As we head towards Summer it has been fascinating, and heartening, to watch the energy markets stabilise - I do it so you don't have to! There is lots of good news. Wholesale prices have come down. Still high, but in the normal range! The pressure for higher energy prices at home then has gone but they won't come down for a long time, I don't think we are ever going back to a pre-2022 world.
The energy price guarantee will disappear at the end of June. This limits electric prices to a UK average of 34.19p per kWh and gas to 10.46p per kWh (source). The maximum price you pay for your energy will again be set by Ofgem in the 'normal' way under the price cap
The energy price guarantee is dead, the price cap takes over again.
So what then will the likely rates be from July to March 2024. Broadly they are likely to be stable over that period (source).
- Electricity 30p per kWh
- Gas 7.65 p per kWh
- Oil 65 p per litre
Electricity costs more than gas, how do electric cookers cost less to run? Find out here!
Oil is not controlled of course, hence its wild swings over the last couple of years, but 65p per litre seems likely as an average over that period.
What does this mean for Aga range cookers?
As ever multi element systems (new cookers from Aga like the ER7 model or our own eControl or Electrikit cookers) remain the cheapest to run and with the lowest impact on the environment. The graph shows clearly though the scale of the environmental cost of oil Aga range cookers. Interestingly while single element electric remains very costly in pounds and pence the environmental impact is still lower than both oil and gas.
Electricity from the grid in the UK keeps getting greener. A couple of days ago in the UK we generated our trillionth kWh of electricity from renewable sources. Big number, doesn't mean much except that to achieve that took 50 years. The next trillion kWh will take just 5 years!
Converting any of these systems, whether old fashioned single element electric, oil or gas, costs approx £5,000. There are running cost savings to be made, huge environmental costs to be reduced and of course a newly installed or converted multi element Aga range cooker requires no servicing and comes with a 5 year parts & labour warranty; peace of mind.
