Sainsbury's SRv20 - Any news?

drlabman

I opted for the Smooth Renew v20 a few weeks ago - due to start Oct 1st at £298 a month.  The only other option at the moment is their SVT at £278 a month.  Should we be expecting to hear from Sainsbury's regarding a reduction in the SRV20 tariff?

GreenCustomer

Same here. SRv20 due to start Oct 2nd.

This shows on the "choose  tariff" section on online account:

"The prices shown here don’t yet include the government’s Energy Price Guarantee (EPG) unit rate reduction – we’re working on getting these changed as fast as we can. But don’t worry, you won’t be charged these prices - you’ll get the reduced EPG prices on your bill."

GreenCustomer

Also from Sainsbury Energy website:

https://www.sainsburysenergy.com/epg.html

"We will adjust fixed tariffs automatically. Customers on fixed tariffs do not need to take any action to get the benefits of this scheme. We are contacting customers directly, over the coming days, to confirm what the Energy Price Guarantee (EPG) means for them and how, together with the Energy Bill Support Scheme (EBSS), it will affect their bills."

grn99

And yet on that same webpage they still have this...
"Ofgem's price cap.
Ofgem has announced that from 1 October 2022, the price cap for customers on a standard variable tariff will increase to £3,549 if they pay by Direct Debit and to £3,764 if they pay any other way. For customers with a prepayment meter, the price cap will increase to £3,608.

In August 2022, Ofgem announced that the review period for the price cap will be reduced from six months to every three months (quarterly). This review period has now been frozen by the government with the announcement of the Energy Price Guarantee scheme that will run for two years."

I think they need to update and review the entire page not just bits here and there.

drlabman

GreenCustomer said:

Same here. SRv20 due to start Oct 2nd.

This shows on the "choose  tariff" section on online account:

"The prices shown here don’t yet include the government’s Energy Price Guarantee (EPG) unit rate reduction – we’re working on getting these changed as fast as we can. But don’t worry, you won’t be charged these prices - you’ll get the reduced EPG prices on your bill."

Ah yes - I hadn't scrolled down far enough.  Thanks.

GreenCustomer

My Sainsbury account is now showing an adjusted Direct Debit calculation at the EPG  rates. (From £162 to £102) The tariff information section is unchanged at the moment.
Edit:
Oops..
It is actually a recalculation of DD to include £67 reduction nothing to do with EPG adjustment.(£169 to £102).

enomis

There are a lot of "words" on their EPG help and support page - https://www.sainsburysenergy.com/epg.html but still no real details imo. Not sure when this update came but I noticed it yesterday. Hopefully they will contact us early next week...

jaxkesa

They really ought to contact customers. Their website has said they will be doing so "over the coming days" for 2 weeks now.

I'm currently paying £90 a month and always in credit. When my SRv20 starts, it says "From 07/10/2022, you'll be paying £204.92 Each month on the 1st and from 01/10/2022, you'll be paying £23.00 Each month on the 1st".

If I try to switch to SVR it says I'll pay £248 a month. Not sure if I should be ditching the SRv20 or not.

drlabman

GreenCustomer said:

My Sainsbury account is now showing an adjusted Direct Debit calculation at the EPG  rates. (From £162 to £102) The tariff information section is unchanged at the moment.
Edit:
Oops..
It is actually a recalculation of DD to include £67 reduction nothing to do with EPG adjustment.(£169 to £102).

Mine is the same - adjusted down from £298 to £232, which is suspiciously £66 less.  I can only assume there's another adjustment coming, but they're awfully slow.  My new tariff takes effect on 1st Oct.

mala_m

I’m so glad I found this thread we have the same issue due to switch tariff 1st October and have a reduction in the DD amount but the standing charges are way higher than the cap 

Astria

mala_m said:

I’m so glad I found this thread we have the same issue due to switch tariff 1st October and have a reduction in the DD amount but the standing charges are way higher than the cap 

Spoke to CS yesterday as they seem to be taking a very long time about this and apparently will have "some information", "on or before 30th September". Gee thanks EON.