Energy Prices (Strictly NO referrals!)

[Richie]

Is this allowed, is he for real?

You need to re-read my post but I suggest you also look at this post which it relates to -

https://forums.overclockers.co.uk/t...-strictly-no-referrals.18948056/post-35830457

Also read the exchange back and forward for a page or so after it...

I really don't want to be paying more back on income tax or SC, to recover the use of other people's energy.

Like they did with the failed companies? This should have been on the unit rate as well but that's not a popular opinion

Anyone with EONNext. Just come out internally that you will NOT need to change from any fixed tarrif to the SVT if your fixed rate is higher than the planned gov cap. They will automatically amend the unit prices on your fix to the gov cap figures

Good to know

 

[Minusorange]

You say that, but a lot people are reading 'Typical use Energy capped at £2500' as their bill shouldn't be more than £2.5k

e.g. one such example of hundreds just like it, which I've seen in the last 30 mins

How do you earn enough to afford 2 EV's yet lack the intelligence to know that it's not an "all you can eat or is it heat?" on your bill lol

 

[413x]

You say that, but a lot people are reading 'Typical use Energy capped at £2500' as their bill shouldn't be more than £2.5k

e.g. one such example of hundreds just like it, which I've seen in the last 30 mins

You'd think.. With having 2 Evs.. You'd understand the price cap.

Its been said so many times what it is. It boggles my mind people still don't understand

 

[413x]

Putting it up to £2500 and then offering the £400 off in monthly payments means the unit price will considerably higher than if they'd just put the cap at £2100 which is a bit annoying.

Good point

Its why I think cash credit would have been so much better

 

[darkgen]

Anyone with EONNext. Just come out internally that you will NOT need to change from any fixed tarrif to the SVT if your fixed rate is higher than the planned gov cap. They will automatically amend the unit prices on your fix to the gov cap figures

I am curious though whether that means the original fixed UC difference (assuming higher than the new capped tariff) will be charged to the government (taxpayer) as opposed at the lower UC costs on the new capped tariff. This would place the onus on to those customers to opt in to the new capped tariff to reduce the potential for companies to further feather their nests!

 

[silversurfer]

I think people need to get over the fact that £1200 yearly bills are gone for many many years, possibly never to return to that level again, no matter who's in power.

That type of cost is possible now I think for those who can put in solar or exceptional measures. I do hope we have a future where if you used all power off peak on the lowest rate of the day it'd be that kind 'cheap' figure for those who are both light users and really not able to pay more.

Anyone in Scotland ? they get a grant of upto 10k towards going solar, this is the bailout I'd like tbh as its long term.

Any fix idea is just a stop gap, only one thing matters supply vs demand and you know its true because its always been this way its literally the fundamentals forget politics saving you. Stop importing large amounts of energy, its the only solution as our currency is so weak now.

 

[Zenduri]

I am curious though whether that means the original fixed UC difference (assuming higher than the new capped tariff) will be charged to the government (taxpayer) as opposed at the lower UC costs on the new capped tariff. This would place the onus on to those customers to opt in to the new capped tariff to reduce the potential for companies to further feather their nests!

lol in english?

How its been worded is that anyone who has fixed on a rate higher than the gov capped rates will have the rates adjusted to the gov cap. The cost of buying the energy to supply each customer will be subsidied between the cost and the gov cap
so if you fixed at a higher rate it wouldnt be a case of the gov subsidising more . They would just pay the difference between the cost to supply that electric and the gov cap rate

 

[darkgen]

lol in english?

How its been worded is that anyone who has fixed on a rate higher than the gov capped rates will have the rates adjusted to the gov cap. The cost of buying the energy to supply each customer will be subsidied between the cost and the gov cap
so if you fixed at a higher rate it wouldnt be a case of the gov subsidising more . They would just pay the difference between the cost to supply that electric and the gov cap rate

My prose was not great but you got the gist. So, in effect the fixed UC rates become the capped tariff, the maximum the company can charge (with the extra subsidy by he government). Got it.

 

[OldKitMan]

Anyone in Scotland ? they get a grant of upto 10k towards going solar, this is the bailout I'd like tbh as its long term.

There aren't any grants for PV solar in Scotland but you can get an interest free loan up to £5k for panels. Other interest free loans for storage, heat pumps, etc are also available. TBH I half think they inflate the prices up here a little as well because of the interest free loan.

 

[Haggisman]

My prose was not great but you got the gist. So, in effect the fixed UC rates become the capped tariff, the maximum the company can charge (with the extra subsidy by he government). Got it.

"UC" rates?

 

[darkgen]

"UC" rates?

Unit Cost.

 

[Haggisman]

Unit Cost.

Ah, got you, thought I'd somehow missed the announcement of some special cap for people receiving Universal Credit

 

[Joxeon]

How do you earn enough to afford 2 EV's yet lack the intelligence to know that it's not an "all you can eat or is it heat?" on your bill lol

Maybe they are an MP.

 

[darael]

Good on Truss for capping the price for two years. But what happens if prices fall in the meantime? Will the cap fall inline with the falling prices?

I have a gut feeling some people are going to see this cap and think it's all you can eat buffet. They should perhaps make things a little clearer for these people and explain that it's the unit prices and standing charges that have been capped - not your bill.

 

[The1nonly1]

Good on Truss for capping the price for two years. But what happens if prices fall in the meantime? Will the cap fall inline with the falling prices?

I have a gut feeling some people are going to see this cap and think it's all you can eat buffet. They should perhaps make things a little clearer for these people and explain that it's the unit prices and standing charges that have been capped - not your bill.

I agree, should not be called a cap as it's not a cap. Plenty of people will automatically assume that it will be no more than £2,500 for the year.

 

[Haggisman]

I agree, should not be called a cap as it's not a cap. Plenty of people will automatically assume that it will be no more than £2,500 for the year.

Probably the same people who complain because their DD is too high (even though it barely covers their summer usage, never mind when it triples in winter)

 

[Siliconslave]

Surely the main people who benefit are those earning between 50K and 80K

not how tax bands work... its not all that simple, but assuming £100k you get £12,570 tax free, then from there to £50,270 your charged 20% (= 20% of £37,700), then from £50,270 up your charged 40% - so if your earning £100k you actually pay £ 27,432.00 in tax so around 27% total.

 

[The1nonly1]

Probably the same people who complain because their DD is too high (even though it barely covers their summer usage, never mind when it triples in winter)

True.

 

[Siliconslave]

Good on Truss for capping the price for two years. But what happens if prices fall in the meantime? Will the cap fall inline with the falling prices?

if its capped at x per unit and the costs drop, the suppliers may be able to drop their prices, but will most likely keep it artificially high to pay off the loan / pay off the tories / pay off the shareholders

 

[seanyc5]

Ive just moved into a flat on my own with SSE as that was the current supplier.

Obvs its only a flat and one person but they have only asked for £108 per month on Economy 7 by default

Day is 32p kwh
Night is 21p kwh

I don't yet have a smart meter or a key to the electric cupboard but I do have a plug in power meter so have worked out how much things cost (electronics/PC/Stereo etc)

I was expecting them to want way more to be honest.

A friend has a family of 4 with big 4 bed (for the UK). He is paying £350 per month DD and said they are wanting more. It can't be possible that you are using that much more electricity than me. washing machine a few more times a week a little bit more lighting and maybe an extra TV (kids are young so mostly on tablets anyway) He logged into his Shell account and used £150 last month.

About what I expected 50% at the most and that's being generous. He works full time and she part - out the house a lot.

From what I can see the energy companies are just trying their luck getting peoples money as much as possible.

I have not give a reading either so my DD is based on estimates (likely massively over no doubt).

When I log into my SSE account I get this for estimates

16 Aug 2022

Day	(e)	64447
Night	(e)	39288

The (e) is for estimate. Is that supposed to mean 64447 watts per month? If so.. 103kwh per month combined day and night rates - a quick google tells me a low consumption flat uses about 150kwh per month or 1800 per month (just electric) https://selectra.co.uk/energy/guides/consumption/average-consumption-uk

If that's correct then

Thats 64.4kwh at 32p = £20.6
Night = 39.2kwh at 21p = £8.2
Standing charge is 50p per day x30 = £15 per month

Total = £43.8

Or is that totally wrong? I have no idea what the numbers next to estimates mean haha. If it is correct.. The flat is all electric so I suspect the surplus is to account for heating in winter plus to make their books look good...


Ive probably completely missed the mark here haha, happy to be corrected though.

Thanks,
Sean