Energy Prices (Strictly NO referrals!)

Mercenary Keyboard Warrior said:
It does, iirc gas is around 20p / kwh
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100p / kWh for electricity and 30p / kWh for gas but the EPG kicks in when it goes over the standard price cap rates to give you a discount, so gas would be around 20p like you say (23.3p).

The Government’s Energy Price Guarantee (EPG) offers a 17.9p / kWh discount against your electricity unit rates, and a 6.7p / kWh discount against your gas unit rates.

Given the money for this discount comes from every UK home, it’s important we’re fair with how the EPG is applied.

The EPG discount will apply whenever Tracker unit rates go above the base EPG level (34p / kWh for electricity and 10.3p / kWh for gas; on average, but this does vary regionally).

For example, a unit rate of 80p / kWh is reduced to 62p / kWh. A gas unit rate of 20p / kWh is reduced to 13.3p / kWh.

The EPG is also applied after the maximum unit rate cap. This offers an additional saving for Tracker customers against high wholesale unit rates.

For example, an electricity unit rate of 120p / kWh is capped at 100p / kWh, then reduced to 82p / kWh. A gas unit rate of 35p / kWh is capped at 30p / kWh, then reduced to 23.3p / kWh.

However, the EPG won’t discount unit rates below the base level.

For example, an electricity rate of 38p / kWh would only be reduced to 34p / kWh (on average). A gas unit rate of 11p / kWh would only be reduced to 10.3p / kWh (on average).

However, however... if the unit rate is already below the base EPG level (34p / kWh), then you will pay the cheaper rates.

For example, an electricity unit rate of 30p / kWh means you only pay 30p / kWh.
 
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Puzzled said:
100p / kWh for electricity and 30p / kWh for gas but the EPG kicks in when it goes over the standard price cap rates to give you a discount, so gas would be around 20p like you say (23.3p).

The Government’s Energy Price Guarantee (EPG) offers a 17.9p / kWh discount against your electricity unit rates, and a 6.7p / kWh discount against your gas unit rates.

...
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yes we know ... but the question is what is the sense/fairness to tax payers purse in both subsidising the price when it is high and at other times permitting agile customers(say) cheaper energy than majority on svr/epg -

Haven't looked to see how this was managed in europe - maybe they have a sane government.
 
jpaul said:
yes we know ... but the question is what is the sense/fairness to tax payers purse in both subsidising the price when it is high and at other times permitting agile customers(say) cheaper energy than majority on svr/epg -

Haven't looked to see how this was managed in europe - maybe they have a sane government.
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Another chatgpt fail

Is 23p > 11p
 
Mercenary Keyboard Warrior said:
Another chatgpt fail

Is 23p > 11p
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lol - you get tax payer subsidy in go faster if the energy price exceeds the cap, but conversely unlike fixed svr/epg tarifs, you receive energy at off peak times more cheaply than the same energy being provided to those svr/epg customers, whose excess payment offsets that subsidy ...
it is not complex really.
 
jpaul said:
lol - you get tax payer subsidy in go faster if the energy price exceeds the cap, but conversely unlike fixed svr/epg tarifs, you receive energy at off peak times more cheaply than the same energy being provided to those svr/epg customers, whose excess payment offsets that subsidy ...
it is not complex really.
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Reboot of chatgpt required.
Please install the English version next time.
 
SDK^ said:
I already posted on this.
Centrica cannot offer/provide favourable financial rates/services to BG, which it can’t do the same for, for every other energy company. It’s against competition rules.

it’s the same for any business, in any sector, which owns conflicting services.
If allowed, ultimately it would price every one else out of the market, and then they would have a monopoly.

There are advantages of essential services not being government owned.
  • Customers get the best value for money - Regulation and shareholder value means every £1 spent and profit received has to be justified, so there is no wastage.
  • All raised capital and profits are ring fenced to that business and can be used for investment. When Government own a service - the tax, income received from it can and is used for anything.
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This kind of ‘cross-subsidisation’ business practice happens all over. Look at google using advertising profits to subsidise products in other markets to the detriment of competition.
 
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pc-guy said:
Why does OPEC meet regularly to manipulate global prices then.

Price is based on Supply and Demand. Which oil producers and companies control one end of the equation.
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We cant control OPEC, people in here are moaning about British oil companies, they really dont set the oil price. OPEC is a cartel and they have the world over a barrel, literally.
 
By jove she hasn't got it
The predicted cost of subsidising household energy bills to the Treasury has fallen by £5bn after a drop in wholesale gas prices, a leading consultancy has said.

Cornwall Insight has forecast the government’s policy to protect households from the cost of living crisis – the energy price guarantee (EPG) – will now cost £37bn
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ie that massive subsidy which will be reflected in other services public don't receive,
if you pay 34p for an overnight unit the overpayment versus actual cost eg 7.5p, pays off that subsidy
 
See gas prices see hitting new lows all the time and you guys on trackers are at my fix from October 2020. And thats what they are quoting in the news. Gas proces haven't been this low since then.
 
413x said:
See gas prices see hitting new lows all the time and you guys on trackers are at my fix from October 2020. And thats what they are quoting in the news. Gas proces haven't been this low since then.
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Mine is 5.69p today, was 5.67p over the weekend
I think we may have timed the switch right. All luck really.

Because of Go I get about half my elec at 7.5p, the other half some combo of solar or full price (40p) units.
 
Mercenary Keyboard Warrior said:
Mine is 5.69p today, was 5.67p over the weekend
I think we may have timed the switch right. All luck really.

Because of Go I get about half my elec at 7.5p, the other half some combo of solar or full price (40p) units.
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Does it change every day then?

Wonder how low it will go. I mean winter is basically over for the northern hemisphere now. We'll, for the bulk of the population anyway.
 
413x said:
Does it change every day then?

Wonder how low it will go. I mean winter is basically over for the northern hemisphere now. We'll, for the bulk of the population anyway.
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Changes most days yes.
Since 1st Feb

6.78​
6.91​
6.54​
6.98​
6.98​
6.98​
6.92​
6.54​
6.37​
6.18​
6.42​
6.42​
6.11​
6.16​
6.16​
6.34​
5.88​
5.67​
5.67​
5.69​
 
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Yeah that's great. Also great to see the price is moving down.
We got lucky I feel. It could have been much much worse.

Annoyingly tories will claim the free money they won't have to pay for the cap subsidising is a win for them.

One of those :
Times are bad = it's "global events" to blame
Times are good = was all down to us


Wonder how many fixed at high prices. Mortgages and energy.
 
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Electric price on tracker has also been pretty good, frequently into the low to mid 20's instead of the 34p/kWh the SVR has.

On Go though for solar battery so mostly using cheaper units (7.5p/kWh off peak).
 
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