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😊
Answer
Is the payment amount fixed on a Fixed Rate Tariff?
Best answer by BPLightlog
Hi
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
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
+5- Plan Zero Hero
- Answer
Hi
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}
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