The UK energy industry is looking very different to its usual self right now. Since the early months of 2022, we’ve hit unprecedented times in the global energy market and this has had a high impact on suppliers and customers. The rising wholesale price of gas and electricity means that energy suppliers, including So Energy, are having to pay more for the energy we’re buying to supply your home. In reaction to these higher prices, Ofgem (the regulatory body) have increased the price cap to protect consumers, that’s you. We’d like to keep you as informed as we can about what’s happening, how it may affect you and what support is on offer.

  • Who is affected by the price cap?

    The price cap will affect your energy bills if you’re on our So Flex tariff. This is our variable price tariff that changes with the price cap. If you’re currently on a fixed rate tariff, the price cap wont affect your bills. Once your fixed tariff comes to an end, you’ll receive an email about what to do next; renew onto another fixed tariff or roll on to the So Flex tariff. 
  • What is the price cap and when does it change?

    The price cap is a limit to what energy suppliers can charge customers on the variable tariff for their energy. The price per unit of energy (gas and electricity) is capped as well as the standing charges (a daily charge to cover connection and network costs and the provision of meters). This means there is no absolute cap on your bill – the more you use, the more you will pay.

    The price cap accounts for supplier costs (such as wholesale costs and the cost of purchasing energy from generators) and used to be reviewed twice a year. However, in light of this year’s unprecedented volatility in the global energy market, Ofgem have decided that the UK price cap will be updated 4 times a year - that’s once every 3 months. This will protect energy suppliers from losing money and going into administration, costing the industry millions in related levies, and will make the price changes to consumers more gradual and manageable. The next price cap change is 1 October 2022, followed by 1 January 2023 and periodically every 3 months. Find out about the price cap and how it affects you on our help page.
  • How will my Direct Debit change?

    Your monthly Direct Debit is the regular monthly payment you make towards the cost of your energy usage. When the price of our standard variable tariff (So Flex) increases, we need to adjust our customer’s monthly payments to avoid going into energy debt. If you're on our So flex tariff, your unit rates and standing charges will be changing on 1 October. You’ll get more information about this via email. You’ll also hear from us in September or October about a Direct Debit review. We’ll ask for an up-to-date meter read and will recalculate your monthly payment amount based on our usage and the new tariff prices. Your new amount will be based on your annual consumption and new tariff rates. If you have a Direct Debit set up, we’ll also include your government grant as part of the Energy Bill Support Scheme, see below for more details on this scheme. Paying the correct amount is important so you don’t fall into a debt that’s difficult to recover from. You can find out more about our Direct Debit review process on our help page. Or find out why prices have risen so much.
  • When will my Direct Debit change?

    Rest assured we won't make any changes to your payments without letting you know. We’ll be reviewing all Direct Debits for customers on our So Flex tariff from mid-September. As part of this review process, we’ll send you an email with your new rates and your new Direct Debit amount.
  • What if I can't pay?

    We always want to help our customers by giving you the best deal and helping where we can when money is tight. We can review your monthly Direct Debit, get your a smart meter installed so you have more control of your energy usage and share our energy saving tips. You can find out more about what we can do to help and find out about the help our partner MoneyHelper can offer too.
  • Is there support from the government in response to the rising energy prices?

    The short answer is, if you have electricity supply with us, yes. The government Energy Bill Support Scheme is £400 towards your energy bill and will be issued in 6 instalments of £66 to £67. You don’t have to apply for this discount, it will automatically be applied. You can find out how this discount will be applied to your energy bills on our Energy Bills Support Scheme blog post.There are a few scams around the Energy Bill Support Scheme, so we’d like to ensure you that we will not be contacting you asking for your Direct Debit details for you to benefit from this scheme.
  • Do I need to do anything on 1st October?

    We've been working hard at making the time around the price cap change as easy for you as possible. Your prices will be updated automatically, your Direct Debit will be recalculated and communicated to you via email and the government support will be included in your new Direct Debit amount. All we need from you is a meter read. If you’re on a fixed rate tariff that ends after 1st October, you don’t have to worry about submitting any reads during this time. If you’re on our So Flex tariff, you can get a smart meter if we've contacted you about this, then you wont need to submit any meter readings. Otherwise, to beat the queues, we recommend you submit a meter read via your online account on the week beginning 26th September 2022. Find out more about how to submit your meter reads here.
  • If you provide 100% renewable energy, why are prices going up? 

    So Energy buys 100% renewable electricity. This means that for every mwh (megawatt) of electricity supply to you, we work with renewable generators to match that amount with a green certificate (or REGO).
    The price we pay for wholesale energy is based on the blended prices of all sources of energy in the country, which includes wind, solar, coal, gas, and nuclear. Essentially, the price is the same, no matter the source - Ofgem base the price cap on energy prices from all sources.
    On average, about a third of the electricity from the grid is from renewable sources, while more than a third is powered by natural gas. Because gas is still needed in the mix to supply electricity to the country, the wholesale prices across the country are heavily influenced by the cost of generating from gas power stations. So even though it’s cheaper to generate energy from renewable sources, the price that suppliers and consumers pay is affected by these big increases in gas market.