Fixed Electricity Deal Ending. Unsure of what Scottish Power say and what the best advice might be.

Reptech

I am an Economy 7 user with no gas and my fixed deal with Scottish Power will end shortly. Annual usage is in the 12000 kWh night and 6000 kWh day region. Scottish Power's best deal is around a third more expensive on the day rate and around 10% more nightly.

There are some deals around from other (large) companies that are very little more than I am currently paying but this would mean fixing for two years and also if I go ahead now having to pay a £30 exit fee.

I specifically asked Scottish Power what would happen if I do nothing and what tariff and rates I would roll over to and I was told "we do not have standard tariff anymore" and "you will be moved to receipt cash monthly payment plan under a fixed tariff" whatever that means. No costs and rates were provided.

So I am unsure what to do and whether to fix now at what is currently a fair deal with another provider.

Also, is what Scottish Power say correct? I was under the impression that if a consumer did nothing then they rolled onto a price capped rate, something Scottish Power say will not happen.

Thanks for reading and for any thoughts. 

t0rt0ise

You say your fixed deal is ending shortly. When exactly?  as you can move without paying an exit fee from 49 days before the end.

niktheguru

prices as you know have shot up massively in the last 6 months.
You will likely go on a standard variable rate tariff on the price cap when your deal ends.
If you have found other "deals" that are not much more expensive than your current deal it is likely your current deal wasn't particularly competitive to start with.

Must say having looked at scottish powers website, they aren't the most transparent about what tariffs people will be moved to, and the tariff pages just go round in circles and just ask you to do a quote.

https://community.scottishpower.co.uk/t5/Our-tariffs/Current-Customers-Tariff-Ending/ta-p/61

Might be worth seeing what it says in "your account" and contacting them again.

MWT

Reptech said:

I specifically asked Scottish Power what would happen if I do nothing and what tariff and rates I would roll over to and I was told "we do not have standard tariff anymore" and "you will be moved to receipt cash monthly payment plan under a fixed tariff" whatever that means. No costs and rates were provided.

That does not make any sense at all, and is almost certainly incorrect.

I'd be inclined to phone again and see if a different agent can give you a more accurate answer as you should drop onto their standard variable rate, even though it may not be something that they are offering to new customers right now...

Reptech

Thanks for the replies folks. The deal is up at the end of December and so mid November would be the earliest I could avoid the £30 exit fee.

I'm currently paying 18.48p daytime rate and 8.48p night time with a standing charge of 35.4p per day. Scottish Power's best fixed deal that I can switch to now would see the daytime rate jump to almost 32p and the night 10.09p 

A typical deal from another supplier is 21.9 day and 10.06 night with a 24p standing charge. The deal would run for two years though.

One thing I can't find any info on is what happens to night time rates on a capped tariff.

I might actually write/email them as that could get a more comprehensive answer as I agree that what they told me sounds incorrect.   

QrizB

Reptech said:

One thing I can't find any info on is what happens to night time rates on a capped tariff.

It's not entirely sttraightforward but this Ofgem document (and the supporting references) explains how it works. In essence there's a cap for the standing charge, plus a maximum cost for a certain amount of electricity with a specific day/night split. Exactly how the supplier decides to price the dayunits vs. the night units is up to them.

jbuchanangb

Best is not to agree to anything they invite you to switch to. When your present fix expires, they are obliged to transfer you to their Standard Variable Tariff, whatever that is called. In 2018 when I was on that tariff it was called "Standard - Quarterly Cash"

Reptech

I've sent them an email asking for clarification on what will happen and also asking what the price capped E7 rate would be. The automated acknowledgment says 'up to 5 working days' for an answer but I'll keep this thread updated as and when I find anything more out.

Reptech

Scottish Power responded promptly and advised me that I would transfer automatically to what they refer to as "Price Secure and Basic Fixed tariffs". Also mentioned was their "Standard Variable tariff" which is in some cases used as a default tariff. 

That is a bit confusing in itself. So two possible scenarios.

As was mentioned by niktheguru actually finding out prices for all these on the website is pretty much impossible and so I still do not know what the prices charged currently are. And that is what I want to know.

In fact the letter they have sent is pretty much a copy of parts of this:

(site won't allow newbies to post links. Prefix with usual h t t p s etc )

community.scottishpower.co.uk/t5/Our-tariffs/Standard-Variable-Tariff-Price-Cap-FAQs/ta-p/5699

So what the tariff rates are is the next thing to try and search out. In particular I just want to know what the E7 rate would be. It should not be this difficult.

Fairzo

Reptech said:

A typical deal from another supplier is 21.9 day and 10.06 night with a 24p standing charge. The deal would run for two years though.

That sounds pretty good under present circumstances. Which supplier and is there an exit fee?

Reptech

It is of all companies British Gas and I actually found at least four tariffs from them that were similar. 

As to Scottish Power and although there is no exit fee if I swap between their plans (£30 if I go elsewhere) there two year fixed deals have no exit fees while the one year deal does. That seems mad because they are similar apart from that.

So this is one of several. I was seriously considering whether taking the £30 hit on exiting Scot Power might be worth it to fix a new deal. Still thinking... I've also re emailed Scot Power for clarification on exactly what the tariffs they mentioned would come in at.