@cbmiller Can someone explain this to me please.
If the price cap is £3,549 does that mean the maximum say Britishgas could charge me is £295.72 a month on standing charges and what Ofgem assumes is the average usage lets say 3000kwh a year on electric and 12000kwh on gas a year? Obviously if i use more i pay more but if i use less do i also pay less or is this cap the lowest i can possibly pay now (Dependant on the company choose to floor it with the cap)
My current electric bill is between £180-£190 on electric alone and it goes up to £250 (This month) if i use my Hottub for 2-3 weeks.
If this helps my last 3 bills were in usage for electric was,
27 April - 29 May = 576kWh
30 May - 26 June = 591kWh
27 June - 29 July = 796kWh
All charged at 27.952p per kWh with a 51.520p standing charge per day.
Can anyone help give a rough estimate of how much my bill will increase by please. I assume i take the current price cap and deduct that from the new price cap and divide that by 12 to get a rough guide of how much it will increase by per month.
So as an example: £3500 new price cap - £1500 current price cap = £2000 increase \ 12 months = £166.66 more a month on electric.
I guess it would be spread out between gas and electric but as i don't use much gas the only price hike would be mainly the standing charge and very little i use for hot water as i never have my heating on etc...
EDIT: What's with the downvote for asking a question so someone can correct my mistakes and help me understand.