An energy supplier has revealed it will be applying its own discount to customers by cutting all of its advertising. The firm will use this cash to lower the 'astronomical' standing charges.
A standing charge is added to most gas and electricity bills. It's a fixed daily amount that customers have to pay, no matter how much energy is used, to cover the cost of supplying a property with gas and electricity.Daily unit rates for electricity will be around 34.00p per kWh with a standing charge of 46.36p per day, while gas will have a unit rate of 10.30p per kWh, with a standing charge of 28.
"From October 1, your unit rates will match, and your standing charges will be 4% cheaper than the Energy Price Guarantee rates. You don't need to do anything – this will be handled automatically. "The Government's Energy Price Guarantee is helping lower unit rates, but standing charges are still astronomical. 6 months ago, we introduced Loyal Octopus support to help address this, but today Loyal Octopus support is changing to direct support where it's needed most.
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