Outfox Energy - Price Rise on a Fixed Tariff

t0rt0ise

https://forums.moneysavingexpert.com/discussion/comment/82043114#Comment_82043114

Tracker is a new term to many so it's no surprise that people see the word 'fixed' which has a common meaning in energy terms and think it means what, up until now, it's always meant. If nobody draws this to the attention of the industry then it will not change and more will make the same mistake. The hope is that lots of people tell them they'll eventually make it clearer.

WiserMiser

It's unacceptable to say one thing and then subsequently qualify it to mean something completely different.

If dozy Ofgem were any good they'd mandate that there should be no ambiguity whatsoever; the word 'Fixed' means fixed — Fixed Rates for a Fixed Period (the traditional meaning) and 'Tracker' means that the rate will always be X% below the price cap applicable at any given time.

bristolleedsfan

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

"ff to tariff shop again then it seems"

Outfox the market have a publicised policy of not charging exit fees when a fixed tariff has been 50% or more completed and a new fixed tariff is taken out.

Might be worth putting to them that it is a variable rate tariff with fixed term and fixed discount off SVR and that you consider it misleading for it to be categorised; as fixed, ask for exit fees to be waived as goodwill if you change to another Outfox fixed tariff unless you would rather switch elsewhere.

Point out to them if they are going to charge exit fee you might as well switch elsewhere.

TroubledTarts

I suspect "Tracker" for those not used to that term with mortgages and energy is the bit that was most understood here.

It's interesting as @t0rt0ise suggests making a complaint, which ultimately would probably end up with an offer of goodwill from Outfox or the ombudmans if you decided to go down that route.

We forget on this board of the knowledge and vocabulary we are used to. Where as normal Joe public are not.

Up to you OP as to what you do next.

RelievedSheff

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

It is a fixed 5% discount on the price cap. So they are correct in calling it a fix.

Next time read what you are signing up for!!

MarzipanCrumble

I totally agree that 'fixed' together with 'tracker' is misleading. Using the comparison Boards at beginning of June I was at first puzzled at the number of tarrifs which were fixed and quite low when I knew the price of oil/gas had shot up.

I think it is totally misleading.

Swipe

Well, considering there's an exit fee it is still a fixed tariff, but in term rather than rates.

Reed_Richards

Whilst I agree that it does not take detailed scrutiny to determine that the price may change during the contract, I think that use of the term "Fixed" should be reserved for contracts where the price remains the same. I agree with @WiserMiser that if OFGEM were more competent this potential for confusion would not be allowed.

WiserMiser

https://forums.moneysavingexpert.com/discussion/comment/82043308#Comment_82043308

But the Price Cap ISN'T fixed (it varies every three months), so the tariff ISN'T fixed !

RelievedSheff

https://forums.moneysavingexpert.com/discussion/comment/82043489#Comment_82043489

The 5% discount is what is fixed.