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Energy Price Cap
Flamingoes
Posts: 3 Newbie
in Energy
I have just been offered a fixed rate for energy by Ovo.
The direct debit is £139 per month for gas and electricity fixed for 1 year. This seems to good to be true, am I missing something obvious here?
Tia
The direct debit is £139 per month for gas and electricity fixed for 1 year. This seems to good to be true, am I missing something obvious here?
Tia
0
Comments
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What are the unit rates and standing charges? Direct Debit amount is meaningless for comparisons.1
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Fixed rate is not all-you-can-eat.Flamingoes said:I have just been offered a fixed rate for energy by Ovo.
The direct debit is £139 per month for gas and electricity fixed for 1 year. This seems to good to be true, am I missing something obvious here?
Tia
If you use more than £139-worth of energy each month, you will have to pay more.1 -
I got this information from the website, hope this helps.
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Spoonie_Turtle said:What are the unit rates and standing charges? Direct Debit amount is meaningless for comparisons.
Just found this on MSE for further comparision
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The actual prices vary slightly by region so take the above as our American cousins would say ‘ under advisement’.Flamingoes said:Spoonie_Turtle said:What are the unit rates and standing charges? Direct Debit amount is meaningless for comparisons.
Just found this on MSE for further comparision1 -
If SVT prices fall below that level during the 12m lock-in, then you'll have to pay a £150 penalty to exit early.
So it's what I call the 'Clint Eastwood dilemma'...
I'm on Octopus Tracker, so it's not relevant, but were i on SVT, I would not be jumping onto any new fixes just yet, there may be better ones over the summer. However, if you want the insurance of a 12m fix, then it may suit you.
No free lunch, and no free laptop
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It is worth people checking their contract terms and conditions. Often a switch from a fixed tariff to the SVT (same supplier) does not incur an exit fee.macman said:If SVT prices fall below that level during the 12m lock-in, then you'll have to pay a £150 penalty to exit early.
So it's what I call the 'Clint Eastwood dilemma'...
I'm on Octopus Tracker, so it's not relevant, but were i on SVT, I would not be jumping onto any new fixes just yet, there may be better ones over the summer. However, if you want the insurance of a 12m fix, then it may suit you.1 -
Did that today for my dad, Got him off his SP 2 year fix which ran until Aug 24 and had £150 per fuel exit fees![Deleted User] said:It is worth people checking their contract terms and conditions. Often a switch from a fixed tariff to the SVT (same supplier) does not incur an exit fee.
At least now he can switch to another company for free if better deals get offered.Barnsley, South Yorkshire
Solar PV 5.25kWp SW facing (14 x 375) installed Mar 22
Lux 3.6kw hybrid inverter and 9.6kw Pylontech batteries
Daikin 8kW ASHP installed Jan 25
Octopus Cosy/Fixed Outgoing0
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