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Old 26-11-2021, 15:29   #268
Jaymoss
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Re: Energy companies collapse

Quote:
Originally Posted by Chris View Post
No energy company is allowed to charge you more than the price cap. If someone is offering you a new fixed rate, IIRC it can’t be more than the cap, so you won’t be any worse off on it than you would be on a variable rate. Plus, as the cap will for certain rise substantially next spring, if you are lucky enough to find a fixed rate that lasts more than 6 months you might actually save a little by next April.
That is not correct. Fixed rate can be more than the cap

"The price cap only applies only to domestic energy customers paying standard variable rate energy tariffs (SVTs) – also known as ‘default’ tariffs. So those with a fixed-rate energy tariff are not affected by it."

https://www.forbes.com/uk/advisor/en...gy-price-caps/

There are loads of fixed rate tariffs out there way in excess of the cap. Hoping you bite and are worried abotu the rise coming and hoping the prices drop in time to not lose on it
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