Interesting. The gas rate is slightly higher than what I fixed at but the electricity slightly lower.Some further details below. I know we'll be having to pay for this somewhere down the line, but given the need to make this recession as brief and painless as possible, I find it hard to see this as bad news.
Source https://www.gov.uk/government/publi...ergy-bills-support-factsheet-8-september-2022
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.
As is the case with the ‘price cap’ under the Energy Price Guarantee there will continue to be a small difference between the unit cost for a pre-payment meter customer and other bill payers.
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.
These unit prices have been passed to suppliers to ensure that they are used to calculate bills on time for 1 October.
Energy suppliers will adjust standard variable tariffs automatically. Customers on standard variable tariffs do not need to take any action to get the benefits of this scheme.
If you’re on a fixed tariff
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.
These unit prices have been passed to suppliers to ensure that they are used to calculate bills on time for 1 October.
Energy suppliers will adjust fixed tariffs automatically. Customers on fixed tariffs do not need to take any action to get the benefits of this scheme.
Standing charges
Average standing charges will remain in line with the levels set by Ofgem for the default tariff cap from 1 October, at 46p per day for electricity and 28p per day for gas, for a typical dual fuel customer paying by direct debit.
That article said that only if you fixed “at a higher rate due to recent rises” would you get the reduction. They will possibly miss out.My next door neighbour fixed at a very low rate for his gas and electric last year according to your figure they will be laying him cash!
I suspect they'll cap the reductions so you can't fall below the 34.0p/kWh for electricity and 10.3p/kWh for gas level, with standing charges at 46p per day for electricity and 28p per day for gas. If your fixed tariff is already lower in any respect, that will be your savings over a variable tariff.Interesting. The gas rate is slightly higher than what I fixed at but the electricity slightly lower.
Those reductions for fixed tariffs look at bit odd. You would imagine that the fixed rates would be reduced by some percentage rather than a constant price per kWh otherwise you’d have a massive advantage if your fix was slightly above the government rates but no reduction if your fix was slightly below.
I’m sure there will be more details to follow.
Yeah I agree it will be something like that. Just seemed a barmy concept to specify reduction of fixed tariffs by exact figures when there are probably countless fixed tariffs over a large range of prices. Still, it is the UK government, so that's par for the course.I suspect they'll cap the reductions so you can't fall below the 34.0p/kWh for electricity and 10.3p/kWh for gas level, with standing charges at 46p per day for electricity and 28p per day for gas. If your fixed tariff is already lower in any respect, that will be your savings over a variable tariff.
They’re looking for gas leaks. If one gets overcome by fumes and falls into the hole, the rest can leg it. That’s why they’re dressed in canary yellow jackets.Regards Gas price increases,All around the area Cadent are renewing old gas supply lines,Cheadle,Disley,Wythenshawe ,etc,Now the gas companies have to pay for this company to have lots of temporary traffic Lights ,and lots of men stood doing nothing but looking down holes whilst a single guy is working,or there is no one there cause they once again having a brew.Now they need paying as do the company shareholders,so where is the extra finance coming from,you guessed it us.
Windfall tax should be covering it not us in our taxes for years to come , cant be upsetting her mates she used to work with at shellIs everyone happy with the intervention of the Government or do you think they should have done more.
Unfortunately we are always the ones to pay it’s what us commoners were put on this planet for, brexit, vat, stamp duty, car tax, covid, energy crisis, hundreds more ways of making sure we don’t get above our station.Windfall tax should be covering it not us in our taxes for years to come , cant be upsetting her mates she used to work with at shell