UK electricity price rise.

[CheapHomeGrown]

The UK eletric price is going to be capped at £2,500 a year.

This makes no sense because loads of people would be happy to pay £2,500 for unlimited electricity.
Would be interesting to hear your views

[IceCalibur]

Some information from Martin Lewis on this, that may help explain things (quoted) ;


"This will be a cap on standing charges and unit rates, so use less, you pay less, use more, pay more (I'll publish the rates when I have them). There is no total cap on what you pay, the typical rate is just a figure for illustration."



Here's a video with him explaining things further for those interested ;

[CheapHomeGrown]

Some information from Martin Lewis on this, that may help explain things (quoted) ;


"This will be a cap on standing charges and unit rates, so use less, you pay less, use more, pay more (I'll publish the rates when I have them). There is no total cap on what you pay, the typical rate is just a figure for illustration."



Here's a video with him explaining things further for those interested ;

Thanks Ice,
They really beat around the bush, they could just cap the kWh, day/night rate.
Give us a basic range like (40-50p kWh) frozen for the next 2 years.

[Doink]

Thanks Ice,
They really beat around the bush, they could just cap the kWh, day/night rate.
Give us a basic range like (40-50p kWh) frozen for the next 2 years.

I think that's what they are doing, if I understand it right?

[mpsj]

The UK eletric price is going to be capped at £2,500 a year.

This makes no sense because loads of people would be happy to pay £2,500 for unlimited electricity.
Would be interesting to hear your views

I feel guilty having such low electricity costs over here across the pond.

[CityDweller]

At your current rate I would be using £13,000 in electric per year. That would be £23,000 under the new 80% price hike. I don't understand how people can be expected to live like this. I have not watched the video link yet that Ice posted. Curious to see how much it will be with the cap. I'm gonna have a watch and do some math.

[CheapHomeGrown]

I think that's what they are doing, if I understand it right?

I hope so, just want to know whats going on.

I feel guilty having such low electricity costs over here across the pond.

I have been lucky, my electric only gone up in the last year, the UK temps are mean to be higher (change in the weather) I have moved in the last 6 months to a terrace property(middle house, very well insulated, so my energy bills are lower.
my garden just the right size for my shed and a few potted plants, life could be much worse, I just make the best of things and try and keep my energy bills low.

[CityDweller]

Did I miss it or is "typical use" not specified? We have 4 humans and 6 dogs in our household. Do they take this into account when determining what typical use is?

[CheapHomeGrown]

Did I miss it or is "typical use" not specified? We have 4 humans and 6 dogs in our household. Do they take this into account when determining what typical use is?

The video's a total waste of time, You can't get any facts from the video, there just guessing.

[CityDweller]

The video's a total waste of time, You can't get any facts from the video, there just guessing.

You are right. Capping the kwph makes a lot more sense but I think they are trying to make it more fair so people that use more get hit harder than people that are careful consumers.