We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Why is my energy tariff not subject to the governments price cap
RICHBTW2020
Posts: 2 Newbie
in Energy
Just received the following from my energy supplier
| Important: Energy Price Guarantee The government's Energy Price Guarantee discount does not apply to new fixed term tariffs agreed after October 1, for new customers or existing customers renewing. My fix ends on 4th Nov 2022 with the rate going to 44.35p/kWh how is this allowed and does it mean any future rises will also be applied regardless of the Governments price cap |
0
Comments
-
Then don't agree to a new fix. Let it roll over to the Standard Tarrif.4
-
It's 'allowed' because the EPG only ever applied to SVT. Nothing to do with fixes.No free lunch, and no free laptop
0 -
A supplier can offer whatever fixed tariff they like. No cap, limit, or anything else applies. If they want, they could offer a fixed tariff at £100 per day and £50 per kWh. You don't have to accept it.
They also have to offer the standard variable tariff, to which the old price cap and (at the moment) the EPG apply.
0 -
44.35p/kWh is the standard tariff, there are no fixes available , my colleague at work has this same standard tariff but at 35p/kwh they seem to be penalising me as my fix ended after 1st October
0 -
The 44.35p per kWh only applies if you try and take a fix, on the SVR it will be the EPG rate.RICHBTW2020 said:44.35p/kWh is the standard tariff, there are no fixes available , my colleague at work has this same standard tariff but at 35p/kwh they seem to be penalising me as my fix ended after 1st October0 -
At the point the EPG started, you were on a fixed rate. So, you get a message saying it doesnt apply to you as its correct at the point of issue. If you do not enter a new fixed rate and go to the SVT then the EPG will apply.RICHBTW2020 said:44.35p/kWh is the standard tariff, there are no fixes available , my colleague at work has this same standard tariff but at 35p/kwh they seem to be penalising me as my fix ended after 1st October
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Are you sure it's not just that they're still showing the old numbers? Not everything is updated in every system yet (and after today's news there are other things to concentrate on now).
If you go onto the SVT you will be paying the price cap rate.0 -
44.35p/kWh could be cheap by next April, but a 12 month fix still won't last you over next winter so probably not worth the bother.
0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.6K Banking & Borrowing
- 254.5K Reduce Debt & Boost Income
- 455.5K Spending & Discounts
- 247.5K Work, Benefits & Business
- 604.4K Mortgages, Homes & Bills
- 178.6K Life & Family
- 261.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards