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

SickGroove

I'm in the same boat with OVO...wish I'd fixed for longer last September! 

Just a heads-up that your OVO Member Special plan is ending on 25 September 2022

Options are...

1 Year Fixed Smart

Plan rates

Electricity

Unit rate:

66.66p/kWh

Standing charge:

51.26p/day

Gas

Unit rate:

19.66p/kWh

Standing charge:

27.52p/day

1 Year Fixed

Plan rates

Electricity

Unit rate:

57.27p/kWh

Standing charge:

51.26p/day

Gas

Unit rate:

16.74p/kWh

Standing charge:

27.52p/day

2 Year Fixed

Plan rates

Electricity

Unit rate:

66.89p/kWh

Standing charge:

51.26p/day

Gas

Unit rate:

19.68p/kWh

Standing charge:

27.52p/day

Variable

Plan rates

Electricity

Unit rate:

27.63p/kWh

Standing charge:

44.74p/day

Gas

Unit rate:

7.28p/kWh

Standing charge:

27.22p/day

Absolutely no idea what to do!

ffc58

southseabubble said:

I've had this 1 year offer to fix from Ovo today (current fix expires 3 Oct)

Not sure whether to fix now or wait until nearer the time (perhaps after new PM in office)

electricity

Unit rate:

57.86p/kWh

Standing charge:

49.91p/day......................(this seems whopping compared to a BG fix)

gas

Unit rate:

16.87p/kWh

Standing charge:

27.52p/day

It's £474 pm v £233 pm for the variable tarriff, but believe latter will go through roof in Oct then Jan then Apr.

What a dilemma.. thoughts from anyone in same leaky boat?

.

I   am in the same boat have a very good 1 year fix from Ovo  Gas 3.57  SC 25.51  Elec18p SC25.51 Plus VAT ending Oct 1st
I have been offered similar rates as you by OVO fixed for 1 year.
Variable is cheaper on offer Elec 27.09 SC 48.91 Gas 7.22 SC 27.22 Inc VAT
These companies are playing games .When is the price cap revealed?
Not sure to go with the fxied rate or variable.
£254 a month or £128 a month.

damsonjam

ffc58 said:

southseabubble said:

I've had this 1 year offer to fix from Ovo today (current fix expires 3 Oct)

Not sure whether to fix now or wait until nearer the time (perhaps after new PM in office)

electricity

Unit rate:

57.86p/kWh

Standing charge:

49.91p/day......................(this seems whopping compared to a BG fix)

gas

Unit rate:

16.87p/kWh

Standing charge:

27.52p/day

It's £474 pm v £233 pm for the variable tarriff, but believe latter will go through roof in Oct then Jan then Apr.

What a dilemma.. thoughts from anyone in same leaky boat?

.

I   am in the same boat have a very good 1 year fix from Ovo  Gas 3.57  SC 25.51  Elec18p SC25.51 Plus VAT ending Oct 1st
I have been offered similar rates as you by OVO fixed for 1 year.
Variable is cheaper on offer Elec 27.09 SC 48.91 Gas 7.22 SC 27.22 Inc VAT
These companies are playing games .When is the price cap revealed?
Not sure to go with the fxied rate or variable.

These are Martin’s current best estimates of where the price cap is going and when
https://www.moneysavingexpert.com/utilities/-are-there-any-cheap--fixed-energy-deals-currently-worth-it--/

ffc58

SickGroove said:

I'm in the same boat with OVO...wish I'd fixed for longer last September! 

Just a heads-up that your OVO Member Special plan is ending on 25 September 2022

Options are...

1 Year Fixed Smart

Plan rates

Electricity

Unit rate:

66.66p/kWh

Standing charge:

51.26p/day

Gas

Unit rate:

19.66p/kWh

Standing charge:

27.52p/day

1 Year Fixed

Plan rates

Electricity

Unit rate:

57.27p/kWh

Standing charge:

51.26p/day

Gas

Unit rate:

16.74p/kWh

Standing charge:

27.52p/day

2 Year Fixed

Plan rates

Electricity

Unit rate:

66.89p/kWh

Standing charge:

51.26p/day

Gas

Unit rate:

19.68p/kWh

Standing charge:

27.52p/day

Variable

Plan rates

Electricity

Unit rate:

27.63p/kWh

Standing charge:

44.74p/day

Gas

Unit rate:

7.28p/kWh

Standing charge:

27.22p/day

Absolutely no idea what to do!

Yes same here . 

sgb64

Hi everyone, 

Thank you in advance to all the people who'll try to make things clearer...

I'm arriving from France and try to understand the jungle of energy providers in UK... (after recovering from the shock when discovering prices... In France, I'm paying 0,17 euros per KHW...). 
I think I've understood the basics, between fixed and variable... I'm not sure to understand the price cap... I mean, a real one would be a max per KhW, not this global sum of more than 3000 £ a year which doesn't mean anything because it all depends of the size of the place you live in, and how you use electricity... so what's the purpose of that, and does it have any impact?

I saw on this forum things like April 2022 v1, or v2, 3, 4.... what does it mean? 
And finally, I can't find simple and precise information about the tariffs. All the websites ask you to compare with what you have at the moment. But I don't have anything! I just want to be able to compare between the providers to chose one for the first time. And the worst is when some websites just say " not the right time to switch, no information at the moment, come back later! " Unbelievable! 
Even on the providers website, you often can't get the tariffs. Only on Octopus, I found prices and offers. But even there, I'm lost!
 What is the difference for exemple between: 

Octopus 12M Fixed August 2022 v1 

Unit rate:72.47 p/kWh
Standing charge:41.39 p/dayLoyal Octopus 12M Fixed August 2022 v1
Unit rate:69.16 p/kWh
Standing charge:41.39 p/day

pochase

Welcome to the forum and welcome (back?) to the UK.

French electricity prices are heavily subsidised by the French government, so you are in for a shock.

The one amount cap price often published is just that, a single amount to scare people and good for head lines. The real cap once announced will have the information like xxp/KWh and stansing charges. Our press just does not like to give useful information, it is much easier to se a single figure and a single percentage, you don't really need to know much about the anergy market.

Energy suppliers are not allowed to charge more than the prices per KWh defined by the cap  on the SVT (standard variable tariff). There is no limit how much you pay, the more you the more you pay, and there is no limit to the total price.

To make it more complicated there is no single unit rate defined by the cap, the UK consists of several energy regions, in each region the unit rates and the standing charges are different, especially for electricity. For gas this difference exist, but the are minimal.

Add to that different rates within the regions depending how you pay for your energy, direct debit. cash/cheque/standing order or prepaid.

The different versions you have seen refer to fixed tariffs offered by suppliers. The Market is volatile and fast moving due to new increased predictions for the next cap. So there is not just one fixed rate offered in June, they might have changed the price 3 or 4 times, such version 1,2,3,4.

The suppliers are currently losing money on customers on the SVT, so nobody wants new customers to increase their losses. When you move into your first home you will be automatically a customer of the supplier who is currently supplying the home with energy. You take meter readings and contact them to open an account, you are already a customer on the deemed tariff, which is the same as SVT.

It is hard, but possible to find the tariffs for most suppliers, but it does not make much sense, the SVT prices are almost the same, everybody charges as much as allowed by the cap.

For the quoted Octopus fixed tariff I assume you are seeing the same fixed tariff, but for two different regions.

BUFF

Loyal Octopus is for people who have been existing Octopus customers for a certain qualifying period of time.
The other will be for new customers moving to them.

pochase

BUFF said:

Loyal Octopus is for people wh have been existing Octopus customers for a certain qualifying period of time.
The other will be for new customers moving to them.

Thanks @buff I missed the Loyal

Carooky

Hi All, I have been offered the bargain of the year...not !

Outfox the Market - My current dual fuel monthly payment is £138 p/m on Super Fix'd 12m Aug21 v2.

They have offered - Fix'd X 22 7.0  - £527.76 p/m   

I'm no mathematician but I recon that's at least  a 280% RISE eeeeeeek !!!

I think I'll need to look for a terrible deal elsewhere.
Utility Warehouse has a decent offer but don't think it's worth the hassle of signing up to a different broadband and mobile deal at the same time.

HELP !!!

pochase

You need to give us a bit more data. What unit rates have been offered to you and what is your usage over 12 months?

OFTM are known for very high fixes, not sure if this is still the case, but it does not look like it. The increase from SVT October 2021 to October 2022 is already 182%, so if you are currently on a good fix, you increase percentage to both future SVT and reasonable fix is very likely.