gas and elec

Florida22

i currently pay by 3 monthly billing and do not want to change this    our fixed rate deal ends the end of may   we currently pay   £1300 per year for both fuels combined    scottish power have e mailed me saying there best fixed price deal is £4267 for next year    should i just transfer to standard variable  with my usual 3 monthly meter readings

dunstonh

Welcome to the oil, LPG and alternative fuels section.  Gas & Electric is handled in the energy forum. So, you will get fewer responses here.

Are you currently paying the correct amount for your usage?  (or is it estimated and not accurate)
Is the projected monetary amount of the fixed deal based on actual usage? (or is it on estimates)

The expectation is that October will see further rises in the cost of gas & electricity.

Florida22

it is correct i give 3 monthly readings

QrizB

Florida22 said:

i currently pay by 3 monthly billing and do not want to change this    our fixed rate deal ends the end of may   we currently pay   £1300 per year for both fuels combined    scottish power have e mailed me saying there best fixed price deal is £4267 for next year    should i just transfer to standard variable  with my usual 3 monthly meter readings

Most of the fixed-rtate deals now ending have been at roughly half the rate that capped standard variable tariffs will be from the 1st of April. And most of Scottish Power's fixed rate deals are roughly double the cap.

If you have been paying £1300/yr (£110/month)  you might reasonably expect to be paying around £2400/yr (£200/month) on the variable tariff and well over £4000/yr on a fixed rate.

You will probably be best off taking the standard variable tariff.

flashg67

I believe current advice is to go on the variable rate unless you can find a fix that is only around  20% higher than the new capped rates. The Scottish Power new fixed rates seem way above that

MSE_ForumTeam5

We've moved this to the main Energy board