Never been on a variable tariff before-help!

MrsLewis2000

Looking for some advice please. I'm really worried about getting into energy debt, been there before and so I'd rather know exactly what I need to pay each month. That's why I've always been on a fixed tariff and I knew exactly what my standing charge rate and unit rates were for my gas and electric. I took meter readings every week and popped all this into a spreadsheet I created. This allowed me to work out pretty much to the penny what my bill world be each month. If my direct debit was short, for example, the DD was £85 but I'd worked out I'd used £90, if pay the difference immediately so as not to every end up in energy debt. I've taken readings for years and so know how much I generally use each year. I always set my direct debit to cover what I thought I'd use over the year even when the energy company said I could reduce it so I've always been in credit. 
I was with avro with approx £300 in credit. I'm now with octopus on their flexible octopus tariff but I haven't received my personal standing charge/unit rates yet (understandably as they are super busy) I know I'll get them soon.

My questions are how often can the unit/standing rates change on a variable tariff? Will it still be possible for me to work out each month what my bill will be to make sure that my DD covers what I actually use of the rates can change at any moment? 

Hope this makes sense, any help gratefully appreciated.

JGB1955

Ofgem rules state your supplier must give 30 days’ notice if it plans to put prices up, so you'll always have advance notice and be able to plan accordingly.

MrsLewis2000

JGB1955 said:

Ofgem rules state your supplier must give 30 days’ notice if it plans to put prices up, so you'll always have advance notice and be able to plan accordingly.

Thank you for your quick response. So in theory my rates could change every 30 days but l can adjust my spreadsheet with the new rates to work out my bill. Sounds not too bad. At least I can retain a measure of control with my finances 😊

[Deleted User]

What variable tariff are you on? If it is the Ofgem capped variable tariff then to all intents and purposes it is fixed until the 31st March 2022.

MWT

MrsLewis2000 said:

I was with avro with approx £300 in credit. I'm now with octopus on their flexible octopus tariff but I haven't received my personal standing charge/unit rates yet (understandably as they are super busy) I know I'll get them soon.

Then you are pretty much safe from changes for the next 6 months.

wittynamegoeshere

Beyond the possible price rise next April, most people's use will be fairly low anyway as it will be spring/summer.  There really isn't a huge amount of risk in being on a "variable" tariff right now, especially as the extra you need to pay for a fixed one will be £100s, or even well over £1000 in some cases.

MrsLewis2000

Dolor said:

What variable tariff are you on? If it is the Ofgem capped variable tariff then to all intents and purposes it is fixed until the 31st March 2022.

That's a good point. It's the Flexible Octopus tariff, I'm not sure which rates as octopus are still in the process of telling customers their individual rates. 

[Deleted User]

Hi,

MrsLewis you seem to be doing all the right things supplying regular readings and using spreadsheet to keep your eye on things before it gets out of hand.

Well done.

Tokmon

[Deleted User] said:

Hi,

MrsLewis you seem to be doing all the right things supplying regular readings and using spreadsheet to keep your eye on things before it gets out of hand.

Well done.

I completely agree with this.

So many posts on here are from people who stick their head in the sand so it's definitely worth praising when someone comes on here and is doing it right! (much better than just "right" in fact considering a spreadsheet is being used).