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BA Electric Cards 2022 - Power Per £


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47 minutes ago, BrundallNavy said:

This year the rate per £1 card is 5.5. Anyone know what it was last year. 

I suspect that is the rate for last year. That is far better than you can currently get at home, never mind what it's going up to after the price cap rises in April. I suspect they have a fixed commercial supply contract and the key statement for me on that web page is that it will be reviewed in May 2022. I suspect by then they will have had their review from their commercial supplier and it will be a lot less than 5.5 units for £ in future.

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yes, at the current quoted prices you would be lucky to get 4 units for your £1, and the price is due to rise another 50% in october too,

quick question, if you already have bought cards, how many units will you get to the £1, will the meters be changed, or the number of units that the card carries, ie if you have an old card will you get the old number of units?

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At the rate of 5.5 units per £ that works out to be 18.2p per unit, which is very cheap. The April price cap is approx 28p per unit, so allowing for a little bit of standing charge for maintenance of the posts etc, I would expect to see 3 units per £ once they reset the price, and even less if they make alterations after the October price cap. It also depends on what agreements they make with their commercial suppliers and any fixed price contracts they enter into are likely to be more expensive than the domestic price cap initially because prices are only going one way.

In answer to your question about cards you have already bought, I don't know the definitive answer, but suspect you will get less units, because when you put the credit on the meter it goes on as Sterling, not units, and therefore the Sterling will be spent at the rate set on the meter.

Slight thread drift warning. Martin Lewis gave advice that if you are on a non smart pre pay meter that you should top your meter up as soon as possible with as much credit as possible as that style of meter transferred units to your meter at the current price you paid. Smart prepay meters can be altered as soon as the price goes up. He has since had to rescind that advice as at least two suppliers have said that if you topped up your non smart prepay meter now and then didn't need to top up for a few months, the next time you topped the key up they would claw back pro rata what they thought you had used at the higher rate by adjusting the price of your future units.

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Hi That would be last years rate i have been paying 3.3p per kwh plus daily rate i received yesterday from my provider that it would be going up to 20.8p kwh plus 24.04 p p day in April surjest you get as many as you can before they re calibrate them to the April rat when the price can be as much as ofcom max rate of 28,34 kwh plus day rate of 45.34 ppd so likely be  more than 30.0p kwh if they charge the maximum. John

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Unless the BA have arbitraged their energy contract based on the sale price of cards, they will end up losing a lot of money against any cards people have bought in advance. Might need to put up the price of new cards even more to compensate.

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1 minute ago, RS2021 said:

Unless the BA have arbitraged their energy contract based on the sale price of cards, they will end up losing a lot of money against any cards people have bought in advance. Might need to put up the price of new cards even more to compensate.

As I mentioned above, you buy £1 cards, not x number of unit cards. I think you will find it doesn't matter when you bought your card, it isn't going to last as long as it did last year. 

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4 minutes ago, annv said:

Hi Correction that is gas should have been 14.47 p kwh  5.0ppd for electric. as so still a big jump too look forward to in April to 20.87kwh. John

John, the price cap for April will be 28p per unit.

4. The price cap protects around 22 million households on default or variable rates on credit meters. The £1,971 per year level of the cap is based on a household with typical consumption on a dual electricity and gas bill paying by direct debit. Customers who pay by standard credit (cash or cheque) pay an additional £130 based on the higher cost for energy companies to serve them. The 22 million households protected by the price cap includes around 4.5 million prepayment meter customers. These customers pay an additional £47 compared to those on direct debit, which also reflects the higher cost for energy companies to serve them. The values shown in the text above include VAT and are expressed for the current Typical Domestic Consumption Values (TDCV) of 2,900kWh of electricity, 12,000kWh of gas, and 4,200kWh of electricity for Economy 7. The price cap is a cap on a unit of gas and electricity, with standing charges taken into account. It is not a cap on customers’ overall energy bills, which will still rise or fall in line with their energy consumption. From 1 April the equivalent per unit level of the price cap to the nearest pence for a typical customer paying by direct debit will be 28p per kWh for electricity customers and 7p per kWh for gas customers

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Whilst it may be immediately obvious why the cost per unit is going up, has anyone noticed how much the fixed cost, the daily standing charge has also shot up as part of the price cap? 

This is where you the consumer now get to pay for the Supplier of Last Resort scheme!! Whenever an energy company gets handed the customers of an insolvent energy company they are transferred under the SoLR scheme, which allows them to recover additional charges in relation to taking on those customers and the debts of the failed companies, so even if you thought you had chosen wisely and your supplier is still in business, you will still end up paying towards the failure of the whole competitive energy market experiment.

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Hi The price cap of 28.34Kwh and 45.34ppd is the max they can charge for electric and gas at 7.37Kwh and 27.22ppd they the utility companies can charge less if they wish This is the information from Ofwat that i obtained . John

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4 minutes ago, annv said:

Hi The price cap of 28.34Kwh and 45.34ppd is the max they can charge for electric and gas at 7.37Kwh and 27.22ppd they the utility companies can charge less if they wish This is the information from Ofwat that i obtained . John

Since there is effectively no competition left in the market I'd be very surprised if you find any domestic rates that are less than the new price cap when it comes into effect in April. Certainly none are being advertised. 

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Hi all,

Yes, the current number of units (5.5) is the same as last year's. It is usually reviewed every few years but wasn't changed last year. It is going to be reviewed shortly in May/June 2022 due to the changing energy costs.

As @Meantimehas suggested, the rate for our energy cards is determined by the meter not the card, so there is no benefit to 'stockpiling' them before the rate is reviewed.

Hope that helps,

Best

Tom

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1 hour ago, Meantime said:

you will still end up paying towards the failure of the whole competitive energy market experiment.

the whole thing wasnt a failure, it appears the companies that decided to undercut their competition didnt understand the energy market, one such never paid a penny of the maintenance fee (DUOS- Distribution use of service) that is part of the standing charges to the companies that owned the network, and then when suddenly those companies asked for their just dues the cheap energy companies folded, that was how they were being competitive, by not paying the maintenance due to network owners.

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47 minutes ago, BroadsAuthority said:

As @Meantimehas suggested, the rate for our energy cards is determined by the meter not the card, so there is no benefit to 'stockpiling' them before the rate is reviewed.

Thanks Tom, that was the question i wanted the answer to, I wasnt sure whether the meters determined the available units or whether the units were programmed into the cards, hence why I asked the question.

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14 minutes ago, grendel said:

the whole thing wasnt a failure, it appears the companies that decided to undercut their competition didnt understand the energy market, one such never paid a penny of the maintenance fee (DUOS- Distribution use of service) that is part of the standing charges to the companies that owned the network, and then when suddenly those companies asked for their just dues the cheap energy companies folded, that was how they were being competitive, by not paying the maintenance due to network owners.

I'm not quite sure what you would construe as a failure then? :default_rofl:Not one of the cheap energy providers are still in business. They were only cheap because they didn't play by the same rules as the big 6 and many of them didn't end up paying the green levies either.

That means that all the consumers who stuck by the big 6 energy providers and by and large paid more for their energy than those who shopped around, are now being asked to contribute towards the failure of those cheaper providers through increased standing charges to help cover losses caused by the Supplier of Last Resort scheme. If it isn't a failure, it certainly isn't a resounding success!!

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it wasnt a complete failure, because some of the small companies played by the rules and are still in business, you have the big 6, so called, but that leaves some 31 other energy companies still trading, ok 62 companies have failed, which shows just how difficult the market is, so looked at that way (ignoring the big 6) we have a 1/3 success rate, which while its not great, does not mean its a complete failure, but not a complete success either to be fair.

it seems that they didnt learn that its better to be an energy distributor than an energy provider, if you own the network, then whoever the customer, as long as a property has an electricity supply it generates a revenue, now while tiny by comparison (i believe its about £30 a year per consumer) the DUOS earned, is earned over a long time, 60 years being the typical planned life of an electricity supply, so while the big boys out there are in the risky business of supplying energy (remember the customer can go elsewhere), the network owner is happily getting his £30 a year per customer) no matter who sends the customer the bill.

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The thing is though out of those 31 surviving companies how many are clinging on by their fingertips? Does that include Bulb Energy who are in special administration because with 1.7 million customers they were too large for the Supplier of Last Resort scheme.

Last year there were 4 million customers displaced by failed energy firms. Their credit balances are protected by the Supplier of Last Resort scheme which is paid for as part of the daily standing charge which is why it has also shot up.

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Hi So every body with a gas and electric meter will pay £267=00 odd per year regardless to how much power they use, if suppliers only get £30=00 =£60=00 where does the other £207=00 go to? do the electric posts have to charge a percentage of this , not sure how you would calculate it. John

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just another thought occurs, as the price goes up at the end of this month, its worth making a note of the meter readings on the day of change, as your electricity company will estimate the usage in two parts, one up to the date of change, one from then forward at the new (higher) rate, so if you have proof of the actual reading, you can correct them when your next bill comes through (only if they have underestimated the usage before the rate change, if they have overestimated it, they will be doing you a favour.)

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