Standard Variable Tariff(SVT)
I think most of us are aware that on 01 Oct 2021 that the capped SVT increased to £1277pa.
That is below the cost of current wholesale prices, however some firms had placed 'future contracts'. But it seems highly likely that the capped SVT will be increased considerably in April next year.
There has been considerable speculation that with the huge charges for new fixed tariffs, the SVT is the cheapest tariff; and those with a fixed tariff expiring soon should simply allow their present company to switch them to their SVT.
I have been trying, without success, to find out exactly how the charges on an SVT are calculated.
The Ofgem website simply states that the £1277pa SVT is based on the ‘average user consumption.’
However what is ‘average user consumption’? For those on dual fuel it used to be 3,100kWh electricity and 12,500kWh gas but it could be any combination of gas and electricity consumption, or all electric. However all companies must have a kWh charge and Daily Standard Charge(DSC)for gas and electricity(depending on area)
Understandably it seems no energy company will put a new customer on their SVT and the comparison networks are not working. So it seems impossible to find out the unit charges.
I am with OVO in Midlands and can’t get the SVT charges from that firm.
Anyone on an SVT who can state their charges?