Electricity contract renewal prices

Staman

I received an email a week ago from my electricity supplier (56 days before end of my current 12 month fixed price contract) with a 'Renew' link. I checked the price and was disappointed to see that a new 12 month contract would be 12% more than this year's cost.  I checked again today (now that I'm in the 49 day window to not incur an early-exit charge) and found the kWh and standing charges to be much lower - which would result in total cost next year being 1% less than this year's costs.  I know that electricity costs are variable, but a 13% change in a week is remarkable. I wonder whether the supplier is just gaming the system and hoping that people will just renew anyway regardless of the cost. 
Has anyone else noted this type of change in quoted prices with their supplier?

Robin9

Were you comparing the estimated annual costs or the unit charges and standing charges ?

Staman

I know my annual kWh consumption (consistent for many years) and worked out annual cost based on p/kWh and p/day standing charge.

Margaret_Gammie

SSE has increased my direct debit every month for the last seven months.
 It is now £274 (£3288 annually!)
 I have storage heating with two meters. 
Is there anyway I can change or reduce this?

[Deleted User]

I've recently had a 'similar' experience. Was offered a deal shortly before the 49 day window, which would alledgedly save '£100'. But it wasn't really clear on what that 'saving' was based. They also did not include the tariff rates, which is the only thing i am interested in.

Needless to say, i did not take them up on their 'offer'!

dogshome

Tariffs come & go all the time - However whatever tariffs your current supplier is offering you as the present one approaches expiry,

Always go back to basics and do a search on the Citizen Advice website - Not only will you be able see the whole market, you will often find a cheaper, 'hidden' tariff from your present supplier   EDF are famous, or is it infamous, for this tactic

melbury

Over the past few days I have been on various comparison websites because my two year fixed tariff ends soon.  Unfortunately I totally got it wrong in fixing for two years and have been paying too much for quite a while   

Anyway there are so many supplier names coming up that I have never heard of and so am a bit wary.  I know from the news that a couple of "new" energy suppliers have gone broke, which isn't very reassuring for customers. 

Just wondered if anyone has any experience of these new ones - good or bad - or is it better to stay within the big six?

I am currently with EDF and have always been very happy with their service.  

The above post says that EDF often have a "hidden cheaper tariff" - where would I find this?

Think I will try to find a one year fix this time.
Many thanks.

stewie_griffin

Ofgem announced the new price cap levels this week, so that may have also affected this.

Talldave

melbury said:

Over the past few days I have been on various comparison websites because my two year fixed tariff ends soon.  Unfortunately I totally got it wrong in fixing for two years and have been paying too much for quite a while   

You could have bailed out to a cheaper deal once the savings exceeded the exit fees on your two year deal.

Staman

Thanks for your replies - I'm currently with EDF, but will move to a cheaper supplier,

melbury

Talldave said:

melbury said:

Over the past few days I have been on various comparison websites because my two year fixed tariff ends soon.  Unfortunately I totally got it wrong in fixing for two years and have been paying too much for quite a while   

You could have bailed out to a cheaper deal once the savings exceeded the exit fees on your two year deal.

Was mainly during the spring/summer period that prices have fallen generally, so wouldn't have been worth me paying the exit fees as of course usage was lower.