Considering my new tariff, which kicks in on 6 October - Next Online v19 will have significantly higher unit costs even with the subsidy than the subsidised SVR; seems like a no brainer ...
Considering my new tariff, which kicks in on 6 October - Next Online v19 will have significantly higher unit costs even with the subsidy than the subsidised SVR; seems like a no brainer ...
Indeed. Looks like you will be best to cancel the switch and revert to the SVR on 6 Oct.
I don’t see any confusion regarding fixed tariffs. It says they will be reduced by a set amount so I read it as just that.
I agree that the wording of the statement implies that new rates for fixed tariffs will be reduced by the set amounts irrespective of whether this adjusted fixed rate tariff sees such customers paying rates below the announced SVT tariffs post October 1st. We shall see soon enough whether this is really what is intended. This is why I'm holding fire for the moment. In my situation it makes little difference either way. For others on different fixes to mine, the situation may be slightly different and produce wider variations.
@Mailman it seems tha standing charges will be as per Oct 22 OFGEM announcement. Martin Lewis has unit prices as electricity @ 34p and gas @ 10.3p - national averages of course.
Current Eon Next and EDF customer, ex Zog and Symbio. Don't think dual fuel saves money and don't like smart meters. Chronologically Gifted. If I offend let me know by private message, but I’ll continue to express my opinions nonetheless.
I'm thinking that the reduction for fixed tariffs will be the same percentage as the reduction on SVR tariffs versus the Oct price cap unit rates. If the reduction were a set amount this would be more favourable to consumers which is then of course more costly to the government.
It wouldn't be much of a difference if the headline rates were close - but they are not.
My electricity region is Eastern. The unit rate in October was due to be 52.91 p per kWh. So it's now going to be circa 35p a reduction of 18p on the SVR.
But my electricity fix is @ 29.24p. If they applied the same pence reduction of 18p, my rate would go down to just over 11p. If they apply the percentage reduction of circa 30% then my rate will be about 20.5 p.
I'd be ecstatic if they went the pence reduction route - but they couldn't be that stupid could they? But there again.................
Groan… As far as I was concerned all the speculation was over. It’s all there on the Gov website. Now you’ve got me using percentages and Eastern rates (I’m in the same region) to check that way.
Right now it looks like if I’m not better off on my fix then I won’t be too much worse off either. Too many variables to get any exact figure for me but I don’t think it will matter too much one way or another.
Now I’m going to do a Captain Blackadder… put my underpants on my head, a pencil up each nostril and go ‘wibble wibble wibble 🤪
@JoeSoap
you are correct. It says reduction of 17p off electric and 4.2 p off gas. I’m surprised but on a very personal note very happy.
whether to fix or not has long been a topic of debate here. The increasingly worrying forecasts from the likes of Cornwall Insight have been borne out, and those who acted to fix predicated on those forecasts have had their decisions fully vindicated, but nobody could have predicted how the government support would be structured, so they’ve been very fortunate.
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