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Fixed but threatened with withdrawal of fix
HelloAs you may have heard in the news, the energy regulator, Ofgem is expected to announce the new price cap later this week. This means customers who are on standard variable tariffs will pay more for their energy from October. We wanted to reassure you that this price rise won’t affect you because you are on a fixed tariff until June 2023. Being on a fixed tariff means the unit price and standing charge for your energy are exactly that – fixed. You’re fully protected against price rises for the length of your contract and your bill will only go up if you use more energy. We know this is a really challenging time for lots of people, so we hope this update brings you a little peace of mind. |
What happens nowYou don’t need to do anything. We’ll be in touch again before your tariff ends in June 2023. |
Comments
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That's not what they are saying.
Your bill will go up the more energy you use, your unit rate will not.4 -
Indeed. The fix is the unit cost, and there's no threat to change that at all.
"Being on a fixed tariff means the unit price and standing charge for your energy are exactly that – fixed."0 -
Welcome to the forum.
Where exactly are they threatening you with withdrawal of the fixed tariff?
They are just telling you that if you use more energy your bill will go up, which should be clear in itself. Or did you think it is "all you can eat" electricity?0 -
Hi,fixed tariff means unit rate and standing charge are fixed, the more you use the more you pay.1
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I don't read that as a threat of any sort. It's simply that if you use more energy you will be charged for that but at your fixed rate. So no withdrawal but simply a warning that your DD may need to increase to keep pace with the amount you use.I’m a Forum Ambassador and I support the Forum Team on Debt Free Wannabe and Old Style Money Saving boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
"Never retract, never explain, never apologise; get things done and let them howl.” Nellie McClung
⭐️🏅😇2 -
What they are saying is that you pay a fixed standing charge of x per day and a unit rate of y per KWh you use.
If your unit rate is 40p and you use 1000KWh you will pay £0.4 x 1000 = £400, If you use 10000KWh you will pay £0.4 x 10000 = £4000.1 -
Welcome to the forum.kjh511 said:They say (as copied below) I am safe as long as my electricity usage does not increase. I did not sign up to such a clause and i recently bought an electric vehicle which will increase my usage. Is this lawful?As others have said, you've fixed your daily standing charge and unit price. You haven't fixed your bill, this isn't an all-you-can-eat deal.If you use more units, you pay more.On the other hand, if you use fewer units, you pay less.
N. Hampshire, he/him. Octopus Intelligent Go elec & Tracker gas / Vodafone BB / iD mobile. Ripple Kirk Hill member.
2.72kWp PV facing SSW installed Jan 2012. 11 x 247w panels, 3.6kw inverter. 33MWh generated, long-term average 2.6 Os.Not exactly back from my break, but dipping in and out of the forum.Ofgem cap table, Ofgem cap explainer. Economy 7 cap explainer. Gas vs E7 vs peak elec heating costs, Best kettle!1 -
kjh511 said:I did not sign up to such a clause and i recently bought an electric vehicle which will increase my usage. Is this lawful?Remember the saying: if it looks too good to be true it almost certainly is.0
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Think the OP has probably had it explained enough times now without any more repetition needed from anyone else.Not the first to make that mistake and probably won’t be the last.All shall be well, and all shall be well, and all manner of things shall be well.
Pedant alert - it's could have, not could of.4 -
It could prove to be quite an expensive ‘schoolboy error’ if the OP thought that he was going to get free electricity for his EV.
Seriously, the OP now needs to review his future usage and check to see whether an EV tariff - such as Go or Go Faster offered by Octopus - would lead to a cheaper overall electricity cost. Plan on 3miles/kWh as a starter - EVs are notoriously power hungry when it gets cold.
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