Sainsbury's Energy Renewal. Confused.

tux900

I think we'll have to see exactly how Sainsbury's will be implementing the cap for those on this fix as, as far as I am aware, there is still some ambiguity as to exactly how those with fixes 'way above' the cap will fare if they're still left above it after the prescribed discount. Even if they drop it down to the cap there may still be benefit in staying on the discounted cap in case there's any reversal of the approach by the government within the next 12 months as it may give us a useful backstop. 

drlabman

I've chosen SRV20 and it starts on 1st Oct.  As of a couple of days ago I see in my online account that my new DD will now be £232 instead of £298 - which is the gov'ts £66 monthly refund for 6 months.  Still expecting a further update from Sainsbury's when they figure in the new price cap.

SlinkyWeevil

drlabman said:

I've chosen SRV20 and it starts on 1st Oct.  As of a couple of days ago I see in my online account that my new DD will now be £232 instead of £298 - which is the gov'ts £66 monthly refund for 6 months.  Still expecting a further update from Sainsbury's when they figure in the new price cap.

I’ve checked mine today and my new monthly payment has reduced by £4 to £379.98, but it looks like the tariff I signed up to hasn’t been applied properly as it’s only showing a fixed tariff for electric and not gas AND it’s now saying my payment each month will be one amount on the 1st and another amount on the 2nd.  So I’m calling them tomorrow to ask what on Earth is going on. 

gndalph

mala_m said:

Just wondering if anyone else here signed up to v20 and how it compares to govt freeze, mine is due to start 1st Oct but I'm not sure whether to stick with it or move:

Electricity

1 Year Smooth Renew v20 Direct Debit version

Starting on 05/10/2022

Fixed term ends 05/10/2023

61.30p/kWh37.92p/day

(All rates inc. VAT)

Gas

1 Year Smooth Renew v20 Direct Debit version

Starting on 05/10/2022

Fixed term ends 05/10/2023

15.09p/kWh27.22p/day

(All rates inc. VAT)

Any thoughts /advice hugely appreciated!

The govt freeze has electricity at 34p and gas at 10.3p maximum. Much cheaper than your fix, so not something I would stick with. 

SlinkyWeevil

gndalph said:

mala_m said:

Just wondering if anyone else here signed up to v20 and how it compares to govt freeze, mine is due to start 1st Oct but I'm not sure whether to stick with it or move:

Electricity

1 Year Smooth Renew v20 Direct Debit version

Starting on 05/10/2022

Fixed term ends 05/10/2023

61.30p/kWh37.92p/day

(All rates inc. VAT)

Gas

1 Year Smooth Renew v20 Direct Debit version

Starting on 05/10/2022

Fixed term ends 05/10/2023

15.09p/kWh27.22p/day

(All rates inc. VAT)

Any thoughts /advice hugely appreciated!

The govt freeze has electricity at 34p and gas at 10.3p maximum. Much cheaper than your fix, so not something I would stick with. 

According to their website, they are introducing a floor on their fixed tariffs to bring them in line with the price cap, but the numbers don’t add up for me and I’ll still be paying more than the price cap judging by this…

https://www.sainsburysenergy.com/epg.html

GreenCustomer

The EON next EPG info page contains this extra paragraph not shown on Sainsbury info.

"For the small number of customers who fixed at a high rate exceeding the October Ofgem price cap of £3,549 (£3,674 paying on receipt of bill), they will receive the full discount of 16.998p for electricity and 4.2p for gas. To make sure that those customers also benefit from the EPG we will bring their fixed price down to be in line with the government's £2,500 average threshold."

Astria

mala_m said:

Just wondering if anyone else here signed up to v20 and how it compares to govt freeze, mine is due to start 1st Oct but I'm not sure whether to stick with it or move:

Sainsbury's will apparently have "some information" "on or before 30th September", or you can switch now to the SVT. You'll lose out on any Nectar points however, but if all they do is knock 17p off, the SVT is still far cheaper currently.

benny5

Astria said:

mala_m said:

Just wondering if anyone else here signed up to v20 and how it compares to govt freeze, mine is due to start 1st Oct but I'm not sure whether to stick with it or move:

Sainsbury's will apparently have "some information" "on or before 30th September", or you can switch now to the SVT. You'll lose out on any Nectar points however, but if all they do is knock 17p off, the SVT is still far cheaper currently.

I’m on the V21 Tariff. Taking into account the S/C difference between the fix and the new rate coupled with the discount of 16.998p/4.2p, I’m marginally better off on the fix. 

I'm waiting for confirmation from Sainsburys on actual rates (phoned today but gave up after a lengthy wait) before deciding.

SlinkyWeevil

Me again…

Received no communication from them or clarification so let it roll onto the fixed rate I’d signed up for, but upon checking my account it now says I don’t have a gas contract at all with them, and they’ve not taken the direct debit this month (should have gone out Monday as set to 1st of the month).  Anyone else found the same? 

tux900

SlinkyWeevil said:

Me again…

Received no communication from them or clarification so let it roll onto the fixed rate I’d signed up for, but upon checking my account it now says I don’t have a gas contract at all with them, and they’ve not taken the direct debit this month (should have gone out Monday as set to 1st of the month).  Anyone else found the same? 

Yeah I think things are pretty screwed up at the moment. My DD didn't come out this month either and the online account seems all over the place in terms of content. I think we'll just have to let the dust settle before we learn exactly what we're going to be paying going forwards.