MSE News: Energy bills to fall by 7% as new Price Cap is announced

AndyDragon

Thanks for the breakdown
it looks like my eon loyalty fixed v4 is not too different so am still happy I froze as the money saved up until October offsets for sure

gas: 7.31kwh and 23.08stand
ekec: 29.3kwh and 47.94stand

I’m south west 

QrizB

As a bit of nostalgia, does anyone remember this from a year ago?

https://www.cornwall-insight.com/cornwall-insight-release-final-predictions-for-octobers-price-cap/

CI were forecasting an October 2023 cap of £4807.11.

I'm sure they offered that forecast in good faith but it does show the limitations of their models!

vision2009

The rip off continues. Standing charge going up yet again. It will soon be £1 a day to boost their profits. It’s time something was done about this.

matt_drummer

vision2009 said:

The rip off continues. Standing charge going up yet again. It will soon be £1 a day to boost their profits. It’s time something was done about this.

Please explain how you are being ripped off.

Don't just say the prices are too high and they make too much money.

Explain how you would deliver energy at a lower cost, where would you save money and how much do you think the true charges should be?

arnoldy

superkoopauk said:

Thanks.  So standing charges going up again - that will annoy plenty of people

There is a lot of smoke screening going on about the standing charges, it would be good to see the breakdown of the near £1/day charges. How much is actually network maintenance, how much is us paying for bad debt, green levies*, and "social charges" etc ? if anyone has info on the breakdown it would be good.

*or are these bundled up in other parts of the bill?

QrizB

vision2009 said:

Standing charge going up yet again.

Standing charges are an interesting one. From here:

The biggest change in "things that affect standing charges" looks to be operating costs, which have increased by £14.

Most of the saving on the total bill comes from a reduction in wholesale costs (-£101) and adjustment allowance (-£54).

arnoldy said:

There is a lot of smoke screening going on about the standing charges, it would be good to see the breakdown of the near £1/day charges.

Is the chart above a good enough breakdown?

If not, you can see all the individual figures here:
https://www.ofgem.gov.uk/publications/energy-price-cap-default-tariff-1-october-31-december-2023

Scroll to the bottom of the page and you can download the model and all the annexes. Then you can fill your boots with detail!

Mstty

vision2009 said:

The rip off continues. Standing charge going up yet again. It will soon be £1 a day to boost their profits. It’s time something was done about this.

To be honest the infrastructure needs a lot of money to harness all this green energy produced. Lots is being wasted because of the old infrastructure. It should in theory drive the price per kWh down(in theory)

[Deleted User]

Mstty said:

vision2009 said:

The rip off continues. Standing charge going up yet again. It will soon be £1 a day to boost their profits. It’s time something was done about this.

To be honest the infrastructure needs a lot of money to harness all this green energy produced. Lots is being wasted because of the old infrastructure. It should in theory drive the price per kWh down(in theory)

Most consumers have not cottoned onto the downsides of renewable energy: that is, constantly variable output, and generation in areas far away from where the power is needed. Future costs are not going to be helped by the fact that some MPs are now pushing for an offshore Grid and underground cables which has the potential to increase the cost of the Grid improvements by a factor of 10.

It is also convenient for Governments of all colours to add these costs to standing charges. It is undoubtedly a form of taxation that avoids party manifestos or any Parliamentary scrutiny. That said, our failure to invest in sewers; grids etc is now coming home to roost.

arnoldy

QrizB said:

vision2009 said:

Standing charge going up yet again.

Standing charges are an interesting one. From here:

The biggest change in "things that affect standing charges" looks to be operating costs, which have increased by £14.

Most of the saving on the total bill comes from a reduction in wholesale costs (-£101) and adjustment allowance (-£54).

arnoldy said:

There is a lot of smoke screening going on about the standing charges, it would be good to see the breakdown of the near £1/day charges.

Is the chart above a good enough breakdown?

If not, you can see all the individual figures here:
https://www.ofgem.gov.uk/publications/energy-price-cap-default-tariff-1-october-31-december-2023

Scroll to the bottom of the page and you can download the model and all the annexes. Then you can fill your boots with detail!

Thanks, great data.

But its not clear what Policy costs are, adjustments, headroom, smart meter (why I thought they saved money because of no meter reading). Added together these bits are £275!! Most people have to earn £500 a year to get that amount in their pockets after tax, NI, student loan etc.

GingerTim

arnoldy said:

QrizB said:

vision2009 said:

Standing charge going up yet again.

Standing charges are an interesting one. From here:

The biggest change in "things that affect standing charges" looks to be operating costs, which have increased by £14.

Most of the saving on the total bill comes from a reduction in wholesale costs (-£101) and adjustment allowance (-£54).

arnoldy said:

There is a lot of smoke screening going on about the standing charges, it would be good to see the breakdown of the near £1/day charges.

Is the chart above a good enough breakdown?

If not, you can see all the individual figures here:
https://www.ofgem.gov.uk/publications/energy-price-cap-default-tariff-1-october-31-december-2023

Scroll to the bottom of the page and you can download the model and all the annexes. Then you can fill your boots with detail!

Thanks, great data.

But its not clear what Policy costs are, adjustments, headroom, smart meter (why I thought they saved money because of no meter reading). Added together these bits are £275!! Most people have to earn £500 a year to get that amount in their pockets after tax, NI, student loan etc.

You have to install them first.