Fixed rate

Linda614

I have fixed rate with shell energy for gas and electric till March 2023. My monthly bill for both is £70 should I stay with this?

[Deleted User]

That depends on your unit rates and on whatever the unit rates are on the new cap.

Chesney18

All domestic Fixed Rate contracts can benefit from the government discount ,  so worth up to £1000/year (if your total energy demand is typical).

If you fixed very low prices - you get no government subsidy (automatically, via your supplier) because you are already better off than the government "floor price".

If you fixed above the floor prices, but below the recent high Ofgem cap price, you get the subsidy to reduce you to the floor prices.

If you fixed above the recent high Ofgem cap prices, you gen the same "reduction" as the capped customers, but then not all the way down to the floor prices.  So, if you have typical energy usage, a £1000/year subsidy, but you costs wont go as low as the £2,500/year government floor cost (for price cap customers).
 

[Deleted User]

Chesney18 said:

All domestic Fixed Rate contracts can benefit from the government discount ,  so worth up to £1000/year (if your total energy demand is typical).

If you fixed very low prices - you get no government subsidy (automatically, via your supplier) because you are already better off than the government "floor price".

If you fixed above the floor prices, but below the recent high Ofgem cap price, you get the subsidy to reduce you to the floor prices.

If you fixed above the recent high Ofgem cap prices, you gen the same "reduction" as the capped customers, but then not all the way down to the floor prices.  So, if you have typical energy usage, a £1000/year subsidy, but you costs wont go as low as the £2,500/year government floor cost (for price cap customers).
 

Although it seems from my account that at least one supplier has subsidised all tariffs (however high the fix) down to the SVT level.