Active discussions

Meet the Other Phone. Only the apps you allow.

Meet the Other Phone.
Only the apps you allow.

Buy now

Please or to access all these features

Talk
Chat

Join the discussion and chat with other Mumsnetters about everyday life, relationships and parenting.

Original poster

Price Cap - Just announced

994 replies

swifttwist · 26/08/2022 07:03

From £1971 to £3549. 80% rise. I have no words.

New figures:

Electricity
£0.52 per kWh
Daily standing charge: £0.46

Gas:
£0.15 per kWh
Daily standing charge: £0.28

OP posts:
Thread gallery
13
Marinamountainzoo · 26/08/2022 09:59

Givenitarest · 26/08/2022 07:30

catsinthesuitcase I completely agree. I'm not thick but I'm finding this 'price cap' figure meaningless to me beyond knowing the obvious that it's a bigger number than it was before? As a price cap does it mean that if you use much larger amounts of electricity a year ie. Live in a mansion it might actually work out cheaper for you because they can't charge you anymore than £3500 a year?

If they just broke it down to the KWH charge and the standing charge I would stand a fighting chance of working out how much my bill was last year Vs what it's going to be, as a minimum, for the same usage this year. Although having said that, my British Gas App is totally shit at giving me an exact year to compare. Some of my PDF bills aren't downloadable or are missing so I'm trying to extrapolate an annual use from 9 months of info. Does anyone else find it difficult to easily find their annual usage?! It's like they're making it deliberately difficult.

I find that my bills online aren't great. I'm on Ovo. But if I look on my actual smart meter, I can get all of the figures easily. My annual usage is on there.

Hydrangeatea · 26/08/2022 10:00

Can anyone tell me if there is some sort of calculator to work out how much this will cost me? My supplier estimates I use 7536.0 units of Electricity and 31250 Gas per annum.

Thank you

FarmerRefuted · 26/08/2022 10:00

DC school had energy bills of c.£120,000 (three schools across three sites) and are now looking at upwards of £600,000

Interested in this thread?

Then you might like threads about this subject:

Cost of living
placemats · 26/08/2022 10:00

On top of this expect the council tax to rise by quite a lot because of the energy rises.

Plus even if you cut down drastically, the standing charges are rising. How else are the energy companies going to continue to make extortionate profits?

ILookAtTheFloor · 26/08/2022 10:02

FarmerRefuted · 26/08/2022 10:00

DC school had energy bills of c.£120,000 (three schools across three sites) and are now looking at upwards of £600,000

It's a domestic price cap. Schools will have to fix on incredibly high contracts.

TooMuchToDoTooLittleInclination · 26/08/2022 10:03

itsgettingweird · 26/08/2022 08:21

Well reminded.

Have you any idea what the typical usage actually is?

I think I'm quite below that but I'm even worried about bills of £200 a month and I was £85 until April.

Show quote history

@itsgettingweird

Dont concern yourself with what is/isn't average because it won't affect YOUR bills in the slightest.

have a look to see how many units you used in winter last year multiply that by the new pKw rate & add on the daily standard charge.

then think about how YOU can cut down your energy usage.

you're only charged for what you use - plus the daily supply charge.

it makes NO difference what anyone else is doing/getting charged.

Vecnasnurse · 26/08/2022 10:03

brob · 26/08/2022 09:12

or more will turn to multi generational living

Can you imagine the threads! 😱

Eastangular2000 · 26/08/2022 10:03

Hydrangeatea · 26/08/2022 10:00

Can anyone tell me if there is some sort of calculator to work out how much this will cost me? My supplier estimates I use 7536.0 units of Electricity and 31250 Gas per annum.

Thank you

The calculator on your phone will work.

Drywhitefruitycidergin · 26/08/2022 10:03

Just checked mine against my actual usage for last 12 months with new rates & looks like my bill will be in the region of £300 average per month up from £167 😱😱 or £240 per month with £60 support

Phrenologistsfinger · 26/08/2022 10:04

@Cheeriyo I have heard that the aid being promised to Ukraine is actually old weapons & equipment that they were planning on decommissioning anyway - handing it over as ‘aid’ would actually be saving money. So not the magnanimous act it might appear…

bananatuna · 26/08/2022 10:04

Hydrangeatea · 26/08/2022 10:00

Can anyone tell me if there is some sort of calculator to work out how much this will cost me? My supplier estimates I use 7536.0 units of Electricity and 31250 Gas per annum.

Thank you

www.moneysavingexpert.com/utilities/what-are-the-price-cap-unit-rates-/#tool

FarmerRefuted · 26/08/2022 10:04

ILookAtTheFloor · 26/08/2022 10:02

It's a domestic price cap. Schools will have to fix on incredibly high contracts.

Show quote history

That's their increased contract

JOFFCV · 26/08/2022 10:05

Sporty2022 · 26/08/2022 09:46

Well yes but doesn’t really help anyone though. Just means they won’t disconnect you. The bills will still need to be paid if you want any kind of credit rating.

Show quote history

I don't fall into that category, I was just thinking about other people.

carefullycourageous · 26/08/2022 10:05

don't let them gaslight you with incremental changes. Check your winter bills from last year - you were probably paying 3-4p/kwh. Its quadrupled from the last winter. Its only doubled since 3 months ago and will go up again in January (still middle of winter)

This is all hard to work out - in my work I do complex costings and still find it complicated due to constant moving targets. It is not being presented in a way some people can understand - if I was a person with only basic maths this would be a bit much to calculate.

It is really great this hideous Tory government have also cut all support for people such as Citizen's Advice, Surestart, council advice centres Angry Angry Angry

FarmerRefuted · 26/08/2022 10:06

DB has messaged me also to say that his employer is already discussing redundancies as their contract is going up to £700,000

CurtainSchmurtain · 26/08/2022 10:06

@TooMuchToDoTooLittleInclination
I wonder why you think they won’t do this? The uk currently allows people a massive amount of leniency with debt compared to lord of EU countries. Our court system is struggling massively post COVID/ and with strike action. They’ll have to introduce new methods of debt enforcement, it’s unavoidable.

EastVillage77 · 26/08/2022 10:06

Eastangular2000 · 26/08/2022 10:03

The calculator on your phone will work.

Show quote history

Arent you a delight.

TooMuchToDoTooLittleInclination · 26/08/2022 10:07

ArcheryAnnie · 26/08/2022 08:23

I'm utterly screwed because I'm in a big block of flats where our heating is supplied communally. It won't make any difference if I shut my radiators off because I will still be liable for a proportion of the (massive) communal bill regardless.

@ArcheryAnnie

how is the heat generated? If it's oil, it won't be be affected by this (though the price of oil has gone up since last year)

JOFFCV · 26/08/2022 10:07

What happens if you know for a fact your usage will be quite a lot less than last year? Will you be able to lower your DD when they up it?

Alexandra2001 · 26/08/2022 10:08

Arenanewbie · 26/08/2022 09:52

@Alexandra2001 this private companies sell natural resources which don’t belong to them.

They extract under licence, which Parliament has agreed they should do & gives them hefty tax breaks too, esp on decommissioning #bestofbothworlds

We voted for this, time and time again.

If France can nationalise Nuclear power production, we could do the same for our resources.

Eastangular2000 · 26/08/2022 10:10

JOFFCV · 26/08/2022 10:07

What happens if you know for a fact your usage will be quite a lot less than last year? Will you be able to lower your DD when they up it?

Of course. you can set your DD at whatever level you want , 10, 100 or 1000 a month for example. However if you start running up a big deficit the energy company will either ask you to increase your DD or pay off your balance.

Damnloginpopup · 26/08/2022 10:11

MrKlaw · 26/08/2022 09:57

don't let them gaslight you with incremental changes. Check your winter bills from last year - you were probably paying 3-4p/kwh. Its quadrupled from the last winter. Its only doubled since 3 months ago and will go up again in January (still middle of winter)

recommend everyone to go get their bills from last year and use the kwh (or m3 and convert) used to estimate what your personal estimates might be for this year (and bear in mind from January they'll be higher and April higher still). The £3500 headline figure is misleading at best and dangerous at worst

Show quote history

Oh absolutely. I was paying £40 DD a month and was in credit. Fix ran out, went up to £60 and then a couple of months later the shit hit the fan and my supplier went bust and British gas took over. So looking at a fourfold increase overall. Until January when it goes up again...

Flopisfatteningbingforchristmas · 26/08/2022 10:11

Cheerfulcharlie · 26/08/2022 07:40

Is this likely to be a fairly temporary spike in prices ? Will next winter be lower prices?

No. Prices will go up again in January.

RudsyFarmer · 26/08/2022 10:12

The figures over heard so far is rising costs for at least two years.

Liebig · 26/08/2022 10:13

Alexandra2001 · 26/08/2022 09:42

I'm sure you would agree that these amounts are a: not enough and b; will need to be on going, possibly for many years, costing us 100s of billions.

I keep coming back to part nationalise UK energy production... it is the only way out of this and its what we would do if we were at war.

..and to all intents and purposes, economically, thats what we now are with Russia.

Show quote history

How does nationalising get around the costs?

The French have a decrepit nuclear fleet that the taxpayer is now going to have to pay for. Their one year forward contract prices are near €900 MWh and rising. They have their cap expiring at the end of the year, after which they’ll be spending around 8% of their GDP on energy alone. That simply cannot be done. Germany is the same.

A gov’t cannot just take on the debts and underwrite the costs without consequence. That will debauch the currency, and the sterling and euro are already near or at parity with the dollar and dropping fast.