Comment on Analysis: EVs are now nine times cheaper than petrol or diesel to drive in UK

Multiplexer@discuss.tchncs.de ⁨22⁩ ⁨hours⁩ ago

• Zombie@feddit.uk ⁨22⁩ ⁨hours⁩ ago

  the maximum amount a supplier can charge for a unit of energy and standing charge, set by the regulator Ofgem every three months

  Electricity is sold at a price per day (the standing charge), even if you use no electricity you pay this, plus whatever you use in kWh. For example: £0.55 per day standing charge, plus whatever you use at £0.25 per kWh.

  You can get a fixed contract, meaning you know exactly what you’re paying for the next 6-12 months. The standing charge and unit rate are agreed and don’t change. However, suppliers forecast what the prices will be in that time and set their prices accordingly so they still make a profit.

  Or, you can be on the variable rate. This price fluctuates based upon the cost of energy at the time, and can be very volatile depending upon world events at the time.

  The domestic cap is a limit that the state imposes upon the variable rate, supposedly to dampen volatility, prevent price gouging, and ensure energy remains affordable to consumers.

  The cap is reviewed every 3 months and is almost guaranteed to go up every 3 months.

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  • Multiplexer@discuss.tchncs.de ⁨22⁩ ⁨hours⁩ ago

    Thanks for the detailed explanation!

    I guess the caps are only relevant for the normal household-electricity, not for public charging stations?

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    • FishFace@piefed.social ⁨19⁩ ⁨hours⁩ ago

      Yes they’re for domestic electricity contracts only. Charging away from home is generally a lot more expensive.

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    • stsquad@lemmy.ml ⁨19⁩ ⁨hours⁩ ago

      No public charging stations go by the commercial rate. That is not too say you can’t get discounts based on high energy days. Using my domestic energy supplier charging tag i sometimes get a discount if the wind is blowing out the sunshine is strong.

      It will still be more than my overnight domestic rate though (7p/kwH).

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      • Multiplexer@discuss.tchncs.de ⁨19⁩ ⁨hours⁩ ago

        It will still be more than my overnight domestic rate though (7p/kwH).

        Now I am jealous. This would be just 8 Euro ct/kWh…
        Typical average price for household electricity is around 30ct/kWh in Germany, lowest maybe 25ct/kWh.
        I guess you have one of the dynamic rates (those are not very common in Germany)? Does the price fluctuate a lot during the day?

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    • Zombie@feddit.uk ⁨21⁩ ⁨hours⁩ ago

      To be honest I have no idea if it’s relevant to public charging stations or not. Hopefully somebody else can chime in with that info.

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      • Denjin@feddit.uk ⁨18⁩ ⁨hours⁩ ago

        Businesses (ie public charging station operators) are not affected by the electricity price cap.

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