Energy price cap from July 2023 (merged)

IainHL

Does anybody know the unit rates for Economy 7 please, or able to tell me where to look (North West region)?

molerat

IainHL said:

Does anybody know the unit rates for Economy 7 please, or able to tell me where to look (North West region)?

This is down to individual suppliers and will unlikely be published for a while.

Scot_39

IainHL said:

Does anybody know the unit rates for Economy 7 please, or able to tell me where to look (North West region)?

Right now we only have the Ofgem totals for multirate electric.

I will download and compare this evening - they don't always change by the same as the single rate - there was a c2.2p difference in price changes SR vs MR  here in EM in Jan for instance

But the individual suppliers set their own day night price splits for svt and fixes now emerging too - so the Ofgem tables only an indication - if the suplliers then change balance - and many did with epg.

So suspect those who publish all regions like edf and Octopus will do so in a few days / coming weeks. July still a while away.

Other suplliers annoyingly don't disclose - without asking for a quote.  So will have to wait for notices or new rates showing on on line quotes nearer July.

The_Green_Hornet

MattMattMattUK said:

The_Green_Hornet said:

MattMattMattUK said:

The_Green_Hornet said:

MattMattMattUK said:

Chrysalis said:

There seems to be no political appetite for addressing SC sadly.  Unit rates and overall annual typical usage cost is what grabs the headlines.

Why does the Standing Charge to be "addressed"? It is there to cover specific costs, there is a legitimate reason for it to be charged as it is, why should it be "addressed"?

Greg Jackson, CEO and Founder of Octopus Energy says:

“High standing charges are egregious. This £40m package is the beginning of our battle to bring them down. Far too many costs have been loaded onto standing charges - from grid and distribution charges to failed suppliers. These charges just make it more difficult for hard-pressed customers to save money through efficiency and Octopus is making a stand to change that.”

https://octopus.energy/press/octopus-takes-stand-against-standing-charges-with-40m-package/

Marketing statements to the media to appeal to the uneducated public do not constitute a valid analysis of the costs and merits of the billing structure. 

You are absolutely correct. It is much better to listen to the uneducated public posting anonymously on internet forums,

Or maybe look at the factual analysis published by Ofgem and research bodies. You can tell the post from Jackson is a marketing statement because he does not actually propose how the costs from standing charges should be recovered if they are not on the standing charge, and when pressed in interviews he has declined to answer that part, only that they should be lower. 

Again you are 100% correct. Ofgem is a a shining example of how an industry should be regulated for the benefit of its' customers. Allowing dozens of suppliers into the energy market without proper due diligence for the sole reason on introducing competition to break up the big 6 dominance was an absolute master stroke. 

otb666

Stick for now and possibly review again 1/10/23???? I am on
SP Help Beat Cancer Green Fixed February 2024 CM1 Unit price

All kWh 28.179p Standing charge

25.400p per day Exit fees

£0.00 Gas Unit price

All kWh 6.779p Standing charge

27.752p per day  Please check for me I am East Midlands

Scot_39

Mstty said:

What we can draw from this is the last 3 months prices mean even an even lower cap come October.

Expect some price cap beating tariffs to be released soon.

CI forecasts say Oct yes. 

But driven by gas ONLY as electric forecast up.

Q1 24 - Jan 24 - cap forecast up c£70 df - driven by both gas and electric rising.


https://www.cornwall-insight.com/press/cornwall-insight-release-final-forecast-for-july-price-cap


And anyone releasing a  new tariff - especially a fix - will be looking beyond Q4.

molerat

otb666 said:

Stick for now and possibly review again 1/10/23???? I am on
SP Help Beat Cancer Green Fixed February 2024 CM1 Unit price

All kWh 28.179p Standing charge

25.400p per day Exit fees

£0.00 Gas Unit price

All kWh 6.779p Standing charge

27.752p per day  Please check for me I am East Midlands

July 2023 - September 2023			Implied max. Rates
Region	G-SC p/day	G-p/kWh	E-SC p/day	E-p/kWh
North West	29.11	7.513	51.42	29.936
Northern	29.11	7.430	57.03	29.287
Yorkshire	29.11	7.439	55.60	29.263
Northern Scotland	29.11	7.463	58.98	29.969
Southern	29.11	7.607	49.60	30.295
Southern Scotland	29.11	7.463	61.67	29.667
N Wales and Mersey	29.11	7.544	61.82	31.096
London	29.11	7.511	38.18	31.191
South East	29.11	7.538	47.21	30.899
Eastern	29.11	7.399	43.66	30.720
East Midlands	29.11	7.379	50.31	29.482
Midlands	29.11	7.432	53.96	29.608
Southern Western	29.11	7.713	58.28	29.948
South Wales	29.11	7.664	53.83	30.223
Average Cap	29.11	7.507	52.97	30.113

The table produced by PeterGr earlier in this thread.  As long as your rates include VAT you are still below the cap, especially the electric SC.

[Deleted User]

The_Green_Hornet said:

MattMattMattUK said:

The_Green_Hornet said:

MattMattMattUK said:

The_Green_Hornet said:

MattMattMattUK said:

Chrysalis said:

There seems to be no political appetite for addressing SC sadly.  Unit rates and overall annual typical usage cost is what grabs the headlines.

Why does the Standing Charge to be "addressed"? It is there to cover specific costs, there is a legitimate reason for it to be charged as it is, why should it be "addressed"?

Greg Jackson, CEO and Founder of Octopus Energy says:

“High standing charges are egregious. This £40m package is the beginning of our battle to bring them down. Far too many costs have been loaded onto standing charges - from grid and distribution charges to failed suppliers. These charges just make it more difficult for hard-pressed customers to save money through efficiency and Octopus is making a stand to change that.”

https://octopus.energy/press/octopus-takes-stand-against-standing-charges-with-40m-package/

Marketing statements to the media to appeal to the uneducated public do not constitute a valid analysis of the costs and merits of the billing structure. 

You are absolutely correct. It is much better to listen to the uneducated public posting anonymously on internet forums,

Or maybe look at the factual analysis published by Ofgem and research bodies. You can tell the post from Jackson is a marketing statement because he does not actually propose how the costs from standing charges should be recovered if they are not on the standing charge, and when pressed in interviews he has declined to answer that part, only that they should be lower. 

Again you are 100% correct. Ofgem is a a shining example of how an industry should be regulated for the benefit of its' customers. Allowing dozens of suppliers into the energy market without proper due diligence for the sole reason on introducing competition to break up the big 6 dominance was an absolute master stroke. 

I would suggest that Octopus has done more to disrupt the domestic energy sector (in a good way) than any other supplier. If competition is not allowed, then we might as well pay £Bns to ‘buy out’ all the existing suppliers and renationalise the energy sector. 

otb666

@molerat Yes they include VAT.  Thank you for this and the help you gave me on my pension as well Good job you dont charge as always indebted to you

mmmmikey

groan - here we go....