New energy deal

johnboy13

Moving home tomorrow so need a new energy company, do I fix or price cap. I know how to fix but what does price cap actually mean? 

QrizB

johnboy13 said:

Moving home tomorrow so need a new energy company, do I fix or price cap. I know how to fix but what does price cap actually mean? 

When you move in you'll automatically have a contract with the expsting supplier, paying their deemed (capped variable) tariff.

How the price cap works is explained in detail by Martin and the MSE teasm in this post:
https://forums.moneysavingexpert.com/discussion/6337769/energy-prices-your-questions-answered-martins-latest-video

Ultrasonic

As above, plus I'd probably stick to the deemed (capped) tariff in your position since you won't have a clue about what your typical energy consumption would be to begin to judge if a fixed tariff would be good for you or not.

I hope the move goes smoothly and that you enjoy your new home  .

jbuchanangb

You don't "need" a new energy company. You will "have" a new energy company, whichever already supplies the property. Read the meters, call them up and open an account. Insist on the the deemed standard variable rate tariff. If gas and electricity are supplied by different suppliers you need to do them separately. Don't forget the water and the council tax as well. 

EssexHebridean

Congratulations on your new home!

When contacting the supplier be warned that some are trying to give the impression that you "have" to take an expensive fixed rate - you don't! If they insist - remind them that Ofgem say you're quite entitled to simply go onto the variable rate, and ask why exactly are they insisting that ofgem are wrong...  

Farway

And remeber to take meter reading photos at your old and new address, this could save you months of hassle later if any problems arise