Energy cap calculation as it applies to an all electric household with economy 7

davideo0

From Oct/22 onwards My standing charge (per day) is set to 0.4586p per day 
The Cap for my area is 0.46per day. That's fine!

My day rate  is quoted as 42.253 pkWh, and my night rate as 13.876pkWh.
I understand that for my area the standard Cap is set to 34p/kWh.

It is difficult to verify whether these figures are reasonable without knowing the formula which suppliers are obliged to apply by the government.
Does anyone know where this information may be found?

MWT

davideo0 said:

From Oct/22 onwards My standing charge (per day) is set to 0.4586p per day 
The Cap for my area is 0.46per day. That's fine!

My day rate  is quoted as 42.253 pkWh, and my night rate as 13.876pkWh.
I understand that for my area the standard Cap is set to 34p/kWh.

It is difficult to verify whether these figures are reasonable without knowing the formula which suppliers are obliged to apply by the government.
Does anyone know where this information may be found?

The basis is 58% day use and 42% night use, and when setting the cap there is an assumed consumption of 4,200kWh.

Keep in mind that the 34p figure is a regional average for single-rate meters, not E7, but using the calculation for E7, your blended unit rate is 30.3p (at the assumed 58/42% split).

Spoonie_Turtle

For E7, is it worked out to a unit rate or are they given a figure and have to work backwards like with the single rate cap?

[Deleted User]

Spoonie_Turtle said:

For E7, is it worked out to a unit rate or are they given a figure and have to work backwards like with the single rate cap?

Just like the single rate. They are given a number which caps the total spend for 4200kWh at the 58:42 ratio, and can choose any day/night split that comes under that total.

Spoonie_Turtle

[Deleted User] said:

Spoonie_Turtle said:

For E7, is it worked out to a unit rate or are they given a figure and have to work backwards like with the single rate cap?

Just like the single rate. They are given a number which caps the total spend for 4200kWh at the 58:42 ratio, and can choose any day/night split that comes under that total.

Thanks.  I'm assuming they're published somewhere?  I've found the original Ofgem ones but not the EPG.

[Deleted User]

Spoonie_Turtle said:

[Deleted User] said:

Spoonie_Turtle said:

For E7, is it worked out to a unit rate or are they given a figure and have to work backwards like with the single rate cap?

Just like the single rate. They are given a number which caps the total spend for 4200kWh at the 58:42 ratio, and can choose any day/night split that comes under that total.

Thanks.  I'm assuming they're published somewhere?  I've found the original Ofgem ones but not the EPG.

I’ve not seen them. The only place I ever saw the raw £££ figures for the EPG was the octopus site, but they’re gone now (replaced with the octopus slightly discounted tariffs) and that didn’t have E7 (I think).

QrizB

Spoonie_Turtle said:

Deleted_User said:

Spoonie_Turtle said:

For E7, is it worked out to a unit rate or are they given a figure and have to work backwards like with the single rate cap?

Just like the single rate. They are given a number which caps the total spend for 4200kWh at the 58:42 ratio, and can choose any day/night split that comes under that total.

Thanks.  I'm assuming they're published somewhere?  I've found the original Ofgem ones but not the EPG.

Octopus are still quoting them, see the 6th column of this table for the "weighted average":

Spoonie_Turtle

^ True, I guess the totals could be worked out from the unit rates, but then that's what Octopus are charging and may not necessarily reach the starting figures.

davideo0

MWT said:

davideo0 said:

From Oct/22 onwards My standing charge (per day) is set to 0.4586p per day 
The Cap for my area is 0.46per day. That's fine!

My day rate  is quoted as 42.253 pkWh, and my night rate as 13.876pkWh.
I understand that for my area the standard Cap is set to 34p/kWh.

It is difficult to verify whether these figures are reasonable without knowing the formula which suppliers are obliged to apply by the government.
Does anyone know where this information may be found?

The basis is 58% day use and 42% night use, and when setting the cap there is an assumed consumption of 4,200kWh.

Keep in mind that the 34p figure is a regional average for single-rate meters, not E7, but using the calculation for E7, your blended unit rate is 30.3p (at the assumed 58/42% split).

Thank you MWT.
My estimated power consumption is 11500 kWhrs pa with an approximate 67%/33% day/night split. So, applying the blended unit rate, my estimated annual cost should be 11500x30.3p = £3485? 
Or have I assumed too much?

molerat

No.  The blended rate price is based on the 4200 kWh cap priced units split 58:42, it is not a real life figure.  Your cost will be based on 67:33, 7705 day and 3795 night, so at 42.253 and 13.876 will be £3255.39 + £526.59 = £3781.98 - a personal blended rate of 32.89p - plus £167.39 SC so a total of £3949.37.