[Mailman]

I've worked out a few calculations using a spreadsheet to work out what will happen if the energy price guarantee unit rate (per kWh) reductions (17p and 4.2p for E and G respectively) are applied in full to fixed tariffs that people may be on. I've restricted this to the Online Next v ? Direct Debit Tariffs and compared them to the Next Flex Tariff (the SVT) that we should see from October 1st. I've used my own anticipated yearly usage of 2500 kWh (E) and 6800 kWh (G), kept the same standing charges and unit rates for my region (Northern). Just the total figures I've calculated plus an indication of the unit rates (E/G) after any reductions, using these assumptions:

SVT i.e Next Flex from October 1st (34p/10.3p) = £1828.27 yeary total

****Fixed Online v 17 from October 1st (32.96p/8.55p) = £1583.92 yearly total

****Fixed Online v 18 from October 1st (34.83p/9.01p) = £1762.05 yearly total

****These NOW invalid due to floor cap of no lower than (34p/10.3p)

Fixed Online v 19 from October 1st (42.15p/10.77p) = £2063.98 yearly total

Fixed Online v 20 from October 1st (49.34p/12.51p) = £2362.05 yearly total

The one thing anybody should take from this is that if you are currently on v19 (or later), you should drop onto the Next Flex tariff immediately. If you have set it up for a later date then cancel it and drop onto the SVT on October 1st or possibly earlier depending on your current tariff.

Hope this has helped those deliberating on staying on their fixes or moving to the SVT (Next Flex) tariff.

Of course things can change so take this information with a huge pinch of salt.

****Edit: Looks like there is news on fixes such as this meaning there appears to be information coming from M Lewis indicating that there is indeed a 'floor' such that unit rates would not be allowed to go lower than the announced SVT if the EPG reductions are applied to your current fixed tariff***

If this is the case, then only fixes currently lower than the announced SVT rates for 1st October would be worthwhile staying on. Everything else means that you are better off going to the SVT on October 1st (or immediately if your current fix is higher than the current SVT)

[meldrewreborn]

@Mailman

I think its right to concentrate on the prices of the units, but only if the standing charges are in the same ball park. The standing charges under the EPG standard variable will be as per the OFGEM oct 2022 announcement which are about £8 (both combined) per annum up on the April 2022 figures.

Some fixes might have increased the Standing Charges a lot, as they were outside of the price cap. Hopefully you're right though!

[Mailman]

FYI, the SC are the same for the 3 tariffs I quoted in my illustration - E (48.91p/day) and G(27.22p/day) and I suspect that the ones for my region for the Oct EPG/SVT will be the same as they are for these three v tariffs.

From the document:

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.

[meldrewreborn]

@Mailman

but not on fixed tariffs!

[Johnh1995]

Just curious mailman how your annual gas usage is only 6800kwh. There are 2 of us in a terraced house with a gas fire and only use the gas central.heating in Winter for no more than 2 hours a day and we use 18000 KWh. We use the bath with shared water about twice a week
is our usage high or is yours very low?

[Mailman]

Originally Posted by meldrewreborn

@Mailman

but not on fixed tariffs!

I only concentrated on recent fixed tariffs (for my region) v17 v18 and V19. All identical at E (48.91p/day) and G(27.22p/day). The section in the HMG document is just titled

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.

So it leads to think that the SC for the Next Flex (or whatever it is called) from 1st October is going to be the same (or very very close) to where they are at right now. 2 year Fixes from way back or fixes from pre-April will no doubt have SC much lower (for example, my current v7 tariff ending 1st October has much lower SC rates at 19.61p/day (E) and 19.27p/day (G)).

[Mailman]

Originally Posted by Johnh1995

Just curious mailman how your annual gas usage is only 6800kwh. There are 2 of us in a terraced house with a gas fire and only use the gas central.heating in Winter for no more than 2 hours a day and we use 18000 KWh. We use the bath with shared water about twice a week
is our usage high or is yours very low?

OK, gas usage used to be 9,500-10,000 kWh per year until we started economising last December. Only 2 of us in a 2-bed bungalow with adequate insulation. Gas powers CH and DHW. No gas fire (one difference). Thermostat now operated last winter at 18C (reduced from 20-21C) when it was on. Heating programmed only to come on in 2 blocks - early morning circa (8.30-9.30) and late afternoon onwards (5pm onwards). CH flow temperature reduced to 50C and same temperature for DHW - they had been set to 65C I think. Shower hot water is fed directly from the combi - I take only a couple of mins these days per shower and my wife is faster these days and she has maybe a couple of baths in week. We also layered up better last winter and used a heated throw in the evening rather than relying, as we used to, on a really warm house.

If you have a working IHD you can monitor your daily gas usage (in kWh) and can judge how much is being used in a particular time block and can adjust accordingly.

[JoeSoap]

@Johnh1995

I can only compare your gas usage with my own. Without going into details of my circumstances I would have thought that you would consume a lot less than that given what you’ve told us.

There are some huge terraced houses around so the size would obviously have some bearing on it. Assuming it’s a two or three bedroom house that most of us would consider normal then I can’t see where that amount of gas usage comes from.

Maybe you have an inefficient boiler or something. You could switch off all your appliances for an hour or so and make sure the meter reading doesn’t move.

Perhaps others reading this could compare with their usage and comment.

[Andy65]

Originally Posted by Johnh1995

Just curious mailman how your annual gas usage is only 6800kwh. There are 2 of us in a terraced house with a gas fire and only use the gas central.heating in Winter for no more than 2 hours a day and we use 18000 KWh. We use the bath with shared water about twice a week
is our usage high or is yours very low?

Hi @Johnh1995

That's an awful lot of gas in my opinion. I live in 3 bed semi and looking back at my usage (to 2013), the most I've used is just over 8000 kWh and that was with a 20 yrs plus old boiler. I have a gas fire but never use it and I have an electric shower. My boiler was changed for a combi 4 years ago and my average usage since the boiler was changed is around 3500 kWh.

[silverfox55]

My usage is about 15704 per year estimated. Combi boiler, heating about 6 hrs a day in winter, gas hob. 4 bed link detached house.

so 18k usage seems a tad high.