Understanding your utility tariffs
As a member of the mySycous Team, I can say with confidence that one of the hottest topics we discuss with our customers every day is Tariffs.
We believe that it is important to understand your utility tariff so you can have confidence in your bill and your utility provider. That is why we will always do our best to make sure you have as much information you need to trust your utility statement.
What is a Tariff?
A tariff is a rate at which you are charged for your utilities. For example, this could be per kWh of heat, per m3 of water or a pence per day fixed charge. Charges are usually reviewed on an annual basis, and you will be notified well in advance of any changes.
You can find your tariff details on your In-Home Display, if you have one, or on your latest statement. You can also reach out to our mySycous Team who will be happy to give this information to you too.
Who sets my tariff and charges?
Your tariff is set by your utility provider, who will communicate these rates to mySycous to provide a meter management and billing solution.
How does my utility provider decide what value the tariff should be?
Your tariffs are usually designed to recover the fixed and variable charges associated with running of the utility network in the fairest possible way. For example, this can include costs for administration, the fuel cost and other related costs.
Also, some tariffs are subject to regulation and industry compliance, such as electricity when resold.
Tariffs differ widely depending on a number of different factors, and if you would like to learn more about your own tariffs, we’re happy to help and can put you in touch with the right person at your utility supplier.
The idea is that the tariff reflects the cost of providing the service, in the same way as it does for other utilities and communal services.
Your tariffs and mySycous
We recognise that our society faces the ongoing issue of fuel poverty, and we have a responsibility as a business and as individuals to mitigate its effects and to work towards the eradication of the fuel poverty gap.
One of the three main causes of fuel poverty is fuel prices. Recognising that our costs are often included in consumer tariffs, we are committed to providing the best value solutions to utility providers which means your costs are lowered as much as possible.
If you have any more questions about your utility tariffs, please click here to take a look at our support pages.