Being charged above the price cap

middlemarch_2

I don't know if I'm missing something but yesterday I was looking at switching my energy supplier and when inputting the figures I looked into the current price cap and discovered that Eonnext have been charging me above the price cap, or so it seems to me. I haven't had a really good look yet to see how far back this goes, in case I'm being stupid and missing something but my price cap is meant to be Midlands and I’m currently paying above the price cap at 23.25 p/kWh and standing charge 63.60 p/day for electricity and 6.08 p/kWh and standing charge 31.67 p/day for gas, and yet the Midlands price cap states, 60.575 / 23.038 for electricity and 30.159 / 5.997 for gas, so how come (apart from the gas unit price, I’m paying more than the price cap? Has this happened to anyone else? Oh I should say I'm on the Next Pledge Tracker 12m v5

Newbie_John

5% vat added?

middlemarch_2

Thanks John, I think you're right. I've just seen two different charts with conflicting figures on the price cap rates and I think one is without vat and the other is. I'll look again. thanks!

Ildhund

The Ofgem page gives the price cap figures inclusive of VAT. Note also a significant difference according to how you pay.

Get energy price cap standing charges and unit rates by region | Ofgem

la531983

Also if you have agreed to a fix the price cap does not apply.

FreeBear

la531983 said:

Also if you have agreed to a fix the price cap does not apply.

OP is on Next Pledge Tracker 12m v5 which Eon.Next claims to be £50 cheaper than the SVR (based on 2700kWh electricity, 11500kWh).

Scot_39

5% Vat or payment method  - standard credit cap over £100 more than DD

https://www.ofgem.gov.uk/information-consumers/energy-advice-households/get-energy-price-cap-standing-charges-and-unit-rates-region

Midlands SC inc VAT Jan - Mar = 63.60 = your figure + 5% VAT,

Midlands SR Electric inc VAT = 24.19p = your figure 23.089+ 5% for VAT

Assume Gas likewise.

But then those unit rates should be being discounted by £25/2700 = 0.926p and £25/115000 = 0.217p - if on Next Pledge tracker iirc the way it works - at least up to the TDCV.  Not sure what happens once over TDCV.