What rates are you being offered by your provider at the moment?

Mstty

Muppet_194 said:

Hi everyone,  long time lurker/reader but first post so please bear with me if it doesnt make sense. Im hoping to borrow someone's crystal ball please. 

Ive been on SVT with EDF since my previous supplier went bust, we are not mega users, slightly over average for electric, slightly under for gas. I like to pay for what I use as I feel l have a little control that way, if I see usage creeping up we can go easy and bring it back down if needed. I pay full amount monthly by dd.

Recently with all the news and predictions I had a wobble and signed up to a fix - Fix total service August24 - but the prices arent anything to shout about at 57p electric and 17p gas , give or take. Im still in cooling off period.

Does anyone know if Cornwall Insight predictions are going above these sort of amounts? Im not thrilled at being fixed for 2 years with £200 exit fee as so much can happen in that time, especially with new PM. 
Im good at budgeting and thinking of going back to SVT (take my chances) and paying full amount monthly as before. I know my winter bills will be huge but the following summer will even it out for me. 
I know, I know its all a gamble and no body really knows yet but you lot are so knowledgeable I thought Id ask the general consensus of opinion. Is my fix worth it or do we reckon those prices might come lower than that within 2 years, or extra measures might be brought in?
Thanks for any advice, I really appreciate it. 

I think it's getting difficult to advise anyone to fix given the media reports of what may or may not happen when the next leader takes their post and the ever changing forecast for the price caps in the year to come.

The whole country is on holiday but the key dates are Ofgem price cap announcement 26th August and new PM 5th September.

Muppet_194

Thank you, my 14 days are up on 23rd, I keep checking the website thinking of bobbing out of this fix and grabbing another just to have the cooling off period across those two key dates but the unit prices to fix now are already up to 63p electricity and 19p gas. 
Dont wanna cut my nose off to spite my face or whatever the phrase is ! 

Muppet_194

QrizB 

Depending on how your usage breaks down month-by-month it couldwork out to be worth staying on the fix through the coming winter then paying the exit fee in July. 

Thats not a bad shout. Thanks !

nursemolly

Scottish Power have offered me to fix at £520 per month with a £300 exit fee......there is only the two of us.....where on earth do they get their figures from !!!!!!

nursemolly

nursemolly said:

Scottish Power have offered me to fix at £520 per month with a £300 exit fee......there is only the two of us.....where on earth do they get their figures from !!!!!!

..and I am £480 in credit .....

Alnat1

How much energy do you use (in kWh) per year? Use actual meter readings if possible, like from a bill 1 year ago and read meters today. If you can't get this info, what annual usage (kWh) are SP basing their predictions on?

Once you post the figure, someone here will do the maths and advise if the payments are likely to be correct.

nursemolly

will do this later when I get home...thanks

Gravesberie

My renewal notice from Octopus Energy has arrived. From October 1 my monthly direct debit is set to rise by nearly 200%. 

I am paying £107 a month, and the proposal from Octopus Energy is that for their Co-op Loyal 12M Fixed I must pay £292, or I can revert to a flexible tariff and pay £130 a month. 

My current tariff for electricity is 21.49p/kWk. That would increase to 71.22p/kWh. 

For gas the tariff is now 4.44p/kWh. That would rise to 18.91p/kWh. 

The standing charge for electricity has nearly doubled to 47.31p per day. 

They say that these figures are based on the latest industry estimate of my energy use. 

If I allow my fixed tariff to run out, and revert to a flexible tariff the charge for electricity would be 29.58p/kWh, and 7.36p/kWh for gas. 

I do not understand the disparity between fixed and flexible rates. And a 200% increase seems excessive. But would being ‘flexible’ mean that I could eventually be paying even more?

nursemolly

electric 80.54 per kwh and standing charge of 43.3 and gas 27.2 standing charge and 23.6 per unit for new fixed tariff !

nursemolly

Current variable rate is elec standing charge 43.3p and 28.1 per kwh and gas is 27.1 standing charge and 7.4 per unit.....arise of over 200%