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

Willow1983

Hi Darkerdave, I am with EDF and just changed to the deal they sent through for 2 year fixed with £150 credit to account - not sure if I have done the right thing or not 🤔 but have 14 day cool off period - the rates are as follows -

Electric unit rate - 42.45 was 26.51 - daily standing charge - 49.65 was 47.28

Gas unit rate - 12.903 was 6.96 - daily standing charge - 27.22 was 25.92

i was just on normal tariff will now go up from £180 a month to £270 😳 not sure if I have done the right thing or not but don’t fancy paying the predicted £500 a month as couldn’t afford that! Any advice welcome.

pochase

If you don't see it there is none offered to you. You can click on switch tariff and see if a tariff comes up that you can switch to.

Also not everybody gets the same tariffs offered at EDF, it depends if you are on SVT, if you have a fixed tariff that will end shortly or if you are on a fixed tariff that is still running for a while. 

nrmsmith

EDF are trying to persuade me to sign up for a “fix” at 17.239 p/kwh (currently on 7p/kwh the Apr22 capped rate).  There is no way. I will stay on the capped tariff as I can’t see being better off on a fixed rate.

I do wonder whether there is a project fear scam going on presently, to try and scare us all into signing up for a fixed rate that is going to make the energy suppliers very happy going forward.

Cloth_of_Gold

Doc_N 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.

I just checked Green Energy's website and they are quoting us the same SC as SP but a UR of 'only' 45.57p/KWH. This offer is basically the same as that being offered by SP 4 weeks ago, and which we rejected in favour of staying on the SVR. Clearly that was the correct decision then, as we have saved a little over the last 4 weeks by paying 16p/KWH less than we would have done had we switched.

My question is does anyone have any feeling for how long this Green Energy tariff will last? Naturally, it's better to stay on the SVR as long as possible but we don't want to miss out if the Green Energy tariff jumps significantly in the near future. I know that no one knows for certain what is going to happen but does anyone have a feeling for what we should do - stay on SPs SVR, at least for now, or move now to Green Energy's Sparkling fixed tariff?

Isn’t the real question how long Green Energy itself will last?

I might agree if they were Johnny-come-latelys but they have been around for 20 years. I realise that that, in itself, doesn't guarantee their continued existence but it gives me a reasonable degree of reassurance.

Cloth_of_Gold

pochase 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.

I just checked Green Energy's website and they are quoting us the same SC as SP but a UR of 'only' 45.57p/KWH. This offer is basically the same as that being offered by SP 4 weeks ago, and which we rejected in favour of staying on the SVR. Clearly that was the correct decision then, as we have saved a little over the last 4 weeks by paying 16p/KWH less than we would have done had we switched.

My question is does anyone have any feeling for how long this Green Energy tariff will last? Naturally, it's better to stay on the SVR as long as possible but we don't want to miss out if the Green Energy tariff jumps significantly in the near future. I know that no one knows for certain what is going to happen but does anyone have a feeling for what we should do - stay on SPs SVR, at least for now, or move now to Green Energy's Sparkling fixed tariff?

You are aware that this is the new fixed tariff and was introduced earlier this morning?

You have missed the tariff with electricity rates below 40p by a few hours. That tariff was available for several weeks, but nobody will be able to tell you how long the new one will be available, depending on further new bad news regarding the predicted cap it might be weeks, or hours.

Yes, I am aware of these things. I also realise, as I said in my post, that no one knows for certain how long it will last but I don't follow these things closely, as do some, and I wondered if those who know more about it than I do might have some advice.

Mstty

nrmsmith said:

EDF are trying to persuade me to sign up for a “fix” at 17.239 p/kwh (currently on 7p/kwh the Apr22 capped rate).  There is no way. I will stay on the capped tariff as I can’t see being better off on a fixed rate.

I do wonder whether there is a project fear scam going on presently, to try and scare us all into signing up for a fixed rate that is going to make the energy suppliers very happy going forward.

How are they trying to persuade you? Was it a cold call/telephone/pushy sales?

Or just a fixed rate available on your online account?

nrmsmith

Not trying to push it in all honesty - but it was the only offer available to me on my online account should I want to fix.

But I am convinced most people could be better off staying on the capped tariff and cutting down on energy consumption as much as possible. Both my suppliers have gone bust in the last 12 months so I’m not anxious to move again even if it means staying with EDF. If companies as big as them get into trouble then we really are in trouble. 

ChrisMrT

dw22 said:

I fixed with Sainsbury's Energy at the end of September 2021 so have been cushioned from the worst of the price rises. 

Current Tariff

Gas Standing 19.27p / Unit 3.78p
Electricity Standing 19.97p / Unit 19.2p

I pay £66 / month and am in credit. 

They have offered One Year Smooth Renew tariff from the end of my current deal.

Suggested Tariff

Gas Standing 27.22p / Unit 12.81p
Electricity Standing 48.53p / Unit 50.23p

My estimated usage is 5123 for gas and 2143 for electricity.

With the very recent increase in the expected price cap, might it be best for me to lock into the fix now?

This is almost exactly my situation, 1 year deal until the end of of September 2022. I'm trying to decide whether to let it run and go to SVR and the risks that go with that, or take the expensive fix and at least know where I am for the next 12 months. The fix itself has gone up £30 per month since I enquired at the start of the month.

Any advice from those closer to the numbers?

Rachmidds

Hi,

I was offered this as an existing British gas customer until Oct 23 (called Fixed Oct23v1) 

Gas:
15.177p kwh
Standing rate: 24.48p

Electric:
51.485p kwh
Standing rate: 31.069p

Is this a good fixed plan to sign up to considering the price hikes. I'm currently just on the standard variable rate.

Many thanks

renifer7

Rachmidds said:

Hi,

I was offered this as an existing British gas customer until Oct 23 (called Fixed Oct23v1) 

Gas:
15.177p kwh
Standing rate: 24.48p

Electric:
51.485p kwh
Standing rate: 31.069p

Is this a good fixed plan to sign up to considering the price hikes. I'm currently just on the standard variable rate.

Many thanks

Compared to my SVR with British Gas this is an increase of 73% on electricity and about 100% on gas unit rates. Standing rates are minimally lower than SVR. So overall your unit price will increase by ca. 86%. Martin's advice at the moment is do not switch beyond 75% increase: https://www.moneysavingexpert.com/utilities/-are-there-any-cheap--fixed-energy-deals-currently-worth-it--/