Posted 16 November 2023

Cornwall Insight - Predicted Energy Price Cap Jan-March 2024 - Forecasting 5% Increase

Cornwall Insight latest predicted Standing Charge/Unit Costs forecasts along with current price cap.

cornwall-insight.com/pre…ap/

Oct-Dec 23 (current price cap)
SC (£/day): Elec-0.53, Gas-0.30
UC (p/kWh): Elec-27.00, Gas-7.00

Jan-Mar 24
SC (£/day): Elec-0.53, Gas-0.30
UC (p/kWh): Elec-28.69, Gas-7.42

Apr-Jun 24
SC (£/day): Elec-0.61, Gas-0.30
UC (p/kWh): Elec-26.57, Gas-7.00

Jul- Sept 24
SC (£/day): Elec-0.60, Gas-0.30
UC (p/kWh): Elec-25.59, Gas-7.01

Oct -Dec 24
SC (£/day): Elec-0.61, Gas-0.30
UC (p/kWh): Elec-26.69 Gas-7.06

"The high increase in electricity standing charges is primarily due to the ongoing reform of network charges, which has shifted more of the charges from per unit to per day, meaning that customers will incur such costs regardless of their actual consumption."

Ofgem will review the standing charges.
ofgem.gov.uk/pub…lls
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  1. bozo007's avatar
    We should be encouraging everyone to reduce energy consumption. Yet, the crazy standing charge is a tax on those who consume less, out of compulsion or otherwise.
  2. Ferris's avatar
    The standing charge continues to be an abomination that disproportionately targets low and frugal energy users.
  3. Timbonagasaki's avatar
    Or move to Octopus and pay less. (probably)
    northeastkev's avatar
    I’m on their tracker tariff, price changes every day. Recently been anywhere from approx 15p to 20p per kWh. Gone up slightly the last couple of days to around 21p per kWh.
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