Gas and Electric Fixed price?

Joeread

Hi guys

hope you are all having a good weekend.

I have a quick question, i have filled in a rough idea of what gas and electric i will use in a year (this is my first flat so it a real guess) i have got a couple of places that say i have a £424 a year fixed for 2 years, does this mean that i will be able to leave my TV on and boiler going on all day and night for a year and still only pay £424 for the year?

I wont be doing this but i am trying to see if i only pay £424 no matter what i use.

Thank You

Robin9

No - you will pay for the actual energy used.

dogshome

Sorry - It ain't so

A'Fixed Price' is the the price you pay for each Kwh of Gas/Elec you use, it is not a limit on your annual consumption

Think of it as a can of Baked Beans being offered by Tesco @ 30p - Buy 4 cans and it will cost you £1.20, buy 30 cans and it costs £9.00 - It's up to you to use as fewer KWh, ( Cans of Beans), as you can manage over a year

victor2

It's the rate you pay per kWh used that is fixed, not your actual cost.

jackandcoke

um......nope:rotfl:

teddysmum

All suppliers offer some kind of fix and, as has been said it is the unit charge (and standing charge) which is fixed. The £424 is just an estimate , based on the usage figures you submitted.

HappyMJ

Joeread wrote: »

Hi guys

hope you are all having a good weekend.

I have a quick question, i have filled in a rough idea of what gas and electric i will use in a year (this is my first flat so it a real guess) i have got a couple of places that say i have a £424 a year fixed for 2 years, does this mean that i will be able to leave my TV on and boiler going on all day and night for a year and still only pay £424 for the year?

I wont be doing this but i am trying to see if i only pay £424 no matter what i use.

Thank You

There was a tariff that allowed unlimited usage once. It was very expensive. There's no way even a tiny studio flat would be £424 on an unlimited tariff.

You could use less energy over the next year and get your bill down even further. Turning things off, drying clothes outdoors and changing everything for energy efficient versions will save you money on your energy bills.

You have to figure out if changing a 60W incandescent bulb for a 10W LED bulb at £6 will be worth it.

It will save 80% on your energy bills but the £6 cost of one might outweigh the savings if the light is only on for an hour a day.

Robin9

Joeread - hopefully you've estimated your consumption accurately but do read your meters monthly and submit them on line, read and understand your bills. Expect your DD to change as your supplier tries to guess your consumption with changes in the weather.

£424 does sound quite low when you think that £150 of this will be standing charges.

Double_V

Mine is also £434.
2 bed flat. 2 occupants.
Lots of windows. So don't need light til about 9-10pm.
Majority of bulbs are changed to LED.

Cardew

HappyMJ wrote: »

There was a tariff that allowed unlimited usage once. It was very expensive. There's no way even a tiny studio flat would be £424 on an unlimited tariff.

That was the dreaded Powergen 'Staywarm' tariff. IIRC it was for those aged 60+ and excessive usage in Year 1 brought an excessive increase for Year 2.