Outfox Energy - Price Rise on a Fixed Tariff

AdamW85

Good afternoon. I am after some advice please as I am confused by a recent email from Outfox Energy regarding my 'fixed' energy supply.

Back in April 26 I renewed my contract with Outfox, moving to their cheapest (at the time) 12 months fixed tariff - Outfox the Price Cap Tracker 12M Dual - 5% Minimum Energy Discount - V1

Despite the word 'Tracker' in the name, I was convinced that this was a fixed tariff, based on the supporting literature at the time. Indeed, when I log in to my account now, it clearly states it is fixed:

The email I have received this week from Outfox Energy states that my unit cost will be increasing in line with the price cap, from 1st July.

I may be missing something here, or be completely stupid, but my understanding is that when on a fixed tariff, the unit cost for the energy is fixed for the duration of the contract, and does not change. Only if you are on a true tracker should the unit cost change. A quick Google search also suggests this.

Is my misunderstanding of fixed tariffs wrong?

Am I not on a true 'Fixed' tariff?

Or are Outfox having me over here?

I will be attempting to make contact with them tomorrow, but any information or advice that can be shared beforehand would be very much appreciated.

Woodstok2000

It's not a true fixed tariff. Outfox call it a fixed tracker tariff - it stays at s fixed level below the cap, but it changes when the price cap changes.

https://outfox.energy/trackertariff

Dazed_and_C0nfused

I suspect you misunderstood what fix means.

My guess would be it is guaranteeing that you will pay 5% less than the price cap.

Keep_pedalling

The screenshot you have given us does not say fixed it says tracker. That tarrif guarantees staying 5% below the price cap so if the cap changes so does the rate you pay. Had the price cap dropped I don’t think you would be complaining that rather than staying fixed your price would have dropped.

QrizB

I may be missing something here, or be completely stupid, but my understanding is that when on a fixed tariff, the unit cost for the energy is fixed for the duration of the contract, and does not change.

It's a bit more complicated than that.

Your tariff has a fixed term and a fixed discount vs. the Ofgem cap.

This will have been explained in detail in the tariff details that Outfox provided you with when you signed up to the tariff.

For example, see here:

https://outfox.energy/trackertariff

What is a Tracker tariff?

This is a 12-month fixed tracker tariff for customers who use both gas and electricity and have a smart meter. The prices change whenever the Ofgem price cap changes and will always be cheaper.

Thwre are more details at the link I shared above.

Swipe

It's not the first time people have posted about this and it certainly won't be the last.

Ayr_Rage

Oops, you did misunderstand what you signed up for.

t0rt0ise

I'd complain as it's misleading.

AdamW85

Thanks for the replies, and yes, it appears I did not fully read the small print. I consider myself to be pretty switched on, so actually disappointed in myself not to have spotted this. Off to tariff shop again then it seems!

@Keep_pedalling you are not correct however. The screenshot clearly shows the words 'Fixed', below the tarif name in the purple box, next to 'Duel fuel'.

Absolutely misleading in my eyes, but not much I can do about it really.

MWT

https://forums.moneysavingexpert.com/discussion/comment/82043100#Comment_82043100

… only if you don't read what you are signing up for…

They don't exactly hide that it is a tracker tariff as it is in the name.

Octopus offered one of these a few years ago and messed up by sending out the wrong contract details so many people claimed they had been misled, even though I suspect a good number knew full well what they had signed up for.

If Outfox managed to send out the right contract details then there is no reason for anyone to complain.

Woodstok2000

https://forums.moneysavingexpert.com/discussion/comment/82043112#Comment_82043112

Yes, its 'fixed' at 5% below the cap. It's not exactly hidden in the small print, the first line of the tariff description says:

"The prices change whenever the Ofgem price cap changes and will always be cheaper."