Something I didn't appreciate until today is that price cap is a limit on the unit price and the daily standard charge, not on the whole bill. The headline price cap figures that are quoted are averages, so some people will pay a lot more.
Today was the first time I checked my unit costs against the price cap and my current tariff for gas and electricity would appear to be above the price cap? Is that correct or am I missing something?
The price cap is a cap on Standard Variable Rate tariffs only. It may be that you are on a fixed rate so could well be paying above the cap but when the cap rises your rates will stay the same provided you are still on your fixed tariff.
The price caps are set for both fuels, for 13 different regions and 3 methods of payment. Thus there are in fact a multiplicity of rates even before adding economy 7 or 10 into the picture. Figures quoted in the media for a national audience are close approximations rather than being absolutely precise. And as joe correctly points out they only apply to the variable tariff.
if you post your prices and your general location and method of payment I can confirm whether your rates are correct - they almost certainly are though.
Current Eon Next and EDF customer, ex Zog and Symbio. Don't think dual fuel saves money and don't like smart meters. Chronologically Gifted. If I offend let me know by private message, but I’ll continue to express my opinions nonetheless.
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