Please help...I need to change my tariff

naomibm

Hi folks,
I am hoping you guys can help. We are very lucky to have a fixed rate for our gas and electric over the last few years, but this is coming to an end at the end of August. I'm a tad confused by everything. We currently pay £150 a month. I have included the rates we pay and our usage below.many thanks in advance for any help give. Naomi. X

Ectophile

Remember that doing nothing is an option.

Your prices, especially gas, are going to be a lot higher whatever you do.

naomibm

Ectophile said:

Remember that doing nothing is an option.

Your prices, especially gas, are going to be a lot higher whatever you do.

Any idea how much more? If I do nothing...what will happen? Apologies for my cluelessness!

molerat

50% increase in electric unit charge

100% increase in electric standing charge

100% increase in gas unit rate

Gas standing charge staying the same

CSI_Yorkshire

naomibm said:

Ectophile said:

Remember that doing nothing is an option.

Your prices, especially gas, are going to be a lot higher whatever you do.

Any idea how much more? If I do nothing...what will happen? Apologies for my cluelessness!

If you do nothing you go onto the standard variable tariff, which for almost all suppliers is at the price cap.

That's about double what you have been paying.

There are some fixed rates around, a couple of percent cheaper than the variable, but then you won't get any cheaper if the variable goes down.

naomibm

I am currently paying £150 a month...am I looking at about £300 then? 😳🥺

CSI_Yorkshire

Depends if that £150 is right for how much you use.

naomibm

So it looks like I should just stay with scottish energy?

naomibm

CSI_Yorkshire said:

Depends if that £150 is right for how much you use.

It's been rhe same for a few years...so approximately right I think. When we move onto the new rate, will they estimate it over the year and give us a new monthly average for the year, or will we have to pay each month for what we use? I..e. more in winter than summer? 

CSI_Yorkshire

naomibm said:

CSI_Yorkshire said:

Depends if that £150 is right for how much you use.

It's been rhe same for a few years...so approximately right I think. When we move onto the new rate, will they estimate it over the year and give us a new monthly average for the year, or will we have to pay each month for what we use? I..e. more in winter than summer? 

If you're on fixed direct debit now, then you will be in the future - so a new average - unless you want something different then you can ask them to change (they might allow it, they might not).

Scot_39

By doing nothing with SP you will I suspect just default to the suppliers svt - az set by Ofgem in reality.

And prices especialy electric are regional.

Ofgem publishes these prices for all regions all payment methods.

But as a rough guide from memory and for DD payment, July to Sep period averages are

Electric SC 53p ave
C39-61p regional varn, more for standard credit pay on bill etc.

Electric unit rate ave c29.5p

Gas SC 29p
Gas unit rate 7.5p


These appear to be near 50 to 100%+ higher than your fixed rates assuming those are inc vat.  The Ofgem averages above are.

And we don't know region, payment method or actual Gas / Electric annual split.


There are some suppliers offering new fixes - but the savings against svt are small (5%) and a few have even been a little more expensive.


Sadly you are about to be exposed to the reality many of us have been living through for past 18months (the first really big Ofgem cap  rise April last year).

With precise region and an electric vs gas kWh annual usage split we or you could estimate future levels more accurately.

But as a very rough guesstimate, assuming the £150 - I assume your annualised DD level - is accurate I am afraid you could be looking c£250 per month assuming a majority Gas kWh consumption in line with Ofgem cap split.

(Their cap tdcv is roughly c20% electric 2900 kWh, 80% gas 12000kWh - with a total cost on ave for DD of £2074 or £170pm - but if your paying £150pm at your far lower rates suggests you are a far heavier user)

It's difficult to add up the dots but roughly you could maybe be using c17000 kWh annually.

Fag packet based on above assumed 20 80 electric vs gas split and £150 being accurate

150 - say 60p sc = say £130 rounded for unit charges

20% electric 20.3p + 80% gas at 3.7p

I make that roughly C 370 electric
C1500 gas units 

But also perhaps from trying to add the dots and comparing 12x 1870 from the £150pm derived numbers might be 25%+ on high side  (i got c17000kwh by adding dots, that 150 based split works out at c21700 pa or 25% higher or if you like nearer 50% higher than Ofgem tdcv headline cap. But it all depends very much on exact split of gas vs electric if thats even close) .

At new Ofgem ave DD rates using those fag picket monthly figures

370x.295+1500x.0.075+30×(0.53+.29) = £246pm

But as I say hoping this is on high side of actual usage.

But the annual SC varies over £80 regionally and the unit rates change a bit too.

We would need your annual consumption rates - not combined graph total as above - actually split by gas and electric in kWh.

And your supply region.

These annual use figures are often available on bills or if not annual DD charge calculation letters.

If you click on download usage does the monthly data split gas and electric - if so just add last 12m worth.

And do the maths or post here with region.