Scottish Power End Tarrif

lukeyloo1970

Hi.
I have a dual fuel fixed tariff, Exclusive Renewal April 2022 B1, with Scottish Power which ends on 30th April 2022.

Will I automatically go onto a standard variable rate if I don’t fix my tariff?

They have quoted a whopping £960 per month from £216!! 

Thanks in advance.

TheMilkmansDad

Yes, if you do nothing you will go on to the SVR.

Even so, that is a large suggested increase in DD! Out of curiosity, is your account currently in Debit or Credit

lukeyloo1970

Thank you for replying. That’s a relief!

Currently it’s in credit by £170. 

I can’t believe they think they can get away and charge that amount. Over £11000 a year. 

Ultrasonic

lukeyloo1970 said:

They have quoted a whopping £960 per month from £216!! 

My guess is that the quote is for a new fixed tariff rather than the SVT?

pochase

Can you give us the current tariff details for your fixed deal, and what you have used in the last 12 months for electricity and gas?

If you are in credit by 216£ that means you have been billed around 2400£. AN increase of 100% to 150% sounds very likely to me depending how good your fixed deal was

lukeyloo1970

ultrasonic yes it’s for a new fixed tariff.

lukeyloo1970

My last on the 23rd Feb says 39940kwh gas and 6977kwh electric usage in the last 12 months. 

I’m not sure what the tariff is apart from Renewal April 2022 B1.

Ultrasonic

lukeyloo1970 said:

ultrasonic yes it’s for a new fixed tariff.

You can expect the monthly payments on the SVT to be significantly cheaper than your quote then.

Mstty

lukeyloo1970 said:

My last on the 23rd Feb says 39940kwh gas and 6977kwh electric usage in the last 12 months. 

I’m not sure what the tariff is apart from Renewal April 2022 B1.

So when you go to SVT roughly 28p kWh for elec and 7p kWh for gas

All rough you understand as SVT rates will change per region

Elec 28p X 6977 = £1953.56
Gas 7p X 39940 = £2795.89

You have £170 odd in credit so let's forget standing charge 

£396 per month roughly until the next hike in prices in October.

Ultrasonic

lukeyloo1970 said:

My last on the 23rd Feb says 39940kwh gas and 6977kwh electric usage in the last 12 months. 

In case you don't realise, both of those figures are pretty high. The size of your home and how many live in it will be factors but my guess would be there is scope to reduce this if you choose to.

lukeyloo1970

Mstty said:

lukeyloo1970 said:

My last on the 23rd Feb says 39940kwh gas and 6977kwh electric usage in the last 12 months. 

I’m not sure what the tariff is apart from Renewal April 2022 B1.

So when you go to SVT roughly 28p kWh for elec and 7.25 for gas

All rough you understand as SVT rates will change per region

Elec 28p X 6977 = £1953.56
Gas 7p X 39940 = £2795.89

You have £170 odd in credit so let's forget standing charge 

£396 per month roughly until the next hike in prices in October.

Thank you for working that out for me. Much appreciated. 😊

A lot less than £960! But still a lot.