I've been a customer for many years and in thanks, ScotPwr are increasing my bills by 35% in February when my existing fixed tariff ends! Interesting that there are numerous alternative suppliers offering fixed price tariffs at lower prices than my existing expiring old tariff! Never mind the new ripoff tariff. As you may guess, I'm off to a fairly priced alternative supplier asap!
Hi Basby, nice info about wholesale electricity, gas is about 1.7p/kwh wholesale so around 50% of the retail price. Of course the retailers pay transmission costs, office admin, call centres, green levies, smart meter levies, advertising, and the cost of Whiskas for the office cat. Still the annual profits of about 5% to 10% of the Big Six show that they are not doing too badly. The Big Issue is that customers who shop around get a reasonable deal, but the majority are on the dreaded Standard Variable Rate which subsidises everything else, and it's usually the poorest people who pay the highest rates. Based on the official definition of a typical user bills should be about £1100 a year, and this has increased from about £900 a year since 2016. (very approx. figures)
Interesting comment from DAVC but....
If you change to a fixed deal you will have £60+ exit fees and will be stuck on a one or two year tariff which 20% to 40% dearer than many of the competitors.
The ScotPwr Standard Tariff rate, is now lower than all currently available fixed deals!! (However, you can no doubt expect a price rise soon if you go on standard variable rate).
Cleaver ploy ScotPwr especially when you do not display the "standard tariff" estimated projection figures, as an option for renewing customers, when they login to do a tariff change search.
I have found that there are numerous alternative suppliers offering far cheaper tariffs than ScotPwr.
Has anyone tried to get through to customer service lately? No chance!
Time to leave for a company that is not complacent and that cares about its customers "me thinks!"
Thanks LoyalCustmr, but are you sure you are right? Standard Variable is £1147/yr, and Jan19 fix is £1074/yr at the moment. Also there is no £60 penalty if you are switching within Scottish Power, it applies only if you leave to go to another supplier. I agree that SP have got out of line with their prices though.
Sorry for my generalisation.
In my case using "usage prjections," my statement holds true. Standard Variable quote from ScotPwr shows its the best option! Also I have made the decision to seek another supplier, so that "exit fees" would apply to the fixed tariff option if I changed to it and later decided to go elsewhere for a better deal.
It is true that everyone needs to do the comparison based on their own case, as the big suppliers make it fiendishly difficult for their customers to get a clear picture!
I get message in october about changing my monthly Direct Debit witch was 39 pounds
no i just look on my account because i submit my meter readings and i see 50 puonds .. why nobody let me know about changing my tariff again ???
Hi Maaartaaa, I think what has happened is your new meter readings show you are using more power and so your monthly direct debit has gone up. We are all using more power now because of the cold weather. When we have warmer weather the monthly rate should go down again, you have not changed the tariff you are on.
I too couldn't understand the hike they wanted for what amounted to a 7.8% rise. We have used less than we have ever done this last year, so to go from £36 (just risen from £30) to nearly £82 is bizarre. I spent quite some time on the phone with them as I worded out it should have been £6.50p a month rise making it £42.50p.
However, I consulted with facts and figures with a good friend who is even better than I am and gave the following formulae for working things out. You can adapt this for your own needs with your own kwh etc. This was my working out:
My original Cancer 2018 tariff that ends the 31st.
Current Cancer Tariff
Standing charge (19.57x365)/100 = £71.44
Gas usage (9228x2.776) = £256
Standing charge = £71.44
Usage (2904X10.713)/100 = £311.11
Or divided by 12 should be about £60 per month for both.
My just started tariff which was done from Martin Lewis's MoneyExpert website that also gives £25 cashback after 3 months is as follows:
New Tariff Just Started.
Standing charge (19.184x2x365)/100 = 140.432
Call it £ 140.43
Gas (9228x3.962)/100 = £365.62
Electric (2904x16.781))/100 = £487.33
monthly = 82.79
SP have taken my £196 credit and reduced the monthly payments to £58. I only wish SP would give interest on credit like OVO do. OVO however have a much higher daily standing charge, so I'm still out on that one.