Fixed tariff till 3023

pest1066

Hi new to the forum, I am finding the energy price cap rise slightly confusing can anyone help me out?

I am with octopus and on a fixed tariff untill June 2023 will my tariff go up in April or because it's fixed the rise will not come into play until the fixed tariff ends in 2023?

Seems obvious it shouldn't because it's a fixed contract and should be a rate that they have to abide by but I cannot see anything clearly stating if you are on a fixed tariff running past April next year that your rate won't be affected. Can anyone clarify please?

[Deleted User]

If you are on a fixed tariff then your tariff will not change before the contract end date. 

pest1066

[Deleted User] said:

If you are on a fixed tariff then your tariff will not change before the contract end date. 

Thank you Dolor, seemed obvious but started to get the feeling come April 2022 all logic was out the window in terms of energy prices.

wakeupalarm

Wow!, I wonder what the rate is for buying that far in advance.

Gerry1

Bargain of the century !

daaave

The government might step in and alter existing contracts. There’s lots of talk in government/industry that these are exceptional circumstances etc.

Elmer_BeFuddled

Gerry1 said:

Bargain of the century !

Nay, millenium!

[Deleted User]

daaave said:

The government might step in and alter existing contracts. There’s lots of talk in government/industry that these are exceptional circumstances etc.

Where is this piece of scaremongering coming from? We all have enough to worry about without people speculating that the Government might bring in legislation to allow suppliers to break legally-binding contracts.

razord

daaave said:

The government might step in and alter existing contracts. There’s lots of talk in government/industry that these are exceptional circumstances etc.

The point of fixed contracts is that, based on your usage, the supplier can buy the energy in advance, at the prices industry is offering at the time you sign the fixed contract.

Any company which doesn't do that is literally gambling. That might be why so many small providers have failed, but anyone as big as Octopus should be properly hedging based on what customers sign up to.