The amount that a customer would have to pay for gas, electricity or both over one whole year.
A written document that suppliers must provide to each customer, each year. The Annual Statement contains a range of key tariff information, including tariff name, consumption over the previous 12 months and estimate of annual cost for the next 12 months.
Describes the interest rate for a whole year, rather than just a monthly fee or rate, as applied on a loan, mortgage, credit card etc. It is a finance charge expressed as an annual rate.
The Gas and Electricity Markets Authority, sometimes referred to as GEMA, that acts as our governing body.
Where, due to the terms of a contract, a supplier has the ability to extend the duration of an existing Fixed Term tariff or apply a new Fixed Term tariff without a consumer’s positive assent.