Eeek, my electricity account says capped til 2014!?

hels123_2

I was just looking for my account details with a vue to cancelling my account with Scottish Power, but it says I am capped until January 2014 :eek:

I cant ever remember signing up to this! Can I get out of it??

rogerblack

hels123 wrote: »

I was just looking for my account details with a vue to cancelling my account with Scottish Power, but it says I am capped until January 2014 :eek:

I cant ever remember signing up to this! Can I get out of it??

Why are you thinking of switching?

hels123_2

Beacause my elecricity has gone up to £76 per month!!!!

backfoot

Did this tariff happen without your knowledge? If it did you may have a claim for misselling.

If it didn't you can exit it at any time. If you react to notification of a price increase,you can exit it free from any termination charges.You have to give written notice to SP before the price increase takes effect.

Do a comparison using an accredited website to search for a cheaper deal.Use KWh annual consumption rather than monthly payment amounts.

If you want advice it is better to include as many details as you know rather than dripfeed snippets in.

ricky9

backfoot wrote: »

If it didn't you can exit it freely at any time. If you react to notification of a price increase,you can exit it free from any termination charges.You have to give written notice to SP before the price increase takes effect.

This is not correct if the OP dds have increased this is not a price rise
it could be so they will have a zero balance at there review.

backfoot

I meant freely in the general meaning of free to move. I had already edited the word out in case someone misinterpreted it. (9.38).

A lot of Supplier's have recently increased prices so the DD change may be as a result of that.If he had reacted within the timescale then he would be able to exit' totally freely'.

rogerblack

hels123 wrote: »

Beacause my elecricity has gone up to £76 per month!!!!

Do you have a credit or debit on your account at the moment.
Do the company have an accurate reading.
If there is a credit on your account, it could be that they are assuming you are going to be needing more electricity over the winter, so are putting up your DD in the assumption that without doing so, you will fall into arrears by the end of the winter.
If there is a debit on your account, your bills have gone up because they want their money, not unreasonably.

The simplest way, if there is neither a credit or debit on your account would be to reduce your usage.
If there is a credit on your account, you should be able to reduce the DD.

hels123_2

I have heard nothing at all from them - no emails or anything (its an internet account) and they have put my DD up from £50 to £76 (this was july!!) and havent told me, i have just noticed now!
i am £96 in credit, but am due the next bill on 20th October, so will only get one more DD in before payment, and I guess they are, like rogerblack says helping me be in credit over winter?

I just thought with all the hype it was the time to be switching, maybe I should stay put??

rogerblack

Leaving the tariff you're on needs to be thought about - if you're paying a reasonable amount for your electricity, and are capped till 2014.

Investigate the price of other capped plans.
See what the variable price rate would be at the moment, and think if whether security or possible savings that might be wiped out by price rises are more important.

See uswitch, or one of the many other comparison websites.
Research to see if there is any exit fee for the tarrif you're on.

And perhaps most importantly.
Get an energy meter that you can clip to your meter to read out what's happening 'live'.
This can - if you're willing to change the way you do things a little - cut your bills a fair bit.