How does £2,500/yr work though ?

Ex Footy Legs said:
The energy companies obviously offer the same rate for gas and power to every household for a year and businesses for 6 months.

Does anyone know when this cap actually starts and does the cap include ‘standing charges’. ??????
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The caps always include the standing charge elemetn and it's set to start on Oct 1 , if your are on variable tariff
 
Electric car users must have breathed a big sense of relief - their energy prices are only doubling not quadrupling.
 
Pear-Drops said:
So I can put heating on 24/7 for next 2 years and will pay a max of £5,000 in total ?
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No that is not how it works. The average bill per year will be £2500( minus the £400 every household is getting off their bills this year), this is not a cap on the most you pay each year. The cap is on the price per unit of gas of electricity, if you use twice as much energy per year then the average household your bill will be twice as much as the average yearly bill. i.e £5000 per year
 
I have calculated a guess at the new energy guarantee rates

The gas will likely be around 10p kWh whereas it was about to go to 15p kWr on the next Oct ofgem price cap rate
So every kWh gas we use from Oct to Dec we will pay 10p of it and your gas supplier will go to the guarantee fund to pick up the other 5p

The leccy is likely to be around 35p kWh whereas it was about to go to 52p kWh on the ofgem price cap
So every kWh leccy we use from Oct to Dec we will pay 35p of it and our leccy supplier will ask for the other 17p from the fund

In Jan if the Ofgem price cap goes up as expected you will still pay the same guarantee rate as above and your suppliers will ask for the extra diff again from the fund.
 
Martin Lewis now suggesting that the per pound discount will be applied to all tariffs including fixed rates. So even if people have a fix below the £2,500 cap rate they will still get that rate discounted.

Interesting….
 
I had to involve the energy ombudsman I use pay as you go and I never received the first payment for October 2022, All the other payments came through the door in a letter what was scanned in the shop topping up the meter automatically .Ombudsman gave Boost till the end of last month to reply to them but nothing as of today so they owe me still. Once these payments stop I think a lot of people are going to be in a lot of trouble the rate they are now charging for energy especially pay as you go like I am on. Petrol / Diesel prices are going to rise 12 to 15 pence a litre in the coming months , You get nothing for the money you pay for food these days . everything is heading in the wrong direction . They put the Blame on Putin it is not his fault it's NATO's / USA's fault if anyone's to blame. America is now conveniently making an absolute killing as Europe's new LPG suppliers
 
gramercy said:
Daft question.......how does the supplier know whether you're charging your car or baking a spud in the oven? :unsure:
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it doesn't, I get 6 hours fixed at 7.5p/kwh every night for the whole house, plus if the provider chooses (I basically tell it what time I need my car ready for, changed to x% the next day, it sorts out the actual charging profile) to charge my car for any period outside of those 6 hours then I get those slots at the cheap rate too (again for the whole house). Those 6 hours are always there regardless though.

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