This Can't be Right!

PipSmith

I've just worked out my new gas & electric unit costs having given my meter readings. I'm pretty sure Scottish Power have made a huge error!
My electricity has increased by 275% per unit!
My gas has increased by, wait for it...531%!
Surely this isn't legal is it? A miscalculation by Scottish Power or I'm being taken for a fool. 

gefnew

You will need to provide more information.
Old unit rates and how much you use and the new rates you are on now which provider, then people may stand a chance of giving you some informed advice.

Gerry1

Last August I was paying 2.0265p per kWh plus 28.497p per day for gas. Now on EDF's SoLR standard capped tariff it's 7.319p/kWh plus 27.22p/day. So those Scottish Power figures are likely to be correct. Just make sure you're on the capped SVT if a fix has ended.

The_Fat_Controller

If you have moved from a fix to the SVT tariff that does look steep.

If you have move from an old fix to a new fix with Scottish Power it is entirely possible.

What are the old and new tariff names and unit rates/standing charges ?

PipSmith

gefnew said:

You will need to provide more information.
Old unit rates and how much you use and the new rates you are on now which provider, then people may stand a chance of giving you some informed advice.

Hi there
So old & new unit rates as follows:
Electric - old unit 14.252p, now 53.438p
Gas - old unit 2.875p now 18.139p
I'm with Scottish Power & have gone from a fixed tariff to a new one year fixed tariff. I pay by monthly direct debit.
Thanks all

TheMilkmansDad

Sounds plausible to me and no obvious indication of any illegal activity.

There a whole number of things possibly at play here the main one being any changes in tariff.

As others have said, have you recently changed tariff? If so, what were their names and tariff rates? Armed with that information more guidance may be forthcoming. 

Gerry1

PipSmith said:

gefnew said:

You will need to provide more information.
Old unit rates and how much you use and the new rates you are on now which provider, then people may stand a chance of giving you some informed advice.

I'm with Scottish Power & have gone from a fixed tariff to a new one year fixed tariff.

BIG mistake, I'm afraid, you've chosen a crazily expensive tariff, especially for gas.

Check the exit fees to see whether it's worth escaping.

The capped tariff will be very similar to EDF's.

[Deleted User]

PipSmith said:

gefnew said:

You will need to provide more information.
Old unit rates and how much you use and the new rates you are on now which provider, then people may stand a chance of giving you some informed advice.

Hi there
So old & new unit rates as follows:
Electric - old unit 14.252p, now 53.438p
Gas - old unit 2.875p now 18.139p
I'm with Scottish Power & have gone from a fixed tariff to a new one year fixed tariff. I pay by monthly direct debit.
Thanks all

You seem to have agreed to a fixed tariff which has the advantage of giving you price protection for the tariff contract period - but at a high cost. What termination fees does your contract have?

TheMilkmansDad

PipSmith said:

gefnew said:

You will need to provide more information.
Old unit rates and how much you use and the new rates you are on now which provider, then people may stand a chance of giving you some informed advice.

Hi there
So old & new unit rates as follows:
Electric - old unit 14.252p, now 53.438p
Gas - old unit 2.875p now 18.139p
I'm with Scottish Power & have gone from a fixed tariff to a new one year fixed tariff. I pay by monthly direct debit.
Thanks all

so the issue here is you've gone from a "cheap" fix to a new "expensive" fixed deal. time to tighten your belt, along with many other unfortunately. 

Fixed rates tariffs have no limits. Did you research before signing up (assuming you have) or were you "pushed" into fixing? Moving to the SVR may have proven cheaper (depending on usage maybe not by as much as you'd like).

The_Fat_Controller

Both of your new fixed rates are well above April-September SV capped rates, which are roughly

Electricity 29p 

Gas 7.4p

Personally, I would have passed on that fix !

Is there a "cooling off" period that could allow you to escape ?

QrizB

PipSmith said:

Hi there
So old & new unit rates as follows:
Electric - old unit 14.252p, now 53.438p
Gas - old unit 2.875p now 18.139p
I'm with Scottish Power & have gone from a fixed tariff to a new one year fixed tariff.

As others have said, this is entirely correct. Fixed rates are not capped and suppliers can offer whatever states they like.

Can I check this is a domestic tariff, not a business one?

What exactly persuaded you to take this fix? Did SP say you had no other options?