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

39 replies

procrastinatingtree · 04/10/2022 12:56

Anyone know?

OP posts:
notdaddycool · 05/10/2022 08:14

I guess there are people who have fixed terms ending every day but relatively few as most people fixed a year at a time. For government to coordinate a scheme that covered this and maybe didn’t pay out to millionaires would cost more than the saving of making it universal, and take ages to build systems and answer queries. Making it universal is by far the easiest way to do it even if there are some anomalies.

Ilikepinacoladass · 05/10/2022 08:36

Preseli · 04/10/2022 17:05

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

Most people are on variables I think!

Preseli · 05/10/2022 09:17

Ilikepinacoladass · 05/10/2022 08:36

Most people are on variables I think!

Most people are, but this thread was asking about people who are on a prior lower fix.

If you are on the variable then you are essentially fixed anyway as the government has fixed the average use for the next 2 years and energy companies aren't going to be charging less than that cap

Ilikepinacoladass · 05/10/2022 13:29

Are some people on a fixed which is a higher rate per kWh than the government cap?

dementedpixie · 05/10/2022 13:31

Yes some people are on a higher fix. As far as I know these higher fixes are being lowered by a certain price per kwh to take them closer or even to match the price guarantee prices

dementedpixie · 05/10/2022 13:33

Fixed tariff customers will have the same support where appropriate. Unit price reductions of up to 17p/kWh for electricity and 4.2p/kWh for gas will apply to fixed tariff customers that currently have unit rates above the EPG

BonesOfWhatYouBelieve · 05/10/2022 13:59

speakingofart · 04/10/2022 20:37

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!!

Yes, we're in the same position. We pay £58 a month (which is right for our usage, we've paid it for over a year) and are fixed until March 2024 so our DD will be refunded and the extra applied as a credit to our account.

I feel a bit bad about it (especially as we have so long left on our fix) but I do understand why the government has done it this way.

PeekAtYou · 05/10/2022 14:01

Everybody gets it.
It's easier than trying to come up with a number that's "fair"

Dmsandfloatydress · 05/10/2022 14:21

We are donating it to the fuel bank . We don't need it as we fixed until next June.

FarmersWife2019 · 05/10/2022 14:24

My mum had an email from Octopus saying because she fixed before 1st April (she fixed on 17th March) that she won’t be eligible for the business support. 🙄

princessbear80 · 05/10/2022 14:27

Janek · 04/10/2022 16:51

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!

I don’t think we do have to pay it back via our energy bills, they changed their mind on that.

(We will of course be paying it back via taxation).

Whammyyammy · 05/10/2022 19:11

I'm fixed til next spring, my energy provider (edf) emailed and said they will just transfer the £400 into my bank account at £66 & £67 amounts each month 🤷‍♂️
Mine will go on treating my grandchildren... cheers

MinervaTerrathorn · 05/10/2022 19:18

dementedpixie · 04/10/2022 17:57

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

They will go up compared with this summer, but same rates as what's just come in.

NoWordForFluffy · 05/10/2022 19:36

procrastinatingtree · 04/10/2022 16:04

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

I'm also fixed until Aug 23. I'm saving the money for when my fix ends (EDF pay it back to our bank account).

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