Renew So energy fixed tariff?

glastowinebar

I have a few days to renew my fixed tariff with so energy, I only use electricity with them and no gas ( I have oil fired central heating) … they have quoted £84 per month. I currently pay £32 for summer rates and £55 for winter which they say evens itself out over a year…
do I  go for it? 

bristolleedsfan

glastowinebar said:

I have a few days to renew my fixed tariff with so energy, I only use electricity with them and no gas ( I have oil fired central heating) … they have quoted £84 per month. I currently pay £32 for summer rates and £55 for winter which they say evens itself out over a year…
do I  go for it? 

Best to compare unit rates of fixed tariff renewal with So Energy SVR tariff you will roll onto if you do not do anything, the latter for most people will be the best option this winter and maybe beyond being as So Energy fixed rates are not competitive - My region, SVR kwh rate is 10pkwh cheaper than 12 month fixed rate with So Energy

Electricity standing charge (p/day)	24.38
Electricity unit rate (p/kWh)	30.33

2 year fix a little cheaper, has £30 exit fee

glastowinebar

Thanks for that, I’ll look into comparing the SVR 👍

glastowinebar

I can’t find So Energy SVR… anyone got a link please

bristolleedsfan

glastowinebar said:

I can’t find So Energy SVR… anyone got a link please

https://www.so.energy/so-out-of-contract-tariff/ SVR you will gain until April, from April - 30 September 2022 probably gain as well, most important factor I think is you would be free to shop around at any time if/when wholesale prices reduce as they are expected to do Summer 2022 without exit fees whereas SO Energy fixed rates have exit fees

2 year fixed kwh rate my region 26.890p per kWh compared with SVR 20.14P per kWh

jbuchanangb

One way to find out is to log onto Cheap Energy Club (or other price comparison site) and pick So Energy as your current supplier, and enter "So Flex" as your current tariff. If you do nothing with So Energy, i.e. do not sign up to a new fixed term tariff, this is what they should put you on. The price comparison site will tell you the unit rates and standing charges for that tariff and compare that with other rates that are being offered by other suppliers at the moment. Hardly any suppliers are allowing people to switch to their Standard Variable Rate at the moment.
Also you could look here

JJ_Egan

As above its 84 for what  amount of electricity ??

matelodave

The general consensus is to just let it rollover onto the SVR as it should be capped at around 21p/kw and 24p standing charge until next April, so should see you through the winter when you most likely use the most.

As said above, you'll then have the option of see whether the market has sorted it'self out a bit and you'll be able to move suppliers without incurring the early termination charge.

Look at what you use in kwh and what they are charging per kwh and do your own sums rather than just relying on the monthly DD figure from the supplier.

Dogbyte009

glastowinebar said:

I can’t find So Energy SVR… anyone got a link please

The So renewal screen should show it along with the one and two year fixes.