Energy Bills info confirmed

[5thCommandment]

Afternoon. I know there are loads of threads on this but I haven't seen anyone post the govt information.

They posted a fact sheet online here: www.gov.uk/government/publications/energy-bills-support/energy-bills-support-factsheet-8-september-2022

Which confirms;
If you’re on a fixed tariff at a higher rate caused by recent energy price rises, your unit prices will be reduced by 17p/kWh for electricity and 4.2p/kWh for gas.

If you’re on a standard variable tariff
The average unit price for dual fuel customers paying by direct debit will be limited to 34.0p/kWh for electricity and 10.3p/kWh for gas, inclusive of VAT, from 1 October.

If you’re on a pre-payment meter
For GB pre-payment meter customers, the Energy Price Guarantee will be applied to the rate you pay for each unit of energy, so the money you put on the meter will last longer than would otherwise have been the case this winter.

Worth reading in full - but hope this helps. In a nutshell, your bills should come down from 1st Oct.

Thanks 😊

Ah thank you. Good to have some detail rather than the nonsense average!

Thankyou!
I know this will sound really dense but is 34p also for a non dual tariff.
By that I mean we only use electricity not gas, will it still be max 34p?!

Thank you @5thCommandment, the info and link are much appreciated.

Thank you, this is so helpful. We're on a fixed tariff. By my calculations we are in a good position with electricity but should cancel our fix for gas - even with the automatic discount we would still be paying 5p per kwh over the negotiated variable rate. In our household this would add up to about £150 extra per month! And the penalty to cancel the fix is only £60. For anyone else on a fix - do the maths don't just assume it will work out alright.

You pay for the electricity you use, so same for everyone whether you use gas, oil, wood or coal.

You might pay less than 34p, but that't the maximum for each kwh.

My understanding is you're capped at 34p/kWh unit in your case.

What people should do is take their usage and multiply that against the new rates for a bill estimate.

It's not clear whether you benefit from the £400 discount on top, but it's a huge help regardless and now gives people clarity and certainty to plan around

In a nutshell, your bills should come down from 1st Oct.

Only for people who had recently signed up to a fixed rate which is high because of the energy crisis - although there’s no precise definition of what that means.

For people on SVR, their bills will go up on 1st October, just not as much as they were going to.

It's not clear whether you benefit from the £400 discount on top

Yes - that is unchanged.