bills is a special kind of fun...

Gas:

23/09/2021 to 30/11/2021

2199.18kWh at 2.869p/kWh for 69 days at 13.956p/day standing charge

01/12/2021 to 31/03/2022

6775.25kWh at 3.970p/kWh for 112 days at 24.879p/day standing charge

Electricity:

23/09/2021 to 30/11/2021

911kWh at 14.776p/kWh for 68 days at 17.016p/day standing charge

01/12/2021 to 31/03/2022

1820kWh at 19.695p/kWh for 121 days at 22.965p/day standing charge

Gas:

23/03/2022 to 31/03/2022

367.46kWh at 3.970p/kWh for 9 days at 24.879p/day standing charge

Gas

01/04/2022 to 23/09/2022

2638.61kWh at 7.123p/kWh for 175 days at 25.923p/day standing charge

Electricity:

23/03/2022 to 23/09/2022

2051kWh at 27.100p.kWh for 176 days at 41.328p/day standing charge

Thank you.

lindatoo

Using your numbers and without knowing your region I've used London rates, your annual cost comes in at £3200, so £260 a month is about right.

QrizB

OK, so your annual use is roughly 12000kWh for gas and 4700kWh for electricity.

On the EPG rates that will cost something like £3350 per year, £280 per month.

You've currently got £270 credit on your account which will reduce that monthly DD by £20 or so, so £260 per month is about right.

BooJewels

I'd concur with the prices above - I'm in the north west, so one of the cheapest regions, so I get it to £3,085 for the year - so you might end up somewhere between that and the numbers already quoted.  So in my case, the monthly DD would end up around £240.

You will get the £400 back off that from the Government this year - I think BG are refunding £66 or £67 back to you per month for 6 months, once they've got your DD payment in.

Mstty

So now you are forearmed with actual kWh and standing charge calculations if you think that figure of £260 a month is above what you want to pay then energy usage reduction will help.

Gas looks good unless it's a very small house but electricity usage is a little high and this is where you could see most savings.