Warm Home Discount - Scottish Power

Ningaloo

I have applied for the Warm Home rebate which is paid 31/5/2017.

If I move supplier I will lose the discount.

Having read Martin's weekly email I have looked at potentially fixing for another 12 months but if i move I'll lose my rebate. If I stay I will miss any deals as the weekly email suggests prices will hike in April.

I am at a loss what to do.

Comparing rates it looks as if the monthly direct debit will jump from £52pm on my fixed rate, to £74pm on variable, IRESSA £55pm fixed or stay on a fixed rate with Scottish Power for £65pm

The rebate is £140 but I'll never get paid it because I keep having to 'jump ship' before the rates rise.

Anyone have any ideas / suggestions what I should do?

Many thanks for any help.

footyguy

Ningaloo wrote: »

I have applied for the Warm Home rebate which is paid 31/5/2017.

If I move supplier I will lose the discount.

Having read Martin's weekly email I have looked at potentially fixing for another 12 months but if i move I'll lose my rebate. If I stay I will miss any deals as the weekly email suggests prices will hike in April.

I am at a loss what to do.

Comparing rates it looks as if the monthly direct debit will jump from £52pm on my fixed rate, to £74pm on variable, IRESSA £55pm fixed or stay on a fixed rate with Scottish Power for £104pm (crikey).

The rebate is £140 but I'll never get paid it because I keep having to 'jump ship' before the rates rise.

Anyone have any ideas / suggestions what I should do?

Many thanks for any help.

Consult a comparison site to find the best deal for you.

The comparison site will not allow for the WHD you are entitled to, so you'll need to factor this loss into the equation to decide what is best for you.

You know you will get the WHD by end of May, so ideally you need to be saving more than the WHD by switching now.

(Yes, you may miss out on offers available now, but may not be available in say May when you apply to switch, but that has to be factored against the oncost you will suffer from now until say May because of the great tariff you are on)

You need to look carefully at the numbers, but chances are it would be best to remain with SP until your WHD is paid, hopefully on the current tariff, or if not on the best tariff available - be careful of any early exit fees that you may incur due to the choices you make.

Currently, SP actually would be the cheapest supplier for me based soley on currently available tariffs.

Ningaloo

Thank you. Im on a very good deal at the moment and it cant be beat. The MSE Energy Club confirms this. I think I may be sticking with SP as everyone else is more/just as expensive comparing todays rates.

System

Do you know when sp pay the warm home discount by any chance, I applied same morning it opened still have the email with reference number on, just a little worried I won't get it. Eon was so quick to apply it to electric bills. Thanks

Richie-from-the-Boro

mackemps3 wrote: »

Do you know when sp pay the warm home discount by any chance, I applied same morning it opened still have the email with reference number on, just a little worried I won't get it. Eon was so quick to apply it to electric bills. Thanks

DWP certified 'core' group and self certified 'broader' group both have the same pay by date. Core group is guaranteed, broader group is 1st come 1st served - when the pot is empty all payouts stop. The rules changed two years ago, apply early each & every year, their website is the only way to know what's going on. Best of luck.

mr662

Hey OP, in same boat as you, contacted SP and was informed if i qualified i would be paid by May 31st but my fix ends April, so worked out its actually worth letting them switch you to a standard tariff for a month till its paid (could be sooner) then compare the market at that point and switch to another fixed deal.

May/June weather usually okay so your energy consumption should be low ish therefore not a huge diff in those months costs being on the standard tariff.

redux

Some suppliers seem to be competitive in some areas, but not all.

This certainly applies in this area, and this house has been with Scottish Power for years, always within a couple of quid of the best price available anywhere, switching sometimes 4 or 5 times in 6 months as prices were falling. Only in the last few months has there been some competition from a handful of the new providers.

So I would assume that Scottish Power would still be reasonable for you going forwards.

If your fix currently goes to March or April then I don't see any point in changing yet, as you'd be paying higher for gas in those few weeks.

Then possibly go to a new fix with Scottish Power, but have a look around in case. There won't be huge differences while gas use is down through the summer. Then although SP have exit fees for fix deals, you can swap to any of their tariffs free, and their standard tariff has no exit fee, so I would assume that can be a two stage way out free, maybe with a month on standard but check.