[meldrewreborn]

This is a link to the latest estimate from Cornwall insight.

Price cap forecasts for January rise to over £4,200 as wholesale prices surge again and Ofgem revises cap methodology (cornwall-insight.com)

If you read it fully you will see that there are a number of different reasons for the extreme jump in prices they are expecting for the first quarter of next year.. Assuming the standing charges don't change, the prices per unit in q1 2023 are estimated to be 67p for electricity and 17p for gas.

If you have the opportunity to fix with Eon Next and the prices being offered are below these new estimates, it might be a good idea to consider the fix, even if it looks horrendous in relation to the current flex prices, which now have only about 7 weeks to run.

[meldrewreborn]

@UKDave51

these costs were first part of the price cap applied from April 2022. I’m expecting them to remain in place for the October and January price caps. All of the costs were lumped onto electricity standing charges even if they resulted from gas supplies and it’s just possible that a different arrangement will be incorporated this time, if so electricity standing charges would come down and gas standing charges go up. Given many customers are electricity only this would be the correct thing to do.
the blame for all this lies in Moscow, and he needs to be confronted even more than currently, which in the short term means more emery cost pain.
i do think electricity generating companies are making excess profits and if they are not prepared to reduce their prices to historic norms they should face punitive windfall taxes, unless they can show substantially increased costs - eg those generating fro gas.

[UKDave51]

You mention the standing charges in your post, Ofgem allowed them to be raised to compensate companies for taking customers from failed firms,
This will be a year down the road, how can they justify keeping them high.
On a side not I`ve seen another report published this morning that the price cap could rise to £5000 from April.

At least D*ck Turpin wore a mask.

[silverfox55]

The very high standing charges will remian so forever more. Good excuse for the power companies to scam more money for the shareholders and company execs.

[Andy65]

Originally Posted by silverfox55

The very high standing charges will remian so forever more. Good excuse for the power companies to scam more money for the shareholders and company execs.

Ofgem are to blame for the high standing charges @silverfox55, in more ways than one.

[meldrewreborn]

The standing charges are calculated from costs, they will go down if we don’t have multiple supplier failures again. But not till April 2023.

[SuperV8]

Thank you for the information.
I've just fixed on Next Online v18 which works out about 67% more for us from the current CAP.

Massive increase! 52.63p for elec and 13.35p for gas! but hopefully less than the CAP rates coming.

Tom.