MSE News: Scottish Power to hike energy prices
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Chair, Martin Lewis · Editor, Marcus Herbert
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On page 9 paragraph 5.8 it states:-
'Scottish Power must give you 30 calendar day's notice of increase in price. If you do not accept the increase you are entitled to end the agreement by giving us notice at any time prior to that increase taking effect.'
What is the difference between a Capped Price and a Fixed Price?
And they (the suppliers) know that the OFGEM bods will shortly ravage them so they want to lock in the increases now:rotfl::rotfl::rotfl::rotfl::rotfl:
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham
Just check terms of contract with e.on and fee is only applicable if you change energy supplier... I think you friend may have misunderstood..
No answer I'm afraid but I'm in a similar position.
I switched to one of SP's online dual fuel saver tariffs (11 I think) quite late last year. It ended up working out that they had a price hike almost on the same day that the switch was activated. Due to switching taking a lot longer than their notification period vor changing prices, there was nothing I could do unless I broke contract and sacrificed £50 (the same amount as my initial switching payout).
I believe that this is an area that the regulator needs to look at. Tieing a customer in when the unit rates are fixed is fair enough. Having a tie in period when the unit trates aren't fixed would seem to be an unfair contract condition.
Yes I was aware of this when I signed up for it but it doesn't make it right. If there were more choice of suppliers it would help but we seem to be very close to a cartel situation here with only a few big players.
Juvenal, The Sixteen Satires
I'm with you on this. This cancellation fee clause makes me :mad:.
It's just one more way to bleed the customer dry.
I have exactly the same dilema as you Maddipops. They have just reduced my DD to £65 a month for dual fuel which isn't all that much compared to what a lot of others are paying but I am thinking like you, do I bite the bullet now and do I find a fixed deal for a few years.