Price cap ⬇12% from April

66Mustang

I didn't see it mentioned so just thought I'd post it here in case anyone was not aware

The energy price cap is going down by around 12% for the April - June period

Beaver79

Unfortunately standing charges are going up and there is to be a new short term payment for anyone who pays by direct debit to help customers who have fallen into debt. Considering how much the energy companies have made I think this is a disgrace.  
https://www.moneysavingexpert.com/news/2023/11/energy-standing-charges-ofgem-review

https://www.yourmoney.com/household-bills/news-household-bills/energy-bills-could-rise-by-16-to-cover-bad-debts

Jimm_Scope

I can only thank that it's not going up, but 12% isn't much of a drop after how high the prices have risen the past few years.

And as it gets warmer, so we use less gas, they're upping the standing charges as @Beaver79 mentions so they aren't going down by as much as they could. The average household will still be pay £400 extra a year on energy compared to 2 years ago (Feb 2022). Or if you prefer a percentage, about 32% more than they were in Feb 2022.

michael57

shareholders have to make money on there investments trouble is most who own stakes in these companies are foreign countries time to leave the G out of GB  

JessieJ

Disgusting the standing charge is going up, but we're still having to pay for those companies that went out of business. It is quite crazy that hypothetically, if you were to leave your property entirely switched off for a month, you'd still be billed.

It's about time it was scrapped & the price per kWh went up & we pay for what we use, it actually wouldn't have to go up by much to cover it.

michael57

JessieJ said:

Disgusting the standing charge is going up, but we're still having to pay for those companies that went out of business. It is quite crazy that hypothetically, if you were to leave your property entirely switched off for a month, you'd still be billed.

It's about time it was scrapped & the price per kWh went up & we pay for what we use, it actually wouldn't have to go up by much to cover it.

i would say they will scrape the standing charge eventually but the cost of electric will go up more than the standing charge hence boosting there dividends a bit more 

Jimm_Scope

I'd be surprised if the standing charge was scrapped. It's basically free money for them. You're basically renting the meter, whether you use gas/electricity or not.

JessieJ

Who knows if they'll scrap the standing charge or not, it seems most people think it should be.

Here's the new Ofgem rates for April to June wherever you are...

https://www.ofgem.gov.uk/information-consumers/energy-advice-households/get-energy-price-cap-standing-charges-and-unit-rates-region