Options for new build

seanfos

We are one month into our new build home and have gas and electric with Scottish Power, have been billed once so far and I have paid this manually online. I am now looking at tariffs and could do with some guidance on what option to choose. Currently my online account shows:

Standard Variable

Electric

Standing charge 47.58p
Primary unit rate 29.58p

Gas

Standing charge 27.22p
Primary unit rate 7.37p


1 Year Flexi Price Tariff

Electric

Standing charge 47.58p
Primary unit rate 53.65p
Exit fee £150.00

Gas

Standing charge 27.22p
Primary unit rate 17.11p
Exit fee £150.00

With such large exit fees for fixing I am considering staying on variable, but moving to direct debit, and putting money aside each month in savings in preparation for the winter months.  Once we and Scottish Power have a better idea of our utilisation then I can try and look for a better deal

Any thoughts or guidance please?

Many thanks

Sean

Mstty

Those prices are quite frankly daylight robbery from Scottish Power

Consider a switch and fix with green energy, they are offering prices below the expected October price cap and no exit fees 

https://www.greenenergyuk.com/

seanfos

Thank you for replying. I have already looked at Green Energy UK as I saw them recommended elsewhere, but when I put my postcode in they don’t show any prices or tariff details. They will allow me to signup online, but I can’t do that without details first. If I put my old postcode in everything works, so it is an issue with it being such a new property

Sean

Mstty

Contact them by phone? They will be used to new build developments with no address on their current address database.

seanfos

Sorry, should have added I will be contacting them directly to discuss this today.  Should I be looking for a fixed deal with them?  Any particular tariffs/deal or just anything that will beat Scottish Power?

Thanks

Sean

Mstty

Most are looking at their fixed sparkling tariff fixed til September 2023

It works out roughly 15% cheaper on electricity than the expected price cap rise in October and 20% cheaper on gas.

No exit fees should that rise not happen or another deal pop up elsewhere to switch to.

seanfos

Excellent, thank you again. I’ll see what they say

Sean

seanfos

Spoke to GEUK today - amazing to have a call to an energy supplier answered in a couple of minutes instead of the usual hour wait!  They have given me the following figures for their Sparkling Tariff:

Electric

Standing charge 47.58p
Primary unit rate 39.85p

Gas

Standing charge 31.31p
Primary unit rate 11.75p


They also gave an estimated monthly cost example based on standard usage in similar sized properties. Seems to be a good option, as unit rates are a lot better than what Scottish Power will offer me

Sean

MWT

seanfos said:

Spoke to GEUK today - amazing to have a call to an energy supplier answered in a couple of minutes instead of the usual hour wait!  They have given me the following figures for their Sparkling Tariff...

Just keep in mind that if you go with this deal you need to check your options carefully when you get close to the end of the fixed period, as this supplier has a permanent derogation from the Ofgem cap, so their variable tariff is not limited by the cap, and they of course have no obligation to offer a similar reasonable priced fix in the future.

So you may have to deal with switching elsewhere at the end of the fix...

seanfos

MWT said:

So you may have to deal with switching elsewhere at the end of the fix...

Thank you, I am aware of this but definitely something to keep in mind. Hopefully a reasonable option to move to now (assuming we have no switching issues) and then we can keep an eye on the market

Sean