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

mmmmikey

superkoopauk said:

Read this in the article.  Doesn't sound good for E7 customers

Ovo, for example, has told us it will not pass on the January increases for those paying by monthly direct debit (provided you're not on Economy 7 or similar) and prepayment

where did you read that? thanks

mmmmikey

...an update from EDF's website:

"Full details of our new prices will be available from 2 December, and you'll be able to view them in MyAccount."

So all should become clear soon....

superkoopauk

mmmmikey - see the original MSE article (it has been updated)

mmmmikey

We now have the next piece of the jigsaw. EDF have published their new pre-EPG rates for January 2023 and you can find them by following the links towards the bottom of this page:

https://www.edfenergy.com/for-home/energy-price-guarantee

Single rate customers can work out their new rate from this by deducting the 31.8p/kWh EPG discount from these. E7 customers will have to wait and see how they apply the EPG discount - as I understand it the rules allow them to apply the discount to the weighted average meaning they could discount the day rate by more if they discount the night rate by less or vice-versa.

EDIT: as an afterthought these rate follow the same pattern as before - day and night E7 rates have gone up by the same proportion

diystarter7

Spoonie_Turtle said:

diystarter7 said:

Hi
I'm very confused
We are now pying close to 400 every month

Does this mean with the rise you/MSE/OP mentions and any subsequent rises won't make a big difference to our payments?

BTW - we are with EDF, dual fuel, dd payments and the variable rate

The Ofgem price cap is what we would be paying without the government guarantee.  The government guarantee is set until the end of March next year.  So as far as I understand, all that should change is how much the government have to pay the suppliers as the difference between the Ofgem cap and the government guarantee. 

I could be missing something though because it's being made out to be more complicated than that.

Thanks to both.
I'm still confused about MSE statement it could rise a "little."
I'm aware about the monthly payments and price cap per unit, standing charges but I was under the impression they are going up by a lot.
Sorry, I am feeling thick.

So the close to 400 we pay at the moment, lets say we keep our usage as predicted, will this amount only rise by a couple of quid if we maintained the usage?

I'm confused.

diystarter7

superkoopauk said:

"what you pay shouldn't change substantially"

I am interested in what exactly this means.  With all the cap variations over different payment types and meter types it is going to be hard for BEIS to minimise this.

Sorry, just read you post. This is exactly what has been confusing me. If you wish, please see my post above.

I though I was the only one not following this statement.

mmmmikey

....and suddenly as if by magic the new rates have appeared in my online account.

E7 night rate for DD customer in East Midlands after EPG = 5.88p/kWh (down from 6.90p/kWh)

E7 day rate after EPG = 51.92p/kWh (up from 47.31p/kWh)

[Deleted User]

diystarter7 said:

Spoonie_Turtle said:

diystarter7 said:

Hi
I'm very confused
We are now pying close to 400 every month

Does this mean with the rise you/MSE/OP mentions and any subsequent rises won't make a big difference to our payments?

BTW - we are with EDF, dual fuel, dd payments and the variable rate

The Ofgem price cap is what we would be paying without the government guarantee.  The government guarantee is set until the end of March next year.  So as far as I understand, all that should change is how much the government have to pay the suppliers as the difference between the Ofgem cap and the government guarantee. 

I could be missing something though because it's being made out to be more complicated than that.

Thanks to both.
I'm still confused about MSE statement it could rise a "little."
I'm aware about the monthly payments and price cap per unit, standing charges but I was under the impression they are going up by a lot.
Sorry, I am feeling thick.

So the close to 400 we pay at the moment, lets say we keep our usage as predicted, will this amount only rise by a couple of quid if we maintained the usage?

I'm confused.

In January, the standing charges are staying exactly the same and the unit prices are changing either up or down by no more than 0.5p per unit.

Which region are you in - look at my post on page 2 with a table that shows how each region's price will change (for single rate tariffs).

[Deleted User]

mmmmikey said:

We now have the next piece of the jigsaw. EDF have published their new pre-EPG rates for January 2023 and you can find them by following the links towards the bottom of this page:

https://www.edfenergy.com/for-home/energy-price-guarantee

Single rate customers can work out their new rate from this by deducting the 31.8p/kWh EPG discount from these. E7 customers will have to wait and see how they apply the EPG discount - as I understand it the rules allow them to apply the discount to the weighted average meaning they could discount the day rate by more if they discount the night rate by less or vice-versa.

EDIT: as an afterthought these rate follow the same pattern as before - day and night E7 rates have gone up by the same proportion

EdF's rate card has all the E7 rates on, and is after the EPG.  You don't need to do any subtractions.

https://www.edfenergy.com/sites/default/files/government_energy_price_guarantee_prices._standard_variable_deemed_and_welcome._credit_meters.pdf

diystarter7

[Deleted User] said:

diystarter7 said:

Spoonie_Turtle said:

diystarter7 said:

Hi
I'm very confused
We are now pying close to 400 every month

Does this mean with the rise you/MSE/OP mentions and any subsequent rises won't make a big difference to our payments?

BTW - we are with EDF, dual fuel, dd payments and the variable rate

The Ofgem price cap is what we would be paying without the government guarantee.  The government guarantee is set until the end of March next year.  So as far as I understand, all that should change is how much the government have to pay the suppliers as the difference between the Ofgem cap and the government guarantee. 

I could be missing something though because it's being made out to be more complicated than that.

Thanks to both.
I'm still confused about MSE statement it could rise a "little."
I'm aware about the monthly payments and price cap per unit, standing charges but I was under the impression they are going up by a lot.
Sorry, I am feeling thick.

So the close to 400 we pay at the moment, lets say we keep our usage as predicted, will this amount only rise by a couple of quid if we maintained the usage?

I'm confused.

In January, the standing charges are staying exactly the same and the unit prices are changing either up or down by no more than 0.5p per unit.

Which region are you in - look at my post on page 2 with a table that shows how each region's price will change (for single rate tariffs).

Hi
Many thanks.
You are a credit to MSE and yourself.