Do people who were on fixed rates prior to the crisis still get £400?

[procrastinatingtree]

Anyone know?

Yes - everyone. I fixed Oct 21 and am getting the £400

Okay thank you. Mine is fixed until August 23. Seems a bit unfair

Yes. My account has been adjusted today. Fixed until next summer, octopus.

Why is it unfair?
It's probably easier to give it to everyone than try to work out who should or shouldn't get it

I mean it's a bit unfair that I get it when I don't need it because my bills remain low.

Use it for something else or donate it then

There are several charities you can donate it to if you don't feel you need it

Yes. You can donate the money to charity if you're feeling guilty about getting it.

I won't be, I'll be saving it for when my bills go up after my fix. I don't have a gas supply which isn't my fault or something I can change, but rather feeling that it's "unfair" that my neighbours two streets away have the option of cheaper heating, I'll just arrange what I have to make the best of it.

Bear in mind our bills will rocket next summer. I'm using it to get massively in credit.

Why will bills rocket next summer?
The price guarantee runs for 2 years

If you don't need it then save it - we have to pay it back over five years. It's not free money. It's robbing Peter to pay Paul!

Yes,we're on a fixed rate and got an E mail from the power company saying we would be getting £400 rebate

Due to the fact that the fix ends next year, you will suddenly see all the price increases we have had in the last 1/2 years at once applied to your bill.

ie, we fixed when the cap was £1200 - this will change to £3500 after the fix ends which is a 191% increase on our expected bills next year. So my summer usage will go from roughly £40 to £120 next year.

Doesn't change the fact that if you are fixed on a lower rate you are saving money compared to people who aren't currently, but it will get you in the end anyway.

Do you mean your bills will go up? The overwhelming majority of households are currently on the cap rates and won't be seeing increases in rates for ages

This is how scare stories get started

Sorry, should have made it more clear that I only mean if you are fixed at a lower rate already...

If you are already fixed at the 3500 then you won't see any changes for 2 years when everything changes again

We are fixed until next May but still get the £67 a month reduction. We are also about £300 in credit so I am stacking that up to help when the fixed rate ends and our bills double (or worse)

No one is on a fixed amount of £££ regardless of whether the unit rate is fixed the cost will vary with useage

If your fix actually means you are spending that much per year you might be better off on the SVR unless you are a very high user

It’s a blunt tool. I’m not on a fix but I don’t need it either because we are a low using household so we’ll only be paying a couple of pounds a month after the discount. Just donate the money instead or save it.

I likely won't get it at all because I top up a submetre. Landlord pays one bill for a whole block of flats and we then reimburse him through our metres. If it's one bill for the whole block, he will only get one £400 and have to divide this by every flat. So we will likely only get about £5 a month less usage on our metres per flat. It's ridiculous.

demented my bills will go up as I fixed in June 2021. Whatever I move to will be higher than I have now.

My dad is fixed until next year but will still get 1k of free money with this £400 and extra winter fuel payment ! I guess he can save it until next year when his bills rise although he doesn't really feel the cold much.

You worded it as if everyone's bills would increase next summer which is not correct

Fair point demented. I did.

Donate it to charity then?

Yup! So I'm actually making £7 profit a month because my direct debit is £60/ month normally, so no energy costs at all until next spring.

Bizarre!!