No Standing Charge Electricity Tariffs: OFGEM says they’re coming, but will they save us money ?

Warning to low Electricity and Gas users: If you are anything other than a high user of both fuels, don't be tempted by offers from your supplier to fix your tariffs now. These are coming in thick and fast on the back of the latest price cap rise, with OFGEM actually 'co-conspiring' with suppliers to try to get you to fix. The rationale being peddled is to "...protect yourself against future price cap rises...". If you do succumb to the temptation, however, you'll lock yourself into a contract lasting at least a year with exit penalties, and won't be able to take advantage of any No- or reduced-SC tariffs that appear this winter....companies want to avoid subscribers switching to these tariffs, since they know they could lose money as a result, and are using fixing as a deterrent, so beware. One item of note to surface very recently is that EDF are now offering a fixed rate product with a reduced SC in a desperate effort to get you to fix. This suggests ...