Energy Prices (Strictly NO referrals!)

[Chuk_Chuk]

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.

FYI see below for what I was trying to say but failed to convey.

Poor choice of wording on my part. What I was trying to say is that those people are the main target for the change in tax bracket (in terms of the intent to offer help) and it just so happens that high earners benefit from it as well.

 

[The1nonly1]

I missed the announcement earlier but have seen the new "cap" amount. Have they said when the unit rates will be announced?

 

[Siliconslave]

its likely an estimated reading, you should have got a reading from the meter when you moved in from the agents (and check it yourself)

 

[Siliconslave]

FYI see below for what I was trying to say but failed to convey.

sorry missed the clarification, it still helps anyone thats over the band by the same amount tbh, but proportionally its better for those right at the top i guess.

 

[Sinbad2000]

sorry missed the clarification, it still helps anyone thats over the band by the same amount tbh, but proportionally its better for those right at the top i guess.

so if I read all this right, for someone on 80k, their tax burden changes from approximately 25% to under 20%?

That is pretty significant! Like, £4k+ a year extra in your pocket?

 

[throwaway4372]

I missed the announcement earlier but have seen the new "cap" amount. Have they said when the unit rates will be announced?

nope

 

[OldKitMan]

going to guess at about 35p Elec and 9.2p Gas (inc vat), you'll then get £400 deducted from your bill in the first year. That's the easiest way to describe it I think.

 

[Siliconslave]

While it should be pretty straight forward to work out it seems Ofgem do some weird hokum to work out the actual rate and standing charge limits so will take them a little while to publish what its going to be.

 

[Haggisman]

going to guess at about 35p Elec and 9.2p Gas (inc vat), you'll then get £400 deducted from your bill in the first year. That's the easiest way to describe it I think.

I think electric is going to be closer to 38.3p. Depends what they do with the standing charge though

 

[Azza]

I missed the announcement earlier but have seen the new "cap" amount. Have they said when the unit rates will be announced?

Nope still probably trying to work out the whole thing.

 

[alec]

going to guess at about 35p Elec and 9.2p Gas (inc vat), you'll then get £400 deducted from your bill in the first year. That's the easiest way to describe it I think.

So my fixed rates (signed February) are basically the same at 35 and 10. All I got for being smart about my energy is higher rates in spring and summer.
Turns out martin Lewis was right all along with recommendation to stay on variable rates

Energy companies are going to have a field day milking the government budget.
Now that big european countries are capping the rates, demand is not going to go down when price goes up. Guess what happens then? Prices will grow sky high

 

[chroniclard]

Gov should also run a campaign to reduce usage.

 

[Devilman]

Gov should also run a campaign to reduce usage.

Reckon if they all went home on time instead of staying late for some "Wine Time Friday's" it could save us a few quid getting the lights off early.. Every little helps eh?

 

[Minusorange]

Maybe they are an MP.

Nah they'd be putting the EV and power use on their expenses lol

 

[Puzzled]

Gov should also run a campaign to reduce usage.

Should do but energy bills are still going to be damn expensive even with this price cap so people should still naturally cut back.

BBC puts a detached house at about £3300, so high users could be £3500+

 

[SPG]

Should do but energy bills are still going to be damn expensive even with this price cap so people should still naturally cut back.

BBC puts a detached house at about £3300, so high users could be £3500+

It's got naff all to do with usage plenty of energy to go around. It's the bloody markets.

 

[413x]

So my fixed rates (signed February) are basically the same at 35 and 10. All I got for being smart about my energy is higher rates in spring and summer.
Turns out martin Lewis was right all along with recommendation to stay on variable rates

Energy companies are going to have a field day milking the government budget.
Now that big european countries are capping the rates, demand is not going to go down when price goes up. Guess what happens then? Prices will grow sky high

He was wrong, then right. So lucky dip really.
He was wrong to say it last year, but right the last 6 months ish

My fix is still very good

 

[chroniclard]

Should do but energy bills are still going to be damn expensive even with this price cap so people should still naturally cut back.

BBC puts a detached house at about £3300, so high users could be £3500+

Yes, ours will be, not far off already. Am doing little things so far to drop usage but wife and kids are so blasé its annoying.

 

[Freefaller]

He was wrong, then right. So lucky dip really.
He was wrong to say it last year, but right the last 6 months ish

My fix is still very good

If it's under the cap then yes it's good - but it still comes down to usage and we should all try and use less and save energy. I still have no regrets for pulling the trigger on solar and batteries.

 

[Megahurtz400]

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

Order yourself an FB2 key today from ebay/amazon and get a reading to make sure you're not paying for the previous tenants high usage.

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