GEUK newbie customers - What are you doing?

The_Green_Hornet

What_time_is_it said:

So, for what it's worth, I'm going to stick with GEUK.

I'm paying a very small amount (about 2p a day) extra on the standing charges now vs the EPG.
BUT, staying with them does come with the extra safety net that if the EPG goes up in January I will still have the fix rates I signed for up locked in as a maximum. 

I'm happy with that arrangement.

I too am going to stay with them, at least until the end of my fix.

EssexHebridean

Realistically even if the EPG rates did increase now what I can get from EDF in terms of the night rate is still going to be hugely cheaper for us - the difference is something close to £400 which on a sub-£1500 annual spend is a substantial percentage. It was worth me changing originally as first it got me away from UW, and secondly the difference at the time was worth it for not being with EDF, who, through choice, I'd sooner avoid being totally tied to for our energy, but needs must, and I can't justify paying quite so much extra across the year! 

What_time_is_it

If I was in the same position as you @EssexHebridean, I would do exactly the same.

What_time_is_it

wittynamegoeshere said:

Perhaps I was a little bit of an early bird with GEUK, as I have a standing charge of 44.74p, which I'll be paying instead of the 46p everyone else pays.  So I'll be in profit by 1.26p per day or a whopping £4.60 per year.

Besides, I'm currently paying £0 per day and £0 per unit as they don't seem to know I exist, no bills at all despite me having an online account and having provided 4 meter readings.  I'm very happy with this arrangement.

Definitely no email about the change here, I have spam filtering completely off.  It's sometimes good to be ignored.

This sounds like a really low rent version of The Sixth Sense.

stuartjb

I got my email - Electricity brought down to 35.79p/kWh and standing charge kept at 32.14p (I locked in pretty early). 

The thing I'm not quite getting is that on the gov.uk website it states that the EPG unit rate is "34.0p/kWh inclusive of VAT".  So the 35.79p/kWh quoted by GE has added 5% VAT to the 34.0p/kWh EPG which should already that account for VAT. Is the same for everyone else? Am I missing something here, or are we being overcharged by 5%?

[Deleted User]

stuartjb said:

I got my email - Electricity brought down to 35.79p/kWh and standing charge kept at 32.14p (I locked in pretty early). 

The thing I'm not quite getting is that on the gov.uk website it states that the EPG unit rate is "34.0p/kWh inclusive of VAT".  So the 35.79p/kWh quoted by GE has added 5% VAT to the 34.0p/kWh EPG which should already that account for VAT. Is the same for everyone else? Am I missing something here, or are we being overcharged by 5%?

You are missing something. 

The 34p rate is an average of the rates in every region and yours will be different to this.  Plus GEUK doesn't actually have to stick to the cap, so if they decided a different number it wouldn't be overcharging anyway.

seanfos

What_time_is_it said:

So, for what it's worth, I'm going to stick with GEUK.

I'm paying a very small amount (about 2p a day) extra on the standing charges now vs the EPG.
BUT, staying with them does come with the extra safety net that if the EPG goes up in January I will still have the fix rates I signed for up locked in as a maximum. 

I'm happy with that arrangement.

I think this is my conclusion also. I'm not going to save a significant sum by moving again, so may as well hold on now and see how things look with the new rates and the monthly credit. I can always move in a few months if I’m unhappy

Sean

[Deleted User]

wittynamegoeshere said:

[Deleted User] said:

stuartjb said:

I got my email - Electricity brought down to 35.79p/kWh and standing charge kept at 32.14p (I locked in pretty early). 

The thing I'm not quite getting is that on the gov.uk website it states that the EPG unit rate is "34.0p/kWh inclusive of VAT".  So the 35.79p/kWh quoted by GE has added 5% VAT to the 34.0p/kWh EPG which should already that account for VAT. Is the same for everyone else? Am I missing something here, or are we being overcharged by 5%?

You are missing something. 

The 34p rate is an average of the rates in every region and yours will be different to this.  Plus GEUK doesn't actually have to stick to the cap, so if they decided a different number it wouldn't be overcharging anyway.

They were excluded from the previous cap as they're an eco supplier, but I haven't seen anything to state that they're now excluded from the EPG, which is stated to apply to "All households".

That's a really good point actually - I think I've just been assuming it because the guidance was roughly "we're using the OFGEM scheme but changing the numbers" when it was first announced.

Thinking about the actual published details, I don't think I've seen anything confirming that they are excluded either. GEUK seem to say on their website that they consider themselves included in it, and neither Good Energy or Ecotricity appear to say anything at all.

EssexHebridean

I believe it is Good Energy who have already confirmed prices that are above the EPG? 

[Deleted User]

EssexHebridean said:

I believe it is Good Energy who have already confirmed prices that are above the EPG? 

At least one poster here who is supplied by Good Energy indicated this was true, but nothing official from the supplier afaik.