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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
FatOaf · 26/08/2022 08:24

There is no cap on the amount you pay.

This is a vitally important point that the media - for reasons I can't work out - are deliberately obscuring.

This is from The Guardian this morning: "Households in Great Britain face a leap in energy bills from October after the regulator raised the maximum that suppliers can charge to £3,549 a year." The last part of that sentence is simply untrue.

Hugasauras · 26/08/2022 08:25

FatOaf · 26/08/2022 08:24

There is no cap on the amount you pay.

This is a vitally important point that the media - for reasons I can't work out - are deliberately obscuring.

This is from The Guardian this morning: "Households in Great Britain face a leap in energy bills from October after the regulator raised the maximum that suppliers can charge to £3,549 a year." The last part of that sentence is simply untrue.

Shock Bloody hell.

EveryFlightBeginsWithAFall · 26/08/2022 08:26

It's starting to give me anxiety , I'm on a pre payment meter and already struggle with the electric . I'm not sure what else I can do to bring usage down

Interested in this thread?

Then you might like threads about this subject:

Cost of living
LimboLass · 26/08/2022 08:27

I already pay £540, so this will increase to around £970! I'm looking into solar as most of it is electricity

Ever considered using less electricity? Just a thought.

Sporty2022 · 26/08/2022 08:27

As much as people wanted rid of Boris it was completely the wrong time. Getting rid of a PM and having a leadership contest at a time like this was unnecessary.
We now have no government intervention because no one has been there to make decisions.

Ineedtoletgo83 · 26/08/2022 08:27

It’s horrendous. I’ve literally built up no credit over the summer even though we’ve been away for 2.5 weeks of July.

ShesNotTheMessiah · 26/08/2022 08:27

This figure for October is bad enough but LOOK at the predicted number for January 23: It's £5386!!!! Shock Shock Shock

That's another 50% again on top of what's just been announced. That's £450 a month for the "average home".

shit shit shit

LakieLady · 26/08/2022 08:28

Catsinthesuitcaseagain · 26/08/2022 07:15

I wish they would talk in terms of units. What is an average household? I seem to use a lot less than some on here going by recent threads. It would be a lot less scary to some if they could be more specific! I know we'll find out with our next bill but meanwhile people are panicking. Knowing the average price of a kW of electricity or a unit of gas and the standing charges would be much more helpful at this point.

According to usave, it's 33kWh of gas and 8 of electricity per day.

Average energy usage

I make that just over 12,000 kWh for gas and just 3,000 kWh for electricity over a year.

I live alone in a well insulated 2-bedroomed house. For the 12 months to July, my gas usage was approx 75% of that, and my electricity less than half. I had a friend staying here for several weeks at a time though, so I'm hoping the gas will go down a little. I'm going to turn off the radiator in the spare bedroom, and keep the door shut!

Afterfire · 26/08/2022 08:28

LimboLass · 26/08/2022 08:27

I already pay £540, so this will increase to around £970! I'm looking into solar as most of it is electricity

Ever considered using less electricity? Just a thought.

I’m so sick of people trotting this out.

If only it was that easy….!

Most people are using as little as they can ffs.

Ineedtoletgo83 · 26/08/2022 08:29

This isn’t correct he’s still PM at his choice so he should be doing something about it…oh wait yes he is, he’s telling us to grin and bear it because of what’s going on in Ukraine.

in the meantime the Russians are burning off gas they would have been exporting to Germany.

we also produce enough gas ourselves in this country but are unable to store it all, so we export to Europe but crucially need to buy it back later.

JS87 · 26/08/2022 08:29

Swedecabbagelime · 26/08/2022 07:40

If you want to know how much you’ll be using this winter - find your bill from last winter. We get quarterly bills so I have my figures for last December- February. The bill will have how many k wh you’ve used in that time period. - calculate how many kWh this is per 30 days. Use the kWh figures at the new prices which are quoted on this thread to work out what you’ll pay this winter if your usage stays the same as last winter. (you can also knock off the £66 from the government)
you can’t just add 80% to the direct debit amount as that’s not reflecting actual usage and also it’s summer right now.

Surely you can. our direct debit is set at a figure which means we pay extra in the summer and get in debt in the winter. So it’s 220 but in the summer months we have only used 90-95.

Anewuser · 26/08/2022 08:30

No idea how we’ll manage.

I’m on minimum wage and my husband gets £69 a week carers allowance. Between us we care for our disabled adult child. We’re heavy energy users due to medical equipment just trying to keep our ‘child’ alive.

We don’t have disposable income, how will we cope?

Roselilly36 · 26/08/2022 08:31

@17CherryTreeLane we had solar panels with battery back up installed this year. We use a lot of electricity, household of 4 adults, we all wfh. The solar has made a huge difference to our electricity bill. We were easily using 20+ units a day, now just under 2. We have an app that tells us what we are generating, what the household is using, battery status etc. I agree with a pp, unless you have battery it’s pretty pointless. Our battery tops up in the day and lasts until the next day, that’s using fan oven, tv’s, fans etc. obviously we aren’t going to generate as much solar in the winter with the shorter days. But I would say, it’s worth the investment, we paid just over £10k. Make sure that the company have the right accreditations etc particularly MCS certified.

FreyaStorm · 26/08/2022 08:31

I think it’s time to take to the streets to protest.
The French wouldn’t put up with this nonsense.

Haggisfish3 · 26/08/2022 08:33

My company, ovo, seem to have removed the option of a fixed rate plan. I went to check how much it would be and I cannot find an option to change to it anywhere.

RudsyFarmer · 26/08/2022 08:33

FreyaStorm · 26/08/2022 08:31

I think it’s time to take to the streets to protest.
The French wouldn’t put up with this nonsense.

We are not the French. They like to set fire to things when angry. We tend to passive aggress instead.

ShesNotTheMessiah · 26/08/2022 08:33

This line from the BBC trying to demonstrate how "little" profit the energy suppliers are making... My heart bleeds for them and their paltry £200m a year profit.

Take British Gas: they made nearly £100m in profits supplying energy in the first half of the year. Their parent company, which also makes money from oil and gas drilling, saw profits more than 10 times that amount.

Sporty2022 · 26/08/2022 08:34

Surely the answer is the government can borrow money to pay the bull of energy.
I know it’ll need paying back but this is a national emergency.

The alternative is lots of companies and industries go under. And surely that would cost more in the long run?

IrishladyNE · 26/08/2022 08:36

I am going to cancel my direct debit and wait for the bill to arrive. If I can pay it fine if I can’t they can have the amount I can afford. I am a single mother and work full time but they cannot get blood out of a stone. I am definitely not letting my daughter be cold either.

Dibbydoos · 26/08/2022 08:37

Hi OP its disgusting isnt it? Im utterly shocked. It is mass profiteering.

Anyways, I put solar with battery storage on my house last Nov. It didn't produce loads until March but it now costs me less than £1 day for electricity (you have buy from the grid and send to the grid 🤯). But since March I have been exporting like billio at an income of 3.5p per kWh I should add 🤬.

If you want to do the same you can pay for this via a loan, but I think there's a cheaper alternative.

Did you know anyone can get an economy 7 tariff? I haven't done the full cost assessment, but basically energy used overnight is cheaper on economy 7. So - arranging an economy 7 tarriff then doing this
-installing a battery
-charging the battery overnight
-using the stored elec during the day

could reduce bills hugely if you use forms of elec heating during the day and save gas use for water heating and cooking. You obvs need to balance what you use so you only take from the storage not from the grid, but its doable.

Does that make sense?

I think Ovo or Octopus showed customers how to use elect cars as energy storage to do this. Case studies are on line.

Please do your own research. Batteries can be paid for via loans and there may be support low income families can seek - just make sure the loan payments are less than the increased costs if energy and you will be saving money.

Good luck everyone. Energy companies are criminals and Ofgem has let them become criminals!

RudsyFarmer · 26/08/2022 08:37

They’re estimating 100billion pounds for the government to bail us out of this situation. You want our kids to foot the bill for this when we could all massively cut down on the energy we use?

JustTheOneSwan · 26/08/2022 08:37

Sporty2022 · 26/08/2022 08:34

Surely the answer is the government can borrow money to pay the bull of energy.
I know it’ll need paying back but this is a national emergency.

The alternative is lots of companies and industries go under. And surely that would cost more in the long run?

And we still pay by tax.
I'd go further if we are to borrow then borrow to nationalise and be done with the profiteering buggers.

AntlerRose · 26/08/2022 08:37

Haggisfish3 · 26/08/2022 08:33

My company, ovo, seem to have removed the option of a fixed rate plan. I went to check how much it would be and I cannot find an option to change to it anywhere.

It seemed to dissapear a little while ago but I dont know if you phone them what happens.

Alexandra2001 · 26/08/2022 08:37

Govt will need to freeze bills at the current energy cap (£1900) for household incomes below, for example 40k

If they don't, the suppliers will go out of business as people simply do not have any more money to pay... fitting a pre payment meter wont help the supplier if the consumer doesn't buy any energy.

When the suppliers go bust, the Government has to step in OR face mass unrest.

Then there is the situation with business energy charges, 10s of '000s of SMEs going bust?

If we had any sense, we'd nationalise the production of gas oil renewable energy, would cost 10s of billions but the way we are heading, the costs will be societal and be in the 100s of billions.

But at least we aren't being shelled hey Boris!!!

Goggin · 26/08/2022 08:38

It's very worrying indeed. We've already started taking measures such as shorter showers, I'm not washing my hair every day, using halogen oven rather than main oven.

It's made me realise how lazy our use of energy has become compared to when I was growing up when we wore jumpers and thick socks around the house and my dad had a fit if anyone left the immersion heater on. A world away from Mumsnetters who wash towels after every use and shower twice a day.