Scottish Power - Super Saver May 2022 B3

skyking_comms

I've been informed by Scottish Power that my current Super Saver May 2022 B3 will end on May 31st. So still some time to go and I have no plan to change until the very end. But after that do I look for another fixed rate or should I move onto whatever is their standard tariff?

Obviously like everyone else the price hike in April is of concern to my families finances, so want to plan ahead.  

Thank you

bristolleedsfan

skyking_comms said:

I've been informed by Scottish Power that my current Super Saver May 2022 B3 will end on May 31st. So still some time to go and I have no plan to change until the very end. But after that do I look for another fixed rate or should I move onto whatever is their standard tariff?

Obviously like everyone else the price hike in April is of concern to my families finances, so want to plan ahead.  

Thank you

Have SP offered you a new fixed rate tariff, if yes what rates have they offered ????

skyking_comms

SP offered a 1 year fixed rate at £364.70 a month (£4376.38 for the year) - which is a significant jump from the £89 a month I pay now! Even at £89 I'm in credit throughout the year..

Not sure who will be able to afford these extortionate prices!

[Deleted User]

Hi
So what are the unit rates of this new deal? 
The direct debit amounts your showing aren't much use. 
You need to check the new tarrifs against the 1st April 2022 standard variable rates.
I got a not so bad offer from Scottish Power 10 weeks before my April 2022 fix ended. It was another fix until April 2023. I procrastinated about it but I decided in the end to swap to the new fix 6 weeks early as it was quite below the April 1st price cap.  I was told by Scottish Power the fixes offered are on a first come first serve basis and they can withdraw them at any time.
I'd check the fix they've offered you to see whether it's a good one or not. 

skyking_comms

Within the short time of finding out the new tariff to just checking again the monthly direct debit has increased to £387.40 per  month! This is crazy. That's an increase of £3580.80 per year!

The new SP tariff is called Fixed Price May 2023 M3 
Electric - Standing charge = 48.12p & Primary unit rate = 55.52p
Gas - Standing charge 27.22p & Primary unit rate = 18.93p

I do worry that there's a breaking point going to happen or people just won't have electric and gas turned on in their homes 

[Deleted User]

There may someone on here that can give you the cap details for your area.
I'm no expect but that seems to be expensive and quite above the price cap.
The prices are changing daily.
It maybe a case of you waiting until your May 2022 fix ends now and then you'll be put onto Scottish powers standard variable. As there's not likely to be anything cheaper now.
Most companies aren't quoting for new customers and comparison sites werent either.
I'm on Economy 7.
Fixed until April 2023
Night rate 16.90
Day rate 34.30
Standing daily charge 23.29
There was another fix for June 2023 but I wasn't offered it and that was cheaper. I swapped out of my old April 2022 fix 6 weeks early to grab this one.

[Deleted User]

If you're on Facebook this is a great group to join. I've learnt a lot in the past month about energy.
https://www.facebook.com/groups/966754150512356/?ref=share

Ultrasonic

skyking_comms said:

Within the short time of finding out the new tariff to just checking again the monthly direct debit has increased to £387.40 per  month! This is crazy. That's an increase of £3580.80 per year!

The new SP tariff is called Fixed Price May 2023 M3 
Electric - Standing charge = 48.12p & Primary unit rate = 55.52p
Gas - Standing charge 27.22p & Primary unit rate = 18.93p

I do worry that there's a breaking point going to happen or people just won't have electric and gas turned on in their homes 

If you look at the terms I think you'll find they give Scottish Power the right to end the 'fix' any time they choose with 42 days notice. If so I wouldn't take a chance on this personally but rather would stick to the variable rate at the price cap. It's an expensive fix, and if it happened to end up working out notably cheaper long term there would seem a decent chance SP would simply end the contract early.

QrizB

skyking_comms said:

The new SP tariff is called Fixed Price May 2023 M3 
Electric - Standing charge = 48.12p & Primary unit rate = 55.52p
Gas - Standing charge 27.22p & Primary unit rate = 18.93p

Those prices are "go away and don't bother us" prices.

Or possibly "if you don't read the small print we'll take you for an arm and a leg" prices.

WillPS

I'd be doing nothing with an offer like that. I don't expect the price cap will be allowed to rise that high - there's an election due in 2 years.

Ultrasonic

WillPS said:

I'd be doing nothing with an offer like that. I don't expect the price cap will be allowed to rise that high - there's an election due in 2 years.

If the alternative is all of the energy suppliers going bust there may be no choice.