Energy price increases

Bunnion

My current fixed price tariff with Shell Energy ends on March 31 2022 and like all energy companies at this time they are only offering variable tariffs for the foreseeable future.
They have offered me 'Shell Flexible 6' single rate with prices of:

Gas: Unit Rate 4.047 pkwh
Standing Charge: 26.11 per day

Electricity: Unit Rate 20.11 pkwh
Standing Charge 25.08 per day.
NO Smart Meter required.

My query is, is this a competitive price considering how volatile the market is now.
I would prefer to stick with my current supplier but am quite willing to change for a better offer.
Are there any about?

Thanks in advance.

Gerry1

Those are today's Standard Variable Tariff prices.  They also end on 31 March so you can forget them.  The new capped prices will be very similar to these.

EDF Deemed Tariff

You can try to find a fixed rate that may be better than the capped rates after 1 October but whatever you do will be a gamble because nobody knows what the October rates will be, or even whether the April cap will last that long.

Ultrasonic

Bunnion said:

...like all energy companies at this time they are only offering variable tariffs for the foreseeable future.

I think Shell are actually somewhat unusual in not offering fixed deals right now, but the fixed deals that are being offered are very expensive so you aren't necessarily missing out there. 

prone2accidents

I'm with OVO and have a fixed Tarriff which OVO have said is dearer than the variable but if the variable is only going 1 way I'm happy with fixed. I pay £178 a month and have smart meters which are read every half day or so. I check my account and although OVO run their bills from the start to end of the month my payment comes out on the 15th when me and the wife get paid. I have been told by OVO I need to up my DD by £103 a month or will end up owing them but have stuck to my guns as they only want all our accounts a month in credit. I pay any shortfall and last months was £34.45 so that's £69 different than OVO scary messages and forced DD increases.

Fixed tariff and track it regular and you will be fine.

pochase

You are aware that it is summer with low energy use? If you are short by £34.45  in summer you can expect to be short by a lot more in winter. 

This looks to me as if the direct debit increase requested is not at all unreasonable at all. In summer you need to build up a credit for winter, not have a debt to pay off monthly already.

comeandgo

If you need to pay that amount over your direct debit amount at this time of year then you are seriously under paying.

TheMilkmansDad

Suggest you start paying the increased DD otherwise you'll be in for a shock in the winter!

By doing what you are doing you should switch to a variable DD (pay what you use in the month) if OVO have the option. So based on your number last months bill was approx. £215, peak winter usage would be maybe 3 times that so make sure you budget accordingly.

Mstty

The only thing that will help is the £400 being added to your electricity account from October, current thinking is this will be six monthly payments of £66.67.

Factor that in when agreeing any increase especially if you know for certain your winter energy usage habits.