[angus]

Hi guys

I need some helps. My fix rate contract ending 24/3/22. When I was trying to renew my tariff, the rate/unit and standing charge in Nextflex (The standard variable) seem a lot more expensive than I thought:

Electricity:
Unit rate 29.48p per kWh
Standing charge 41.66p per day

Gas:
Unit rate 7.32p per kWh
Standing charge 27.22p per day

From what I understand is between now until 31 March the Nextflex (The standard variable) should be price capped at e.g.

Gas
4.07p/KWh + Standing charge 26.12p/day
Electricity
20.8p/KWh + Standing charge 24.88p/day

did I get it wrong?

Many thanks
Angus

[meldrewreborn]

No you've not got it wrong the variable tariff is capped through to 31/3/2022, after that another higher rate applies for 6 months.

If you were mistakenly looking at a fixed tariff then the higher rate would apply straight away for 12 or 24 months. These would at least protect you against higher prices still from October onwards and have no exit fees so can be taken without fear of being trapped in an uncompetitive rate if prices were subsequently to fall.