Regional Energy Price Cap

phnd

My first post!  

I am on a SVT dual fuel in the Southern region and am trying to find out what my regional price caps (gas, electric and standing charges).  I have spoken with OFGEM and whilst they have been quick to respond with links I still cannot decipher the ablest to find the relevant info.  I was hoping to compare suppliers against the regional caps to see if any are at the maximum.

any ideas ? I attach the latest OFGEM reply

Gerry1

Welcome to the forum.

Gas     

Unit rate: 7.61p per kilowatt hour (kWh)

Standing charge: 29.11p per day

Electricity

Unit rate: 30.30p per kWh
Standing charge: 49.60p per day

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

CSI_Yorkshire

phnd said:

I was hoping to compare suppliers against the regional caps to see if any are at the maximum.

They almost all are.

Scot_39

Ofgem tables are designed for industry not consumers - hence exclude vat at 5%.

For each of the 3 main categories, single rate electric, gas and multirate electric (E7 etc).

They table 3 sets of figures for each depending on payment method,
other payment = direct debit,
standard credit ( pay on receipt of bill e.g by cheque or at bank counter etc) 
and prepay.

The nil kWh column is the annual Standing charge in £ ex 5% vat.

Your daily SC = (£nil kWh *100 / 365 * 1.05) p

The total columns for 3100 kWh SR electric, 12000 kWh gas and 4200 kWh MR electric are totals inc SC and again ex vat.

So

unit rate for SR  = [£3100kWh-£nilkWh]/3100*100*1.05 

For gas use 12000, for average MR use 4200.

The MR probably least useful as individual suppliers can split that total differently between peak and off peak rates.


The actual £2074 duel fuel cap is a regional average  - currently for 2900 kWh SR electric (not 3100 as tabled) and 12000kWh gas. And is produced just as a guide rather than an actual billing amount for any one person.

That 2900 and 12000 is Ofgems analyis / guess for average for typical 2-3 bed 2-3 person duel fuel home.  It itself is going to drop to 2700 and 11500 kWh. So Oct cap number will no longer be comparable with say this quarter or recent past anyway.  I guess it used to be 3100 kWh electric year ago.

There are easier ways - MSE link above.

 I tend to just look at edf epg rate card tables of late - as sure they or at least recently have been based on Ofgem cap. But for e7 note they do tend to have lower off peak e7 than others, but higher peak to balance - suits some users, not others.   

See the standard variable rate card 1st pdf link at 

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

Or direct

https://www.edfenergy.com/sites/default/files/dm1903_standard_variable_deemed_and_welcome_rate_card._for_customers_with_standard_e7_smart_payg_and_prepayment_meters.pdf

I use it as a guide but do check against Ofgem for my own region.

As one of the few who table for all regions / payment methods openly.  (Octopus do regional tables on forum - but discount some SC a couple of % and in past iirc prepay rates).

The gov Bury rates in detailed  analysis too. There are links in some other posts in this forum.

phnd

Thank you for this information.  Applying the formulae above comes out EXACTLY to my supplier’s charges

Scot_39

Oops - one thing I forget to add - EPG discounts currently still apply to Ofgem gas unit rates for prepay customers - and still tabled on the gov uk EPG pages.

The regional rates - at 

https://www.gov.uk/government/publications/energy-price-guarantee-regional-rates/energy-price-guarantee-prepayment-meters-regional-rates-july-to-september-2023 

(There's also a full set of SR and gas regional prices for other payment / direct debit - I guess to allow a direct comparison of the two - but both are ex VAT) 

But the balancing of the extra on SC - for both gas and electric - still requires a decent level of kWh usage - so suspect many low users - will be losing out - on gas and electric - due to higher SC - especially for now in summer months. Not exactly as many might have expected from the press and political fanfare at the time.