The cost of living... what can we do?

Kilo Watt hour.

If something is running at 1000 watts, ie 1 kW, and I run it constantly for one hour, I've used 1 kWh, ie one unit of electricity.

If I run a 10 watt lightbulb for a total of 100 hours, then I've also used 1 kWh.

My lawnmower runs at 1500 watts, I'd 1.5 kW. So if I spend an hour mowing the lawn, then I've used 1.5 kWh ie one and a half units.

 

So how much is it then under the new price cap?

 

My bill states a price for gas and electric in KWh, I've looked, at last, so any rise would now be obvious.
I get the feeling that it is going to rise again, but not as much as they were stating a while ago.

 

Oh stop being awkward.

 

Sorry. I clearly misunderstood. But on the plus side, anyone else that didn't know now does

So what is the capped price of a kWh?

Who knows. I suspect there's some secret magic formula that some computer software spits out. That software was probably written in two halves in separate parts of the world and encrypted before being put together in some secret lab located under an inconspicuous postbox in London.

I don't think they actually cap the price of a kWh directly. For most people ( 85% apparently), it will be some formula where the parameters include price per unit of electricity, price per unit of gas, standing charge, and ratio of gas to electric.

 

Just got an email from the MSE explaining his initial understanding of the new energy bail out.
Afraid its been rather lost by the sad news of the Queens passing.

On the back of a prior briefing and the announcement in Parliament, here is my very quickly bashed out summary of the new energy price freeze.

1. The new price guarantee starts 1 October, and for someone on typical use will be £2,500 a year and will last for two years.
   
2. The current price cap is £1,971 a year rate at typical use, and was due to rise to £3,549 a year (and likely £5,400 a year in January). It was £1,277 a year last winter.
   
3. This will be a cap on standing charges and unit rates, so use less you pay less, use more you 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.
   
4. The new lower price cap includes getting rid of the green levies.
   
5. The £400 payment to all homes (paid as £66 a month over winter) will continue.
   
6. That will take the average payment to £2,100 a year.
   
7. To estimate what you’ll pay, over a year, multiply current costs by 6.5% (each £100 becomes £106.50). This includes the £400 discount (but not other payments).
   
8. For those with lower than typical bills, the % increase will be lower, for higher users higher (as the £400 payment is flat regardless of use, so has a bigger proportionate reduction on lower usage).
   
9. The £650 payments to those on many benefits will continue (half’s already been paid).
   
10. As will the £150 to those with disabilities and £300 to pensioners.
    
11. There’s no announcement on whether these payments will be in place next winter – I suspect the political reality is at least for benefits recipients – similar will be paid next year.
    
12. VAT is not being reduced in this announcement, but there is a chance (50-50 I’d say) that may happen in the Chancellor’s fiscal statement next week.
    
13. For those on LPG and heating oil, I’m told there will be discretionary payments to help them too (awaiting details).
    
14. For those in park homes and who pay landlords directly, I’m told they should benefit from the new business help (awaiting details).
    
15. I'm hearing fixed tariffs will have the same per pound unit rate reduction as variable tariffs (ie, roughly 30% off). So it looks like, unless you fixed at over the new October price cap level, your fix will be cheaper than moving to variable. (More to check on this.)

 

Unless you live in a country where the statistics were fiddled in order to make it appear warmer than it actually is. May every last member of the Tory party rot in hell.

 

Except we go the allowance last year as well.