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Hi,
What do people think the cap will mean for both standard and Octopus Go rates from April 2023?
The energy “cap” is rising from £2,500 to £3,000, which is a 20% rise (remember that the £66/67pm is a £400 subsidy we won’t get next year, so bills will actually rise by 43%).
The cap covers both standing charges and unit rates and the mix across gas and electricity varies - for example next year we may have lower standing charges if we have paid off some of the energy company failures from last year. Then also, the rates/charges vary regionally.
Cornwall Insight’s latest predictions:
I am thinking the basic rate will be 40p/kWh and Octopus Go will be 50p/17.5p
Edit: And I am thinking rapid chargers will rise to 75-90p/kWh.
Edit2: Got my sums wrong! Corrected!
What do people think the cap will mean for both standard and Octopus Go rates from April 2023?
The energy “cap” is rising from £2,500 to £3,000, which is a 20% rise (remember that the £66/67pm is a £400 subsidy we won’t get next year, so bills will actually rise by 43%).
The cap covers both standing charges and unit rates and the mix across gas and electricity varies - for example next year we may have lower standing charges if we have paid off some of the energy company failures from last year. Then also, the rates/charges vary regionally.
Cornwall Insight’s latest predictions:
Predicted fall in the April 2023 Price Cap but prices remain significantly above the EPG
Our latest Default Tariff Cap (price cap) forecasts for April – June 2023 (Q223) have dropped by over £600 since the last widely released figures on 17 October.
www.cornwall-insight.com
I am thinking the basic rate will be 40p/kWh and Octopus Go will be 50p/17.5p
Edit: And I am thinking rapid chargers will rise to 75-90p/kWh.
Edit2: Got my sums wrong! Corrected!
Last edited: