Fixed or SVT

StuffTheCap

Hi, I've been out of the country for the past 6 weeks and catching up on news. It looks like the October price cap has been reduced for two years?

I'm currently in a fix with GEUK, rates are:
Electric:
39.20p / kWh 
50.05p.  SC

Whereas the SVT cap for northern Scotland is set as:

33.08p / kWh

51.07p   SC

Is the October reduction set in stone for two years? As I'm considering coming off the Fix but need to know it's set in stone.

Any help is greatly appreciated ☺️

pochase

Is the above SVT one you got from Green Energy UK?

They are not bound by the cap, and I am not sure how they will handle the EPG.

[Deleted User]

The PM has said it will not change for two years.

The PM also said whilst campaigning that the old cap wouldn’t be changed, and then did it anyway within a week.

bristolleedsfan

Deleted_User said:

The PM has said it will not change for two years.

Where does it say that it will not change for two years ????  - I read  it as that it can decrease, not increase for two years.

https://www.gov.uk/government/news/government-announces-energy-price-guarantee-for-families-and-businesses-while-urgently-taking-action-to-reform-broken-energy-market

StuffTheCap

pochase said:

Is the above SVT one you got from Green Energy UK?

They are not bound by the cap, and I am not sure how they will handle the EPG.

No. It was from the MSE webpage that said the different unit rates. Yeah I forgot about that, will have to email them. But don't want to leave until something is set in stone about this 2 year reduction.

StuffTheCap

[Deleted User] said:

The PM has said it will not change for two years.

The PM also said whilst campaigning that the old cap wouldn’t be changed, and then did it anyway within a week.

Yeah that's what I'm not confident with. I don't want to leave the fix for them to go back on their word.