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

pochase

Costingbunny said:

Had renewal quote from Sainsburys to go onto Smooth v20 from 3/10/22.  

Put figures into the MSE calculator and it says it’s too high to switch but it seems similar to others on here?  Going from £120pm to £377pm?

No exit fees so wondering if I should just fix now anyway in case they pull this ‘deal’?

You are coming from a fixed tariff. You need to compare the current SVT which is much higher with the new fixed tariff.

pochase

clowers90 said:

Leew89 said:

I've taken the EON Next Online v19 (12 month fix), effective from 02/10/22.

Electricity:
59.42 p/kWh 48.53 p/day

Gas:
15.03 p/kWh 27.22 p/day

Currently paying:

Electricity:
19.21 p/kWh 18.33 p/day

Gas:
3.77 p/kWh 17.63 p/day

Given the predictions for January and April and the fact it doesn't have an exit charge it seems a no-brainer.

I got offered EON Next v.21 today so looks like the v.19 has already been pulled. The costs are below its more than 130%!! over so Martin’s price calculator says I shouldn’t take it. Should I risk the SVT or take this in case it goes up?

Electricity
Daily standing charge	54.10p
Unit rate	84.17p per kWh
Assumed annual	5,218kWh

	Gas
Daily standing charge	32.03p
Unit rate	21.01p per kWh

There is a Eon Next 1 Year V21 which is very expensive, and an Eon Next Online V19. That are different tariffs.

The Online is only offered when you manage your account online.

Costingbunny

Metalingus84 said:

pinky1978 said:

Metalingus84 said:

Leew89 said:

I've taken the EON Next Online v19 (12 month fix), effective from 02/10/22.

Electricity:
59.42 p/kWh 48.53 p/day

Gas:
15.03 p/kWh 27.22 p/day

Currently paying:

Electricity:
19.21 p/kWh 18.33 p/day

Gas:
3.77 p/kWh 17.63 p/day

Given the predictions for January and April and the fact it doesn't have an exit charge it seems a no-brainer.

We agreed this one as well this morning after 24 hours deliberating... feels it gives us some certainty in these uncertain times.

Did you get a deferred start date of 2/10/2022 like Leew89 ?

06/10 as that's when my current fix ends. 

Bit the bullet and switched to the new fixed tariff with no exit fees.  If anything positive happens with the price cap I guess we can re think.   

Our new DD starts 3/10/22 when our current deal ends. 

Costingbunny

pochase said:

Costingbunny said:

Had renewal quote from Sainsburys to go onto Smooth v20 from 3/10/22.  

Put figures into the MSE calculator and it says it’s too high to switch but it seems similar to others on here?  Going from £120pm to £377pm?

No exit fees so wondering if I should just fix now anyway in case they pull this ‘deal’?

You are coming from a fixed tariff. You need to compare the current SVT which is much higher with the new fixed tariff.

Thanks.

I’ve found the new tariff and compared now and switched.  All a gamble but with no exit fees and a 14 day cooling off period I cam
re adjust if needed.

clowers90

pochase said:

clowers90 said:

Leew89 said:

I've taken the EON Next Online v19 (12 month fix), effective from 02/10/22.

Electricity:
59.42 p/kWh 48.53 p/day

Gas:
15.03 p/kWh 27.22 p/day

Currently paying:

Electricity:
19.21 p/kWh 18.33 p/day

Gas:
3.77 p/kWh 17.63 p/day

Given the predictions for January and April and the fact it doesn't have an exit charge it seems a no-brainer.

I got offered EON Next v.21 today so looks like the v.19 has already been pulled. The costs are below its more than 130%!! over so Martin’s price calculator says I shouldn’t take it. Should I risk the SVT or take this in case it goes up?

Electricity
Daily standing charge	54.10p
Unit rate	84.17p per kWh
Assumed annual	5,218kWh

	Gas
Daily standing charge	32.03p
Unit rate	21.01p per kWh

There is a Eon Next 1 Year V21 which is very expensive, and an Eon Next Online V19. That are different tariffs.

The Online is only offered when you manage your account online.

Thanks Pochase,
I do manage my account online so that’s a bit confusing. Looking at the tariff I’ve been offered thats (fairly) reasonable.

debjay

Costingbunny said:

Had renewal quote from Sainsburys to go onto Smooth v20 from 3/10/22.  

Put figures into the MSE calculator and it says it’s too high to switch but it seems similar to others on here?  Going from £120pm to £377pm?

No exit fees so wondering if I should just fix now anyway in case they pull this ‘deal’?

Are you using your current fix figures though as then it will say it’s too expensive. You need to use what they’re saying is their standard tariff which will go up with the price cap and compare that with the new fix. It I do that it says it’s 94% more and strongly worth considering tho it is an eye watering 4K. We’ve gone for it as no exit fees so can leave whenever 

Costingbunny

debjay said:

Costingbunny said:

Had renewal quote from Sainsburys to go onto Smooth v20 from 3/10/22.  

Put figures into the MSE calculator and it says it’s too high to switch but it seems similar to others on here?  Going from £120pm to £377pm?

No exit fees so wondering if I should just fix now anyway in case they pull this ‘deal’?

Are you using your current fix figures though as then it will say it’s too expensive. You need to use what they’re saying is their standard tariff which will go up with the price cap and compare that with the new fix. It I do that it says it’s 94% more and strongly worth considering tho it is an eye watering 4K. We’ve gone for it as no exit fees so can leave whenever 

Thanks - I get it now!  Being stupid!
Yes it now says I should switch as it’s 98% more - bargain 😮

Cloth_of_Gold

Cloth_of_Gold said:

Cloth_of_Gold said:

Cloth_of_Gold said:

Hi, I would appreciate some advice please.

Our fixed deal with Scottish Power ended yesterday and we have been offered a new 1 or 2 year fixed deal. We haven't done anything about it yet and so from today are on the standard tariff. Our usage for the 12 months ending May 2022, according to Scottish Power, was 7989KWH. It is likely to be less in the coming year as we are now being more careful about our energy usage, but I can't see it being hugely less.

The one year deal they have offered (Green Flexi August 2023 M1) has a standing charge of 32.14p per day and a unit cost of 45.692p/KWH. The standard rate currently has the same standing charge but the unit rate is only 29.632p/KWH.   About a month ago they reminded us that our then fixed rate was due to end and we looked at what was on offer but obviously didn't switch then. The standard rate was the same then as it is today though. I would have to check but, from memory, on our previous deal we were paying something like 18 or 19p per unit, so this would represent an increase of about 150%, which seems excessive, from the figures I hear on the news. In the last 12 months we paid something like £1500 for our electricity and they are forecasting with the fixed deal around £3800! We don't have any gas appliances at the moment.

My question is, Should we move to the 1 year fixed (or the slightly more expensive two year fixed) tariff or stay with the standard tariff, as it is so much cheaper. I realise that it could, and probably will, go up, but is it likely to go above what is being offered on these fixed price deals? I just wonder if we're being encouraged to go onto something that will not be to our advantage or whether, in fact, the standard tariff will rocket soon, by which time these deals will have been replaced by something even more expensive and we will rue not taking what's on offer now.

I just checked what SP is offering us now as a fixed rate. They are only offering us two, and the cheapest of those is the Green Flexi August 2023 M2. The rates are 53.7 p/KWH and 32.14 SC. The SC is the same as what they offered 4 weeks ago but the unit rate has gone up by 8p, or 17.5%. We stayed on the variable rate of 29.6p/KWH and SC of 32.14p/day.  4 weeks ago, according to SP, our annual usage is 7989 KWH, today, and after submitting a reading on 1/7, it has gone down to 6899.

Surprisingly, over two weeks later, Scottish Power is still offering us the same rates on its Green Flexi August 2023 M2 tariff (53.7 p/KWH and 32.14 SC). Given that the latest prediction is for the cap to rise by 82% in October and a further nearly 15% in January this would, in October, take our SVT in up to what they are now offering us for the fixed deal, and in January we would be paying about 8p per KWH more on the SVT than this fix, and from April, still more. Even if the cap comes down a bit in July, it is still likely to be more than 53.7p on current predictions.

I think perhaps we should take this in case it disappears on Monday; we will have the two week cooling off period if we change our minds.The only thing is that it is a flexi deal and so the whole rate isn't fixed, about 85% is but the rest, which are variable costs, 'linked to external industry costs such as network, social and environmental obligation costs that may increase or decrease throughout the tariff term'. Currently these amount to 8p per KWH for our area. It says on the SP website that they are linked to the price cap and are reviewed quarterly at the same time as the cap so if they went up 82% too, that would add about 6p to the unit rate, making it about 60p in total, going up to about 62p in January, meaning the fix isn't so great after all.

Does anyone have any thoughts?

Just checked again and we are no longer being offered this tariff (not surprising I suppose). The only one SP is offering us is a one year fix with the same standing charge as before (32.14p) but a whopping 81.72 p/KWH charge. I haven't seen the latest predictions but unless they have gone up hugely (from the already expected huge increase to be announced on Friday) I can't see that this could possible save us money over the SVT. It's not even a fully fixed rate but a flexi tariff so it could go up over the life of the fix anyway.

HELPlease

debjay said:

Costingbunny said:

Had renewal quote from Sainsburys to go onto Smooth v20 from 3/10/22.  

Put figures into the MSE calculator and it says it’s too high to switch but it seems similar to others on here?  Going from £120pm to £377pm?

No exit fees so wondering if I should just fix now anyway in case they pull this ‘deal’?

Are you using your current fix figures though as then it will say it’s too expensive. You need to use what they’re saying is their standard tariff which will go up with the price cap and compare that with the new fix. It I do that it says it’s 94% more and strongly worth considering tho it is an eye watering 4K. We’ve gone for it as no exit fees so can leave whenever 

I’ve also used my old fix to calculate whether it was advising its was too high. That was last night and I didn’t do it because it said it was 222% and hence too high.

Perhaps MSE could add an update so people would know to use the new SVR offer x New fix offer. 

 I have now signed with the Sainsburys’s 1Year Smooth v20 as using the calculator correctly has shown to be below 110%.

Reference 1_YEAR_SMOOTH_RENEW_V20_RENEWAL Starts from 12:00 AM, 7th Oct 2022 Electricity Unit price 60.51p per kWh Standing charge 43.39p per day Gas Unit price 15.23p per kWh Standing charge 27.22p per day

HELPlease

HELPlease said:

debjay said:

Costingbunny said:

Had renewal quote from Sainsburys to go onto Smooth v20 from 3/10/22.  

Put figures into the MSE calculator and it says it’s too high to switch but it seems similar to others on here?  Going from £120pm to £377pm?

No exit fees so wondering if I should just fix now anyway in case they pull this ‘deal’?

Are you using your current fix figures though as then it will say it’s too expensive. You need to use what they’re saying is their standard tariff which will go up with the price cap and compare that with the new fix. It I do that it says it’s 94% more and strongly worth considering tho it is an eye watering 4K. We’ve gone for it as no exit fees so can leave whenever 

I’ve also used my old fix to calculate whether it was advising its was too high. That was last night and I didn’t do it because it said it was 222% and hence too high.

Perhaps MSE could add an update so people would know to use the new SVR offer x New fix offer. 

 I have now signed with the Sainsburys’s 1Year Smooth v20 as using the calculator correctly has shown to be below 110%.

Reference 1_YEAR_SMOOTH_RENEW_V20_RENEWAL Starts from 12:00 AM, 7th Oct 2022 Electricity Unit price 60.51p per kWh Standing charge 43.39p per day Gas Unit price 15.23p per kWh Standing charge 27.22p per day

Monthly £367.66