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

paul_h

Deleted_User said:

Broadly, it seems to be based on whether the day & night rates are quite similar or very different that determines whether both parts go up or one goes up and one goes down.  There's probably a bit of regional thing too.

It seems a odd mechanism that allows EonNext to put both E7 rates up when the EPG single rate for the same region has actually dropped. How can that be fair?

mmmmikey

paul_h said:

Deleted_User said:

Broadly, it seems to be based on whether the day & night rates are quite similar or very different that determines whether both parts go up or one goes up and one goes down.  There's probably a bit of regional thing too.

It seems a odd mechanism that allows EonNext to put both E7 rates up when the EPG single rate for the same region has actually dropped. How can that be fair?

....it just reflects the increase for multi-rate tariffs set by Ofgem, i.e. ultimately it's Ofgem setting the rate and the energy suppliers following what they've set but choosing how much of the discount to set for day and night rates. I'd agree that it's an odd mechanism but it is what it is....

pensionpawn

Night rate up 13.6%, day rate up 6.3%

jonon

pensionpawn said:

Night rate up 13.6%, day rate up 6.3%

Can anyone explain the maths for how the east midlands Gov EPG on electricity is dropping on 1st January 2023, but Eonnext are increasing both Day & Night tariffs? 

[Deleted User]

jonon said:

pensionpawn said:

Night rate up 13.6%, day rate up 6.3%

Can anyone explain the maths for how the east midlands Gov EPG on electricity is dropping on 1st January 2023, but Eonnext are increasing both Day & Night tariffs? 

Because the "Gov EPG" isn't dropping.  The single rate tariff is dropping, but E7 tariffs are not in the same but if the scheme.

jonon

Until now I've only been saving a few £ by being on a E7 tariff, and that's with trying to max out my night usage, doing all my dishwashing and clothes washing at night. With these changes, it's now more expensive and more effort to be on E7.

Does anyone know the EonNext single rate tariffs from 1st January? thanks

Scot_39

jonon said:

pensionpawn said:

Night rate up 13.6%, day rate up 6.3%

Can anyone explain the maths for how the east midlands Gov EPG on electricity is dropping on 1st January 2023, but Eonnext are increasing both Day & Night tariffs? 

As others have pointed out - Ofgem produces seperate tariff cap tables for gas, single rate and multi-rate electric users - for every supply region.  See links off of

https://www.ofgem.gov.uk/publications/default-tariff-cap-level-1-january-2023-31-march-2023

It combines the SR electric with the gas to produce the headline average cap figure - that most of the media concentrate on - as covers majority of households.

In some regions the Ofgem MR caps appear to have increased few p more than SR - relative to Oct cap figures.

The old 17p discount and the new 31.84p - are I suspect based on SR average.

I was expecting a 2-3p increase because of this - and my new E10 not E7 figures post discount - up c2.25p day/night.

But other E7 customers have seen their day increase and night go down - e.g. EDF EM will become c52p/6p - but as a light night user - you probably don't want that sort of tariff split anyway.

As to your second post EOnNext SR price - would I guess be exactly as the govts own quoted regional EPG price.

Check by postcode https://www.eonnext.com/tariff-search

arjar

Just had my January price notification from British Gas.  I'm on E7 in Midlands region.  Basically, everything is the same except that the E7 day rate goes up by 11%.  No change in night rate or standing charges.  Don't understand how this can be consistent with Govt. promise of stable prices through to April.  Puts my total duel fuel costs up by 3.27% on an annual basis - which I do NOT consider to be trivial.  There's something wrong with the Ofgem system if they allow companies to penalise E7 customers.

[Deleted User]

You are not being penalised.  There is not some special scheme to attack you.

The government promise was to not change the £2500 bill for a typical duel fuel user in an average region.

Out of interest, has your weighted average rate been lower than the equivalent single-rate tariff for the last several months? 

arjar

Not sure how to calculate the weighted average.  My rates on E7 since October have been 40.995p (day); 17.239p (night).  The single rate tariff was 33.726p.  

From January the E7 day rate goes up to 45.504p - everything else stays the same for me  (though not sure what happens to the single rate tariff).