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Is the payment amount fixed on a Fixed Rate Tariff?

  • 1 October 2023
  • 2 replies
  • 244 views

Hi apologies for the probably daft question but when you swap to a fixed rate tariff, does that payment stay the same every month or can it be raised?  I'd just like to know how much will come out each month with no nasty surprises.

Thank you😊

2 replies

T
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I presume the rate per kWh would be fixed ie rate per unit of electic used.  The fixed element relates to this rate not changing.

I amount you pay over a year would depend how much electric you use.  This isn't the part which is fixed.  Obviously the less you use the lower your monthly payment which would be adjusted over time based on your usage. 

Hope that helps

BPLightlog
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Userlevel 7
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Hi @ttid2022 , as has been said, the fixed rate applies to the price per kWh used. 
If you have a good history so your yearly kWh is fairly well known, most suppliers try to divide your annual spend into 12 equal amounts to maintain a flat monthly spend. Of course, if your annual usage changes (power used), then there might be an adjustment made

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