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Ofgem price cap

 
Solar Photovoltaic (PV)
Last Post by Jeff 2 years ago
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 robertoi
(@robertoi)
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Topic starter 15/01/2022 8:20 am  

Morning

Planning a PV installation atm

I awoke this morning to the joyful news that the Ofgem price cap is likely to hit £2400 by next autumn...

I have been trying to find info on how the cap price relates to unit price. As far as I can see this is supposed to be a cap that would represent the 'average consumer' presumably something like a 3 bed house, 4 occupants bla bla. However Ive found it remarkably difficult to find exactly what they consider the 'average' consumer to be.....

Does anyone know how to convert the price cap to an estimated rate for gas/ electricity?

 

Thanks


   
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Jeff
 Jeff
(@jeff)
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15/01/2022 3:34 pm  
Posted by: @robertoi

Morning

Planning a PV installation atm

I awoke this morning to the joyful news that the Ofgem price cap is likely to hit £2400 by next autumn...

I have been trying to find info on how the cap price relates to unit price. As far as I can see this is supposed to be a cap that would represent the 'average consumer' presumably something like a 3 bed house, 4 occupants bla bla. However Ive found it remarkably difficult to find exactly what they consider the 'average' consumer to be.....

Does anyone know how to convert the price cap to an estimated rate for gas/ electricity?

 

Thanks

Based on what is called typical domestic consumption value tdcv. 

The figures quoted in the press are for a Standard Direct Debit Dual Fuel customer using 12000 units of gas and 2900 units of electricity. Actual customers will pay a slightly different amount depending on where they live if using this amount. It is about 20.1p per unit of electricity and 4.1p per unit of gas currently for the current price cap. For the next price cap gas is currently expected to go up more than electricity in percentage terms. The price cap is expected to be released on 7th Feb and comes into force in April. So not long to wait. 

There are actually price caps for a variety of different customer types and regions, e.g. those using pre pay meters.

Tdcv are usually updated every April as typical domestic consumption changes over time. However the updates were cancelled for the last two years so remain 12000 and 2900 due to covid impacting the amount of time many people spent at home and how much energy they used. 

 

 


   
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