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Original poster

Gas up from 10 p to 13 per kWh, Electricity up from 32p to 51p a kWh from April

38 replies

cakeorwine · 27/02/2023 22:55

This is the new price cap

www.ofgem.gov.uk/publications/ofgem-announces-latest-quarterly-price-cap-update

So - the Government has set a limit on the cost of energy and has supported people with £400.

That limit has gone - and the price cap is back.

However, the good (?) news is that these levels will be falling towards July and October as the price cap is predicted to fall lower. People will also be using less energy on heating over the next couple of months.

The bad news is a 30% increase in the cost of gas and a 67% increase in the cost of electricity - and no £400 subsidy.

This comes in from April, I would check you know what energy your devices use - especially if you are a high electricity consumer.

But as I said, hopefully the prices are going to fall more by October so things will be back to current levels?

(oh - and the daily standing charge is increasing as well)

OP posts:
Rebel2 · 27/02/2023 23:26

I can't cut mine any more Sad

As an example I went for a nap Grin during a turn down and save event so everything off except the fridge and router. Saved 451wh and that got me £1

It's ridiculous because the people who can afford it will carry on with massive usage and just pay it, whereas the people who can't have cut everything already and are being cautious but still have the standing charge
It's all well saying about energy saving but for a lot of us, there's nothing left to save!!

Spent 30 years of my life outside riding horses, this year I don't have any and I have fucking chilblains Hmm which says it all

flapjackfairy · 27/02/2023 23:59

it is beyond a joke . We have 2 disabled children that need tons of medical.equipment and a warm house to stay well. And that's not including the washing which is ridiculous in itself. We are already paying about 500.a month and dec as it was so.cold came in at 700. It is just crazy and we cant cut back.anymore than we already are. So.basically we will be stung again over summer and next winter things will drop back to the unaffordable rates we have now? No.doubt they will expect us to be grateful.
And all.while the energy suppliers line their pockets and make record profits. We are mad in this country to put up.with it all. The gov have no idea of normal life and couldnt care less it seems.
I would lead the revolution myself if I wasnt so bloody knackered !

Original poster
cakeorwine · 28/02/2023 04:54

That's got to be so hard @flapjackfairy

Yes - prices are going up and then coming down to "current prices" by December - maybe. But no extra £400 support.

OP posts:

Interested in this thread?

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Cost of living
Shesasuperfreak · 28/02/2023 05:38

Its too much wtf

Delectable · 28/02/2023 05:42

We have a nice jolly coronation to look up to. Hope we've saved up 😊

Flavabobble · 28/02/2023 05:59

I wonder if the energy companies will still be making their record profits😡

ArcticSkewer · 28/02/2023 06:12

Totally rigged prices that bear no resemblance to how much it actually costs to produce our electricity and gas ..... a lot of our energy comes from renewables and is many times cheaper but we aren't allowed to pay cost price for that.

BlackbeardsToast · 28/02/2023 06:15

There is no £400 but there is still a limit, albeit higher than before.

Prices for people will go up 20% in April, regardless of the cap. The government limit is set £3000 for the average home (up from £2500 now). The cap from Ofgem not relevant to most people because of that.

BlackbeardsToast · 28/02/2023 06:16

See...

"The £3,280 figure indicates how much consumers on their energy suppliers' basic tariff would pay if the government’s Energy Price Guarantee (EPG) were not in place.

From 1 April, the government has set the EPG at £3,000 for the typical bill – meaning that consumers will not pay the full level of the energy price cap."

RumandSpinach · 28/02/2023 06:18

The government need to set a limit on what excess profit these bastarding companies can make from misery.

But they won't, because they don't give a shit about people.

kwiss · 28/02/2023 06:22

BlackbeardsToast · 28/02/2023 06:16

See...

"The £3,280 figure indicates how much consumers on their energy suppliers' basic tariff would pay if the government’s Energy Price Guarantee (EPG) were not in place.

From 1 April, the government has set the EPG at £3,000 for the typical bill – meaning that consumers will not pay the full level of the energy price cap."

Yes, this is correct, these are the figures you need to be concerned about OP.

BlackbeardsToast · 28/02/2023 06:23

As an illustration for those worrying. I worked out what that would do to my bill and what the price drop in July would do. The net impact on my direct debit is nil. I'll keep paying the same as now, build up my summer surplus a lot slower apt-jun then catch up much quicker jul onwards.

Your own impacts may be different, depending on your current potion and usage during that time.

soleilblue · 28/02/2023 06:34

FFS

I'm going to have to live in the dark

CatOnTheChair · 28/02/2023 06:49

This is scaremongering.
Yes, those may be the marketprices, but the government energy 0ricecap has yet to be applied. The actual change to the bill should be significantly less - more like a 20% increase rather than the numbers quoted.

ArcticSkewer · 28/02/2023 07:02

CatOnTheChair · 28/02/2023 06:49

This is scaremongering.
Yes, those may be the marketprices, but the government energy 0ricecap has yet to be applied. The actual change to the bill should be significantly less - more like a 20% increase rather than the numbers quoted.

Which we all, as taxpayers, subsidise - while energy companies make record profits.

Airupnonsense · 28/02/2023 07:05

Hmm so during the summer when we won’t be having the heating on the gas price is increasing a bit but the electricity price is going up massively 🤔

CatOnTheChair · 28/02/2023 07:07

Fine Arctic - but the comparison needs to be like for like - either both prices with the EPC applied, or neither. Putting one of each is not a fair comparison.

MrsDoyle351 · 28/02/2023 07:10

The actual change to the bill should be significantly less - more like a 20% increase rather than the numbers quoted

Oh - well that's all right then! SARCASM ALERT

For fucking fuck's sake - it has to be a Fucking Joke.

Our council tax is going up 5%, our water rates have also gone up, food bill for 5 has gone up at least £20 a week. etc etc.

No - it's not scaremongering - it's saying what it is FFS

MamOfFive · 28/02/2023 07:17

It's a scam, wholesale price has dropped to prices before the war! So it doesn't need to go up.
Martin Lewis is campaigning right now for the 20 percent increase to be dropped and he may - just may do it.

poochiemaloochie · 28/02/2023 07:19

And i read yesterday that the government are pledging £10 million to make the Eurovision more special! What about the priority of keeping people warm in their homes, it makes me feel sick.

BoredBetsy · 28/02/2023 07:21

Flavabobble · 28/02/2023 05:59

I wonder if the energy companies will still be making their record profits😡

It's disgusting, isn't it? Record profits while people struggle. How can this even be happening?

BoredBetsy · 28/02/2023 07:23

poochiemaloochie · 28/02/2023 07:19

And i read yesterday that the government are pledging £10 million to make the Eurovision more special! What about the priority of keeping people warm in their homes, it makes me feel sick.

The uk is stupid. After all those years of people hating uk, when we actually won, I knew it would be to foot the bill.

BoredBetsy · 28/02/2023 07:26

Sorry meant when uk came 2nd

Original poster
cakeorwine · 28/02/2023 07:53

CatOnTheChair · 28/02/2023 06:49

This is scaremongering.
Yes, those may be the marketprices, but the government energy 0ricecap has yet to be applied. The actual change to the bill should be significantly less - more like a 20% increase rather than the numbers quoted.

I thought the energy price guarantee was going to be dropped from April.

That will teach more for not reading the entire article.

I was just looking for the prices at the end.

I will get MN to drop this - and adjust my spreadsheet accordingly.

OP posts:
Original poster
cakeorwine · 28/02/2023 07:56

It will of course be interesting to see what the new prices are.

The price cap is £3280
The guarantee is £3000

So it will be interesting to see how the prices of electricity and gas work out.

OP posts: