Warning for ex-Symbio customers

psamuel

Neon Reef selling electricity tarriff which is fixed but far better than the OFGEM CAP?

Ultrasonic

psamuel said:

Neon Reef selling electricity tarriff which is fixed but far better than the OFGEM CAP?

Not fixed I believe. There is also a significant question mark over how long the company may survive...

MWT

Ultrasonic said:

psamuel said:

Neon Reef selling electricity tarriff which is fixed but far better than the OFGEM CAP?

Not fixed I believe. There is also a significant question mark over how long the company may survive...

Their 12 month fix is actually cheaper than their variable tariff right now, highly questionable in my view...

They are also operating a 33% high/low plan on the DD which translates to 6 months at AEC/12+33%, then 6 months at AEC/12-33%.

That part is at least justifiable on the grounds of higher winter bills.

psamuel

Ultrasonic said:

psamuel said:

Neon Reef selling electricity tarriff which is fixed but far better than the OFGEM CAP?

Not fixed I believe. There is also a significant question mark over how long the company may survive...

fixed for 12 months

Reed_Richards

Fixed for 12 months or until Neon Reef goes under; whichever is the sooner.

trumpeter_2

QrizB said:

jimjames said:

trumpeter_2 said:

In my case I did find an offer that easily beat the price Eon Next is quoting. So I stand by the thrust of my original posting.

Thanks for coming back with the update. Out of interest which tariff beats the price cap "easily"? I didn't think any suppliers were selling below that price?

Neon Reef, if I was to guess ...

Yes, I did indeed choose Neon Reef. But I figured that things are bound to vary by area, so I thought it best not to specify in my post. Also there were eight other companies offering better prices than Eon Next/the price cap when I did my comparison!

Redbullmaster

Does any one know what the price cap is as all I can find is the figure £1277.
Does this just mean they can charge you up to £106 a month, but what is this the max in KWH?
Thanks for any info

molerat

Redbullmaster said:

Does any one know what the price cap is as all I can find is the figure £1277.
Does this just mean they can charge you up to £106 a month, but what is this the max in KWH?
Thanks for any info

Default tariff cap level: 1 October 2021 to 31 March 2022

£1277 is not an actual price cap but is the average of the price caps across the regions, is based on 3100 kWh electric and 12000 kWh gas and excludes VAT.  There is a maximum daily charge and a maximum combined charge and the suppliers can play around with those numbers as long as at the specified levels it does not exceed the cap.

QrizB

Redbullmaster said:

Does any one know what the price cap is as all I can find is the figure £1277.
Does this just mean they can charge you up to £106 a month, but what is this the max in KWH?
Thanks for any info

Here's a short thread on the topic:

https://forums.moneysavingexpert.com/discussion/6302364/standard-variable-tariff-svt

Or, if you prefer, a fairly long one:

https://forums.moneysavingexpert.com/discussion/6299083/understanding-ofgem-price-cap

badmemory

If you google the price cap you can get the figures for your area.  For mine the gas standing charge is 26.1p/day & 4.04p/k and electricity is standing charge 24.4p/day & 20.14p/k  all plus VAT.  Now to choose between the heating & a hot water bottle.