My energy bill going up by over 100%

Jedigirl70

I am a below average energy user. Annual bill around £1150 or around £80 a month for duel fuel with Scottish Power. If the price increase is 54% or around £700 a year why is my new tarrif set at £185 a month? Over double what I pay now… and an annual increase of £1200. Can anyone explain? I’m out of the house for around 12 hours a day as well! 

Verdigris

Direct debit payments are meaningless. What is you annual consumption, in kWh, for gas and electric? What is the unit price and standing charge you currently pay?

400ixl

Are you currently on a fixed deal coming to an end?

lisyloo

We’re you on a good deal before.
the price cap has gone up 54%

Those who were on excellent deals may see even bigger rises than that when they end.

Jedigirl70

400ixl said:

Are you currently on a fixed deal coming to an end?

Yes, in April 

Exodi

So there is the 'standard variable' rate - which is essentially what people would pay if there they are not in some sort of fixed/promotional deal. Savvy shoppers would typically lock in a new fixed deal every time their old one expired and I'm assuming you are currently in a fixed term deal with Scottish Power now.

Effectively, the price cap is increasing the 'standard variable' rate by 54% - meaning customers who are currently on the standard rate would see their bills increase by up to 54%.

Those who are on super cheap fixed term deals (myself included) will see an increase far greater than this because we are going from a 'cheap-promo-fixed price' straight to standard rate. From what I've heard, there are no cheap fixed deals floating about either.

Hope that makes sense.

razord

Jedigirl70 said:

400ixl said:

Are you currently on a fixed deal coming to an end?

Yes, in April 

Unfortunately, they're probably quoting you the current tariff then... so come April, it will actually be even higher than what's listed there as the Standard Variable Tariff.

QrizB

razord said:

Jedigirl70 said:

400ixl said:

Are you currently on a fixed deal coming to an end?

Yes, in April 

Unfortunately, they're probably quoting you the current tariff then... so come April, it will actually be even higher than what's listed there as the Standard Variable Tariff.

Worse, they might be offering Jedgirl70 new fixed-rate deals that are more expensive than the standard variable tariff.

@Jedgirl70 can you tell us the name of the tariff that's been offered at £185/month? And the rates?

Jedigirl70

QrizB said:

razord said:

Jedigirl70 said:

400ixl said:

Are you currently on a fixed deal coming to an end?

Yes, in April 

Unfortunately, they're probably quoting you the current tariff then... so come April, it will actually be even higher than what's listed there as the Standard Variable Tariff.

Worse, they might be offering Jedgirl70 new fixed-rate deals that are more expensive than the standard variable tariff.

@Jedgirl70 can you tell us the name of the tariff that's been offered at £185/month? And the rates?

It’s 1 year fixed price energy May 2023 M1

Elec standing charge is 24.11p and unit price 37p

Gaa is 26.11p standing charge and 10.42 unit price 

emmajones1976

Ha, there is no way you want to agree to that!

Verdigris

The SVT is far cheaper than that tariff.