Fixed fee monthly payments

DenFlo

If I  sign up to a monthly fixed rate tariff on my electricity and I use more electric than is covered by that payment, what happens at the end of the term?  Eg I pay £30 a month, but use £40 do i have to pay the difference at the end?  

RelievedSheff

Yes........

Gerry1

There's no such thing as a fixed fee monthly payment, only fixed pence per kWh rates and fixed daily standing charges.  Your direct debit may be the same every month, but it can be increased if your usage is higher than expected and you're not keeping up.  It'll be a double increase, one because of the higher usage and another to claw back the underpayments.  If not, there will be a big shock when you want to leave, you'll have to pay a large final bill immediately and you'll be blocked from leaving if you don't.

There's no such thing as an All You Can Eat energy tariff, that's why there are meters.  Use more, pay more.

UnclaimedEnergy

Depends if you mean fixed monthly payments, or a fixed tariff rate. It sounds like you are talking about fixed payments.

If you have a fixed direct debit, and pay the same every month then you will likely gain credit during the summer months, which is then used during winter months.

If the fixed monthly payment isn't enough to cover your usage on an annual basis then your supplier will review this at some point and increase it. When you switch away, you will either be charged or refunded the difference on your final bill.

For a fixed tariff then what Gerry said

DenFlo

Thanks all, I understand now!