Energy companies are always caught up in the political mess, thrown to the dogs in my opinion, when it comes to “ripping off customers” and overcharging for electric and gas. The reality is this isn’t the case but we’ll discuss this another time. Since everyone has been talking about these price caps, energy companies are attempting to do something to stop the price cap.
As such EON first, and now Scottish Power have moved to scrap their standard variable tariff and now put people onto fixed price tariffs when their current one ends. This means that once your November 2017 tariff expires, you’ll be put onto a November 2018 tariff. What we’re unsure about is whether you will now be free to leave that tariff at any time for free or would you have to pay an exit fee to leave, I’d assume it’s the latter.
Is this good news, yes, however I’m sure prices will continue to rise and I doubt profit margins for these suppliers will get any bigger.
