Forum Topic

Energy Price Pap

Saying the price cap is 2500 obviously doesnt  mean much. Tell Liz.  What matters is the price per kW hour. This is what I found online, although still havent been able to find out from Octopus exactly what I will be paying. I assume it wont be lower.  The price per unit has been frozen at 34.0p/kWh for electricity and 10.3p/kWh for gas. Last year I used 18000 kW of  gas and 2500kW of electricity, which works out at about 2700.00 at those rates. It does not however mention the standing charges which at the moment are about 45p and 25p a day for me, about 250.00 pa. If they remain the same I'll be in for about 3000.00 Hope this can help you work out what you might be paying. If the standing charge remains the same, 

Stephen Gould ● 1451d24 Comments

What about the £400 discount that every household is getting, this should also help, plus I believe there are other discounts for some people.

Jayne Thorburn ● 1450d

On 18th September, Octopus Energy sent me an email with a PDF letter attached.  This detailed that their daily standing charges for both Gas and Electricity were to decrease marginally from 1st October.  Specifically:Electricity Daily Standing ChargeUntil 30/09/22 = £0.43124 / dayFrom 1/10/22 = £0.4277 / dayGas Daily Standing ChargeUntil 30/09/22 = £0.27216 / dayFrom 1/10/22 = £0.26841 / dayI am on their "Flexible Avro October 2021 v1" tariff.

Phil Kay ● 1450d

Good to know. How generous. 250.00 a year for shovin it up your pipe even if you dont use it. 25.000.000 households in UK. Thats's about 6.25 Billion isn't it? before they start charging for the energy. I heard that the high standing charge is to pay the suppliers for taking on the credits of customers who switched from the bankrupted companies (cos obviously they'd spent it) I would imagine that not that many people were 100s of pounds in credit and that wouldve been paid of by now. Another thing that is odd is that they say electricity price is high because they use gas to make electricity, and yet my supplier says theirs is 100% renewable, so should not be affected by gas price. Is electricity as well as gas sold at world market rates? If it is, then I'll stop feeling so optimistic about the amount of wind farms, and solar panel fields they say will be built, cos it wont affect my bills.

Stephen Gould ● 1450d

It won't affect your bills one bit but it will be greener, depending on the details, as ever. The impact in France would be completely different because the state is a major shareholder in EDF, so takes receipt of their profit increases as they are both a generator and supplier of electricity.

Phil Kay ● 1450d

I heard that renewable energy would also be subject to increases.

Janice Evans ● 1450d

Stephen, Is that a general price you found or for you?Anyone know what the new EDF variable unit prices, gas and electric, and standing charges are for a direct debit customer (for the London area)? I’m on a fixed rate with EDF and am trying to find out if it’s worth switching back to variable but despite being awash with information from online searches I can’t find out this basic fact.

David Turner ● 1450d

Those prices are the Gov energy price guarantee rates so should apply to all energy providers variable tariff. The Energy price cap rates still exist, and a new one will still be worked out late Nov, announced early Dec and implemented for Jan 1st  although it's highly unlikely to be less than the guarantee rates and will just be used to determine what extra charge the Gov picks up for us.

Andrew Craig ● 1449d

Surely no deal is available. Eveyone is on the same rate which is set in stone by the cap otherwise any deal is going to be more and not less which is not possible now

Julian Pavey ● 1449d

I think thats right. No one will charging any more or any less than that rate. The thing I dont understand is why they keep talking about a cap of 2500.00 for an average house instead of saying what the kW price is. I mean if there were a cap on petrol they wouldnt say there's a cap of 1000.00 pa for the average motorist. They'd  say eg 1.60 per litre. Or if it were milk they wouldnt say 300.00 pa for the average user it would be eg 60p per pint.

Stephen Gould ● 1449d

I think the capped rates vary a little from region to region. But I’m on a fixed rate with EDF which is higher than the new cap and it’s unclear if the cap will be applied to me. According to some reports it will but the EDF website suggests otherwise.

David Turner ● 1449d

Not sure about region. Wholesale price is above the cap "unclear if the cap will be applied to me" Surely your fixed rate is well below what its is now or the cap rate. Otherwise you were had ?

Julian Pavey ● 1449d

" Another thing that is odd is that they say electricity price is high because they use gas to make electricity, and yet my supplier says theirs is 100% renewable, so should not be affected by gas price. "Renewable energy isn't free. Or necessarily cheaper than other sources. It has start up costs, covering building and installation to be recovered over the projected life of the project, along with ongoing maintainence costs, and transmission costs shared with all other sources feeding into the grid. All of which will be reflected in the price. The same also applies to nuclear power which has additional costs associated with decommisioning and dealing with nuclear waste.michael adams

Michael Adams ● 1449d

The reason they're taking aboout averages in this specific instance, is because this free money is being given to you by Bountiful Liz Truss ( who everybody thought was so nasty) for your energy bills. When she decides to give us free money for our petrol and milk they'll have worked out an average by then.  michael adams

Michael Adams ● 1449d

According to the Chairman of the Conservatives, people need to just reduce their consumption and go out and get a better paid job. He claimed over£200k in expenses last year.

Stewart Jones ● 1449d

It maybe goes without saying that all this free money, along with everything else, is going to have to be all paid back, starting in two years time, by any voters foolish enough to vote into power, "Red" Keir Starmer and his Politburo of envy-driven Socialist Apparitchiks. You can almost see the "Daily Mail" headlines already. That's if there's actually any money left of course which hasn't alreadt been squirelled away offshore, by Moggy, Bozo, Kamikwasi and chums.michael adams

Michael Adams ● 1449d

MA: Could you please remind me who it was from the last Labour government who left the message "sorry there's no more left" for the incoming Tories!?

John Davies ● 1449d

It was Liam Byrne, who, as outgoing Chief Secretary to the Treasury in 2010, left a note for his successor saying, 'Dear chief secretary, I'm afraid to tell you there's no money left,'

Colin Jordan ● 1449d

"Another thing that is odd is that they say electricity price is high because they use gas to make electricity, and yet my supplier says theirs is 100% renewable, so should not be affected by gas price"I'm afraid that your electricity is not 100% renewable, despite what your supplier says.  The electricity that comes out of your socket is the same for all suppliers.  Whether it is renewable or not at any moment depends on how it is being produced at that moment - and that depends on what demand is, how the wind is blowing, whether the sun is shining etc. and is typically a mix of sources (gas, nuclear, wind etc.).  The price of a unit of electricity sold to the grid at any moment by the generators is the price of the highest cost generator at that moment - so if gas is the highest cost at that moment, then the renewable generators will also get that price.  Which is why the price of electricity is driven by the price of gas, even if it is generated by renewables.

Andrzej Kowalski ● 1448d

Separate from the electricity sold to the grid are the certificates which certify how that electricity is generated and how much carbon is produced.  These certificates are tradable, so when your supplier says that its electricity is 100% renewable, it means that it has bought sufficient renewable certificates to cover the electricity that it supplies - but that has no impact on what it actually does supply (see previous post)

Andrzej Kowalski ● 1448d

John Davies asked

" Could you please remind me who it was from the last Labour government who left the message "sorry there's no more left" for the incoming Tories!?"

That was Liam Byrne, former Chief Secretary to the Treasury.

Who was only following in a long tradition. Conservative Chancellor Reginald Maudling, more popularly known as Reggie left the following note for his successor James Callaghan in
1964

Good luck, old cock ... Sorry to leave it in such a mess."

Liam Byrne and the Labour Government at least had the excuse that they ran up the deficit, bailing out failing banks who'd lent money unwisely; thereby saving the entire financial system from collapse and people's savings with it.

Possibly you're simply too young to have remembered any of this episode, as the tories have clearly succeeded in writing it from the history books ; while EdStone Milliband was too simply gormless to object.

Neverthless, thank you for giving me the opportunity to be able to remind people of this noteworthy achievement by a Labour Government while in Office. Saving the banks from collapse.

Given your evident interest in the topic, perhaps you'd like to google a bit on Reggie Maudling; and come up with what you think he could have used as an excuse.


michael adams   

Michael Adams ● 1448d

Bit touchy there Michael. You seem to have forgotten Covid and the generous help we have given Ukraine. Does this match up with "saving the banks from collapse"?

John Davies ● 1448d

John Davies, in a clearly desperate, and wholly unsuccesful attempt to divert attention away from the hole he's dug for himself, opined thus
"Bit touchy there Michael."

If you remember,  it was *you* who first wanted to talk about outgoing notes left by outgoing Treasury Secretaries, and thus by extension Chancellors. Not *me*..

But when I mentioned the note left by the outgoing Conservative Chancellor Reggie Maudling..rememeber ?

Good luck, old cock ... Sorry to leave it in such a mess."

*You* all of a sudden decided, you wanted to change the subject. And now would much rather talk about Covid, and aid to Ukraine instead. As if they had any bearing on the topic at all.

Although quite possibly, that's going to be Kamikwasi's and Truss's next big excuse for cutting taxes. To help pay for Covid and aid to Ukraine. Which would make just about as much sense, as anything else they've come up with, thus far.

michael adams 

Michael Adams ● 1448d

calm down old boy. All I asked originally was who in the Labour party left the message,

John Davies ● 1448d

John Davies explained " All I asked originally was who in the Labour party left the message,"Google not working then ?michael adams...

Michael Adams ● 1448d