Energy Prices (Strictly NO referrals!)

Puzzled said:
5.95p/kWh today on Octopus gas tracker, getting close to half price.

Be interesting to see what happens to the price cap later in the year as wholesale prices seem to be dropping.
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currently its at 2.5k.....April its rising to 3k, then in June/July it supposed to drop to 2.2k. But lets see what happens.
Martin Lewis has written to the gov to scrap the april rise, as its no longer needed and will push more people into fuel poverty
 
Welshman said:
currently its at 2.5k.....April its rising to 3k, then in June/July it supposed to drop to 2.2k. But lets see what happens.
Martin Lewis has written to the gov to scrap the april rise, as its no longer needed and will push more people into fuel poverty
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Cap is meant to be the max. Not the actual price.
 
Welshman said:
cap is the average cost...not the max cost
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It literally is the maximum and supplier can charge. The lack of competition and the fact the costs were higher than the cap meant that all suppliers charged the cap !

The ‘average cost’ is the average consumption versus the unit cost.

This cap has been in place years ( didn’t labour bring it in ?)to protect people who never changed suppliers and just sat on the going rate. It’s nothing new in recent times
 
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Puzzled said:
5.95p/kWh today on Octopus gas tracker, getting close to half price.

Be interesting to see what happens to the price cap later in the year as wholesale prices seem to be dropping.
Click to expand...

Yeah, best thing I have done in ages money saving wise. Currently at 6p gas and 22.5p electricity. Thats 40% off gas and about 30% off electricity. Including the £50 referral I am probably going to see my energy bill nearly halved this month.
 
Simon said:
It literally is the maximum and supplier can charge. The lack of competition and the fact the costs were higher than the cap meant that all suppliers charged the cap !

The ‘average cost’ is the average consumption versus the unit cost.

This cap has been in place years ( didn’t labour bring it in ?)to protect people who never changed suppliers and just sat on the going rate. It’s nothing new in recent times
Click to expand...
i didnt state unit cost, i stated average bill cost.......yes the unit cost is the max, barring regional changes

Based on the cap the average bill rise as gone from £1225 to £2500....will rise to £3k and then back down to £2.2k

Unit cost will be around 33p ( current) 45p ( april) and then around 26p in June/July......
 
Welshman said:
cap is the average cost...not the max cost
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The Cap is the max cost that can be charged per unit

It's calculated using the average wholesale price from previous months


Welshman said:
i didnt state unit cost, i stated average bill cost.......yes the unit cost is the max, barring regional changes
Click to expand...
The Cap impact cost to customers, is often quoted using average use data
 
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Welshman said:
i didnt state unit cost, i stated average bill cost.......yes the unit cost is the max, barring regional changes

Based on the cap the average bill rise as gone from £1225 to £2500....will rise to £3k and then back down to £2.2k

Unit cost will be around 33p ( current) 45p ( april) and then around 26p in June/July......
Click to expand...
Average bill is just average consumption. So that’s fixed and the unit cost is what drives it.

Learn how to use an ellipsis properly too.
 
They are very frustrating to read and if I understand them as you have used they infer something, that is you not bothering finishing your sentences
 
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AthlonXP1800 said:
www.bbc.co.uk

EDF's UK profits soar after electricity price hikes

But the French energy firm made huge losses as a whole due to problems with its nuclear reactors.
www.bbc.co.uk

EDF UK profit soared to £1.12bn in 2022.

EDF UK has 5.22 million customers, that worked out £214 per customer.
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Sure :cry:


Also....

EDF' UK consumer energy supplier lost more than £200m in the year.
EDF blamed the cost of buying energy for residential customers which was higher than the prices set under the energy price cap.
Click to expand...
 
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