MSE News: Energy price cap to rise in January – your energy rates could change slightly

167891012»

Comments

  • Officer_Dibble
    Officer_Dibble Forumite Posts: 325
    Part of the Furniture 100 Posts Photogenic Name Dropper
    Forumite
    Must do, they'd be very low otherwise. Aren't both rates higher than the normal all day EPG rate though? Switching away from E10 looks like it would definitely be beneficial, whatever her usage patterns.
    4.7kWp (12 * Hyundai S395VG) facing more or less S + 3.6kW Growatt inverter + 6.5kWh Growatt battery. SE London/Kent. Fitted 03/22 £1,025/kW + battery £2495

  • dealyboy
    dealyboy Forumite Posts: 1,218
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    Forumite
    Hi TPN ...
    My mother is on an Economy 10 tariff with Scottish Power in the Mersey (formally Manweb) area of the country. Before the 1st of January her unit rates were as follows:
    • off-peak -> 30.113p
    • all-day -> 37.001p 
    As of the 1st of January her new rates are:
    • off-peak -> 38.69p
    • all-day -> 40.17p
    That's a 28.5% increase for off-peak power, which she uses mostly. If I manage to find a cheaper deal for her, I'll post it here. As a lot of other forum members have said, Economy 7 and Economy 10 rates are poorly advertised.
    E10 rates are not widely provided these days (they look expensive) but E7 rates are generally available. E7 tariffs do vary according to the supplier, region and payment method but average around the equivalent of the Energy Price Guarantee Single Variable Tariff of 34p to 35p when the usage is in the proportion of 58% peak (day) 42% off-peak (night).

    For me (Eastern) EDF: day is 55p day 7p night, E.ON Next is 47p day 17p night (approximate figures), but they both work out to be the same EPG SVT rate of 34.5p for the standard day/night ratio.

    You will need to obtain your mother' annual usage day/night split, night being the 7 hours the off-peak is active (varies by region but will typically be 0:00 (or 01:00) to 07:00 (or 08:00), you may get some information from a bill but I recognise the current tariff is E10 so you may need to estimate and then work out which supplier would be cheaper. I do it by multiplying my day usage percentage by the supplier's day rate in pence inc. VAT and adding my night usage percentage by the supplier's night rate to get a single rate equivalent, comparing supplier by supplier. Note that the standing charge doesn't seem to vary within a region. People have found that for high night consumption EDF works out best, but of course this is only anecdotal.

    Suppliers websites provide quotes online, but you may need to phone suppliers as the meter is E10 based.


  • Spoonie_Turtle
    Spoonie_Turtle Forumite Posts: 6,729
    1,000 Posts Fourth Anniversary Name Dropper
    Forumite
    caveman38 said:
    dealyboy said:
    Hi moley ...
    molerat said:
    My Eon Next NextFlex single rate is showing as 32.77p today against 33.07p yesterday, £8.70 pa less for Mr Average.
    EDF gas down to 10.276p from 10.277p, a 12p pa saving.
    Every little helps

    ... interesting, well saved! ... whereas ours (Eastern region) is showing as 35.13p up 0.07p (SC 38.94p unchanged). As you may known I have E7 which has gone up about 2.5p  to about 34.5p (EPG single rate equivalent on standard day:night usage ratio).


    Like you Dealboy, mine is showing 35.13. However, I was only paying 33.39 (50.39 - 17) for Eastern - why the rise?
    Are you sure that wasn't before VAT?  Eastern EPG was 35+ already before, the discount wouldn't have reduced it below the floor.  
    33.39×1.05=35.0595
  • caveman38
    caveman38 Forumite Posts: 1,285
    Part of the Furniture 1,000 Posts Photogenic
    Forumite


    Spot on Spoonie. I hadn't accounted for VAT. Whereas the new rate shows it.

    Energy Used xxxx @ 50.39p/kWh 
    Energy Price Guarantee xxxxWh @ 17.00p/kWh 
    Standing Charge 30 days @ 37.082p/day 
    Subtotal of charges before VAT  @ 5%
    Total Electricity Charges xxxx

    From Jan 1
    Electricity
    Next Flex
    35.13 p/kWh 38.94 p/day

    (All rates inc. VAT)


    Thanks for pointing that out. I'm getting older but not wiser.


Meet your Ambassadors

Categories

  • All Categories
  • 338.8K Banking & Borrowing
  • 248.6K Reduce Debt & Boost Income
  • 447.5K Spending & Discounts
  • 230.7K Work, Benefits & Business
  • 600.7K Mortgages, Homes & Bills
  • 171K Life & Family
  • 243.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards