IMPORTANT NEWS FOR THOSE ON ENERGY FIXES

Ultrasonic

goldygash said:

Hi, I am so confused, so please could someone help Put my parents on a 1 year fix in June which is more expensive than the current SVT and Oct Cap. Email last week said they come out of fix penalty free. Tried to do online but the exit fee was still there, so thought it best to chat to BG so they could do.

this is now where I am confused …. They have advised me to keep them on the current fix, as there will be a probable price rise in April. I said that I thought the Oct cap was guaranteed for 2 years,  so she went off and spoke to supervisor and still came back advising to stay on fixed.

Any ideas? Should I just move them back to the SVT? 

Just to be certain, do you mean more expensive than the Ofgem October cap, or possibly the new EPG 'cap' announced last week?

Astria

goldygash said:

QrizB said:

goldygash said:

Any ideas? Should I just move them back to the SVT? 

It's your parents' choice, but personally I wouldn't stick with a fix that's higher than the October Ofgem cap.

That’s my view too. It just caught me off guard with talk about prices going up in April. Thought I’d missed something.

At one point someone mentioned a review on the 31/12, but since then the price cap has been removed and replaced with the price guarantee (which is apparently similar to the cap but different in some way) for 2 years, so I don't think we'll be seeing a price cap change in either January nor April, so good luck increasing prices.

[Deleted User]

Astria said:

goldygash said:

QrizB said:

goldygash said:

Any ideas? Should I just move them back to the SVT? 

It's your parents' choice, but personally I wouldn't stick with a fix that's higher than the October Ofgem cap.

That’s my view too. It just caught me off guard with talk about prices going up in April. Thought I’d missed something.

At one point someone mentioned a review on the 31/12, but since then the price cap has been removed and replaced with the price guarantee (which is apparently similar to the cap but different in some way) for 2 years, so I don't think we'll be seeing a price cap change in either January nor April, so good luck increasing prices.

The initial contracts between the government and the suppliers run from 1 Oct to 31 Dec - so there will be some sort of review prior to that - but we've been promised that the cap won't change.

Up to you how strong you think that promise is.

Zaul22

From the updated .gov explanation:

'For the small number of consumers who fixed at a high rate exceeding the October Ofgem price cap of £3,549, they will receive the full discount of 17p for electricity and 4.2p for gas. However, given the higher starting point, their fixed rate tariff will still have a unit rate that is above the EPG rates. This will ensure that a fair price is paid by everyone.'

How in the hell is that 'fair'???

goldygash

Ultrasonic said:

goldygash said:

Hi, I am so confused, so please could someone help Put my parents on a 1 year fix in June which is more expensive than the current SVT and Oct Cap. Email last week said they come out of fix penalty free. Tried to do online but the exit fee was still there, so thought it best to chat to BG so they could do.

this is now where I am confused …. They have advised me to keep them on the current fix, as there will be a probable price rise in April. I said that I thought the Oct cap was guaranteed for 2 years,  so she went off and spoke to supervisor and still came back advising to stay on fixed.

Any ideas? Should I just move them back to the SVT? 

Just to be certain, do you mean more expensive than the Ofgem October cap, or possibly the new EPG 'cap' announced last week?

On with them again now. They won’t let me go back down to the current SVT, despite email saying I could. The rates from Oct are ….

details are for gas and then electricity Tariff End Date: N/A N/A 
Unit Rate: 33.018 p perkWh, 10.237 p per kWh 
Standing Charge: 45.769p per day, 28.485 p per day 

this is cheaper than current fix, so just changing it now.

PennineAcute

goldygash said:

Ultrasonic said:

goldygash said:

Hi, I am so confused, so please could someone help Put my parents on a 1 year fix in June which is more expensive than the current SVT and Oct Cap. Email last week said they come out of fix penalty free. Tried to do online but the exit fee was still there, so thought it best to chat to BG so they could do.

this is now where I am confused …. They have advised me to keep them on the current fix, as there will be a probable price rise in April. I said that I thought the Oct cap was guaranteed for 2 years,  so she went off and spoke to supervisor and still came back advising to stay on fixed.

Any ideas? Should I just move them back to the SVT? 

Just to be certain, do you mean more expensive than the Ofgem October cap, or possibly the new EPG 'cap' announced last week?

On with them again now. They won’t let me go back down to the current SVT, despite email saying I could. The rates from Oct are ….

details are for gas and then electricity Tariff End Date: N/A N/A 
Unit Rate: 33.018 p perkWh, 10.237 p per kWh 
Standing Charge: 45.769p per day, 28.485 p per day 

this is cheaper than current fix, so just changing it now.

I am assuming you have knocked off 17p from the elec UP and 4p from the gas UP, before you have made that decision?

goldygash

Ultrasonic said:

Just to be certain, do you mean more expensive than the Ofgem October cap, or possibly the new EPG 'cap' announced last week?

The EPG cap

goldygash

PennineAcute said:

goldygash said:

Ultrasonic said:

goldygash said:

Hi, I am so confused, so please could someone help Put my parents on a 1 year fix in June which is more expensive than the current SVT and Oct Cap. Email last week said they come out of fix penalty free. Tried to do online but the exit fee was still there, so thought it best to chat to BG so they could do.

this is now where I am confused …. They have advised me to keep them on the current fix, as there will be a probable price rise in April. I said that I thought the Oct cap was guaranteed for 2 years,  so she went off and spoke to supervisor and still came back advising to stay on fixed.

Any ideas? Should I just move them back to the SVT? 

Just to be certain, do you mean more expensive than the Ofgem October cap, or possibly the new EPG 'cap' announced last week?

On with them again now. They won’t let me go back down to the current SVT, despite email saying I could. The rates from Oct are ….

details are for gas and then electricity Tariff End Date: N/A N/A 
Unit Rate: 33.018 p perkWh, 10.237 p per kWh 
Standing Charge: 45.769p per day, 28.485 p per day 

this is cheaper than current fix, so just changing it now.

I am assuming you have knocked off 17p from the elec UP and 4p from the gas UP, before you have made that decision?

I thought the EPG was the floor?

QrizB

Zaul22 said:

How in the hell is that 'fair'???

It's fair because all those customers will have the option of cancelling their fixes and reverting to the capped SVT.

If they choose to stay on the fix, for their own reasons, they will be choosing to pay more than the cap.

PennineAcute

goldygash said:

PennineAcute said:

goldygash said:

Ultrasonic said:

goldygash said:

Hi, I am so confused, so please could someone help Put my parents on a 1 year fix in June which is more expensive than the current SVT and Oct Cap. Email last week said they come out of fix penalty free. Tried to do online but the exit fee was still there, so thought it best to chat to BG so they could do.

this is now where I am confused …. They have advised me to keep them on the current fix, as there will be a probable price rise in April. I said that I thought the Oct cap was guaranteed for 2 years,  so she went off and spoke to supervisor and still came back advising to stay on fixed.

Any ideas? Should I just move them back to the SVT? 

Just to be certain, do you mean more expensive than the Ofgem October cap, or possibly the new EPG 'cap' announced last week?

On with them again now. They won’t let me go back down to the current SVT, despite email saying I could. The rates from Oct are ….

details are for gas and then electricity Tariff End Date: N/A N/A 
Unit Rate: 33.018 p perkWh, 10.237 p per kWh 
Standing Charge: 45.769p per day, 28.485 p per day 

this is cheaper than current fix, so just changing it now.

I am assuming you have knocked off 17p from the elec UP and 4p from the gas UP, before you have made that decision?

I thought the EPG was the floor?

goldygash  said their parents were on a fixed tariff and that this is more expensive than the EPG Cap.  I was just checking they had deducted the said figures before coming to this conclusion.