During the energy crisis, some customers have reported unexpected unit rate changes whilst in a fixed price contract. Some customers that believed they had signed up to a fixed rate contract found themselves in this position after they received a letter from their supplier warning them of a price increase. One of these letters informed the customer that they should expect a 20% increate to the unit price for their gas. Suppliers have been able to do this due to specific information included within the terms and conditions of the contract. This is why it is extremely important to always check the terms and conditions before signing up to a new contract.
With the current unpredictable market conditions, an energy supplier explains we should anticipate “a sharp increase in the gas and carbon prices by up to 300%, reduction of wind and solar generation by 75%, shortage of gas and reduction of gas storage capacity in the UK”. The customers affected by this have been given two choices, they can either leave the fixed contract with no penalties or remain on the higher tariff for the remaining duration of the contract. This has left many businesses wondering if their fixed contract is fully fixed.