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Energy Crisis

posted by DavC1 | 3 months ago

People with a £1k a year bill will find themselves paying up to £4k in 2022/23.  Some things you should do,

Stay on the standard variable rate, do not start new 12 or 24 month fixed rate tariff deals

Send in meter readings at least 6 times throughout the year, this prevents estimated bills

Look for help with payments from your local council, SP's Warm Home discount, and DWP,  Ask Citizens Advice for other possible benefits,

Plan ahead for high bills.

Try to cut down on heating Heat is the most expensive part of energy costs, lighting and tv do not cost very much  

 

25 comments

posted by zoe1984 | 2 months ago
Re: Energy Crisis
Hi i have fixed my tariff and wondering if i have done the right thing? I am still in the cooling off period so able to cancel. My previous tariff was due to end in april and i was paying 140 a mth now i have chosen this exclusive tariff 1 year its 280 a mth. Is this a wrong move? Should i just let my tariff end and go on to variable? What are the rates? As anyone had a email with new prices with the price cap? Thanks Zoe

posted by DavC1 | 2 months ago
Re: Energy Crisis

@zoe1984   The general advice is to stick to the standard variable rate contract.  The government is spending billions to shield people on these contracts, but if you step outside the shield you pay the full commercial rates. The standard rate will go up in April but will still be cheaper for you over the next year.
Scottish Power are trying to get people onto fixed contracts by quoting cheap starting DDs but they will quickly be increased, so stick with the capped government standard rate. 

posted by DavC1 | 2 months ago
Re: Energy Crisis

A further comment,  SP and most suppliers hate the capped standard variable rate which they are forced to offer at a loss or very little profit.  It costs the government billions to shield variable rate tariffs and they are definitely the best tariff for consumers this year and next year.   

posted by Gclayton2022 | 2 months ago
Re: Energy Crisis
Can you move onto the variable tariff when your fixed tariff expires. Does anyone know the current day and night rate per kwh on the variable tariff as it is impossible to find!

posted by DavC1 | 2 months ago
Re: Energy Crisis

@Gclayton2022   When your fixed tariff expires you should do absolutely nothing. Do not take up a new fixed rate deal even if the SP salesman tells you to.  You will be automatically put in the variable tariff.

whatever the unit costs a variable rate tariff cannot be more expensive than the government limits of the rate cap. 

Fixed deals are not protected and allow SP to charge the full commercial cost, that is why SP are so keen to get you on another fixed deal. 

Top answer

posted by DavC1 | 2 months ago
Re: Energy Crisis

To repeat the message.  Do not start a new 12 month contract, let your contract finish and you will be put onto the standard variable rate or SVR.   

The SVR is subsidised by the government, costing billions a year, and it protects you from the worst of the energy crisis. 

The SVR costs increase on 1 April this year, it may seem shocking, but it is the cheapest deal on the market.  There is no point in switching supplier as all the SVR rates will be the same from all the suppliers.  It uses the government price cap.   Suppliers hate it because they can't make a profit from it, that is why so many suppliers have gone broke.

posted by natwalton1 | 2 months ago
Re: Energy Crisis
Hi there, I am looking for advice as Scottish power are not interested at all. Our tariff ends at the end of April and we pay £122 per month for both gas/electricity. My new fixed tariff from SP is £495!! We cannot afford this at all, I spoke to sp who said it was a big risk not to fix because of the increase in October aswell but the £495 fixed was as good as it was getting! I am at a loss as to what to do.. if I stay on their variable tariff can I switch to a fixed one anytime afterwards? Should I fix or leave it? I contacted citizens advice who just told me to compare rates on both tariffs to see what was best but it’s a minefield! Any help really appreciated.

posted by DavC1 | 2 months ago
Re: Energy Crisis

@natwalton1    Stay on the default standard variable rate, it will increase in April and again in October but because it is price capped and subsidised it is always the cheapest option. The 12 and 24 month deals are exposed to the full price increases on the international markets.  
Yes you can always switch away from the standard rate at any time but it will cost you a LOT of money. 

posted by natwalton1 | 2 months ago
Re: Energy Crisis
Thank you so much for your reply, considering that people are supposed to get help and advise from these people including citizens advice you are the first person who has actually helped me! I am going to let the contract finish at the end of April and they can switch me to their standard tariff and I’ll go from there.