FAQ March 21 Price Increase

Exit Fees
Q. Will I have to pay an exit fee?
A. There will be no exit fee charged, if you change supplier before the 19th of March 2021

Q. What period do I have to opt out of my current contract?
A. You have until 19th March 2021.

Price Increase
Q. Why are you increasing electric prices?
A. We have always been committed to providing you with competitive electricity prices, as well as exceptional customer care and service. However, market energy and network costs, which are outside of our control, have been increasing steadily in recent months. While we have made every effort to absorb these costs through the winter for our residential customers, we now need to reflect those increases in our electricity prices.

Fixed Term
Q. Are you allowed to increase my prices if I have a fixed term contract?
A. Yes, your prices can change. This is because the discount term is fixed, not the unit rate/standing charge prices. This is detailed in the terms and conditions that were sent out as part of your tariff change.

Fixed Rate
Q. I am on a fixed rate tariff. Will my prices be changing?
A. No. Fixed Rate (Advantage) prices won’t be affected. Your contract ensures your prices are fixed for 12 months from your tariff start date.

Affordability
Q. I can’t afford the price increase. What support is available to me?
A.

Price Increase details
Q. How much are prices increasing by?
A. 3.9% for unit rates and 3.9% standing charges, for all variable rate customers. This will equate to approximately 7p per day including VAT.

Existing Incentives
Q. Am I still entitled to my free credit?
A. Yes, if you keep to your existing contract terms, any remaining credit can be redeemed within the remainder of your contract.

Payment Methods
Q. What payment methods are affected?
A. All Billing and Keypad customers.

Direct Debit increase after Account Review
Q. I’ve recently had my account review and my Direct Debit has increased. Will this be increasing again?
A. Yes. Your Direct Debit is regularly reviewed in line with consumption at your property. If your Direct Debit amount needs to change (increase or decrease), we’ll send you notification through your chosen method of contact.

Complaint
Q. I’m not happy with this price increase, can I appeal this decision?
A. We will be writing to you in February, providing the required 21 days notice period, before the price change comes into effect on 19th March 2021.

You can contact us to see what alternative tariffs are available that better suit your needs. Please use our Live Chat option or call 0800 012 1177.

Have you considered energy efficiency advice?
Code-of-Practice-on-Efficient-use-of-Electricity-August-20.pdf (budgetenergy.co.uk)

You do have the option to log a closed complaint for feedback purposes. This will be reviewed as part of our Continuous Improvement processes. (Note these cannot be individually responded to.
CoP-Complaints-Handling.pdf (budgetenergy.co.uk)