Scottish Power -end of 2 year fixed electricity

mro

Scottish Power -end of 2 year fixed tariff at end of Jan.

Now facing big increase of ~£200/year in electricity cost using their current tariffs !!! :eek:


Normally in previous years when I've checked tariffs to switch to, I've managed to find a good deal.

Not having much luck.

mro

I use

3000 kWh/year -Day
1200 kWh/year -Night


Current spend is £536.89/yr.
(ScottishPower - Help Beat Cancer Fixed Price Energy January 2018 Online)


Projection for year ahead is:
£686.75/yr (Scottish Power - Online Fixed Saver January 2019)

£749.37/yr (ScottishPower - Standard)

stewie_griffin

What part of the country are you in?

Have you looked at both single rate and Economy 7 tariffs as you use 28% overnight so might not be benefiting from E7.

In general terms electricity prices have risen quite a lot in the last 2 years so if you were on a good tariff at the time then you'll probably have to face a fairly large increase now. There are however still some good prices out there.

anna42hmr

I found the same as you I too have been on this tarrif and have been checking prices for the last 6 months and all tarrif no mater which company have been considerably higher. I have ended up staying with Scottish power but switching tarrif via the mse cheap energy club as they have a tarrif not available direct. Whilst there were a few other companies cheaper for me I was unsure about some of them and the price differences of others were marginal. I too am on eco 7 but as I have a 45-50% use it worked out better for me to stay on eco 7 then look to switch to single tarrif

System

mro wrote: »

Scottish Power -end of 2 year fixed tariff at end of Jan.

Now facing big increase of ~£200/year in electricity cost using their current tariffs !!! :eek:


Normally in previous years when I've checked tariffs to switch to, I've managed to find a good deal.

Not having much luck.

Going for a 2 year fix is fine; however, in my view, it is still worth checking the market at least once a month. Over the past 12 months, electricity prices in particular have increased significantly: primarily, due to an increase in Social and Economic costs (Govt policy). That said, there have been some good deals available.

macman

Unless I have misunderstood you, you are only looking at SP tariffs? Why?
Put your figures into any comp site and what is the best deal? I would not be looking for another 2 year deal at present: a one year fix will take you towards the end of next winter.
As mentioned above, you are probably only marginally benefitting from E7, if at all. I'm guessing that you have another source of heating and hot water that is non-electric, as your total usage is incredibly low for E7 with NSH's and an immersion heater

footyguy

mro wrote: »

Scottish Power -end of 2 year fixed tariff at end of Jan.

Now facing big increase of ~£200/year in electricity cost using their current tariffs !!! :eek:


Normally in previous years when I've checked tariffs to switch to, I've managed to find a good deal.

Not having much luck.

mro wrote: »

I use

3000 kWh/year -Day
1200 kWh/year -Night


Current spend is £536.89/yr.
(ScottishPower - Help Beat Cancer Fixed Price Energy January 2018 Online)


Projection for year ahead is:
£686.75/yr (Scottish Power - Online Fixed Saver January 2019)

£749.37/yr (ScottishPower - Standard)

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

Why are you not having much luck this time?

What supply region are you in (or what is the first pat of your post-code?)

I feel sure you could find something that would only cost about 5-10% per year more than the deal you fixed 2 years ago :money:

Edit: I'm not sure opting for a single rate tariff is going to save you; it could cost 30% more :eek:
But until we know your supply region, we cannot say for sure.

mro

stewie_griffin wrote: »

What part of the country are you in?

Have you looked at both single rate and Economy 7 tariffs as you use 28% overnight so might not be benefiting from E7.

In general terms electricity prices have risen quite a lot in the last 2 years so if you were on a good tariff at the time then you'll probably have to face a fairly large increase now. There are however still some good prices out there.

I'm in South East, East Sussex (old Seeboard electric company region).

Can you go onto single rate if you have Economy 7 meter, do you have to change meter ?
Always assumed Economy 7 would be cheaper.

Yes, I was on very good deal when I fixed 2 years ago, thought they made mistake.

matelodave

E7 is chepaer at night but more expensive during the day so you need to do the following sums

1200kwh at whatever your off peak cost is (say 8p = £96.00)
3000kwh at whatever you peak cost is (say 15p = £450)
total = £546

and then 4200kwh on a single rate tariff (say 12p = £504)

Put in your own figures to see which tariff is more advantageous or even look to see if you can increase your off peak consumption and reduce your peak.

Using a comparison site will help you sort out what deals are available.

Some energy companies will add the peak & off peak readings to get a single rate tariff, others will insist on a single tariff meter.

Having an appropriate meter makes it a lot easier to swap suppliers as the national database will show that you've still got an E7 meter and some suppliers can't handle a swap to single rate tariff.

footyguy

footyguy wrote: »

...

I feel sure you could find something that would only cost about 5-10% per year more than the deal you fixed 2 years ago :money:...

As I thought...

Based on your current tariff, it would have cost you £536.89

You could pay as little as £35 a year more (about 6.5%) from Powershop
(but this is a variable tariff, and may be a little complicated to get this price)

But for just £46 a year more than you paid last year (about 8.5%), you can secure a 12 month fixed tariff from Iresa
There's no early exit fees to worry about either


If you want a single rate tariff, you'll probably need to get a meter change first, which will probably set you back about £50-£75 (and will take time - these tariffs may no longer be available by then)

But based on what is available today, then you could actually get a tariff cheaper than you paid last year :money:
Just £527.24, but this is a variable tariff
If you want a fixed tariff (fixed until 10-Jul-2019), then that will set you back £566.27 per year. £36 early exit fees apply
Both of these tariffs are from Utility Point

mro

What happened at end of my 2 year fixed tariff with Scottish Power, they automatically transferred me/people from that tariff to a closed 1 year special year fixed tariff, closed ie. not available to others, called Basic Fixed January 2019 tariff.

This tariff is the cheapest tariff available for my usage & slightly cheaper than the Standard variable tariff.

Scottish Power now at end of a fixed tariff by default transfer you to cheapest fixed tariff, not Standard Variable as previously.
In this case they transferred me to a special tariff they specially created.


After logging into my electricity account, I had been transferred to above tariff.
But I also then received an online offer to extend this tariff for an extra 20 months at same rates to end of 2020
on Fix for Longer September 2020 tariff.
Again another closed tariff not available to others.

I should be fixed for 2 years 8 months. (32 months)