This is getting ridiculous (energy prices - Strictly NO referrals!)

[dlockers]

If I were to go with that analogy, I was busy eating bean burritos blissfully unaware of the impending ********.

 

[chrcoluk]

it's what's in the spreadsheet which muon and I linked - so no explicit standing charge, just two criteria to satisfy - & of course it varies by region

e: ie. you can reduce the standing charge and increase unit rate which would benefit low users.

The spreadsheet moun linked clearly shows a cap for kwh and a cap for nil kwh, the latter been the SC. They can go below the cap for each but not above. One of the reasons ofgem quoting average user bills is so misleading to consumers.

Octopus quoted me a massive unit rate for their 12m contract which is way above the cap, but because its not a SVR, its not subject to the cap, thats why they could do it.

 

[muon]

It depends on how the caps are enforced.

Does it use this or the underlying rates. If it is simply the amounts, then there is wiggle room.

Other Payment (I'm assuming Direct Debit as it is the cheapest)

 

[chrcoluk]

Well the statement I read on the ofgem website, states that the individual rates (unit and SC) are the cap, but they just decided to present it to the press as an annual usage bill because they believe it to be less confusing.

 

[muon]

Well the statement I read on the ofgem website, states that the unit rates are the cap, but they just decided to present it to the press as an annual usage bill because they believe it to be less confusing.

The problem is that the spreadsheet that works this out doesn't actually calculate unit costs or standing charges. It simply works out what the annual costs are assuming typical use and annual fixed costs.

 

[chrcoluk]

The problem is that the spreadsheet that works this out doesn't actually calculate unit costs or standing charges. It simply works out what the annual costs assuming typical use.

Yes those figures would be divided by 12 for monthly. The KwH on that spreadsheet I am guessing is based on average usage. On another part of ofgems website, the unit rate is presented. Martin of MSE also got hold of it.

I could be wrong of course, but I be surprised if its how jpaul said.

So for the electric divided by 12 and also by 3100 units. Based on that last spreadsheet you posted.

 

[muon]

Yes those figures would be divided by 12 for monthly. The KwH on that spreadsheet I am guessing is based on average usage. On another part of ofgems website, the unit rate is presented. Martin of MSE also got hold of it.

I could be wrong of course, but I be surprised if its how jpaul said.

It's just surprising it wouldn't be presented anywhere by Ofgem. Not even in the excel model they use to work it out which is clearly not intended for the wider public but for people actually in the industry.

 

[chrcoluk]

It's just surprising it wouldn't be presented anywhere by Ofgem. Not even in the excel model they use to work it out which is clearly not intended for the wider public but for people actually in the industry.

Hence my complaints to them, I dont know what they playing at with the presentation, I think its way too confusing what they doing.

 

[Neil79]

EDF Energy is increasing Standing Charge in April from 26p to 41.75p. Electricity day rate: 21.69 p per kWh to Day rate: 48.92p. That's almost double on day rate and standing charge! From £51 a month to £160 a month! I can't afford that, that'll kill me and I don't use GAS . Gas profits up by 44%, they've made billions in profit already!!

 

[Neil79]

QUESTION

My Tarrif runs out in April, do I look to switch in April to another provider?

Other than most here, it's not just my standing charge going up but so is my DAY charge as I'm on economy 7. 26p - 48 for Standing / 23p to 52p for Day usage!

 

[Sasahara]

Chimney Sweeps might make a come back at this rate lol. I don't even know how economical coal is these days?

They banned house coal round 2 years ago.

 

[Neil79]

I've switched to Octopus Energy for £71 a month...

I'm sorry but paying EDF Energy at £160 a month from £51 for someone living on there own in a one bedroom place, paying double on both Standing Charge and Night charge is disgusting!

 

[dcsarge]

Our combined bill is hitting £285 with the heating on (only €60-ish is for gas) and we can't cut down much further due to family health, a 52% hike is going to hammer us.

 

[Surveyor]

I've switched to Octopus Energy for £71 a month...

I'm sorry but paying EDF Energy at £160 a month from £51 for someone living on there own in a one bedroom place, paying double on both Standing Charge and Night charge is disgusting!

How much electricity do you use annually at day rate and night rate?

 

[Neil79]

Electricity day unit rate: 21.69p per kWh
Electricity night unit rate: 4.85p per kWh
Daily standing charge: 24.59p per day
Annual consumption (based on estimates) Day: 1,132 kWh
Night: 6,488 kWh

As of April with EDF

Electricity unit day rate: 48.92 pence
Electricity unit night rate: 20.46 pence

Daily standing charge
Electricity standing charge: 41.75 pence per day

=This calculation tells us your estimated annual electricity cost is £1,906.96.
Your estimated annual electricity cost?
£1,906.96

Hence switching to Octupus, I've been with EDF for 10 years!

( Most of the electric goes into the Storage heaters, they are terrible, but there's no gas available in the country )

 

[Surveyor]

I've switched to Octopus Energy for £71 a month...

Surprising.

Details

I've just done an Economy 7 quote with Octopus for my postcode and your usage, it comes out at £183.18/month.

 

[Neil79]

I've just done an Economy 7 quote with Octopus for my postcode and your usage, it comes out at £183.18/month.

Although my Annual usage is an estimate, what I noticed compared to Octopus is the standing charge is so much lower

Daily standing charge Question mark icon 24.12p /day
Unit rate (day) Question mark icon 41.2p /kWh
Unit rate (night) Question mark icon 23.96p /kWh

These rates may go much higher by April, So I put in a fixed rate NOW and signed up just incase

 

[Surveyor]

Although my Annual usage is an estimate, what I noticed compared to Octopus is the standing charge is so much lower

Daily standing charge Question mark icon 24.12p /day
Unit rate (day) Question mark icon 41.2p /kWh
Unit rate (night) Question mark icon 23.96p /kWh

These rates may go much higher by April, So I put in a fixed rate NOW and signed up just incase

The estimate is based on your actual usage so will be pretty close.

365 x 24.12p = £88.04
1132 x 41.2p = £466.38
6488 x 23.96p = £1,554.53

Total £2,108.95 or £175.75/month.

I'm struggling to see how £71/month is going to cover you based on your usage. Fixed deals will be higher that the variable rate, not less than half of it.

 

[muon]

Electricity day unit rate: 21.69p per kWh
Electricity night unit rate: 4.85p per kWh
Daily standing charge: 24.59p per day
Annual consumption (based on estimates) Day: 1,132 kWh
Night: 6,488 kWh

As of April with EDF

Electricity unit day rate: 48.92 pence
Electricity unit night rate: 20.46 pence

Daily standing charge
Electricity standing charge: 41.75 pence per day

=This calculation tells us your estimated annual electricity cost is £1,906.96.
Your estimated annual electricity cost?
£1,906.96

Hence switching to Octupus, I've been with EDF for 10 years!

( Most of the electric goes into the Storage heaters, they are terrible, but there's no gas available in the country )

Why on earth do you use so much electricity. Especially at night.

This is also a one bedroom place?

 

[Neil79]

Why on earth do you use so much electricity. Especially at night.

Storage Heaters click on at night, I also have my computer on at night... Although I'd say Storage Heaters

One bedroom Bungalow