EDF SVTariff is more than the Price Cap, July 2023

judyspur

Thank you for the time and trouble you have taken to answer my query.  I already know most of what you have said and I agree that my title for this post is both erroneous and probably misleading. For which I apologise. I was reacting to being overcharged - at least that's what it felt like. 

I am sure that EDF will be charging the same unit price as the Price Cap, however I feel as if they are asking us for a lot more money than they should be. 

The DD amount produced by the MSE Calculator (£205 pm) uses an accurate figure of energy used in the last 12 months, so should take care of any seasonal fluctuations. Our annual energy use has decreased year on year for the last 3 years, so for EDF to estimate such a high use that they charge us £240 pm is to take £420 per annum to hold in their coffers that they will not need to take. That money should be in our bank not theirs even if it does end up being a credit on our account. 

I think this is an attempt on their part not to experience the effect of falling prices as caused by the Price Cap.

After receiving at least 4 separate emails telling us we cannot reduce our DD we have at last been allowed to do so. We will be paying £210 pm until the Price Cap changes again. 

I wonder how many more people are paying more than they should each month because their energy companies are estimating large increases in consumption and thus not passing on the full effect of the decrease in price.

CSI_Yorkshire

judyspur said:

I think this is an attempt on their part not to experience the effect of falling prices as caused by the Price Cap.

It is an attempt on their part to make sure people don't get into debt, especially as last winter was relatively mild and the upcoming winter may not be.

You are still assuming that it is "correct" that you will use exactly the same amount of energy in the next year as you did last year ("an accurate figure of energy").  That is simply an assumption on your part and not related to accuracy.

Bigphil1474

To be fair to the OP, they do tend to over estimate what you will use so you end up in credit. I'm quite careful with meter readings (up until we had a smart meter fitted recently), but we have always been in credit by the end of the year (last 10 years or so) due to the supplier setting the DD too high or upping the DD payment part through the year. Hit and miss whether they agree to lower it. We're currently about £600 in credit mainly due to the government payment, and the milder winter. Can't be bothered with the faff to get it back at the moment, as we come out of a great fix in October.

jimjames

judyspur said:

I think this is an attempt on their part not to experience the effect of falling prices as caused by the Price Cap.

If you really think that then switch to DD where you pay on bill and you'll only pay for what you use. It does mean bills will be wildly different summer to winter, our winter ones were £500 pm and currently £30 pm.