Increase if on fixed tariff

Auti

Just checking I have correct thinking about this. I am on a fixed 1 year Tariff until October this year and I am assuming that my daily standing charge will not be affected nor the unit price charged because of the change in price cap this April. Basically I should notice no difference. I have already increased my direct debit so that I can build up credit for when the terror of October price increase comes and plan to add to it when I receive the money from the council tax rebate. Could someone confirm my thinking is correct. Thank you for your help.

Ant555

You will be fine as far as the unit rates and standing charges go as they are the 'fixed' bit of your deal - as long as your supplier stays afloat.

Auti

Thank you - I am with EON so hopefully will be ok

Northern_Wanderer

I don't trust energy companies with my money so am changing to variable whole amount DD in April. I imagine the Big 6 are too big to fail, but who knows.....having to sell energy at less than it costs to buy is hardly a solvent company, is it?

MattMattMattUK

Northern_Wanderer said:

I don't trust energy companies with my money so am changing to variable whole amount DD in April. I imagine the Big 6 are too big to fail, but who knows.....having to sell energy at less than it costs to buy is hardly a solvent company, is it?

It is not a good business model, but it does not make a company insolvent. 

Gerry1

Northern_Wanderer said:

I imagine the Big 6 are too big to fail, but who knows.....

Pan Am, TWA, Woolworths, British Home Stores, Debenhams... and very nearly RBS/NatWest and Bulb.

Mstty

How about rather than giving the energy company your money you buy premium bonds with that money instead until October. That way it's there if you need it and maybe you get a win?

Northern_Wanderer

Gerry1 said:

Northern_Wanderer said:

I imagine the Big 6 are too big to fail, but who knows.....

Pan Am, TWA, Woolworths, British Home Stores, Debenhams... and very nearly RBS/NatWest and Bulb.

I suppose I meant being to big to be "allowed" to fail, in which case they will be propped up by the taxpayer. But by that point our credit £s will be long gone.....and we the public will still have to pay for the losses one way or another.