IMPORTANT NEWS FOR THOSE ON ENERGY FIXES

Doc_N

What an utter shambles this is, just like everything under the Conservatives for the last few years. Are they absolutely incapable of organising anything other than illegal parties?

Inigo_Montoya

[Deleted User] said:

Inigo_Montoya said:

Not surprised by this at all  - will now be switching back to the SVR this evening as there is no exit fee in my case & I can do it myself online 

I know its not official yet but the likelihood of Martins tweet being incorrect is vanishingly small IMO

Have you been reading this board lately?  Martin has been fed some duff information recently that he's had to quickly correct.

Yep I have - personally I just think this is highly likely to be the correct info this time which is why I added the phrase "IMO"

brewerdave

Had it "confirmed" on chat today with EDF that I WOULD be charged the exit fee to move my gas on to the SVR now from my fix BUT BG's email said they would let me move the leccy without any fee. - has anyone had a different answer from EDF ??

K2rool

It's probably correct the rates are getting lowered only to the cap, in my own opinion it did sound a bit too good to be true with the discount the unit price might be lower than the new cap.

A question on behalf of a friend he currently on a fix with GEUK let say it only lowered to the cap she eligible for warm homes discount which GEUK only offers to core group which she isn't, anyone know any energy supplier still accepting new customer on svr

Steve_79_P

I think Octopus still are but would need a good reason (sounds like they have one with warm home discount) and you need to ring up to get switched (which might take forever given all that's going on at the moment). I have no idea what octopus stance is on warm home discount though.

bristolleedsfan

Steve_79_P said:

. I have no idea what octopus stance is on warm home discount though.

https://octopus.energy/blog/warm-home-discount/

Inigo_Montoya

One thing that just occurred to me 

I assume its possible that the unit rate on your fix will reduce to the cap BUT that the standing charge will stay the same especially if its lower  i.e. you could still potentially keep the lower standing charge on your fix   ?

If so then that slightly complicates matters in terms of switching to the SVR now rather than waiting for the discount to kick in automatically on October 1st

You would end up paying a bit more till October 1st but then a bit less for the remaining term of your fix - however given its only pennies difference per day in the standing charge the difference is probably negligible 

edit : in my case (electric only) I would save about £20 from october till next july if the standing charge remained lower so paying 10p extra for each kwh till end of  september will be the slightly cheaper option (I would have to use more than about 200kwh from now till end of september i.e. 11 kwh per day before it became the more expensive option)

luckwudaveit

Shambles. Lured in to a fix because of increases coming and have now been paying over the odds since May. That's 4 months. 

mmmmikey

Inigo_Montoya said:

One thing that just occurred to me 

I assume its possible that the unit rate on your fix will reduce to the cap BUT that the standing charge will stay the same especially if its lower  i.e. you could still potentially keep the lower standing charge on your fix   ?

If so then that slightly complicates matters in terms of switching to the SVR now rather than waiting for the discount to kick in automatically on October 1st

You would end up paying a bit more till October 1st but then a bit less for the remaining term of your fix - however given its only pennies difference per day in the standing charge the difference is probably negligible 

I think you make a valid point. Most of the focus has been on unit rates and not the SC. We don't know what will happen to the SC for fixes yet (just as we don't know how/if unit rates will change) and until we do nobody can say with any certainty whether there's any saving to be had by switching to SVR now.

deejaybee

luckwudaveit said:

Shambles. Lured in to a fix because of increases coming and have now been paying over the odds since May. That's 4 months. 

But you would have been feeling mighty smug on your fix while others were paying a lot more ( before the govmt intervention )

Thems the breaks i'm afraid.