MSE News: E.on and EDF launch limited trials of 'low Standing Charge' tariffs

QrizB

That Octopus low s/c would save me £49 over nine months (of only using electric) and then for winter the much higher gas rate would claw it all back,

Apparently the gas breakeven point vs. the SVT is in the 60-70,000 kWh/yr range. You must be a seriously heavy gas user!

For electricity it's ~2500 kWh/yr, which seems more reasonable. Maybe 40% of single-rate domestic accounts use less than that.

pete-20-11

https://forums.moneysavingexpert.com/discussion/comment/82062823#Comment_82062823

Not sure I believe that. I calculated it to be 7500kWh break even for gas.

debitcardmayhem

https://forums.moneysavingexpert.com/discussion/comment/82062823#Comment_82062823

https://forums.moneysavingexpert.com/discussion/comment/82062832#Comment_82062832

I did edit the earlier post, the figures were taken from an early post, and one tariff was fixed and the other was SVT ergo i was comparing apples with pears .

bristolleedsfan

https://forums.moneysavingexpert.com/discussion/comment/82062800#Comment_82062800

The Low Standing Charge Tariff trial explained | Octopus Energy

QrizB

https://forums.moneysavingexpert.com/discussion/comment/82062850#Comment_82062850

Thanks DCM. I've added my own calculations (for my region) to the Octopus Tariff thread here. I'll copy-and-paste the conclusion below.

So where's the break-even?

— Flexible vs 12M Fixed Low SC: Low SC is cheaper up to 3965 kWh/yr of electricity, up to 56672 kWh/yr of gas.

— 12M Fixed vs 12M Fixed Low SC: Low SC is cheaper up to 1779 kWh/yr of electricity, up to 7522 kWh/yr of gas.

So it's better than the current flexible tariff for many people, and better than the current 12M fix for lower users.

Bendo

https://forums.moneysavingexpert.com/discussion/comment/82062800#Comment_82062800

Its hardly a stich up. It was plainly obvious to pretty much everyone that unless you use next to no gas or electricity, there would be no saving.

Scot_39

https://forums.moneysavingexpert.com/discussion/comment/82062800#Comment_82062800

@tfhnota

Not sure if your getting savings on both electric and gas - or just gas in summer - but if getting something back on electric - have you considered only joining it for electricity and leave gas on SVT or standard fix ?

The low SC fix electric / standard fix for gas - exactly as this user has said he managed - albeit not on line - he had to talk to them.

https://forums.moneysavingexpert.com/discussion/comment/82062506/#Comment_82062506

Scot_39

https://forums.moneysavingexpert.com/discussion/comment/82062832#Comment_82062832

ITs a fix vs low SC fix - which seems to work out around Ofgem's pre July low use TDCV - 1800, 7500 or 2200 E7.

- or SVT vs low SC fix difference.

With the SVT based on an averaging window including much of Iran conflict - and presumably the fixes based on post MoU rates - for now anyway. So artificially flatters the low SC impact in some respects.

I kind of expect a new standard fix rate soon anyway - possibly even a low SC version to - if dont run to their limit of 33k at Octopus (25k at EOn Next etc) given a near 10% jump in UK gas prices in last two days - assuming they are tracking the developments in Washington / Iran.

There was June v8 in the Octopus thread on fixes - just before it switched to the topic of their low SC offerings -thats one every 3-4 days roughly.

But I suspect the fix vs low SC fix - will stay at the £150 (split £65 E /£85 G based on Octopus nos) - and Ill wait to see if keep to the old TDCVs (wonder if they will amend to current lower low TDCVs - that came in July 1st)

mac.d

https://forums.moneysavingexpert.com/discussion/comment/82062939#Comment_82062939

Yes and that's what makes it a stitch up - unless you are using very low amounts, there's not much saving to be made. But you're also right in that it was plainly obvious that's how it would end up working especially right now.

pete-20-11

Just noticed there is a minimum usage requirement on the Octopus low standing charge. So it's not going to be suitable for all low usage customers!