Discussion in 'Home and Garden' started by craig_t, 12 Jan 2016.
Next flex is the standard SVT enforced by ofgem
How is it going to save money when it will cost a couple of grand for the stove and install? That's the conclusion I came to. I can even get free logs from friends/inlaws but still doesn't make much sense
I'm going a bit mad with my situation..
I moved to utility point literally a month, maybe less before they went pop.
So now I'm allegedly with EDF.. that was about 6 weeks ago... They said don't do anything, wait for your account number etc etc.. usual stuff I gather.
The issue I have is I've no idea what I'm paying EDF, I supposedly can't or shouldn't leave until everything has been migrated and blah blah.. I called EDF and got a shrug, they can't talk to me about my account because I haven't got one etc. I pointlessly debated this with the person at EDF.. basically that I'm now a hostage.
All the while I'm conscious prices are going up and I'd quite like to at least know what I was paying and be able to change... I'm apparently on welcome variable which I'm going to guess is a pretty expensive tariff.
Instinctively I do wonder if when presented with a socking great bill by EDF they have any sort of leg to stand on in collecting, I never asked to be one of their customers, I wasn't given a choice of being one of their customers, I wasn't given a choice of tariff or the tariff rates beforehand so can't possibly have agreed to anything.
I get supplier of last resort and all that but I think this should be a far quicker process, Utility Point had about 200k customers, this cannot be a 2 month job.
But either way.. contracts being what they are surely you have to have a right to cancel or a right to change or at least the right to pay what you were expecting to pay before the move if you have no say in where you end up? Has anyone heard whether any of this is enforceable? I'm going to pay the bill and thank god I can afford to weather all of this but plenty out there can't and it feels stinky!
Also am I right in saying prices are pretty much constantly rising so there's little to no incentive to EDF to hurry up right?
The system works both ways. Your provider has gone bust, presumably taking some of your accrued credit with them. OFGEM will make sure you don't lose your accrued credit, but you are at the mercy of the "process" being effectively implemented to transition you over.
I highly doubt the folk working at Utility Point are on their A-Game in making this happen. Would you be? I also highly doubt EDF have a specialist department to handle such a unique scenario we are experiencing now.
I suspect they're trying to get some extra cash flow, and what better way of doing it than fleecing your customers for more even if they're in credit.
I imagine they'd probably collapse if every customer demanded a refund on their credit balances.
No, you're protected by the cap.
So the welcome tariff you're on is likely to be SVR which is capped, so any tariffs you move to are likely to be around this price anyway.
Martin Lewis has advised in his latest newsletter that if you’re having to move from a fixed rate to a variable one then just to go with it. Apparently fixed rates today are considerably more than the price capped rates.
This would tie in with the offer I received today from Octopus. Currently I’m paying £130 a month for gas and electricity. I was offered three rates for when my current package is up - fixed at £338(!!) a month, variable at £178 a month or a loyalty deal at £224 a month.
I just knew EDF would screw up somehow. Final bill received but doesn’t include my last direct debit payment. Tried the live chat, they said I need to phone.
Had an email from British Gas as my fixed deal ends at the end of November with a new tariff and the standard variable. Currently paying £100 per month (which was only raised last month from £85). They have estimated my annual usage as 7512 kWh of gas and 3170 kWh of electricity a year.
When I check online, my usage is as follows: 2019 Gas 6135kWh and Electric 2248kWh. 2020 Gas 5985 and Electric 2802. Electric was higher in 2020 due to working from home and so far this year it's 2581 kWh so on track to be similar as 2020. Gas is likely to come out around 6400 kWh for this year.
The new tariff comes out at £1400 for the year and when I do a quote online, the estimated cost is £116 per year. I assume that this is based on my actual usage that is on my account history and not from the email? I don't understand the prices for this tariff. The unit rate is slightly higher than the standard rate but the standing charge is less. Is it wise to go with the fixed deal as the energy price cap is predicted to be increased in April 2022 to £1,500+? If this does, the standard variable is likely to increase to almost match it.
While the cap is likely to go up fixing your price now for an extended period is currently NOT recommended. If the price drops, and many expect it to next year you’re stuck on a massively higher rate.
Martin Lewis’s email just this morning said as such:
Moved to Octopus from Avro, just lol at them offering a fixed tariff with over 10p per unit of Gas.
All good on SVR ta.
When I fixed a month ago even then people were saying don't fix.
I wouldn't now as fixes are even more ridiculous.
If it was me now. I'd be going SVR.
What actually is the unit rate of the price cap?
It depends where you live.
Bulb are charging me 19.68p electric and 3.97p for gas. Currently paying £169 per month and they want me to pay £197 despite being £400 in credit.
So where can you find out what it is for your area as I've googled the ar$e out of it and cant find it anywhere!
The offgem website says to contact your supplier.
Thanks both, I forgot to take into account the higher usage over winter when I was looking at it. I'll stay on the standard rate when my fixed tariff ends.
This is extremely well hidden information for some reason. I’ve been unable to find out for sure myself but I don’t think it’s reliant on where you live as has been said in another post.
Octopus quoted me these figures for the variable rate which I imagine are or are very close the capped rates -
Daily charge 24.86 p/day
Unit rate 20.20 p/kWh
Daily charge 26.11 p/day
Unit rate 3.96 p/kWh
It is dependent on where you live, but the difference isn't that big.
The first download link.
Those rate are better than the cap, but being a variable rate can change. (Assuming these were quoted this month and not before)
Cheers, that looks similar to what Scottish Power quoted as their variable rate is.
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