Energy tariffs

PaulLynn

Just about to move into our first home tomorrow and have been looking into the different energy tariffs available and we are thinking of going with a fixed tariff. Has anyone else got a fixed tariff and would you recommend going for this ? Thanks

JJ_Egan

I suspect most on here are on a fixed tariff .

Not fixed price can rise at any time ,see recent British Gas price rise .

Personally i am on a new Two Year fixed tariff .It will be wrong if prices drop significantly within the next two years .

PaulLynn

So does this price stay fixed no matter how much energy you use ? Or does it increase if you go over a set amount ? Not entirely sure how it all works. Thanks

System

PaulLynn wrote: »

So does this price stay fixed no matter how much energy you use ? Or does it increase if you go over a set amount ? Not entirely sure how it all works. Thanks

Le's start at the beginning. When you move in you are on a Deemed tariff with the existing supplier to the property. You need to contact them with your details and meter readings and then you are free to switch. You will be charged at the Deemed Supplier's highest tariff rate until the transfer goes through, so do not delay.

Fixed tariffs are NOT 'all you can eat' energy plans. The only things that are fixed are the contract length; the unit price and the standing charge. The more energy that you use, the more that you will pay. You initial monthly payment will be set on the basis of 1/12 of the annual cost for the usage that YOU give to the supplier in kWhs/year. Getting this estimate right can be something of a challenge for new owners. The key here is to monitor your usage and make sure that you give the supplier monthly meter readings.

PaulLynn

Yeah that!!!8217;s the first thing I!!!8217;m doing as soon as we get the keys taking meter readings and contacting the energy supplier. Right ok is it mandatory to give the supplier monthly meter readings or is this optional in order to keep track of my usage ?

PennineAcute

You will normally get a statement each month, laying out how much you have used and the cost for that month. If you do not give a monthly reading, or more frequent, they will estimate your reading for that month. That estimate could be quite close to the actual reading or way out.

To ensure that your monthly direct debit is going to cover your usage over the length of your contract, give your energy company readings at least once a month. Therefore, your monthly direct debit can be adjusted, it you are paying too much, or too little.

Farway

PaulLynn wrote: »

Yeah that!!!8217;s the first thing I!!!8217;m doing as soon as we get the keys taking meter readings and contacting the energy supplier. Right ok is it mandatory to give the supplier monthly meter readings or is this optional in order to keep track of my usage ?

It is mainly optional to give readings, but most on here would say to supply them regularly , to prevent the supplier estimating [having a guess] at your usage

By supplying the actual readings you will also be able to see exactly how your costs are against you direct debit, that way you can avoid a nasty shock with an unexpected bill for energy used but not budgeted for

PaulLynn

Right ok that makes sense thanks for your help.

PaulLynn

Yes I think after hearing this I will be giving them monthly updates to keep on top of our bills. Thanks

NineDeuce

Yes because the other option is generally out of contract rates.

If there is a such variable tariff based on wholeprices, then note that energy prices never go down..

JJ_Egan

Yes OP my price is fixed for two years .
Price not consumption is fixed and the more i use the more i pay .
My Direct Debit is set at xx amount based upon the price and my average consumption .
That may change within the contract and my last contract did that dropping by £10 pm . My final bill was £17 short at the end of the year .