We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

31% increase on electricity daily standing charge, is this fair and just?

1235»

Comments

  • badmemory
    badmemory Posts: 10,624 Forumite
    Tenth Anniversary 10,000 Posts Name Dropper
    Didn't they originally explain the extortionate rises in the standing charges as being necessary to compensate for the number of compaies that went kaput.  If so how many years did they calculate that cost over?  Or is it just "we have conned you into paying for 2 years, tough luck you are stuck with it now"?
  • Scot_39
    Scot_39 Posts: 4,574 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper
    badmemory said:
    Didn't they originally explain the extortionate rises in the standing charges as being necessary to compensate for the number of compaies that went kaput.  If so how many years did they calculate that cost over?  Or is it just "we have conned you into paying for 2 years, tough luck you are stuck with it now"?

    Ofgem gave a price breakdown when they released the new cap - the press releaase version actually annotated with actual figures for key amounts like SoLR and CfD adjustments etc.




    Network SoLR - was £61 in Jan, but £19 for Apr

    But Network Non_SoLR - up to more than cover that

    And then there is an adjustment lump sum for something.


    You might be able to delve into the spreasheets - and find out more - but last time I went that far - just ran into a series of company estimates this, comapany estimates that etc. so didn't even continue to find the bit I went in for.



  • pochase
    pochase Posts: 3,449 Forumite
    1,000 Posts Third Anniversary Name Dropper
    Fair
    badmemory said:
    Didn't they originally explain the extortionate rises in the standing charges as being necessary to compensate for the number of compaies that went kaput.  If so how many years did they calculate that cost over?  Or is it just "we have conned you into paying for 2 years, tough luck you are stuck with it now"?
    It is only one year, not two, and the SOLR payment part was  drastically reduced, network cost went up.

    You can all find all the information at Ofgem.
  • dealyboy
    dealyboy Posts: 2,027 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    edited 25 March 2023 at 2:17PM
    Rip off
    @The_Green_Hornet provided a link in another thread to an OFGEM explainer ...

    https://www.ofgem.gov.uk/information-consumers/energy-advice-households/costs-your-energy-bill

    ... sheds (electric) light on OFGEM and suppliers, their duties and responsibilities including the usage of the standing charge.

    Tag. @lee.0308
  • rodmaker
    rodmaker Posts: 26 Forumite
    Third Anniversary 10 Posts Name Dropper
    Rip off
    Ayr_Rage said:
    It is NOT 31% for everyone !
    24% for me. I'm with Octopus. E7 Variable.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 354.6K Banking & Borrowing
  • 254.5K Reduce Debt & Boost Income
  • 455.5K Spending & Discounts
  • 247.5K Work, Benefits & Business
  • 604.3K Mortgages, Homes & Bills
  • 178.6K Life & Family
  • 261.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture