Electricity contract ending with Logicor Energy

TonySimon

Hi.  I am with this company and paying 15p per day and 15p per KwH.  The contract is coming to an end in August.  I have been going through the posts here about the price cap and trying to figure out what will happen to my payments come August.  I use about 2000 units each year and pay them £31.  The account is never is debt and usualy has a small credit balance.

It seems that I would need to pay about £100 per month when I move to the standard variable rates instead of £31 but I am not sure if I am calculating this correctly, is anyone able to offer advice on this for me?

Many thanks for help.

QrizB

Good afternoon @TonySimon I remember this time last year we were both hoping to join Logicor. My switch fell through and I ended up with Octopus, but I'm pleased to know yours worked out and Logicor haven't gone bust.

Hi.  I am with this company and paying 15p per day and 15p per KwH.  The contract is coming to an end in August.  I have been going through the posts here about the price cap and trying to figure out what will happen to my payments come August.  I use about 2000 units each year and pay them £31.

Yes, electricity prices have soared since August last year. The current capped variable tariff is roughly double what you're paying at the moment, and is expected to rise again in October.

It seems that I would need to pay about £100 per month when I move to the standard variable rates instead of £31 but I am not sure if I am calculating this correctly, is anyone able to offer advice on this for me?

• Current cap approx. 28p/kWh + 45p/day SC - your bill becomes £720/yr, £60/month.
• October cap approx. 42p/kWh + 45p/day SC  -your bill becomes £1000/yr, £85/month.
  

There aren't any fixed rates on offer cheaper than the current cap. Some people have switched to Octopus and taken their "Tracker V3" tariff which is capped at 40p/kWh plus 45p/day SC. Or there's Green Energy UK's "Sparkling" 12-month fixed tariff which is currently 39p/kWh and 43p/day SC.

• Octopus Tracker - your bill becomes £960/yr, £80/month.
• GEUK Sparkling - your bill becomes £940/yr, £78/month.

Whatever option you choose, it's going to cost a lot more than you're currently paying.

TonySimon

Hi, excellent information @QuizB, many thanks. 

pochase

At least for this year you should not be much worse off, maybe even better off.

I assume you already received the £150 council tax rabat, and there will be a £400 energy grant in October. So £372 you currently pay plus the £550 = £922. That leaves only £78 to be covered by you. Even less as the first month will be at the current SVT.

If you are on means tested benefits you will even get another £650.

manorman

>TonySimon..any developments with Logicor since your initial post. Would interested to hear..as I get very little correspondence from them and my tariff ends mid September.

thanks