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My price increase from £209 and quotes £

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My energy price fix finishes on the 31st of May 2022. I’ve just clicked on for a quote for my new energy costs from May 31 and it has gone up to £655 per month from £209 per month. What can I do as I cannot afford this. Please can someone help and advise me
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  • brewerdave
    brewerdave Posts: 8,720 Forumite
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    Woody0106 said:
    My energy price fix finishes on the 31st of May 2022. I’ve just clicked on for a quote for my new energy costs from May 31 and it has gone up to £655 per month from £209 per month. What can I do as I cannot afford this. Please can someone help and advise me
    You need to look at actual tariff rates. Highly probable that your supplier is "offering" you a very expensive fixed deal rather than defaulting you on to the capped standard variable tariff, which will happen if you do nothing.
  • I’ve looked at other suppliers but just getting the same message that they can’t switch me at this time
  • Robin9
    Robin9 Posts: 12,796 Forumite
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    What is your actual annual consumption please - in KWhs not £s.  Read your meters today and look back at your old bills and find some actual (not estimated) readings of about 12 months ago.

    On face value you are a high user.

    If that £209 is correct and does not include paying for any old debt you need to budget for that doubling on the variable tariff.
    Never pay on an estimated bill. Always read and understand your bill
  • I have tried to get quotes but not getting anywhere and just not sure what I can do
  • MWT
    MWT Posts: 10,273 Forumite
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    edited 29 March 2022 at 9:28AM
    Woody0106 said:
    My energy price fix finishes on the 31st of May 2022. I’ve just clicked on for a quote for my new energy costs from May 31 and it has gone up to £655 per month from £209 per month. What can I do as I cannot afford this. Please can someone help and advise me
    We can be more helpful if you want to tell us which supplier it is and which tariffs you have been offered, along with the rates (kWh/Standing charge).
    If you are currently on a fixed tariff your supplier is obliged by Ofgem to offer you the current cheapest fixed tariff but there should also be a mention of the 'do nothing' option to drop onto the standard capped variable tariff.

  • MattMattMattUK
    MattMattMattUK Posts: 11,219 Forumite
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    Stop trying to get on a fixed tariff, just roll onto the SVT, it is the cheapest option available to you. All you need to do is to do nothing.
  • pochase
    pochase Posts: 3,449 Forumite
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    Can you please give as your consumption figures as requested by @Robin9 for the last 12 months? Can you please also let us know what region you are in and who your supplier is.

    Coming of a fix your cost for electricity is likely to almost double, and for gas almost to treble, depending how good your fix was. From you consumption figures we will be able to calculate what the cost will be on the new SVT you are going to be put on after your fix ends.

    Going onto a new fix rate will most likely not advisable at the moment, and you will not be able to switch suppliers going onto their SVT as they will not take you.
  • jimjames
    jimjames Posts: 18,678 Forumite
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    Woody0106 said:
    I’ve looked at other suppliers but just getting the same message that they can’t switch me at this time
    You can't really switch at the moment as almost no suppliers are taking new customers. Compare the default standard variable tariff and you should find it is much cheaper than any fixed one you're being offered
    Remember the saying: if it looks too good to be true it almost certainly is.
  • Mstty
    Mstty Posts: 4,209 Forumite
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    This is the problem a lot of people don't understand that the energy companies are trying to con them into an expensive fixed tariff rather than being upfront and saying just let it roll over to the standard variable tariff which is cheaper.

    I suggest you call your current supplier and ask them what your direct debit will be when your current fixed deal ends and you go on their standard Variable Tariff.

    It will still be higher than you are paying now it might even be double but hopefully nor triple as you are being quoted elsewhere

  • MWT
    MWT Posts: 10,273 Forumite
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    edited 29 March 2022 at 1:23PM
    Mstty said:
    This is the problem a lot of people don't understand that the energy companies are trying to con them into an expensive fixed tariff rather than being upfront and saying just let it roll over to the standard variable tariff which is cheaper.

    I'm sure there are some out there that are not being as clear as they could be, but for the most part the emails people are getting are in a format required by Ofgem which forces them to respect the type of product the customer currently has when giving them their cheapest renewal options.
    If a customer is on a fix, they must give the customer details of the cheapest fix available, and they must also give them details of the cheapest tariff available regardless of type, so the SVT.
    Unfortunately many are now so used to the fix also being the cheapest, they don't read the whole email even when it makes it abundantly clear that variable is the cheapest.
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