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Fixed rate bills

3 replies

Thekindyoufindinasecondhand · 15/06/2020 15:43

Help! I'm buying my first home and looking at different energy providers and who is best to go with.
Whilst looking I keep seeing fixed rate options for 12 months, which seem to good to be true? I've researched them and still can't quite work out what I'm missing.
I'm pretty sure to pay a fixed amount, but use potentially unlimited gas and electric isnt right? Can anyone help me understand a bit better please!

OP posts:
dementedpixie · 15/06/2020 15:45

You pay a fixed amount per unit so the amount you actually pay will vary with how much energy you use. I think you are misunderstanding what a fixed price is tbh

BarbaraofSeville · 15/06/2020 15:47

It's only the price per unit that's fixed. You pay x pence per unit. There will probably also be a daily standing charge.

They can't raise (or lower) the price of a unit within the contract, but they will charge you for each unit you use so may raise or lower your monthly bill depending on how much you use if it's different to what they think at the beginning.

Thekindyoufindinasecondhand · 15/06/2020 15:49

Thank you!
@dementedpixie yep I'm completely misunderstanding what fixed price meant, like I said knew it was to good to be true Grin

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