GB Energy Price Hike

dollydiva wrote: »

Received an email from GB Energy announcing they were raising their variable rate tariff by 7%


Never really been happy with this bunch of amateurs since I discovered they want meter readings every month AND unless you give them on the last day of the month, you get an estimated bill.


The increase takes place on 21 August - oh but you can avoid it by signing up ANOTHER 12 months onto their fixed 12 Crystal Tariff. In other words, we're holding you to ransom unless you sign up again.

I really, really, shouldn't bother with any Energy supplier recommended by mse Energy Club. 3rd time in a row now that it's turned out to be a con - they sell it to you saying its' the 'best' low tariff and then sucker you in; then the price increases start and the Energy Club has the damn cheek to email you to tell you that you're not getting the best tariff. Evidently, irony is lost on the Energy Club.:mad:

Complete rubbish. GBEnergy's prices are the lowest on the market for electricity in my area. Prices are increasing because the cost of oil is rising in the World market, and we pay for oil in $s. Standard variable tariffs are just that - variable. GBEnergy has met its licence obligation by informing you of the increase and given you a choice - stay or switch. There is no ransom: you are just annoyed that electricity prices are on the rise. Sadly, this is now a fact of life.

As far as bills are concerned, as reported many times on this forum, if you provide GBEnergy with an actual meter for the day of the month when you transferred supply, then your bill will be based on actual meter readings. My billing date is the 10th, I got my bill based on actual meter readings yesterday.

As far as MSE CEC or any other comparison site is concerned, they can only report tariffs that exist on the day that you compare. They have no insider information as to when suppliers will change their prices. Like many, I took the opportunity to fix my electricity supply tariff with GB when the limited time offer Topaz12 was on the market.

Edit:

I have just checked. On a spend of £350 per year, GBEnergy would cost me £6 per year more on the Premium Energy Saver (variable) tariff and £12 more a year on its lowest 12 months fixed tariff. It is still the cheapest electricity supplier on the market in my area and for my consumption.

lstar337 wrote: »

Why are any of you on a Variable tariff?

Fixes have been either the same or lower than variables for over a year.

Not with GBEnergy. Premium Energy Saver (variable) has been their cheapest tariff for as long as I can remember. When energy prices were falling, it made sense to be on it. Topaz 12 was a warning of things to come. It allowed customers to fix at a price similar to Premium Saver with no exit fees.

Hasbeen wrote: »

See post 6. GB variable was cheaper to me than any fixed rate and fixed rates usually have exit fees to pay.

GBEnergy, to my knowledge, has never charged exit fees. I am currently on Topaz12, taken out in May, with no exit fees.

Electricity
Tariff Name . . . . . . . . . . . . . Fixed 12 Topaz
Product Type . . . . . . . . . . . . . . . . Fixed Rate
Payment Method . . . . . Monthly Direct Debit
Unit Rate . . . . . . . . . . . . . . . . . 9.3800p/kWh
Standing Charge . 15.00p/day (£54.75/year)
Tariff End Date . . . . . . . . . . . . . 25 May 2017
Price Guaranteed Until . . . . . . 25 May 2017
Early Exit Fee . . . . . £0.00 per fuel (inc VAT)
Estimated Annual Usage . . . . . . . . 2519kWh