New prices in April

EssexHebridean

scoobydoob said:

MSE_James said:

The per-unit prices from 1 April are not yet known - once Ofgem announces the headline figure it takes a while for all the number-crunching to happen to arrive at the figures for different regions and payment methods.

But when the numbers are known to that level of detail, this page on the MSE site will be updated to include them:

https://www.moneysavingexpert.com/utilities/what-are-the-price-cap-unit-rates-/ 

As a rough guide, I've used the calculator and my electricity is going up from 1,230 to 1,660 annually. That's a 35% increase on the total bill. Even without taking Std Chgs into account, that's a much bigger hike than the 20% being talked about in various circles?

Have you factored in loss of the £400 EBSS payments?

ariarnia

its also a bit more complicated because the price hasn't actually been constant for the last 12 months and the calculator only shows 12 months at the october cap rate.

so the calculator is more of a what would you pay if things didn't change than a here's how much you will pay vs how much you did pay. 

scoobydoob

EssexHebridean said:

scoobydoob said:

MSE_James said:

The per-unit prices from 1 April are not yet known - once Ofgem announces the headline figure it takes a while for all the number-crunching to happen to arrive at the figures for different regions and payment methods.

But when the numbers are known to that level of detail, this page on the MSE site will be updated to include them:

https://www.moneysavingexpert.com/utilities/what-are-the-price-cap-unit-rates-/ 

As a rough guide, I've used the calculator and my electricity is going up from 1,230 to 1,660 annually. That's a 35% increase on the total bill. Even without taking Std Chgs into account, that's a much bigger hike than the 20% being talked about in various circles?

Have you factored in loss of the £400 EBSS payments?

Yes, the 1230 I paid in the last year is before the £400 rebate.
Regards

ariarnia

i havent sat down to work it out but i just thought of something else that might explain it. 

your annual bill is about half the cap. so that means the increase to the standing charge will be proportionally more of your bill. so that could maybe tilt the percentages closer to 35 than the 20 it would be for someone spending the average (as its a fixed cost)?

sorry just seen you said it was already ignoring the standing charge. 

can you maybe give us your annual unit use in kwh to play with?

Spoonie_Turtle

scoobydoob said:

MSE_James said:

The per-unit prices from 1 April are not yet known - once Ofgem announces the headline figure it takes a while for all the number-crunching to happen to arrive at the figures for different regions and payment methods.

But when the numbers are known to that level of detail, this page on the MSE site will be updated to include them:

https://www.moneysavingexpert.com/utilities/what-are-the-price-cap-unit-rates-/ 

As a rough guide, I've used the calculator and my electricity is going up from 1,230 to 1,660 annually. That's a 35% increase on the total bill. Even without taking Std Chgs into account, that's a much bigger hike than the 20% being talked about in various circles?

The cap is across dual fuels, you are looking at just one.  The price changes may not be exactly equal for both fuels.

scoobydoob

The annual usage is roughly 3200kwh, but I guess it's all a bit up in the air at the moment until the companies come out with their new unit prices and standing charges.

molerat

Based on £3K and using the cap SC & gas unit price electric should come in at around 40/41p so I reckon my personal EPG increase will be around +22% electric and +21% gas.  I have ignored any government bungs, they were just extra spending money, I paid for my energy use with my own money

Scot_39

scoobydoob said:

The annual usage is roughly 3200kwh, but I guess it's all a bit up in the air at the moment until the companies come out with their new unit prices and standing charges.

The SC and the unit rates - for gas and SR electric are actually set by Ofgem - not the domestic suppliers who supply and bill us - and the govt then sets the appropriate discount to bring down to the headline EPG unit prices (at the mythical £2500 / currently AFAIK £3000 come Apr 1st pseudo cap equivalent use price).

E7 / multirate also has it's own seperate Ofgem 4200 kWh regional price table from Ofgem - for this quarter all the tables they give to suppliers are at (and as for suppliers - think they all exclude the 5% VAT).

https://www.ofgem.gov.uk/sites/default/files/2023-02/Default tariff cap level - 1 April 2023 - 30 June 2023.pdf

But in reality - the different suppliers have different ways of splitting these between day and night rates - so E7 / multirate predictions are less predictable.  Octopus iirc even refused to pass on some Ofgem price increases in Jan for non DD customers.

Note these tables are all pre EPG discount - they are the prices that would apply without any discount. 

And until we know 100% whether the rise is happening - difficult to estimate the exact rates we will be paying.

EssexHebridean

Martin is leaning ever closer to the view that the EPG will stay where it is - and allowing for the support his letter is gaining literally by the day I’d say he’s probably right to be gaining confidence in the idea. 

It’s probably too early to be comfoin assuming the rise won’t happen, but it’s certainly beginning to look more like it may not. Ironically the exception there if it is frozen may well be for E7 customers who will potentially see a change to their day/night split again which could cause an increase in costs - it will be the second time this year for most if so! 

Shedman

A number of reports in the papers today that certain energy supply company chiefs are fairly convinced he'll pull the rabbit out of the hat on March 15 and keep EPG where it is or close to it.