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

[Deleted User]

smart meter (why I thought they saved money because of no meter reading).

Smart metering comes at a cost that we all have to pay. At 2019 prices the rollout cost was based on a figure of £12.6Bn. Given unexpected work such as SMETS1 meter integration etc, I would expect this figure to be much higher. Standing charges also include such things as the Warm Home Discount; Eco scheme costs.

QrizB

arnoldy said:

But its not clear what Policy costs are, adjustments, headroom, smart meter (why I thought they saved money because of no meter reading).

It's explained in the documents linked from the Ofgem page I linked to above.

[Deleted User]

GingerTim said:

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.

The business case for smart meters assumes a saving of £6 per year per household for non manual meter reading. Smart meter savings are based on better supply versus demand management through such things as better consumer usage profiling and time-of-use tariffs.

MSE_James

Hello - we've merged a couple of threads (and yes, we know the first post in the thread has a later timestamp than the ones that follow) in order that people coming to the forum via the linked news story find the main price cap discussion in one place. 

dealyboy

MSE_James said:

Hello - we've merged a couple of threads (and yes, we know the first post in the thread has a later timestamp than the ones that follow) in order that people coming to the forum via the linked news story find the main price cap discussion in one place. 

So @t0rt0ise has been demoted to second ... it's OK he's the reptiles' champion  .

Mstty

dealyboy said:

MSE_James said:

Hello - we've merged a couple of threads (and yes, we know the first post in the thread has a later timestamp than the ones that follow) in order that people coming to the forum via the linked news story find the main price cap discussion in one place. 

So @t0rt0ise has been demoted to second ... it's OK he's the reptile's champion  .

Indeed @MSE_James is the cheating hare in the tortoise v hare race today 😂

spot1034

Cornwall Insight's latest predictions based on yesterday's closing prices.

https://www.cornwall-insight.com/predictions-and-insights-into-the-default-tariff-cap/

MSE_James

Our price cap calculator has now been updated with the new rates - enter your annual usage and it will work out what the October price cap will be for you in your region:

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

Swipe

MSE_James said:

Our price cap calculator has now been updated with the new rates - enter your annual usage and it will work out what the October price cap will be for you in your region:

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

I wish these links would open in a new browser tab. Is that possible? I can't see any way to set this.

Mstty

Swipe said:

MSE_James said:

Our price cap calculator has now been updated with the new rates - enter your annual usage and it will work out what the October price cap will be for you in your region:

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

I wish these links would open in a new browser tab. Is that possible? I can't see any way to set this.

Right click or long hold on android