When you’re on a mounted tariff, the worth cap doesn’t have an effect on you. Your present charges and expenses can be locked in to the tip of your contract.
When you’re on a variable tariff, the worth cap does have an effect on you – however not straight away. The worth cap introduced as we speak take impact from April 1st. From then on, suppliers will be capable to use the Worth Cap as a information for his or her variable tariff costs.
The worth cap particularly applies to variable tariffs as a result of these aren’t mounted in opposition to the volatility within the vitality markets. Totally different suppliers can refer to those tariffs in quite a lot of methods; commonplace variable tariff (SVT), non-fixed, and so on. At Octopus our variable vitality tariff is known as Versatile Octopus.
When you’d like to substantiate which tariff you are on, and particulars like your present costs and contract dates, you’ll be able to see them in your on-line account (scroll a little bit means down and have a look at the main points beneath your property handle).
You possibly can learn extra in regards to the vitality worth cap on Ofgem’s web site right here.
