Scottish Power

GlasgowExpat2

Has anyone been notified about their new rates - the website says 19 September ?

I’m currently on their Standard Monthly Bill rate but wondering what the difference might be against a variable direct debit rate based on actual usage. My gas bills in the summer averaged £10 per month. 

QrizB

If you've got single-rate electricity plus gas, chances are SP's prices will be the same as EDF's:

https://www.edfenergy.com/sites/default/files/government_energy_price_guarantee_prices._standard_variable_deemed_and_welcome._credit_meters.pdf

Ultrasonic

The first communication I had was a text this morning stating that my fix is priced below the EPG and so nothing would be changing. The trouble is I don't think this is true. The unit prices definitely aren't, and I don't think the lower standing charge will make this true for the typical usage figure. I'll do some sums when I'm home tonight.

I was expecting the unit prices to be reduced but the standing charges to stay the same.

The exact message I received was:

No action required: Your fixed tariff is priced below the Government Energy Price Guarantee, so you don't need to provide a meter reading on 30th Sep. 

Leon_W

Scottish Power emailed my new rates Sunday . I'm currently on the SVT

Unfortunately I live in South Western region which has higher standing charges than anywhere else I reckon !

[Deleted User]

Leon_W said:

Unfortunately I live in South Western region which has higher standing charges than anywhere else I reckon !

Yes it does.  Congratulations?

Leon_W

[Deleted User] said:

Leon_W said:

Unfortunately I live in South Western region which has higher standing charges than anywhere else I reckon !

Yes it does.  Congratulations?

There isn't much I can about it     I'm not far from Bristol really and pay practically double what they do up in the big London !  It is what it is.

[Deleted User]

You can have a fight with Merseyside about who is worse off.

Ultrasonic

Leon_W said:

Scottish Power emailed my new rates Sunday . I'm currently on the SVT

Unfortunately I live in South Western region which has higher standing charges than anywhere else I reckon !

That's helpful as I'm in the south west region too  .

The rates for my current fixed rate tariff are:
Gas: SC = 27.752 p/day, Cost/kWh = 10.446 p
Electricity: SC = 27.3 p/day, Cost/kWh = 37.986 p

Doing some sums I believe that Scottish Power are factoring in the standing charges in assessing my tariff is cheaper that the EPG. It just works out this way for my estimated annual usage, but isn't cheaper for the 'typical' 2900 kWh electricity plus 12,000 kWh of gas.

However, from the information in the government factsheet (copied below) I was expecting a comparison to me made solely on the unit rates. Thoughts anyone?


Government Factsheet Text:

If you’re on a fixed rate tariff

Fixed tariff customers will have the same support where appropriate. Unit price reductions of up to 17p/kWh for electricity and 4.2p/kWh for gas will apply to fixed tariff customers that currently have unit rates above the EPG.

A ‘floor’ unit price for gas averaging at 10.3p/kWh and for electricity averaging at 34p/kWh for direct debit customers will be introduced, because some people will have fixed at much lower prices some time ago, meaning their annual payments will already be below the £2,500 average set by the Energy Price Guarantee.

Customers on fixed rate tariffs that are already below the floor unit prices will continue to enjoy those low rates, but will not receive a further discount for the duration of their fixed term.

For the small number of consumers who fixed at a high rate exceeding the October Ofgem price cap of £3,549, they will receive the full discount of 17p for electricity and 4.2p for gas. However, given the higher starting point, their fixed rate tariff will still have a unit rate that is above the EPG rates.

Energy suppliers will adjust fixed tariffs automatically. Customers on fixed tariffs do not need to take any action to get the benefits of this scheme. Any transfer to a different tariff is a matter for suppliers.

The Energy Bills Support Scheme will be paid on top of this as a monthly or quarterly discount to your bill, totalling £400 from October to March.

[Deleted User]

Says 'unit rates' but then directly refers to the £2500 which is including standing charge.  The factsheet could go either way.

Given all the other caps have been including SC though, I would have expected it to happen exactly the way SP suggest.

Ultrasonic

Deleted_User said:

Says 'unit rates' but then directly refers to the £2500 which is including standing charge.  The factsheet could go either way.

Given all the other caps have been including SC though, I would have expected it to happen exactly the way SP suggest.

Have you seen any other posts covering how other suppliers are handing this? I don't recall seeing one with this detail explicitly explored but I may well have missed it. 

To save those curious from working it out, I make it that my current tariff would cost £2556 for the 2900/12000 'typical' usage.

[Deleted User]

Ultrasonic said:

Deleted_User said:

Says 'unit rates' but then directly refers to the £2500 which is including standing charge.  The factsheet could go either way.

Given all the other caps have been including SC though, I would have expected it to happen exactly the way SP suggest.

Have you seen any other posts covering how other suppliers are handing this? I don't recall seeing one with this detail explicitly explored but I may well have missed it. 

To save those curious from working it out, I make it that my current tariff would cost £2556 for the 2900/12000 'typical' usage.

I haven't, it's purely my best guess based on what I've seen previously and my assumption of the intentions.