It’s not a price cap. It’s a cap on the price per unit. The BBC bury this in their article, obviously:
>The actual amount paid by households will vary depending on the amount of gas and electricity they use.
I just checked on my supplier’s website, and my electricity has increased by 1.8p per unit, and gas has increased by 0.5p per unit. The standing charge has increased 2p per day for both.
I switched to a ‘dynamic’ tariff last month and it’s been a revelation. You have to pay attention to the rates and make sure to adjust your usage accordingly, but at the time of posting (8:30 – 9:00) my electricity costs 11.51p / kWh. At 10:30am it’ll go negative, meaning I’ll be paid for the electricity I use between 10:30 – 11:00, and again for 11:30 – 12:00, and again from 13:30 – 14:00
The flip side is that the price cap on this particular tariff is 95.23p kwh so if there’s a situation that causes a huge spike you can be significantly impacted. But so far it’s definitely paid off for me – it’s reduced my bill by approx. 40%
For the people at the poorer end of the scale who have already cut their usage back to as little as possible, this will save them maybe £5/10 a month, which yes, is a saving but it’s not going to make life any more comfortable in reality.
I live in Northern Ireland and my energy price just went up.
Every day for the last month my energy provider has messaged me telling me to sign up to our new fixed tarrif now! before it’s too late, offer valid until june 30th. Trying to trap the unwary into the old rates. SMH.
I hope that the price of electricity bills and gas will go down for a long time so that people can save money.
Down a bit, but still about double what it was a year and a half ago.
Saving people about £10/20 a months, and come October/November they’ll find a reason to raise it again, whilst making crazy profits
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It’s not a price cap. It’s a cap on the price per unit. The BBC bury this in their article, obviously:
>The actual amount paid by households will vary depending on the amount of gas and electricity they use.
I just checked on my supplier’s website, and my electricity has increased by 1.8p per unit, and gas has increased by 0.5p per unit. The standing charge has increased 2p per day for both.
I switched to a ‘dynamic’ tariff last month and it’s been a revelation. You have to pay attention to the rates and make sure to adjust your usage accordingly, but at the time of posting (8:30 – 9:00) my electricity costs 11.51p / kWh. At 10:30am it’ll go negative, meaning I’ll be paid for the electricity I use between 10:30 – 11:00, and again for 11:30 – 12:00, and again from 13:30 – 14:00
The flip side is that the price cap on this particular tariff is 95.23p kwh so if there’s a situation that causes a huge spike you can be significantly impacted. But so far it’s definitely paid off for me – it’s reduced my bill by approx. 40%
For the people at the poorer end of the scale who have already cut their usage back to as little as possible, this will save them maybe £5/10 a month, which yes, is a saving but it’s not going to make life any more comfortable in reality.
I live in Northern Ireland and my energy price just went up.
Every day for the last month my energy provider has messaged me telling me to sign up to our new fixed tarrif now! before it’s too late, offer valid until june 30th. Trying to trap the unwary into the old rates. SMH.
I hope that the price of electricity bills and gas will go down for a long time so that people can save money.
Down a bit, but still about double what it was a year and a half ago.
Saving people about £10/20 a months, and come October/November they’ll find a reason to raise it again, whilst making crazy profits