Energy Prices (Strictly NO referrals!)

Puzzled

Puzzled

Puzzled

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Goodie said:
I'm not sure if it is a question that can be answered, but is that correct across the board? When suggesting DD rates do suppliers consider only the present rates or do they take into account predicted rises within the timeframe? Including the govt contribution? Just wondering whether that would be an industry standard thing or if it differs from suppliers.
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Don't know for all the suppliers but from talking to friends their current DD bills are based on the April price rise and are yet to take into account the rise coming in October.

I'm assuming it's the same for all as the price increase hasn't been announced yet.
 

Surveyor

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Surveyor

Caporegime
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zom247 said:
I'm with EDF and my 2 yr fixed deal ends on 30 Nov where I guess I'll go onto their variable rate. Got my bill today and from next month they are putting up my DD from £70 to £130, I knew it would be going up but they're puting it up almost 2 months before my deal ends so is this right? I'm thinking of cancelling my DD when I go onto the variable rate and just paying my bill quarterly, is this something I can do? Don't worry, not going down the Do Not Pay route :)
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As a rough guide the price cap in October is predicted to be more than triple what it was when you fixed. If you post your annual usage in kWh, and what you're currently paying for standing charge and per kWh, we'll be able to give you a better idea.
 

darkgen

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I'm sure this has been stated numerous times already in this thread but the constant chimes of "Look to energy usage and reducing use ...". The sting in that tail is the doubling / tripling / quadrupling etc of standing charges which somewhat negates any effort in reduction efforts.

I'm not sure why standing charges cannot be rolled in to the unit costs thus high energy users subsidise low the energy use households.
 

MatsyLR

MatsyLR

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darkgen said:
I'm not sure why standing charges cannot be rolled in to the unit costs thus high energy users subsidise low the energy use households.
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Because the standing charge is made of multiple charges, infrastrucure, maintaining the network (wires, pipes etc) supplier of last resort debt among other things. Doesn't matter if you don't agree with it (I don't) thats what its for.

What you suggest would also give the poor the choice to use as little power as possible to attempt to ofset increases to be able to survive. Thats a big nope from the people who control everything.
 

darkgen

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MatsyLR said:
Because the standing charge is made of multiple charges, infrastrucure, maintaining the network (wires, pipes etc) supplier of last resort debt among other things. Doesn't matter if you don't agree with it (I don't) thats what its for.
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Yet it varies between suppliers, tariffs and regions. Surely the suppliers or OFGEM can conjure a formula to fairly incorporate it into the tariffs unit cost charge.

Eh maybe not. *grump*
 

200sols

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zom247 said:
I'm with EDF and my 2 yr fixed deal ends on 30 Nov where I guess I'll go onto their variable rate. Got my bill today and from next month they are putting up my DD from £70 to £130, I knew it would be going up but they're puting it up almost 2 months before my deal ends so is this right? I'm thinking of cancelling my DD when I go onto the variable rate and just paying my bill quarterly, is this something I can do? Don't worry, not going down the Do Not Pay route :)
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Totally normal really, I think you can expect that price to double again as well when the new caps come in.
 

SDK^

SDK^

SDK^

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MatsyLR said:
Because the standing charge is made of multiple charges, infrastrucure, maintaining the network (wires, pipes etc) supplier of last resort debt among other things. Doesn't matter if you don't agree with it (I don't) thats what its for.

What you suggest would also give the poor the choice to use as little power as possible to attempt to ofset increases to be able to survive. Thats a big nope from the people who control everything.
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Also, if the SC was included in the unit cost people with solar wouldn’t contribute.
 

Sasahara

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Sasahara

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V F said:
New caps? I thought that was the purpose of caps, a threshold you never go over. Not keep increasing it then it's not a cap.
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The caps are there to stop suppliers profiteering on the lazy or non-tech savvy people that stayed on the standard variable price and never switched to a competitive deal.

But due to the energy crisis the costs increased too fast, so the cap is playing catch up. Which is why there are no cheaper options as the cap is lower than the cost.

If there wasn't a cap the standard variable would be in the region of 60-85p per kWh for electric now. So the cap is delaying the increases by 6 months, now changing to every 3 months.
 

SDK^

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V F said:
New caps? I thought that was the purpose of caps, a threshold you never go over. Not keep increasing it then it's not a cap.
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The cap has to move with the wholesale cost, else suppliers would go bust.
The cap exists to ensure suppliers can’t over charge for energy.
 
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