Ecotricity & Price cap freeze?

Leigh-Anne_60

Hi 

Does anyone know how Ecotricity customers will be affected by the price cap freeze? They are of course not subject to the cap due to their Green Energy status, so would make sense that they are not subject to the freeze? Can see on the website they have confirmed the £400/6 months credit but nothing about the freeze

Also, if this is the case, are there any alternative providers currently taking on?

TIA

QrizB

There's nothing official yet.

It seems likely to me that Ecotricity, GEUK and Good Energy customers will get the same 17p/kWh elec / 4.2p/kWh gas subsidy as other customers on uncapped tariffs are being offered, subject to the same conditions. (Conditions that haven't yet been published.)

But until the government settle all the details of the scheme, we won't know.

Leigh-Anne_60

Many thanks for your input Qriz, will watch out for clarification 

SavvySurrey

I spoke to Ecotricity this morning as my uni student son and friends have just moved into a property they supply. They have no gas and so use an Economy 7 tariff. Ecotricity told me that they will be issuing new prices on October 13th.

Now, I'm not au fait with Ecotricity and was "shocked" to learn that their prices are not subject to the coming price cap . Obviously, I am now keen to "help" the uni students decide whether they stick with Ecotricity or not. There's the issue of the economy 7 tariff and whether there may be better options elsewhere, and the lack of a price cap. The Ecotricity customer service person was "talking up" prices because of general inflation and their need to sustain their investment plans in renewable sources. We all know the variable cost of producing renewable energy must now be considerably less than that of fossil fuels. I'm curious to know what others with more experience of Ecotricity and other 100% renewable firms think about their likely pricing strategy in the coming months.

Should my son and friends switch away from Ecotricity as there must already be better economy 7 options available elsewhere? How is Ecotricity likely to reprice their energy given the coming price cap elsewhere? Thanks 

QrizB

There's no definite answer, but it;s likely that switching away will be a good idea financially (even if it's going to be to a less green supplier which might bother them ethically - or might not).

The usual recommendations for switching are EDF or Octopus as other suppliers are generally turning new customers away. In both cases you need to phone them, they're not taking switches via their websites.