spyinthesky Posted 23 November, 2021 Share Posted 23 November, 2021 Anyone coming to the end of their power supply contract? I am with Scottish Power and my Dual Fuel agreement is due for renewal in February, My current monthly payment is £123 and their 'best' offer for 12 months from next February is £248 per month just over double what I'm paying at the moment. I have gone on a couple of comparison sites only to be told that they are currently not in a position to offer any suggested deals. One thing I dont understand is there is supposed to be a cap on fuel supply prices until April so increases should not kick in until then unless I have misread the details. Anyone in the same position or have more information to impart please? Link to comment Share on other sites More sharing options...
Plastic Posted 23 November, 2021 Share Posted 23 November, 2021 Ours ended last month. Bad timing The best advice currently is to remain on your variable rate until prices normalise. Most suppliers have removed fixed price offering or increased their prices to such an extent that they offer no benefit over the variable rate. Not a good solution but at least we can still benefit from the existing cap. I spend a fortune on my electricity/fuel anyway, so it’s just a cost I have to bear. 1 Link to comment Share on other sites More sharing options...
Lord Duckhunter Posted 23 November, 2021 Share Posted 23 November, 2021 3 hours ago, spyinthesky said: One thing I dont understand is there is supposed to be a cap on fuel supply prices until April so increases should not kick in until then unless I have misread the details. The rate cap went up in October and it’ll go up even more in April. The price in April will be based on wholesale energy prices Aug-Jan and they’ve already gone through the roof, unless there’s a miracle and they drop in Dec & Jan, April will be painful. I guess you could try and fix above the cap now, but below where you think it will be after April, but as you say, finding a fix is easier said than done. The advice seems to be to stick with the variable capped rate. But prepare for big increase in April 1 Link to comment Share on other sites More sharing options...
The Cat Posted 23 November, 2021 Share Posted 23 November, 2021 I'm with Bulb who are going into administration. Checked my account a few weeks ago and for some bizarre reason they reckon I'm £2200 in credit. No wonder the company is going belly up if that's the way they run their accounts. Link to comment Share on other sites More sharing options...
whelk Posted 23 November, 2021 Share Posted 23 November, 2021 Take a screenshot going to be much wailing and gnashing if teeth in April coupled with the NI increase. Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now