Meet the Other Phone. Child-safe in minutes.

Meet the Other Phone.
Child-safe in minutes.

Buy now

Please or to access all these features

AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

See all MNHQ comments on this thread

Aibu to ask if you have switched energy supplier?

27 replies

CoffeeFirstPlease · 04/02/2022 06:03

Posting for traffic.

Currently with Scottish Power. 3 bed house. 1 adult 3 children. Currently paying £97 a month (ending next week) currently they are saying it will go up to £217 a month direct debit. I don't know whether to switch, join the new tariff or go back to key meter any advice/recommendations will be really appreciated.

OP posts:
Daisy03 · 04/02/2022 06:23

I'm with Scottish power also and switched to one of their green fixed deals, I'm increasing to 115 a month to 150 a month which I'm happy with (obviously happy isn't the right word but I feel could have been far worse).
It's also free to leave that deal if something better comes along

FourTeaFallOut · 04/02/2022 06:23

Is the £217 figure to move on to a fixed tariff or is it the variable rate? If it is the latter it is running at the current cap and is effectively the same price regardless of supplier.

nannynick · 04/02/2022 06:30

Watch yesterday's Money Show episode on ITV Hub. There are no good fixed rate deals. Variable rate has the unit price capped.

From 1 April 2022, cap is (if paid by direct debit):
45.34p per day electric standing charge
28.34p per kWh

Compare the cap to the fixed deal unit prices... fixed deal is likely higher. Price cap changes again in October and is expected to go UP, so if fix is only a tiny bit more than the figures above, then maybe worth fixing but it is a gamble as the cap may come down in 2023.

BarbaraofSeville · 04/02/2022 06:33

You don't want to go back to a key meter, that's always more expensive and also means you can't (as far as I know) smooth costs throughout the year, because you have to pay in advance so costs a lot more to use heating during winter.

If you don't switch supplier or take a new deal, you will go onto the price cap tariff, which, while being a lot more expensive than what you're currently paying, is generally less than available fixes.

Some suppliers are offering 'loyalty fixes' which are not as expensive, but seem to be slightly more than the April 2022 price cap, but give certainty for next winter, and are likely to work out cheaper over the next year, if the price cap goes up again in October. But if prices fall, you could be locked into a higher price next winter, or may be able to switch, as these often don't have penalties if you leave early.

But whatever you do, compare unit prices and standing charges, not any quoted monthly direct debit prices, because some suppliers, and Scottish Power have definitely guilty of this, have been quoting monthly prices for long term fixes based on a lower amount than what you use, and they'll let you run along with it for a few months before going, 'oops, looks like your usage is higher than the unrealistically low estimate we buried in the small print of that contract you signed without reading properly, looks like we'll have to increase your direct debit'.

poshme · 04/02/2022 06:36

@nannynick are those figures on a website somewhere please? That standing charge is more than double what I pay now. Sad

nannynick · 04/02/2022 07:03

@poshme I got it from a tweet from Martin Lewis who got it from Ofgem. I expect it will be on Ofgem site now, or soon.

mobile.twitter.com/MartinSLewis/status/1489338010986500100

poshme · 04/02/2022 07:06

@nannynick thank you.

Ouch! That standing charge is awful!

user1471530109 · 04/02/2022 07:14

OP, have you looked elsewhere? At another company? I switched before Christmas and everyone on here was saying that the advice was not to move. I went with octopus and my bills went from £100 to £129. But, over winter I'm actually in credit (only £40 but still!) so I'm hoping I can reduce my DD down a bit.

userxx · 04/02/2022 07:15

[quote poshme]@nannynick are those figures on a website somewhere please? That standing charge is more than double what I pay now. Sad[/quote]

I had a shock too reading that. It's going to be a strange summer paying such high energy bills.

nannynick · 04/02/2022 07:16

Price cap varies by region.
Ofgem has this document

www.ofgem.gov.uk/sites/default/files/2022-02/Default%20tariff%20cap%20level%20-%201%20April%202022%20-%2030%20September%202022.pdf

Not that helpful though as does not give the per kWh figure.

FourTeaFallOut · 04/02/2022 07:18

I found this on the mse forum, if it helps

Aibu to ask if you have switched energy supplier?
FourTeaFallOut · 04/02/2022 07:20

^^ Which is probably rude to link to as it was their own work Blush

nannynick · 04/02/2022 07:21

I have Eco7 so have a Multi-Rate meter. Looks to me that my standing charge and kWH figures will be higher than the average cap figures (If I have calculated it correctly from the Ofgem data). So it will vary on where you live and type of meter.

Iamanicepersonreally · 04/02/2022 07:22

Does anyone know how the price cap works for Economy 7 tariffs?

Lastater · 04/02/2022 07:49

If anyone does want to switch to Octopus (standing rate for electric is half the price quoted above) they have 24 month fixed deals with no exit fees, so free to leave whenever. We'd both receive £50 credit. Thank you if so :)

share.octopus.energy/lucky-cobra-919

userxx · 04/02/2022 07:51

[quote Lastater]If anyone does want to switch to Octopus (standing rate for electric is half the price quoted above) they have 24 month fixed deals with no exit fees, so free to leave whenever. We'd both receive £50 credit. Thank you if so :)

share.octopus.energy/lucky-cobra-919[/quote]

I looked into octopus yesterday and it is saying on the website to stick with your original supplier.

thewomanacrossthestreet · 04/02/2022 07:52

No, I'm with utitla no daily standing charges and cheaper than most suppliers on prepayment as well! I'm sticking with them.

thewomanacrossthestreet · 04/02/2022 07:53

[quote Lastater]If anyone does want to switch to Octopus (standing rate for electric is half the price quoted above) they have 24 month fixed deals with no exit fees, so free to leave whenever. We'd both receive £50 credit. Thank you if so :)

share.octopus.energy/lucky-cobra-919[/quote]
I know you want your £50 credit but if the company itself is telling people not to switch to them.. maybe lay off the referral links as you could potentially make someone get a higher bill for switching!

BarbaraofSeville · 04/02/2022 07:58

[quote poshme]@nannynick thank you.

Ouch! That standing charge is awful! [/quote]
It is but it is 'only' about £14 pm so less of the worry than the unit costs.

It might be worth paying a slightly higher standing charge if it gets you a lower unit cost, but YMMV.

@Lastater, I'm with Octopus and can only see 12M deals on offer. Plus if you try to join as a new customer, it takes you through a few screens saying 'nah, you don't wanna do that'.

Askawayyyy · 04/02/2022 08:00

Octopus energy just aren’t taking on new customers. Same for other supplies they can’t afford to at the moment.

Whilst the price cap might be lower than the current fixed rates on offer the price cap doesn’t last forever and could go up again in October or whenever it is. So make your decisions based on what fixed rates are available - remember just because you fix doesn’t mean you have to stay fixed you can still change supplier or tariff and whilst there are usually early exit fees most supplier wavier them in my experience

Lastater · 04/02/2022 08:04

Sorry, I switched a couple of months ago and the info was different. I wouldn't want to put anyone to pay higher and of course, would presume that people would check the rates against their current one! I've been impressed with Octopus and thought others might be too, but seems they are not taking on new.

userxx · 04/02/2022 08:23

Anybody with bulb ? Do we have any idea what will happen ?

nannynick · 04/02/2022 08:37

@Iamanicepersonreally I think that the cap applies to the standing charge and the Daytime rate, with the night rate being lower.
I have created a lookup table based on the April 2022 data from Ofgem.
docs.google.com/spreadsheets/d/1WNbIOQivBL2b1Zn0EUYvn0P-Ny_rxqo_4rJcyOtjhoI/edit?usp=sharing

thewomanacrossthestreet · 04/02/2022 08:50

@userxx

Anybody with bulb ? Do we have any idea what will happen ?
There prices will increase too.
userxx · 04/02/2022 08:58

@thewomanacrossthestreet I meant with the administration. Not sure if a new company will be formed or customers split up and dished out to other suppliers.