Should you’re on a variable tariff, like our Versatile Octopus, the value cap (as adjusted by the Power Worth Assure) does have an effect on you – however not immediately. It would take impact from October 1st. From then on, suppliers will be capable of use the brand new worth cap to find out their variable tariff costs.
The worth cap particularly applies to variable tariffs as a result of they aren’t mounted in opposition to the volatility within the vitality markets. Totally different suppliers can refer to those tariffs in various methods; normal variable tariff (SVT), non-fixed, and so forth. At Octopus our variable vitality tariff known as Versatile Octopus.
Should you’re on a hard and fast tariff, the value cap would not have an effect on you, however the Power Worth Assure now does. The place your present charges and fees would usually be locked in to the tip of your contract, the Power Worth Assure might provide you with discounted charges (go to this Authorities web page for extra data).
Should you’d like to verify 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 somewhat method down and have a look at the main points beneath your property tackle).
You possibly can learn extra concerning the vitality worth cap and whether or not impacts you on Ofgem’s web site right here.
