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

John_Philip_Howarth

Is Eon next online v17 still valid or has it is already been superceded by v18. By the way what is SVT

Spoonie_Turtle

John_Philip_Howarth said:

Is Eon next online v17 still valid or has it is already been superceded by v18. By the way what is SVT

SVT = standard variable tariff, the one that's currently at the price cap.

Tigertailor

EDF have offered and I've just accepted for now but feeling really ripped off!

 Looking at what others have been offered by their companies and disgruntled at not being allowed to switch!! why is that?? I feel like it just adds to the lack of market forces competition to help keep the prices down!

Electricity 
Original Tariff:
28.29p unit standing charge 48.15p
offered: 56.82p same standing charge 

Gas 
Original tariff
7.44p  standing charge 27.22
offered Tariff
17.44p standing charge the same

Annual Usage:
Elec 6219KWh Gas 26,079KWh

Feeling sick at my estimated £698 pm DD!!!
It's going to be a long cold winter!! Glad I can knit! Jumpers all round!!! 

Keith_F

Tigertailor said:

EDF have offered and I've just accepted for now but feeling really ripped off!

 Looking at what others have been offered by their companies and disgruntled at not being allowed to switch!! why is that?? I feel like it just adds to the lack of market forces competition to help keep the prices down!

Electricity 
Original Tariff:
28.29p unit standing charge 48.15p
offered: 56.82p same standing charge 

Gas 
Original tariff
7.44p  standing charge 27.22
offered Tariff
17.44p standing charge the same

Annual Usage:
Elec 6219KWh Gas 26,079KWh

Feeling sick at my estimated £698 pm DD!!!
It's going to be a long cold winter!! Glad I can knit! Jumpers all round!!! 

The reason companies will not let you switch, is that contrary to popular belief, they are not making money!
For the most part, they are losing money for every customer who is on the current SVT.
It is  likely that this will continue even after the increase in October.

To make money, they would have to sell you a fixed tariff, which currently, for you, is a bad deal. 

Then they get criticised for putting people on more expensive tariffs!

in the current market, they can’t win. 

kim_lloyd25

jefferson89 said:

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.

Sounds like a lot of confusion their end with some customer service members saying yes and others saying no - unless this is a recent change they've made. I saw the comment someone put about having 6 months of history before allowing fixed DD which makes sense in winter months but if customers are offering to pay double their monthly usage August-November ready for the December-February period, why would they not allow it? It doesn't make a lot of sense but will see when we are officially up and running with them. Judging by the comments I'm guessing I'll also be told no to fixed DD when I speak with them again but we'll just save what we're not paying in a separate space.

QrizB

Tigertailor said:

Looking at what others have been offered by their companies and disgruntled at not being allowed to switch!! why is that?? I feel like it just adds to the lack of market forces competition to help keep the prices down!

The problem isn't "lack of market forces", it's a surplus of them. Market forces work both ways.

mollycaff

Hi Everyone, new to the forum and looking for some advice if possible.   We're with British Gas, on their standard rate, we don't have a fixed monthly direct debit payment, we pay for what we use each month, readings are sent via smart meter.

Had an email from British Gas yesterday offering their Fixed Oct23v3 tariff, details are below.  The unit rates is more or less double what we are paying now, but the standing charge is reduced, quite significantly in relation to the electricity.

Is it worth changing to this tariff?

Thanks for any assistance, my head is spinning trying to decide

pochase

Looking at the latest predications it does not seem to be worth it, but the predictions have increased by more 25% since last May, and especially the predictions of what will happen in April 2023 have changed from a 10% decrease to an increase, so it is a gamble.

A question regarding paying every month, are you using a variable direct debit or are you paying by cash/cheque/transfer? Variable direct debit gives you the DD discount, while the other on is about 7% more expensive.

mollycaff

Thanks Pochase, that's very helpful.  We're leaning on the side of staying as we are for the moment and waiting to see what happens, just cutting our usage as much as possible and saving as much as we can.  Very worrying times.

We pay by variable direct debit.

mikewill34

See here https://forums.moneysavingexpert.com/discussion/6377162/shall-i-fix#latest