GEUK newbie customers - What are you doing?

EssexHebridean

So for those of us on E7 we just now have to wait to find out how the balance will work...fingers crossed, otherwise it'll be goodbye GE, hello EDF! 

What_time_is_it

I've still not been contacted by GEUK. 
Has anyone had an email yet? 

BUFF

Not yet but from what has been said so far on their website I expect to be on EPG rates for my region.

What_time_is_it

Thanks @BUFF

Seems likely, but I'm not clear as to what will happen with the standing charges. 

In any case, it would be nice to know for certain before 1st October wouldn't it?!

BUFF

"What about my standing charge? How will this be affected?

Average standing charges will remain in line with the levels set by Ofgem for the default tariff cap from 1st October, at 46p per day for electricity and 28p per day for gas, for a typical dual fuel customer paying by direct debit."
https://www.greenenergyuk.com/energy_price_guarantee

Yes, it would be nice to know exact figures for my region & ideally before 1/10.

[Deleted User]

Interesting new post regarding Good Energy on another thread - a supplier in a similar cap-exempt position - where the posted rates are way above EPG.

What_time_is_it

[Deleted User] said:

Interesting new post regarding Good Energy on another thread - a supplier in a similar cap-exempt position - where the posted rates are way above EPG.

The longer it goes without them contacting us, the more I suspect they may well be planning to charge above the EPG.

wittynamegoeshere

What they describe as a "floor" price is what should be correctly described as a "ceiling" price.  It's a maximum, not a minimum.  Those on fixed prices that are above it will pay the new price, those on fixes below this new price will continue to pay the lower price as before.

The use of the word "floor" implies a minimum price, which is the exact opposite of reality.

Life's complicated enough without them using the wrong words!

wittynamegoeshere

https://dictionary.cambridge.org/dictionary/english/floor-price

Floor price:  the lowest price at which a product can be sold

https://dictionary.cambridge.org/dictionary/english/price-ceiling

Price Ceiling:  an upper limit set by a government on the price that can be charged for a product or service

The dictionary is right, GEUK is using the wrong word.

EssexHebridean

Someone did say that they have heard from GE that unlike Good Energy they DO plan to go with the EPG rates, and I think this is now on their website too - I do hope so as my Mum is now planning on sticking with them now as she has nothing to lose by doing so. We're still completely up in the air though as we have no idea what affect the changes to the tariff will have on our E7 rates until they tell us. If nothing by the end of the week I think I'll instigate a switch to EDF and then use the cooling off period to cancel if needed.