Energy rates Green Flexi May 2023 M1 - Scottish Power

BrianW2022

Hi all, 
    I have a question about the energy price cap rates as I either don't understand them or my rate is higher than expected. 
We are on an economy 7 meter on Energy rates Green Flexi May 2023 M1. We have a day rate, night rate and control rate. The current price cap for electricity according to the ofgem website is:
£0.28 per kWh and
Daily standing charge: £0.45

This is for 1st April - 30 Sept 2022. Does this mean that the maximum price per kWh I should be charged by Scottish Power is 28p / kWh?
My current rates on the bill for the day rate, night rate and control rate are 44p / kWh and have been since April.
In April it was 44p for day, 44p for control rate and 27p for night rate. Our standing charge is 47p since we moved here in May 2022, we are in Scotland if that helps.

I am assuming I don't understand how this price cap works if this 44p / kWh is correct, any clarification would be welcome.

Thanks,
Brian

Astria

Your tariff appears to a fixed rate tariff, the price cap does not apply to fixed rate tariffs.

You may be better off asking to be put on the standard variable tariff, but this may mean that exit fees apply, so you need to decide if it's worth it.

BrianW2022

I think I need to speak to them about it, my exit fee is £150 so will have to weigh up the cost, thanks for the reply.

philipbin

BrianW2022 said:

I think I need to speak to them about it, my exit fee is £150 so will have to weigh up the cost, thanks for the reply.

If you let me know your annual day and night usage and your Area from this list:

https://en.wikipedia.org/wiki/Distribution_network_operator#Great_Britain

I can crunch some numbers for you

bristolleedsfan

BrianW2022 said:

I think I need to speak to them about it, my exit fee is £150 so will have to weigh up the cost, thanks for the reply.

Historically no exit fees if change tariff within SP ...

Saga

Astria said:

Your tariff appears to a fixed rate tariff, the price cap does not apply to fixed rate tariffs.

You may be better off asking to be put on the standard variable tariff, but this may mean that exit fees apply, so you need to decide if it's worth it.

I'm with Scottish Power and, at least on my tariff Green Flexi August 2023 M2, there are no exit fees for moving on to another SP tariff but can't be sure with your specific tariff; you'll need to look at the tariff info from the homepage when logged in to your account:

From what I can tell your tariff is flexibly priced, not fixed, meaning although not subject to the price cap rates were reviewed by Ofgem at each price cap milestone (was every 6 months, then it went to every 3 months):

Click on 'Variable costs information' to go to the link https://www.scottishpower.co.uk/flexi and choose you region for more info. According to my T&Cs SP are supposed to notify you of the rate changes so you should be able to construct a timeline of historic values since you signed up for the tariff.