Obscene price increase from Scottish Power

clochi

johnny_storm wrote: »

Probably like many people this time of year, my tariff is due to end at the end of this month.

Imagine my shock when I see that the next best deal (not the standard tariff) from Scottish power is 40% more expensive.

40%!!!!

I live in a flat, so I have peak and off peak rates.

Day time: 40% increase
Night time: 27% increase

I have to wonder how we'll cope with such eye watering increases in the future. Other than to be sat in the cold and dark.

Yes, you are correct.

My electric tariff with my current supplier, Iresa, expires this month.
They've offered to renew it for another 12 months at the same price.
I've done a comparison, and it beats everything else available to me by a good 20% saving.

Unfortunately, this deal is currently only available to existing Iresa customers.

You need to complain to Ofgem, as apparently it is they who are preventing new customers from being given this deal.

System

johnny_storm wrote: »

So although better. Still a huge increase far outstripping inflation. I guess am I not the only one facing such increases, which is why I started the thread.

Of course, energy costs do form a small part of the CPI (which is used these days in preference to RPI); however, I took your comment to mean that you could not understand why energy prices are increasing at a higher rate than RPI? All I was pointing out is the cost of energy is dependent on market forces and Government costs. The biggest increase in the cost of energy in recent years has come from increases in Government imposed costs:

https://www.energy-uk.org.uk/customers/about-your-energy-bill/the-breakdown-of-an-energy-bill.html

The smart meter programme alone will add £12Bn to all our bills.

giraffe69

You need to complain to Ofgem, as apparently it is they who are preventing new customers from being given this deal.

Aren't Iresa being stopped from taking on new customers because they couldn't deal satisfactorily with the ones they already have?

Blackbeard_of_Perranporth

Why do sheeple wait until end of tariff to move in their supplier. I am with SP, and move from Dec 18 2 year fixe to Apr 19 Super saver in February! This was via the infamous Your Stitched website!

System

Blackbeard_of_Perranporth wrote: »

Why do sheeple wait until end of tariff to move in their supplier. I am with SP, and move from Dec 18 2 year fixe to Apr 19 Super saver in February! This was via the infamous Your Stitched website!

Because there is a common misconception that there are large savings to be made by delaying the switch. In truth, from April through to October, any savings are very small. That said, with the 20 day tariff protection rule, there is no reason to switch at the 49/42 day point. Provided a supplier is notified via industry procedures that a transfer is in progress by end of contract date plus 20 days, then tariff protection kicks in.

Delaying a switch carried two risks: one, that a 'good' tariff will have been withdrawn and, two, the new supplier is tardy and notification is not sent within the 20 day period. The penalty being a default to the SVT until the transfer finally goes through.

Blackbeard_of_Perranporth

Hengus wrote: »

Because there is a common misconception that there are large savings to be made by delaying the switch. In truth, from April through to October, any savings are very small. That said, with the 20 day tariff protection rule, there is no reason to switch at the 49/42 day point. Provided a supplier is notified via industry procedures that a transfer is in progress by end of contract date plus 20 days, then tariff protection kicks in.

Delaying a switch carried two risks: one, that a 'good' tariff will have been withdrawn and, two, the new supplier is tardy and notification is not sent within the 20 day period. The penalty being a default to the SVT until the transfer finally goes through.

Yes. But I’ve switched in tariff fix now for over 15 years. I cannot remember ever paying SVR. My rate is within £60 a year of the best at Your Stitched dot con.!

ian103

johnny_storm wrote: »

Probably like many people this time of year, my tariff is due to end at the end of this month.

Imagine my shock when I see that the next best deal (not the standard tariff) from Scottish power is 40% more expensive.

40%!!!!

I live in a flat, so I have peak and off peak rates.

Day time: 40% increase
Night time: 27% increase

I have to wonder how we'll cope with such eye watering increases in the future. Other than to be sat in the cold and dark.

Jonny I clocked the same a couple of weeks back, our Scotish Power tariff runs out in January and to go onto their latest is +44% overall, a shocking increase. I guess this will be an increase of £400 a year. A change in provider will be on the cards.

jk0

I'm beginning to wonder if there is more than meets the eye regarding obscene price rises from the big six. I suspect they are deliberately shedding price-savvy customers. They are keeping on loyal pensioners and others unable to cope with switching, in the knowledge they can charge what they like.

Thus turnover may be less. but profit per customer is more.

ian103

jk0 I suspect you maybe correct, and when you go on the basic price comparrison sites the costs are all very similar, but if you look elsewhere there are cheaper options (Buld and a few others).

jmatt81

The current fix I am on with SP (Beat Cancer Jan 19 v2) is very cheap compared to what's out there at the moment. I will need to switch nearer the time but, as I am eligible for the Warm Home Discount, and many of the cheaper/smaller suppliers do not do this, I will need to wait for this to be applied to my account first. Last year in happened mid-November.