One year fixed rate

guppy55

hi, I have a one year fixed rate for gas and electric with SSE, I appear to be using more energy than the monthly cost I am paying, my question is, at the end of the term will I have a big bill to cover any shortfall? If the answer is yes what is the point of fixing rather than paying standard usage rate?

JJ_Egan

You have fixed your rate but you have not fixed the amount you use its as simple as that .
The tariff says the rate and standing charge is fixed for one year again its simply up to you how much you use .
Get them to revise your direct debit now rather than later .
I take it you are submitting frequent meter readings .

guppy55

Yes I am taking regular readings, they have suggested that I increase my monthly direct debit.

saver861

guppy55 wrote: »

Yes I am taking regular readings, they have suggested that I increase my monthly direct debit.

The fix is the guarantee that their energy prices will not rise for the duration of the deal. The amount you use will have to be paid for - either with adeqate montly payments or a bigger bill at some point in the future.

macman

guppy55 wrote: »

Yes I am taking regular readings, they have suggested that I increase my monthly direct debit.

So if you do that you will not have a big bill at the end of the term-your DD will be adjusted to match your actual consumption.
The point of a fixed rate tariff is to buy ahead for a year at a fixed price-you are effectively buying an insurance policy to cover you should prices rise in that year.
It's not an 'all you can eat' deal.