Stupid and need help! Capped bills...

KS1234_2

I am obviously being a bit dense but I am going round in circles reading all the small print and hope someone will take pity on me and explain it like I'm a 2 year old...

Following the urgent message to switch I finally got round to doing it - have kept putting it off because I tend to get flummoxed by numbers and find it all quite stressful. No excuse, so I have followed the advice, gone to the comparison site and switched to British Gas's price guarantee till Dec 09. My problem is this - what does the capped thing really mean? The figure that I gave the comparison site as my average quarterly spend is right, but what if that goes up - do I have to pay a higher rate over a certain amount? I know this probably seems a bit dim of me not to get it but I'm confused!
:rolleyes:

Edinburghlass_2

I was just watching Martin on GMTV and don't worry about being confused as so were the presenters! Have a read of Martin's article here...

http://www.moneysavingexpert.com/utilities/you-switch-gas-electricity

billsavings

Martins Latest Energy Capping Q&A here: http://www.moneysavingexpert.com/tips/30-07-2008/

KS1234_2

Thanks! Really glad to hear its not just me...! However, having read this I'm still not clear on the answer to the question about going over the average energy spend you give when you switch. Oh dear...I must be denser than most after all!

notbritishgas

KS1234 wrote: »

I am obviously being a bit dense but I am going round in circles reading all the small print and hope someone will take pity on me and explain it like I'm a 2 year old...

Following the urgent message to switch I finally got round to doing it - have kept putting it off because I tend to get flummoxed by numbers and find it all quite stressful. No excuse, so I have followed the advice, gone to the comparison site and switched to British Gas's price guarantee till Dec 09. My problem is this - what does the capped thing really mean? The figure that I gave the comparison site as my average quarterly spend is right, but what if that goes up - do I have to pay a higher rate over a certain amount? I know this probably seems a bit dim of me not to get it but I'm confused!
:rolleyes:

The "capped " bit means that the tariff, ie the price you pay per kwh will not rise until Dec 09. If however the price falls !! your price will reduce, if the BG deal is a "fixed" deal then your price will remain the same until Dec09.
But if you use more kwh, ie your quarterly average goes higher than that you put in the comparison site then your bills will be higher.

debbiefletcher

I just posted this on another thread but I desperately need help understanding if capping will help me. Any chance that fuel will go down at a later date and I will be locked into this more expensive tarriff.

I'm confused, I switched in January to Click energy 4 with British Gas. I checked the comparison site this morning to cap and it says that British gas is my best bet but the tarriff makes me around £400 worse off 15%. As the capping is only until 2009, Is it worth me capping?

I would be grateful for any advice

billsavings

KS1234 wrote: »

Thanks! Really glad to hear its not just me...! However, having read this I'm still not clear on the answer to the question about going over the average energy spend you give when you switch. Oh dear...I must be denser than most after all!

Whatever your consumption higher or lower you pay the Price Guarantee December 2009 customers prices until 31st Dec 2009.Obviously if you use less Bill goes down, use more Bill goes up.

There are cancellation penalties if you leave this tariff before the contract end date of 31/12/09, and these are £55 for gas and £20 for electricity, unless cancellation is due to a home move.

KS1234_2

This is all very helpful - thanks goodness for these forums, I'd be confused for ever otherwise!

debbiefletcher

debbiefletcher wrote: »

I just posted this on another thread but I desperately need help understanding if capping will help me. Any chance that fuel will go down at a later date and I will be locked into this more expensive tarriff.

I'm confused, I switched in January to Click energy 4 with British Gas. I checked the comparison site this morning to cap and it says that British gas is my best bet but the tarriff makes me around £400 worse off 15%. As the capping is only until 2009, Is it worth me capping?

I would be grateful for any advice

Can anyone help?