Skip to main content
T
Rank 1
ttid2022
Rank 1
October 1, 2023
Solved

Is the payment amount fixed on a Fixed Rate Tariff?

  • October 1, 2023
  • 2 replies
  • 582 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😊

Best answer by BPLightlog

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

2 replies

T
Rank 2
Tiggy777
Rank 2
October 1, 2023

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
    Super User
    BPLightlogSuper UserSolved
    Super User
    October 1, 2023

    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

    Bring me Sunshine ~ E&E {Solar PV, Battery Storage, Hybrid EV, ASHP and Home Assistant automation}
      Terms & ConditionsAccessibility statement

      OVO Energy Ltd, Floor 5, Crescent, Temple Back, Redcliffe, BS1 6EZ, (Company no. 06890795) registered in England and Wales.

      OVO (S) Gas Limited is registered in England and Wales (Company No. 02716495) at Floor 5, Crescent, Temple Back, Redcliffe, BS1 6EZ.

      OVO (S) Gas Limited is part of OVO Group Ltd