Energy Hike Concerns

stixman3

My contract was due to end with Utility Point (UP) 30/09/2021, but as most are now aware, they have had to cease trading. I also have managed an account with UP for an aunt. Looking for advice online, I was recommended to wait until a designated company would take over UP's customers, leaving my Direct Debit in place, and not to look elsewhere.  This generally was also the advice of Martin Lewis, so I took it on board.

Events have since been moving at a fast pace, and I am wondering if I have made the right decision for my family and my aunt. Today I learned that EDF have taken over UP's customers since 18 September 2021, and it seems that each day prices are rising, despite the so-called "cap".  I am now more concerned having just gone onto EDF's website to view their tarrifs.  To put it into context, my monthly bill last year was £70 per month, or £835 pa. This is what I was just quoted from EDF:

Oct24v2

Fixed until	Exit fees	Monthly personal projection
Fixed until October 2024	Exit fees £200	Your estimated monthly bill £334

£334!!!  This is nearly a 500% price rise!  The e-mail from EDF explained that I would be put on a Standard(variable) rate, but could this not be a higher tarrif?  I wasn't able to find any other tarrif's with my details.  I hope that I am reading things wrongly here, and would really appreciate some advice on the matter, as I thought that I was doing the right thing by waiting, although I technically have 4 days left on the contract with UP if they were still trading.  I look forward to earliest possible replies to my query.  Thank you in anticipation.

Robin9

@stixman3    What is your actual annual consumption?    Fix Total Service Oct 24 v2   is 27.5p/kWh and 25.09 p/day (in my area)  which implies 14,400 kWh. Do your own sums.

There's a glitch with mine  - I'm being told mine is £2,400 (a MONTH)   - my consumption of  4,600 has somehow become 104,600  !

QrizB

"Fix Total Service Oct24v2" is not your new EDF tariff; is it one you found on a comparison site?

The Supplier of Last Resort (ie. EDF) is not allowed to put you on a tariff with exit fees, and it cannot be higher than Ofgem's cap.

In my region EDF's tariffs are:

• "Fix Total Service Oct24v2" is 24.11p/day plus 27.39p/kWh
• "Standard Variable" is 24.11p/day plus 20.68p/kWh

scunky

stixman3 said:

My contract was due to end with Utility Point (UP) 30/09/2021, but as most are now aware, they have had to cease trading. I also have managed an account with UP for an aunt. Looking for advice online, I was recommended to wait until a designated company would take over UP's customers, leaving my Direct Debit in place, and not to look elsewhere.  This generally was also the advice of Martin Lewis, so I took it on board.

Events have since been moving at a fast pace, and I am wondering if I have made the right decision for my family and my aunt. Today I learned that EDF have taken over UP's customers since 18 September 2021, and it seems that each day prices are rising, despite the so-called "cap".  I am now more concerned having just gone onto EDF's website to view their tarrifs.  To put it into context, my monthly bill last year was £70 per month, or £835 pa. This is what I was just quoted from EDF:

Oct24v2

Fixed until	Exit fees	Monthly personal projection
Fixed until October 2024	Exit fees £200	Your estimated monthly bill £334

£334!!!  This is nearly a 500% price rise!  The e-mail from EDF explained that I would be put on a Standard(variable) rate, but could this not be a higher tarrif?  I wasn't able to find any other tarrif's with my details.  I hope that I am reading things wrongly here, and would really appreciate some advice on the matter, as I thought that I was doing the right thing by waiting, although I technically have 4 days left on the contract with UP if they were still trading.  I look forward to earliest possible replies to my query.  Thank you in anticipation.

"My contract was due to end with Utility Point (UP) 30/09/2021,..."

The early bird catches the worm

As for the second mouse, well after 7 weeks in the summer sun, I'm not at all surprised that the cheese has now turned mouldy.

JJ_Egan

And this is the Oil and LPG part of the forum .

FreeBear

stixman3 said: and it seems that each day prices are rising, despite the so-called "cap".

OFGEM have taken an average usage of the typical household and used this to come up with a price "cap". If you take a closer look at the figures, you will see that it is the actual unit price and standing charge that are capped.

If you use more energy, then you pay more. Conversely, the less you consume, the lower the bill. The OFGEM price cap is not an "all you can eat" cap on bills.

At the moment, standard variable rate tariffs are looking to be a better deal than 1y or 2y fixed deals. Many are recommending holding fast until prices stabilise before jumping to a fixed tariff.

stixman3

FreeBear said:

stixman3 said: and it seems that each day prices are rising, despite the so-called "cap".

OFGEM have taken an average usage of the typical household and used this to come up with a price "cap". If you take a closer look at the figures, you will see that it is the actual unit price and standing charge that are capped.

If you use more energy, then you pay more. Conversely, the less you consume, the lower the bill. The OFGEM price cap is not an "all you can eat" cap on bills.

At the moment, standard variable rate tariffs are looking to be a better deal than 1y or 2y fixed deals. Many are recommending holding fast until prices stabilise before jumping to a fixed tariff.

QrizB said:

"Fix Total Service Oct24v2" is not your new EDF tariff; is it one you found on a comparison site?

The Supplier of Last Resort (ie. EDF) is not allowed to put you on a tariff with exit fees, and it cannot be higher than Ofgem's cap.

In my region EDF's tariffs are:

• "Fix Total Service Oct24v2" is 24.11p/day plus 27.39p/kWh
• "Standard Variable" is 24.11p/day plus 20.68p/kWh

My new tarrif is a Standard Variable one, allegedly. The Fix Total Service Oct24v2 quote was the only tarrif offered on EDF's website I went on last night. I went there to find more about the Standard tarrif, but was only offered to be given a quote by giving all my details; I couldn't find a section with their tarifs.

stixman3

scunky said:

stixman3 said:

My contract was due to end with Utility Point (UP) 30/09/2021, but as most are now aware, they have had to cease trading. I also have managed an account with UP for an aunt. Looking for advice online, I was recommended to wait until a designated company would take over UP's customers, leaving my Direct Debit in place, and not to look elsewhere.  This generally was also the advice of Martin Lewis, so I took it on board.

Events have since been moving at a fast pace, and I am wondering if I have made the right decision for my family and my aunt. Today I learned that EDF have taken over UP's customers since 18 September 2021, and it seems that each day prices are rising, despite the so-called "cap".  I am now more concerned having just gone onto EDF's website to view their tarrifs.  To put it into context, my monthly bill last year was £70 per month, or £835 pa. This is what I was just quoted from EDF:

Oct24v2

Fixed until	Exit fees	Monthly personal projection
Fixed until October 2024	Exit fees £200	Your estimated monthly bill £334

£334!!!  This is nearly a 500% price rise!  The e-mail from EDF explained that I would be put on a Standard(variable) rate, but could this not be a higher tarrif?  I wasn't able to find any other tarrif's with my details.  I hope that I am reading things wrongly here, and would really appreciate some advice on the matter, as I thought that I was doing the right thing by waiting, although I technically have 4 days left on the contract with UP if they were still trading.  I look forward to earliest possible replies to my query.  Thank you in anticipation.

"My contract was due to end with Utility Point (UP) 30/09/2021,..."

The early bird catches the worm

As for the second mouse, well after 7 weeks in the summer sun, I'm not at all surprised that the cheese has now turned mouldy.

Thanks for your input! Hindsight is a wonderful thing. I heeded the warnings, but obviously the wrong ones although I don't know if anyone could have envisaged these kind of increases.

stixman3

JJ_Egan said:

And this is the Oil and LPG part of the forum .

Close enough. I couldn't see Gas and Electricity.

QrizB

stixman3 said:

The Fix Total Service Oct24v2 quote was the only tarrif offered on EDF's website I went on last night. I went there to find more about the Standard tarrif, but was only offered to be given a quote by giving all my details; I couldn't find a section with their tarifs.

Try here:
https://my.edfenergy.com/gas-electricity/tariff-information-labels

dbks

stixman3 said:

My contract was due to end with Utility Point (UP) 30/09/2021, but as most are now aware, they have had to cease trading. I also have managed an account with UP for an aunt. Looking for advice online, I was recommended to wait until a designated company would take over UP's customers, leaving my Direct Debit in place, and not to look elsewhere.  This generally was also the advice of Martin Lewis, so I took it on board.

Events have since been moving at a fast pace, and I am wondering if I have made the right decision for my family and my aunt. Today I learned that EDF have taken over UP's customers since 18 September 2021, and it seems that each day prices are rising, despite the so-called "cap".  I am now more concerned having just gone onto EDF's website to view their tarrifs.  To put it into context, my monthly bill last year was £70 per month, or £835 pa. This is what I was just quoted from EDF:

Oct24v2

Fixed until	Exit fees	Monthly personal projection
Fixed until October 2024	Exit fees £200	Your estimated monthly bill £334

£334!!!  This is nearly a 500% price rise!  The e-mail from EDF explained that I would be put on a Standard(variable) rate, but could this not be a higher tarrif?  I wasn't able to find any other tarrif's with my details.  I hope that I am reading things wrongly here, and would really appreciate some advice on the matter, as I thought that I was doing the right thing by waiting, although I technically have 4 days left on the contract with UP if they were still trading.  I look forward to earliest possible replies to my query.  Thank you in anticipation.

Surely some kind of error.
If UP were charging you about £835 per year, based on a cheap tariff availalble about 12 months ago (so about to end anyway), then that would suggest you are an average user of about 12000kWh pa of gas and 2900kWh of electricity.

When I have just obtained a quote for that, based on the West Midlands supply region, the EDF quote on the tariff you mention says it will cost less than £150pcm.

Not sure how you were quoted £334pcm. Are you comparing apples with apples? Or apples with oranges armchairs?

As requested in the first reply above, what is your actual annual consumption?

Allow me expand on that question a little, please.

What is your annual consumption in kWh for gas?
What is your annual consumption in kWh for electricity?
What was the name of the tariff were you on with Utility Point?
What supply region are you in (or first part of your postcode)?

I too "look forward to earliest possible replies to my query.  Thank you in anticipation."