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

Saga

Scottish Power is "offering" me a one-year fix until 31/8/2023 on electricity at 52.09p/kWh + 42.24p/day standing charge as an existing customer. I'm currently on SVT, after my previous fix ended in June, paying 28.02p/kWh + 42.24p/day SC. For my annual usage the fix would be a 66% increase. SP has also tagged on a £150 early exit fee.

Seeing that the forecast for the Oct 2022 SVT increase has gone from 52% to 78% to 70% recently and current forecast for increases in the next 12 months (ignoring the –4% in July 2023 - can't see that happening) would give a –£35 difference, I feel there's little choice but to go for the fix.

Doc_N

Saga said:

Scottish Power is "offering" me a one-year fix until 31/8/2023 on electricity at 52.09p/kWh + 42.24p/day standing charge as an existing customer. I'm currently on SVT, after my previous fix ended in June, paying 28.02p/kWh + 42.24p/day SC. For my annual usage the fix would be a 66% increase. SP has also tagged on a £150 early exit fee.

Seeing that the forecast for the Oct 2022 SVT increase has gone from 52% to 78% to 70% recently and current forecast for increases in the next 12 months (ignoring the –4% in July 2023 - can't see that happening) would give a –£35 difference, I feel there's little choice but to go for the fix.

Difficult one.  The early exit fee makes it more difficult still, in the event that the government is forced by political pressure to reduce the price cap increases - possibly substantially. They’ll be very concerned at long term damage to the Conservative Party from a Poll Tax effect and possibly civil unrest.

Saga

Doc_N said:

Saga said:

Scottish Power is "offering" me a one-year fix until 31/8/2023 on electricity at 52.09p/kWh + 42.24p/day standing charge as an existing customer. I'm currently on SVT, after my previous fix ended in June, paying 28.02p/kWh + 42.24p/day SC. For my annual usage the fix would be a 66% increase. SP has also tagged on a £150 early exit fee.

Seeing that the forecast for the Oct 2022 SVT increase has gone from 52% to 78% to 70% recently and current forecast for increases in the next 12 months (ignoring the –4% in July 2023 - can't see that happening) would give a –£35 difference, I feel there's little choice but to go for the fix.

Difficult one.  The early exit fee makes it more difficult still, in the event that the government is forced by political pressure to reduce the price cap increases - possibly substantially. They’ll be very concerned at long term damage to the Conservative Party from a Poll Tax effect and possibly civil unrest.

Never really considered that scenario. The latest opinion poll leader doesn't strike me as a big-state interventionist, spender and distributor of wealth so any action would be limited and likely spread out over time.

I am pessimistic of the war situation being protracted, expanded even, and a belligerent taking timely advantage of a long harsh winter by restricting supplies to military and economic allies.

jefferson89

kim_lloyd25 said:

jefferson89 said:

kim_lloyd25 said:

I'm looking at fixing with Green Energy UK. Its quoting £170 a month, much cheaper than what we've been offered by British Gas, but when I go through to sign up it says they operate Variable Direct Debits. When you sign up is there an option to change this? I'd rather spread it equally through the year than be out of pocket in winter.

kim_lloyd25 said:

I'm looking at fixing with Green Energy UK. Its quoting £170 a month, much cheaper than what we've been offered by British Gas, but when I go through to sign up it says they operate Variable Direct Debits. When you sign up is there an option to change this? I'd rather spread it equally through the year than be out of pocket in winter.

Hey Kim, i have recently joined them, currently going throught the switching process, which should be done on the 4th august, i got the variable also, which i am like yourself prefer a standard direct debit.  i assume you can setup this up once the account is up and running, but will have to see, have you had any more information on this?

They've said once we can sort out fixed direct debits once they've taken over our energy. Our switch is due on 7th August so will speak to them then about sorting it. If it had to stay variable I would've just put a fixed amount in a saving space every month so we'd have the money for winter when it came to it.

Hey Kim,

So i just called them today as of 10:59am. intially not started great for me, was told my switch date was the 2nd and then the 4th via emails but now called up and she said its the 10th of august.  I asked about the fixed direct debits and she stated they do not offer fixed direct debits.

babs31

Eon next 1 year V18 this morning are offering me an increase from Annual cost £4,169.31  to Annual cost £9,420.57 I can't work out if this is in fact a good deal?
 

	Electricity	Gas
Daily standing charge	41.66p	27.22p
Unit rate	69.65p per kWh	17.02p per kWh
Assumed annual usage	5,202kWh	32,575kWh

 

Doc_N

babs31 said:

Eon next 1 year V18 this morning are offering me an increase from Annual cost £4,169.31  to Annual cost £9,420.57 I can't work out if this is in fact a good deal?
 

	Electricity	Gas
Daily standing charge	41.66p	27.22p
Unit rate	69.65p per kWh	17.02p per kWh
Assumed annual usage	5,202kWh	32,575kWh

 

Your usage figures are similar to ours.  I’m currently paying around £2500 pa on a fix, but I’d anticipate an increase in October, when it ends, of around £6500. 

There’s another likely increase in January of course, but those figures still wouldn’t tempt me. Could of course be a huge mistake…..it’s like gambling on fruit machines, but with larger stakes.

spot1034

babs31 said:

Eon next 1 year V18 this morning are offering me an increase from Annual cost £4,169.31  to Annual cost £9,420.57 I can't work out if this is in fact a good deal?
 

	Electricity	Gas
Daily standing charge	41.66p	27.22p
Unit rate	69.65p per kWh	17.02p per kWh
Assumed annual usage	5,202kWh	32,575kWh

 

Are you an existing Eon Next customer? Sorry if I've missed an earlier post where you make this clear but if so you should be able to get the cheaper Next Online v18. 

Lee667

Long time lurker but thought I'd register to post my dealings with EON Next. 

I was on a 1 year fixed that ended last month, in the run up they offered a 2 year loyalty tariff that was pulled before I signed up. 

As a result I ended up fixing for a year as the prices were roughly 78% above the current SVR so thought I'd just fixed it to cover myself. 

I changed my mind the following day and decided to get in touch with them to see if I could go on the svr for the next couple of months and save about 250 quid in the process.

As they close at 4pm on a Friday they have a WhatsApp number you can use where they work later and over weekends so I fired a message over. When they replied I asked if the loyalty fixed was still available even though it wasn't on the website.

To my surprise they said they had 1 which I was eligible for, this one was called a 24 month June loyalty tariff, I'm pretty sure the one I had available on the site before it went said July.

The electricity unit price is 41.03p and the standing charge is 43.39p per day.

Gas is 10.52p per unit and standing charge is 27.22p.per day.

The 1 year fixed I did originally sign up for was 51p per unit for electric and 13p per unit for gas which was a shade over the projected 78% increase. I believe this was the next online v17 tariff at the time. 

The loyalty deal is less than a 50% increase over the svr so its a no brainer to take that even though I'm paying more for a couple of months but I've got a massive amount of credit which I'm going to use as a buffer rather than getting back.

Might be worth getting in touch and seeing if they have any tariffs available that they aren't showing online.

teecee90

Just had this offer from BG:

Current (standard variable) tariff:
£2229

Gas (16208kWh)
£1290
27.22 standing
7.344 unit

Elec (2739kWh)
£939
37.918 standing
29.24 unit

Price Protection v1
£4275 (+92%)

Gas
£2647 (+105%)
24.48 standing
15.72 unit

Elec
£1628 (+73%)
20.11 standing
5.74 unit

Doesn't look particularly appealing.......

babs31

spot1034 said:

babs31 said:

Eon next 1 year V18 this morning are offering me an increase from Annual cost £4,169.31  to Annual cost £9,420.57 I can't work out if this is in fact a good deal?
 

	Electricity	Gas
Daily standing charge	41.66p	27.22p
Unit rate	69.65p per kWh	17.02p per kWh
Assumed annual usage	5,202kWh	32,575kWh

 

Are you an existing Eon Next customer? Sorry if I've missed an earlier post where you make this clear but if so you should be able to get the cheaper Next Online v18. 

Thank you all for your input, it really looks miserable and frightening..
Thanks Spot! I misread, there are two and that was the first I saw, the one you mention is here 

	Electricity	Gas
Daily standing charge	41.66p	27.22p
Unit rate	54.25p per kWh	13.30p per kWh
Assumed annual usage	5,202kWh	32,575kWh
Estimated annual cost	£2,974.43	£4,432.97