Changes to Ebico’s zero standing charge energy plan
This year, following UK Government legislation, the energy market Regulator (Ofgem) has developed a mechanism for capping variable and default energy plans. We engaged with Ofgem (you can find our response here) during the consultation period for the Price Cap and highlighted the risk that the Cap would force us to end the zero standing charge variable plan. Unfortunately, Ofgem did not change their plans in response to our representations. Regrettably, the Price Cap, being implemented by the end of the year, makes our Ebico Zero variable energy plan structure commercially non-viable. To remain both compliant and commercially viable, we have had to review the Ebico Zero energy plan and introduce a standing charge. As the revised plan will include a standing charge, its name will change to â€˜Ebico Standardâ€™.
We understand that, for most of our customers, the no standing charge element of the Ebico Zero energy plan is its key feature which they will want to keep. So, we have introduced Ebico Zero Green Fixed. This is a no standing charge, green, fixed term energy contract and, as it is not our default contract, it is not subject to the Price Cap mechanisms. The price is fixed for 12 months and the energy plan has no exit fees, giving customers complete peace of mind. For compliance reasons, customers are asked to opt-in to the Ebico Zero Green Fixed energy plan. We have made this opt-in process easy and straight-forward and customers can switch with a click of a button through their online account management portal or call our dedicated opt-in line on 0800 953 9597 (Mon-Fri 9am-7pm, Sat 9am-5pm).
Below is a comparison between Ebico Zero and Ebico Zero Green Fixed.
|Ebico Zero||Ebico Zero Green Fixed v2|
|Zero standing charge||Zero standing charges|
(the price can go up and down at any time with 30 days notice)
|12 months fixed price|
|1% unit rate reduction for paying by Direct Debit||4.5% unit rate reduction for paying by Direct Debit|
|No tie-ins or Exit fees||No tie-ins or Exit fees|
|Green energy plan1|
1 The electricity that we provide for our green energy plans will be certified as being sourced from UK based wind and solar generators. We actively look for opportunities to support new schemes but some of our energy will be provided from existing UK based projects.