British Gas Price up 35% - full details

jigglestar

So now I am totally confused! Have just had a letter about the fixed rate from BG - is this worth doing?

nets_2

jigglestar wrote: »

So now I am totally confused! Have just had a letter about the fixed rate from BG - is this worth doing?

Just found this on the front page of this site

However on Tues 5 Aug at 5.30pm, the last route to get these closed; all the new caps are now at a higher rate, so, in general, it's no longer worth doing.

MrBlonde_2

nets wrote: »

I dont know what to do..
I had a leaflet from BG telling me about fixing prices until 2011.
I don't know whether to fix the price or go onto their clickenergy5 plan,
I know we can't predict whats going to happen regarding gas prices in the future, but after reading some posts on not fixing prices, which i was going to do, i am now left wondering which would be the best thing to do....

Bgas based on previous actions will make sure that click energy is the cheapest dual fuel tariff on the market based on standard unit prices (after the dust settles) but as you know its not protected against future increases. It is a gamble, the options are...... pay less now and face the unknown future or..... fix your unit price for 3 years, a long time!

Experts predict the chance of prices dropping is highly unlikely and go as far to say as possibly 60-70 % increases. No one has a crystal ball so all you got is predictions

1carminestocky

Be VERY careful switching to ANY capped/fixed tariff, even the ones Martin was extolling the virtues of last week!! I reproduce below a post I've just made (I've made it into its own thread because I think it's important people realise what's happening).

http://forums.moneysavingexpert.com/showthread.html?t=1081489

Today, 1:37 PM #1 1carminestocky vbmenu_register("postmenu_13136401", true);
MoneySaving Convert


Join Date: Jul 2008
Post Count: 180
Thanked 83 Times in 37 Posts


Switched from Click 5 to Price Protection Dec 2009?? BEWARE!!!!!
I admit I fell for the hype/panic last week and went for the BG Price Protection Dec 2009 deal a few hours before BG Announced the 35%/9% increase on the standard tariff. My confirmation letter (Electricity) arrived yesterday, with the (excluding VAT) figures on the back.

Here's the new figures for Electricity:

Tier 1 25.91p per kwh
Tier 2 10.89p per kwh

Compare this to the current Click 5 prices (I *know* the price will rise but if it mirrors the standard tariff it will be around 9%)

Tier 1 22.578p per kwh

Tier 2 7.621p per kwh

Now I'm no mathemetician but by my reckoning the 'important' figure (i.e. Tier 2, the one that most of our bills are calculated on) has increased by OVER 40%!!!!!!

I genuinely believe BG are pulling a fast one here (unfortunately, albeit I'm sure entirely innocently, helped by Martin's over the top rallying call on gmtv last week). I have just rang BG and was originally told I would have to pay a cancellation fee to switch back to Click 5! Eh?? It's a tariff offered by the same company! After much hollerring I eventually got put through to a great bloke in retentions who actually knew what he was talking about and we eventually agreed I would stay with Price Protection for gas (the rise here is far more palatable and IMO definitely worth taking the immediate 'hit' on) and go back to Click 5 for Electricity..and there would be NO cancellation charge!

Don't let BG rip you off like this, people!!

Last edited by 1carminestocky : Today at 1:40 PM.

nets_2

1carminestocky wrote: »

Be VERY careful switching to ANY capped/fixed tariff, even the ones Martin was extolling the virtues of last week!! I reproduce below a post I've just made (I've made it into its own thread because I think it's important people realise what's happening).

http://forums.moneysavingexpert.com/showthread.html?t=1081489

are you saying to go with clickenergy5 then?? i was in two minds about whether to go fixed.. but click energy looking like the better option now. i have dual fuel with BG

1carminestocky

nets wrote: »

are you saying to go with clickenergy5 then?? i was in two minds about whether to go fixed.. but click energy looking like the better option now. i have dual fuel with BG

I've gone back to Click 5 for my electricity but stayed with price protection 2009 for gas (it's a much betterr deal than the electricity). It's the price protection electricity price that's the real rip-off - and very sneakily done IMO.

nets_2

1carminestocky wrote: »

I've gone back to Click 5 for my electricity but stayed with price protection 2009 for gas (it's a much betterr deal than the electricity). It's the price protection electricity price that's the real rip-off - and very sneakily done IMO.

im on phone now . only thing is with th gas its now 2011 fixed. i prob just do elec with clik 5 and gas with fixed??

1carminestocky

nets wrote: »

im on phone now . only thing is with th gas its now 2011 fixed. i prob just do elec with clik 5 and gas with fixed??

Sorry, misunderstood you, I thought you'd already capped at the old/supposedly advantageous rates. The new fixed/capped rates are not something to get excited over IMO as they are based on the after-increase prices. Best go with Click 5 for dual fuel at the moment and keep your powder dry for when ALL suppliers have increased their prices and look for the best fix/cap then. Thres' absolutely no rush at the moment but DO get on the cheapest dual fuel while you are waiting - Click 5

nets_2

1carminestocky wrote: »

Sorry, misunderstood you, I thought you'd already capped at the old/supposedly advantageous rates. The new fixed/capped rates are not something to get excited over IMO as they are based on the after-increase prices. Best go with Click 5 for dual fuel at the moment and keep your powder dry for when ALL suppliers have increased their prices and look for the best fix/cap then. Thres' absolutely no rush at the moment but DO get on the cheapest dual fuel while you are waiting - Click 5

Sory i should of been clearer!
I am still on the standard tariff for both gas and elec with BG. I am trying to get onto click5 for the two as I'm now not going to cap.
Thanks for your help!!