£350 coming from the government, is the fixing worthless now?

Andrea15

I accepted a fix with So Energy (but I am still well within my cancellation rights), but now I think it is not worth having, is it. The £200 will hav to be repaid anyway, so might as well take advantage if it, rather than pay it twice.

What do you think, time to bin the fix? I would say so, unless they come up with something drastically better.

EDIT:
The fix is pretty much level with the new cap.

MattMattMattUK

Andrea15 said:

I accepted a fix with So Energy (but I am still well within my cancellation rights), but now I think it is not worth having, is it. The £200 will hav to be repaid anyway, so might as well take advantage if it, rather than pay it twice.

What do you think, time to bin the fix? I would say so, unless they come up with something drastically better.

The £200 will be some form of rebate/credit, the £150 will be knocked off your council tax. Both are going to cost a lot more in the long run so are a total waste of time, but the stupid people will love it.

emmajones1976

Andrea15 said:

I accepted a fix with So Energy (but I am still well within my cancellation rights), but now I think it is not worth having, is it. The £200 will hav to be repaid anyway, so might as well take advantage if it, rather than pay it twice.

What do you think, time to bin the fix? I would say so, unless they come up with something drastically better.

EVERYONE gets the £200 off, not just people on the capped rate. Have you taken that into account?

Andrea15

OK, make me understand, is the £200 money in the bank for you to spend as you see fit or money taken out of the bill? In other words, I assumed that the bills would be discounted at source, unless you are with fix rate. Did I misunderstand it?

fiddlesticks0

a 12% rise last Oct, a 54% rise this April, I doubt things are going to look much better for any increase next Oct and that's assuming there's no war in Ukraine - if that does happen heaven help us. Martin Lewis said he's crunching the numbers for his show on ITV tonight.
 

emmajones1976

Andrea15 said:

OK, make me understand, is the £200 money in the bank for you to spend as you see fit or money taken out of the bill? In other words, I assumed that the bills would be discounted at source, unless you are with fix rate. Did I misunderstand it?

I assume it will be a £200 credit applied to peoples accounts. Everyones accounts. Regardless of what rate you are currently on.

Astria

Andrea15 said:

OK, make me understand, is the £200 money in the bank for you to spend as you see fit or money taken out of the bill? In other words, I assumed that the bills would be discounted at source, unless you are with fix rate. Did I misunderstand it?

Yes, "You'll get an automatic £200 discount on your bills, regardless of what tariff you're on."

emmajones1976

A lot of people clearly think this will only apply to the capped rate and will be trying to bail out of fixes.

fiddlesticks0

emmajones1976 said:

Andrea15 said:

OK, make me understand, is the £200 money in the bank for you to spend as you see fit or money taken out of the bill? In other words, I assumed that the bills would be discounted at source, unless you are with fix rate. Did I misunderstand it?

I assume it will be a £200 credit applied to peoples accounts. Everyones accounts. Regardless of what rate you are currently on.

It's not a 'refund' as Sunak described it either way, it's a loan to be paid back in full over 5 years. 

[Deleted User]

emmajones1976 said:

A lot of people clearly think this will only apply to the capped rate and will be trying to bail out of fixes.

There needs to more clarity but as far as I can see it is nothing more than a loan of £200 to help people pay their bills irrespective of usage or tariff. It is fair in the sense that suppliers will add £3.33 per month to bills for 4 years to recover the loan. The cost to the Government will just be lost interest.

emmajones1976

Dolor said:

emmajones1976 said:

A lot of people clearly think this will only apply to the capped rate and will be trying to bail out of fixes.

There needs to more clarity but as far as I can see it is nothing more than a loan of £200 to help people pay their bills irrespective of usage or tariff. It is fair in the sense that suppliers will add £3.33 per month to bills for 4 years to recover the loan. The cost to the Government will just be lost interest.

I dont disagree. The point I was trying to make to the OP is that it applies to EVERYONE, no matter what the tariff.