Energy Prices (Strictly NO referrals!)

bigmike20vt said:
ahh ok that makes a little more sense. 61p tho still .. :(
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61.67p to be exact. Gas is 29.11p

That's the SVR. I fixed on a Loyalty Tariff which is slightly better on SC:

Elec - 29.36p/kWh, SC:55.64p
Gas - 7.34p/kWh, SC:23.08p

Fixed until Aug 2024

I use circa 1200kWh Elec and 4200kWh Gas per year.
 
Nathan said:
Octopus intelligent is still brilliant for us 7.5p kw overnight is cheap cheap cheap.
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Yeah and cunningly leave your car plugged in and turn on the climate control when you want to turn on a high draw consumer in the house.... *whistle innocently*
 
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Aberfala said:
Mine's going back up next month, I was in credit so they have only put it up once the credit on my account is almost gone.
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I’m about £150 in debit. For 3 months I paid just the £37, not the £105. I should be in the black early autumn. Helps by having a week away in Sept/Oct
 
I was away for over a month and it still cost me about double what I was paying pre-Ukraine :/

Energy companies are taking the **** TBH. Especially looking at their profits.
 
Richie said:
I assume this is the average SC as some parts of the country get ripped off more than others with it.
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I have quit posting on MSE, as the SC on there has got really political, I think most of the regulars there are affiliated with Ofgem or the suppliers.

I looked at the energy costs facebook group, their help is a lot more organised than MSE, and without all the political nonsense. Although they have started promoting partnership affiliations with various companies to make money out of it and are planning to make their MSE type website so the vibe of it will probably change.

Essentially whats happened is Ofgem has moved some of the costs from unit rate to SC (costs which increase when the country uses more energy so are linked to utilisation), this is very likely a political decision. In addition as we already know some new costs were also added to SC, loss recovery for suppliers and some other stuff, Ofgem itself noted this has contributed to better financial statements from the suppliers for the most recent quarters. Reading between the lines one could argue Ofgem priority became improving the margins for the suppliers (as its remit is to keep them around) and they had decided assured revenue via SC rather than unit rates (which go down as people are becoming more and more conservative with energy use) was the way to go.

There is no political will to change this, so its here for the forseeable now sadly. Martin challenged the secretary of state on it directly and there was no empathy at all, not even an attempt to say they looking into it.
 
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It might be the standing charge was altered because so many companies went bust, they removed some of the flexibility. Now theres expensive coverage so no matter what the cost energy is covered. Its possible they are forcing them to buy options on energy into future quarters, not risk the spikes. Like insurance or similar, an option to buy at a price will cost them in premiums

It will be a decade or more to undo previous mistakes, 6 big nuclear power stations are closing in this decade right so we're losing supply if anything in this near term. Huge inertia on these national energy questions, I dont trust any of them to plan it right

Make your own plans, like this genius :P
 
silversurfer said:
It might be the standing charge was altered because so many companies went bust, they removed some of the flexibility. Now theres expensive coverage so no matter what the cost energy is covered.
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Or, the energy companies realise that people are cutting their usage to save money or by fitting renewables and so they need to find a way to ensure their profits are protected so load more onto the unavoidable and guaranteed SC.

There is no way that supply and other fixed costs have increased by over 500% in 2 years.
 
silversurfer said:
It might be the standing charge was altered because so many companies went bust, they removed some of the flexibility. Now theres expensive coverage so no matter what the cost energy is covered. Its possible they are forcing them to buy options on energy into future quarters, not risk the spikes. Like insurance or similar, an option to buy at a price will cost them in premiums

It will be a decade or more to undo previous mistakes, 6 big nuclear power stations are closing in this decade right so we're losing supply if anything in this near term. Huge inertia on these national energy questions, I dont trust any of them to plan it right

Make your own plans, like this genius :p
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Finally a fix for the range and slow recharge issue :D
 
Here is the link to to the October 2023 Regional Price Cap


To work out your daily standing charge and unit rate do the following:


Other Payment Method is Direct Debit.
Find the your payment method table, and locate the correct area.

For the daily standing charge cost, divide the Nil KWh by 365, then multiply the answer by 1.05, this added the 5% tax.

eg: Gas, South East, £102.96 / 365 = £0.2821 x 1.05 = £0.2962 or 29.62p (answers rounded up to hundredth of a penny)


For the unit cost, take the Nil KWh figure from the "non-Nil" figure eg Gas "m(12,000) kWh)", then divide the answer by the unit number of the non-nil figure,
then multiply the answer by 1.05, this added the 5% tax.

eg: Gas, South East, £894.24 - £102.96 = £791.28 / 12,000 = £0.06594 x 1.05 = £0.069237 or 6.9237p

Hope that makes sense.
 
Ofgem can change SC algorithm if they wish the ex-director resigned because she was p**** off with the backwardation fees re-claiming money from consumer faster, she was outvoted - they just have fat-cat inertia.
The green levy is still the killer shot, £170/pa in the SC, which is in the gift of the government, someone has to subsidise insulation and heat pumps, though.

Variation of SC around the country is probably the more legitimate/honest component of the SC, cost of living in energy remote areas of the country is higher

Dear Martin, butter wouldn't melt, contributed to this mess with his make hay while the sun shine strategy - moving energy accounts , bank accounts, credit transfers, all of that churn costs the consumer&economy money - he's a joke.
Meanwhile heard Greg Jackson on r4@1 60K "customers a week joining Octopus ... and 100'sK on innovative tarifs like Tracker & Agile;" BBC giving him an advertising podium
how many consumers are on Tracker Greg ? a queue limited 70K from 5+ Million Octopus customers - that's a clever 'hook' advertising technique.
 
Richie said:
Or, the energy companies realise that people are cutting their usage to save money or by fitting renewables and so they need to find a way to ensure their profits are protected so load more onto the unavoidable and guaranteed SC.

There is no way that supply and other fixed costs have increased by over 500% in 2 years.
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The increases are mostly in transmission and supplier side.

Although there is upcoming increases to pay for national grid expansion as it seems it hasnt been expanding its capacity to keep up with the renewables coming online. All these are largely utilisation related costs (not related to fixed connection to house).

SC is already confirmed to next go up in spring 2024 I think and not a small amount.
 
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chrcoluk said:
The increases are mostly in transmission and supplier side.

Although there is upcoming increases to pay for national grid expansion as it seems it hasnt been expanding its capacity to keep up with the renewables coming online. All these are largely utilisation related costs (not related to fixed connection to house).

SC is already confirmed to next go up in spring 2024 I think and not a small amount.
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I'm not disagreeing with an increase, but over 500% increase in 2 years? Do you suggest this is reasonable?
 
Sasahara said:
Here is the link to to the October 2023 Regional Price Cap

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I'm using this page for my prices, as it seems easier to understand than the one you've linked to, with far less faff to calculate the prices.

Variable rate​

Charge Restriction RegionElectricity: Single-Rate Metering Arrangement p/kwh ex VATGas p/kwh ex VAT
North West25.926.57
Northern25.316.49
Yorkshire25.266.50
Northern Scotland25.966.52
Southern26.206.66
Southern Scotland25.606.52
N Wales and Mersey26.916.60
London27.076.57
South East26.766.59
Eastern26.606.46
East Midlands25.496.44
Midlands25.576.49
Southern Western25.896.76
South Wales26.146.71
GB Average26.056.56

Standing charge​

Charge Restriction RegionElectricity: Single-Rate Metering Arrangement p/day ex VATGas p/day ex VAT
North West49.328.2
Northern54.728.2
Yorkshire53.428.2
Northern Scotland56.628.2
Southern47.628.2
Southern Scotland59.128.2
N Wales and Mersey59.328.2
London36.728.2
South East45.328.2
Eastern41.928.2
East Midlands48.328.2
Midlands51.828.2
Southern Western55.928.2
South Wales51.628.2
GB Average50.828.2

Variable rate​

Charge Restriction RegionElectricity: Single-Rate Metering Arrangement p/kwh ex VATGas p/kwh ex VAT
North West25.506.34
Northern24.906.29
Yorkshire24.856.30
Northern Scotland25.556.31
Southern25.786.44
Southern Scotland25.196.31
N Wales and Mersey26.496.36
London26.656.35
South East26.346.37
Eastern26.186.28
East Midlands25.076.23
Midlands25.166.26
Southern Western25.486.60
South Wales25.736.47
GB Average25.636.35

Standing charge​

Charge Restriction RegionElectricity: Single-Rate Metering Arrangement p/day ex VATGas p/day ex VAT
North West51.432.6
Northern56.832.6
Yorkshire55.432.6
Northern Scotland58.632.6
Southern49.732.6
Southern Scotland61.232.6
N Wales and Mersey61.332.6
London38.832.6
South East47.432.6
Eastern44.032.6
East Midlands50.432.6
Midlands53.832.6
Southern Western57.932.6
South Wales53.732.6
GB Average52.8730232.57598
 
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