Prepayment Price Cap

Want to know more about the prepayment price cap?

You may or may not have heard (or just be generally confused) about the prepayment price cap that has been proposed.

The plan risks raising bills for dual fuel prepayment customers by just under £1 a week.  However, according to a Competition and Markets Authority spokesperson, the plan is based on striking the “right balance between protecting vulnerable consumers and ensuring energy suppliers are still able to operate and compete”.

A higher percentage of prepayment customers are classed as vulnerable, meaning there is greater worry that the new price cap rise will have significant repercussions on this consumer group, especially as they may face yet more rises later this year.

The price cap was originally due to run alongside the Smart Meter roll-out initiative, with the cap falling in line with the growing number of smart meter installations. Due to the delay in the initiative, there are discussions that the price cap could stay in place until 2020.

It has been raised that there are limited suppliers that are currently providing prepayment customers with smart meters and therefore leaving vulnerable customers open to potentially further financial risk.

As the energy company with a strong customer focus and smart meter installation programme, Nabuh Energy is working ahead to ensure that prepayment customers are not only being offered a smart meter in line with the Government initiative but are also paying more affordable prices. The Sunday Times (June 2019) recently highlighted the company as the cheapest supplier with an average annual spend of £900 on their Energy Deals piece.

The company has also shown to be the cheapest Northern Scotland tariff, the cheapest Prepayment tariff in various regions and to have one of the most competitive Direct Debit tariffs via many comparison publications and websites.

The use of fixed-term tariffs and no exit fee aids customers in their weekly/monthly budgeting, ease of movement and acknowledgement of daily spend.

The aim is to continue the company growth whilst ensuring that prepayment customers are receiving the service and price point that they deserve.

Standing Charges

Let’s talk about Standing Charges…

 

Q. What is a standing charge?

A. Energy bills/statements are just like telephone bills/statements, as with phone bills, you are billed for the line rental and specific calls on top. With energy, it is essentially the same with standing charges being the cost of having a gas and/or electricity supply – then usage on top.

This means the standing charge is the fee you pay to have us supply your energy.

 

Q. Why would I pay a standing charge if I don't have to? 

A. Without a standing charge, you would end up paying more than you must for each unit of energy you use.

This means, if you have a high standing charge, you may pay less for usages and visa versa.

 

Q. Do switching sites help me find the cheapest tariff? We always advise our customers and others to be careful and to check details carefully when using comparison sites. You may find that many only ask for your monthly usage and receive a quote based on you using this amount every month and the estimate you receive in comparison to your actual costs may differ.

A. We always recommend checking and comparing your standing charge and usage charge. Also, check the companies (like us) that aren’t available through switching sites, you’ll often find many amazing and possibly better deals.

 

Q. Why are standing charges always within the small print and sometimes hidden?

A. We never hide our standing charges, nor do we try to hide them. We always stay within the regulated limitation and will only recommend our tariffs if they are beneficial to you.  We are happy to discuss all our tariffs with you. 

Please contact customerservice@nabuhenergy.co.uk for any further information you may need.

Avoid the price rise

The new price cap has caused some concern for millions of energy customers, with many being stuck on Standard Variable rates which are often £300+ more expensive than some of the cheapest deals available on the market. 

 

It’s been highlighted in the news and many switching websites recently that people could see their energy bills rise by over £100 in the next couple of months.  With the standard variable tariffs expecting to be an average of £1,254 per year and prepayment meters being an average of £1,242 per year as OFGEM increase the price cap by an extra £117 per year.

 

Luckily, there is a way to avoid these huge price rises.  Simply, switch.  There really is no reason to be paying more than you need to and with Nabuh Energy, you will be seeing the savings as soon as you switch.

 

Our current Smart meter tariff, the PAYG Tina Tariff, which is only available when signing up online can see customers slash their annual energy bill.  Why pay more?  Simply visit www.nabuhenergy.co.uk for a quick and easy, free quote and see how much you could save.  Factor in the no exit fees or contracts and you will find that you have nothing to lose and everything to save.

 

 

Join today.

Economy 7 Off Peak Hours

The Off-peak hours for Economy 7 vary across the country.  Most variations depend on the type of meter you have and the time of year, for example, British Summer Time (BST)

The easiest way to work out your exact peak-hours is by checking your meter.  Some meters may even show the list on the meter itself or next to it, however, please be aware that meters can vary.

If your meter does not show the off -peak hours, check your region from the list below;

Region Number Area Timings
10 Eastern area 7 hours between 11pm and 7am
11 East Midlands area 7 hours between 11pm and 7am
12 London area 7 hours between 11pm and 7am
13 Merseyside & North Wales area 7 hours between 12am and 8am
14 Midlands area 7 hours between 11:30pm and 8am
15 North East area 7 hours between 12:30am and 7:30am
16 North West area 7 hours between 12:30am and 7:30am
17 North Scotland area All meters have different settings
18 South Scotland area 7 hours between 10pm and 8:30am
19 South East area 10.30pm to 5.30am and 12.30am to 7.30am
20 Southern area 7 hours between 11:30pm and 6:30am
21 South Wales area All meters have different settings
22 South West area All meters have different settings
23 Yorkshire area 7 hours between 12:30am and 7:30am

 

If you’re not sure what region you fall under, you can find the code on your statement on the top right or you can always ask one of our customer service team members to let you know by emailing us at customerservice@nabuhenergy.co.uk

 

****REMINDER****

If your E7 meter is Clock, the internal clock will not change with British Summer Time so you must always remember to add on the extra hour when checking for your off-peak hours and remember to change when the clocks go back.

Live Chat!

Looking for a faster response? Need a quick answer to a simple query?

We understand that our phone lines can be busy sometimes, that's why we have our Live Chat feature available on our website every day from 10.30am - 5 pm. Find us on our Contact Us page here.

Chat to Melissa and the rest of our Customer Service Team to discuss any queries you may have.  Our phone lines can become busy during peak times and after holidays and our Facebook messages are monitored daily, we are able to quickly resolve your queries via our website chat.

Simply visit www.nabuhenergy.co.uk and start a chat and one of our dedicated customer service team will answer any queries you may have.  We love to talk, why not start your first chat today!