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But Martin said NO

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I find myself in the strange position of just being put on a 2 year fix that I can get out of if I act quickly. I know Martin has said ‘do nothing’ but (if my calculations are correct) it will only cost me £47.77 more a year to take the fix than the standard tariff.  Bearing in mind the anticipated price hike in October I wonder if it would be worth the gamble of taking the fix - if prices went down by much over the 2 years it would cost me £80 to leave.

I’ve never had to look this closely at energy bills so any input would be helpful. 

If anyone wanted to check my maths:

Fix: electric standing chg 24.03 x 365 = 87.71, 3000 units @ 31.63 = 948.90.  Total 1036.61. I
      Gas standing chg 26.11 x 365 = 95.30, 13580 units @ 7.69 = 1044.30.  Total 1139.60.  Year total = 2176.21

Std: electric standing chg 41.65 x 365 = 152.02, 3000 units @ 29.48 = 884.40.  Total 1036.42.
      Gas standing chg 27.21 x 365 = 99.32. 13580 units @ 7.31 = 992.70.  Total 1092.02.  Year total = 2128.44.

Thanks
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Comments

  • Gerry1
    Gerry1 Posts: 10,848 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    edited 6 April 2022 at 3:15PM
    Welcome to the forum.
    And the name of the fix is...?

  • pochase
    pochase Posts: 3,449 Forumite
    1,000 Posts Third Anniversary Name Dropper
    That's a no brainer, keep it.

    What fix is this?
  • It’s the So energy Grape 2 year tariff. They missed my email saying I didn’t want to switch - looks like I may have been lucky

  • and thank and thanks for the welcome

  • pochase
    pochase Posts: 3,449 Forumite
    1,000 Posts Third Anniversary Name Dropper


    Looks a bit more expensive for gas than you quoted, but still great. So did it start on 1st of April or is it backdated?


  • Gerry1
    Gerry1 Posts: 10,848 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    According to Energylinx, the SO Energy Grape 2 year tariff was withdrawn on 26 January. 
  • This is my quote. My old fix ended on 28th March so it started on 29th. 
  • pochase
    pochase Posts: 3,449 Forumite
    1,000 Posts Third Anniversary Name Dropper
    They must have made a big mistake, but all the better for you. I assume the difference in my screen shot might be different regions.

    So instead of putting you onto the SVT they put you onto a a fixed tariff that was withdrawn already in January? 
  • They called me in January to offer the new fix quoting the new monthly payments so I asked to see the figures. The email I got, dated 28th January, indicated I had accepted the new tariff and set it out as above. As the advice at the time was not to take a new fix I emailed straight back on 31st January (well within the 14 day cooling off period) saying I didn’t want to take it. 

    On Saturday I had an email from SO energy apologising for not responding to my email within usual timelines etc. It said that if I hadn’t received a response through another channel I should respond to the email and they would respond asap. 

    On Monday I received an email welcoming me to the new tariff. I was about to call them to say I hadn’t accepted the tariff but realised I had the opportunity to compare the real figures before doing anything.

    It seems I fell into a communications black hole and it’s been to my advantage.  

  • Ally_E.
    Ally_E. Posts: 396 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    That's a very good deal, thank your lucky stars. Well done.
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