Am I the only one still not told about the unit prices for Gas and Electricity

Ultrasonic

PaulDesmond said:

If you cancel your fixed deal will you pay a penalty? And is the penalty worth the change. I think energy companies should be transparent with their tariffs as they were told to do. The say we don't advise switching but you should have the right to choose. Also, you should not be forced to jump through hoops by getting a comparison. If FreeBear is coming up to the end of a fixed deal, he should be allowed to shop around without running up a phone bill.

Have you already cancelled a fix? Most won't need to and would be best not doing so. If you could give us full info. on your current fix if it still exists then it would be possible for people to help you.

[Deleted User]

@PaulDesmond - don't get confused between fixed rate and fixed DD.  One is a price, the other is a payment method.

If I understand, you used to pay a fixed amount into your energy account each month, and then when there was a meter reading they took the right amount of money out of that account to cover it?

If so, that doesn't change when you move onto a variable tariff.  The only thing that has changed is that the price they charge when working out the "right amount of money" can now vary.  At the moment though, that price is the one that is capped by the EPG and won't be changing for a while anyway.

PaulDesmond

Yes I understand and. I will be paying £207 each and every month while I am only using £148 each and every month. I will just end up with a !!!!!! load of credit at the end o fit. 

Ultrasonic

PaulDesmond said:

Yes I understand and. I will be paying £207 each and every month while I am only using £148 each and every month. I will just end up with a !!!!!! load of credit at the end o fit. 

You won't be using exactly the same amount every month though. Or at least you'd be rather unusual if you didn't use more energy on heating in winter than summer...

[Deleted User]

That's probably because of where you are in the seasonal curve.  Your supplier will expect you to have around 3 months credit at this point (because you use more in winter than summer) to avoid being in debt in a few months time. If you don't have this amount of credit, they'll keep the DD above what you need until you have 'enough' in their calculation.

grn99

Latest from Sainsburys/E.ON in reply to an email I sent.... "Our system should be updated by friday with the new unit rates plus it will start to run direct debit reviews to account for the gov payments starting in October (£67)"

PaulDesmond

Your supplier will expect you to have around 3 months credit at this point 

Under the DD system with fixed system, You could fluctuate between a bit over and a bit under.

[Deleted User]

PaulDesmond said:

Your supplier will expect you to have around 3 months credit at this point 

Under the DD system with fixed system, You could fluctuate between a bit over and a bit under.

That's how it used to work - the suppliers were all told that it should now go between a lot over and zero, trying to avoid ever being under.

PaulDesmond

Okay so more interest in their bank accounts.  If that's the way it has to be then so be it. So long as they don't expect 3 months up front.

[Deleted User]

PaulDesmond said:

Okay so more interest in their bank accounts.  If that's the way it has to be then so be it. So long as they don't expect 3 months up front.

Well, some of them actually offer that as an option.  Keep the lower direct debit payment that you want, but pay a lump sum now to get 'ahead' into the correct position.