The fixed they were offering would be £193 x12, the variable £111 x12 - versus the £105 variable I settled upon.
I must confess, I don't really understand how the cap works - have I made a mistake or not in signing up?
The cap is a maximum annual charge for a customer who is an 'average' user. If you are a high energy user you will pay higher than the cap. The cap is set using average energy prices over a 6 month period. The next cap adjustment is Apr 2022 where it is expected to rise again due to the current spike in wholesale prices paid by our local energy providers.