Annual increase of £4250.55 for gas and electric can't be right! Can it? : (

AngieStewart

Hi everyone

I buy my gas and electricity from Out Fox The Market and have been on the Super Fix'd 12m Aug21 v2 tariff, which is due to end on the 27th August 2022. It totals £1246.27 a year. I have no arrears, small credit and put meter readings in monthly. 

I now have my renewal tariff from them, which is the Fix'd X 22 7.0. I was expecting a whopping increase, but the jump is to £5496.82. I am doing my homework before I call them and wondered if anyone can tell me if this is the new normal? Are there any key phrases I can say when I call and although everything online is telling me to stick with the tariff recommended by my existing energy company, is this the best thing to do with such a huge rise? 

Thanks for your help. 

Angie x

pochase

Yes that is quite possible that you would pay that on their fixed tariff. Outfox  the Market has a fixed tariff that is incredible high, much higher than the expected new SVT from October. Don't sign up for it!!!

Without knowing your usage figures I would estimate that you cost will easily triple, £4000 plus as your new  cost is very likely.

If you post some information about the unit rates offered to you and your usage over a 12 month period we can give you more advise.

fergie_

You need to look at your actual usage and compare the unit rates. Assuming usage is the same and billing is correct, I'd expect them to factor in the expected October jump - so could easily see a bill of 3-4k. The amount they have quoted seems excessive though for a fix compared to last summer. So need to check the usage they are including and then decide if you wish to fix or hope the variable cap will be better.

Ballymoney

Can you give us accurate usage figures for the previous 12 months and the unit / SC prices of the tariff you have been offered so we know what your predicted payments are based on?

We’ll then be able to give you better advice.

si_74

AngieStewart said:

Hi everyone

I buy my gas and electricity from Out Fox The Market and have been on the Super Fix'd 12m Aug21 v2 tariff, which is due to end on the 27th August 2022. It totals £1246.27 a year. I have no arrears, small credit and put meter readings in monthly. 

I now have my renewal tariff from them, which is the Fix'd X 22 7.0. I was expecting a whopping increase, but the jump is to £5496.82. I am doing my homework before I call them and wondered if anyone can tell me if this is the new normal? Are there any key phrases I can say when I call and although everything online is telling me to stick with the tariff recommended by my existing energy company, is this the best thing to do with such a huge rise? 

Thanks for your help. 

Angie x

It really helps to have your annual usage in kwh for both gas and electric. If you put that on here then your approximate yearly bill can be worked out based on the current cap, and what it looks likely to be in October. Also if you have your current (with the fixed tariff) kwh rate for each and the standing charge then it should be easy enough to find out if your increase is realistic.

Mstty

Hello and welcome to the forum

This is not unusual for people to post first time when they receive this terrifying unexpected increase.

Outfox the market are not known for their good fix rates at this time and there are very few options to switch and fix. 

As others have suggested about what is your usage in kWh and what price per kWh are you being offered on the fix deal and the standing charges.

AngieStewart

Thank you so much everyone... I really appreciate your help with this. Here is my tariff information. Anything else I can provide, please don't hesitate to ask...  

Existing tariff and useage

Tariff name: Super Fix'd 12m Aug21 v2 - 12 months, Direct Debit. Electricity unit rate: £0.179 per kWh. Electricity Standing Charge; £0.27 per day. Aug 21 - July 22-  2069.91 electricity usage

Gas Unit rate: £0.032 per kWh. Gas Standing Charge; £0.316 per day.  Aug 21 - July 22- 16780.81 gas usage. 

I am in credit of £195.38

New fixed tariff

Estimated annual cost is based on the consumption values you entered. This is an estimate and the actual cost may vary dependant on your actual usage. If your usage changes, this will be reflected in your annual cost and monthly Direct Debit.

Tariff name: Fix'd X 22 7.0. Tariff type: Fixed. Tariff term: 12 months. Payment method: Direct debit. Electricity unit rate: £0.620 per kWh. Electricity standing charge: £0.494 per day. Gas unit rate: £0.192 per kWh. Gas standing charge: £0.328 per day. Exit fees: £150.00.

Evan3020

Even the SVR from October will put your leccy up by 150% and your gas by almost 300% so cutting back is your best option.
Your electricity consumption looks good as its below normal but your gas is a little high but not by much.
This is the new reality unfortunately.

Evan3020

The new fix you have been offered is expensive on the gas as it is 6 times what you are currently paying.!!!!!!!!!!!!!

Ballymoney

That new tariff is terrible. You’d be better off going on to the variable capped rate right now from what I’ve read re. the predicted rates will be on Oct 1st.

theoretica

AngieStewart said:

Hi everyone

I buy my gas and electricity from Out Fox The Market and have been on the Super Fix'd 12m Aug21 v2 tariff, which is due to end on the 27th August 2022. It totals £1246.27 a year. I have no arrears, small credit and put meter readings in monthly. 

I now have my renewal tariff from them, which is the Fix'd X 22 7.0. I was expecting a whopping increase, but the jump is to £5496.82. I am doing my homework before I call them and wondered if anyone can tell me if this is the new normal? Are there any key phrases I can say when I call and although everything online is telling me to stick with the tariff recommended by my existing energy company, is this the best thing to do with such a huge rise? 

Thanks for your help. 

Angie x

This is not quite true - most things online are telling you to stick with the default variable tariff - what your energy company have to put you on if you don't sign up for anything specific.  So the general advice is to stick with your existing energy company - but not any tariff they recommend.  Just let your current deal expire and do nothing.