My Tariff Ends In Mar 22' And The Fixed Tariff Options Are Horrendous

warrensean

Hi all,

I am with EDF and was wondering if anyone could advise me with my gas and electric tariff. My current tariff is £86.50pm and I'm in credit. My fixed tariff options look horrendous due to the energy crisis. The fixed tariff options are priced between £239pm - £218pm and my standard variable option is £115pm. Does anyone know the ins and outs of going on a fixed tariff or standard variable. 

I know no one has a magic crystal ball to rub but if anyone has some good insight and advice on what to do it would be much appreciated!

Thanks!

Verdigris

I'd go onto the SVT for the time being. Things may start to become clearer after the April cap comes into effect.

You really need to use your actual kWh consumption figures for comparison purposes. Direct Debit payments are relatively meaningless.

warrensean

Verdigris said:

I'd go onto the SVT for the time being. Things may start to become clearer after the April cap comes into effect.

You really need to use your actual kWh consumption figures for comparison purposes. Direct Debit payments are relatively meaningless.

Thanks for the advice. 

My kWh consumption between 15 Apr - 12 Oct 21' below.

Electricity: 980kWh
Gas: 3751kWh 
Total charges for this period: £311.61 

My workings out show I'm using £51.93pm here? That correct?

QrizB

warrensean said:

My kWh consumption between 15 Apr - 12 Oct 21' below.
Electricity: 980kWh
Gas: 3751kWh 
Total charges for this period: £311.61 
My workings out show I'm using £51.93pm here? That correct?

Yes, roughly £52/month.

But that's the "warm" 6 months. Do you know your annual consumption?

For the same period and usage, on the forthcoming April Ofgem cap, you would expect to pay around £690, £115/month.

warrensean

QrizB said:

warrensean said:

My kWh consumption between 15 Apr - 12 Oct 21' below.
Electricity: 980kWh
Gas: 3751kWh 
Total charges for this period: £311.61 
My workings out show I'm using £51.93pm here? That correct?

Yes, roughly £52/month.

But that's the "warm" 6 months. Do you know your annual consumption?

For the same period and usage, on the forthcoming April Ofgem cap, you would expect to pay around £690, £115/month.

I couldn't find it on my bill but I've spoken to EDF on live chat and they said my annual consumption for Electricity is 2120KWH and for Gas it is 18141KWH. I've tried to work this out with the current KWH rate on my latest bill.

kWh rate for electricity is 13.74p
kWh rate for gas is 2.44p

Electricity - 2120kWh = £291.28
Standing charge for 365 days - 19.50p per day = £71.17
Total = £362.45

Gas - 18141 kWh = £442.64
Standing charge for 365 days - 19.50p per day = £71.17
Total = £513.81

TOTAL = £876.26
Average monthly usage is £73.02.

Are these workings out correct? 

Verdigris

That looks right. With your relatively high gas consumption you are going to be in for a shock, I'm afraid. The unit price will be 3 times your fixed rate, after April 1st, on the SVT and the DC will be about 27p.

As your gas is well above average, and your leccy is a bit below, I'd be looking for the best fix on gas. My feeling is that more attractive deals will become available when the heating season is over, but I'm by no means infallible!

It would be prudent to see why you gas is relatively high. Can you turn the thermostat down a couple of degrees? Could your insualtion be improved? Have you got an old banger of a boiler that may only be 60% efficient, comapred to around 90% for a condensing boiler?

Gerry1

warrensean said:

Are these workings out correct? 

Two potential pitfalls.

1. You need actual annual kWh usage, derived from actual meter readings: energy company estimates are often way out.  If you have been giving monthly readings then just subtract the electricity reading a year ago from the latest reading.  For gas, add up the kWh usage figures for 12 months' worth of bills.  If you don't have all the bills, find two meter readings 12 months apart, subtract the older volume reading from the newer (ft3 or m3) and convert to kWh here (scroll down).  The Calorific Value varies a bit, but using the default will be close enough.

2.  Make sure 5% VAT is included.  The kWh and daily charge rates shown on the bill will need to have 5% added.