"Fixed rate" that keeps increasing!

Frazzled_mom

Hi there, we signed up to a 2yr fixed rate for dual fuel from Scottish Power about 18mths ago when we moved house. We always update our meter readings when requested. However, we are obviously using much more fuel than originally anticipated and our bills have almost doubled instead of staying on the fixed price!

Has anyone else experienced this? Also do you know if we would be able to transfer to another supplier even though our contract runs to Sept 2016?

Thanks.

footyguy

Frazzled_mom wrote: »

Hi there, we signed up to a 2yr fixed rate for dual fuel from Scottish Power about 18mths ago when we moved house. We always update our meter readings when requested. However, we are obviously using much more fuel than originally anticipated and our bills have almost doubled instead of staying on the fixed price!

Has anyone else experienced this? Also do you know if we would be able to transfer to another supplier even though our contract runs to Sept 2016?

Thanks.

Fixed rate refers to the tariff, not the bill.
The bill depends on how much you use.

You can switch supplier any time you like - refer to your contract as to whether any early exit fees apply.

Tigsteroonie

Is it the fixed rate (cost per unit) that is increasing? Or is it that you are using far more fuel (more units) than anticipated, than in your previous house, and as a result your actual bill has increased?

"fixed price" refers to the price per unit, not the monthly cost for your house, that will depend on how much fuel you use each month.

[Deleted User]

The words "fixed rate" just refer to the price of a single kW of energy and the daily standing charge. So those never change for the 2 year period.

But if you use more energy , it will cause your total costs to increase, so the direct debit will be increased to cover the cost of energy used.

That is how it works, I'm afraid with all suppliers, not just Scottish Power (SP).

Your tariff with Scottish Power will tell you how much it costs to exit before the end of the 2 year period. Just check your online account for the amount.

If you did leave SP early, you would be expected to settle the bill for energy used and if you owe too much, SP might refuse the switch until you have paid off any arrears.

System

Frazzled_mom wrote: »

Hi there, we signed up to a 2yr fixed rate for dual fuel from Scottish Power about 18mths ago when we moved house. We always update our meter readings when requested. However, we are obviously using much more fuel than originally anticipated and our bills have almost doubled instead of staying on the fixed price!

Has anyone else experienced this? Also do you know if we would be able to transfer to another supplier even though our contract runs to Sept 2016?

Thanks.

You can switch at any time; however, you may have to pay contract exit fees in addition to what you owe. You need to look carefully at the details of the tariff that you signed up to.

As others have said, 'fixed' isn't 'fixed'. The only way to make a meaningful comparison of your annual cost is to use kWhs/year per fuel for your comparison. Your bills from SP should show an annual projected usage. Use a site like MSE CEC to select the best deal for your usage and postcode.

Sadly, you are not the first consumer who has mistakenly thought that a 'fixed tariff' was similar to an All You Can Eat mobile tariff. As you have found out, they couldn't be more different.

Froglet

Scottish power have got a recent fixed power tariff that is quite a bit cheaper than previous ones.If you change to the one on offer( I believe it is a 2 year fixed price that donates to a cancer charity) it will cost you nothing to switch to it as you are staying with the company.Here you go



https://www.scottishpower.co.uk/campaigns/fixed-price-gas-electricity

I know a lot of people have had problems with them but I have been with them for years and their website is pretty good.I have had no problems.


I input my readings at the beginning of every month so I know what gas and electricity I am using.

teddysmum

Froglet wrote: »

Scottish power have got a recent fixed power tariff that is quite a bit cheaper than previous ones.If you change to the one on offer( I believe it is a 2 year fixed price that donates to a cancer charity) it will cost you nothing to switch to it as you are staying with the company.Here you go



https://www.scottishpower.co.uk/campaigns/fixed-price-gas-electricity

I know a lot of people have had problems with them but I have been with them for years and their website is pretty good.I have had no problems.


I input my readings at the beginning of every month so I know what gas and electricity I am using.

Whether a particular provider is cheaper for someone depends on where they live and their consumption, so what is cheaper for one household,is not the best deal for another.

Rubidium

teddysmum wrote: »

Whether a particular provider is cheaper for someone depends on where they live and their consumption, so what is cheaper for one household,is not the best deal for another.

Agreed, however the OP will be on an old and more expensive fixed rate than the later fixed rates available and the customer can very easily switch to the cheaper tariff with a simple click of the mouse.

Froglet

Rubidium wrote: »

Agreed, however the OP will be on an old and more expensive fixed rate than the later fixed rates available and the customer can very easily switch to the cheaper tariff with a simple click of the mouse.

Exactly ! I noticed a difference in the cost as soon as I signed up,and if prices go up it is fixed for 2 years.If they come down,you can switch again to take advantage .Win,win.

Froglet

What I don't understand is why someone comes here to ask for help then doesn't return and acknowledge that advice.Still,it may help others.

brewerdave

Froglet wrote: »

What I don't understand is why someone comes here to ask for help then doesn't return and acknowledge that advice.Still,it may help others.

...at a guess -they are embarassed when they realise what the fixed price tariff REALLY refers to.:)