Capped tariff ends in April - when to switch?

madmum33

I was lucky and got the BG Price Protection 2010 about 5 years ago, I'm sure it has saved me a small fortune over the years. It's due to run out in April and I'm starting to look at switching, but the switching sites warn me that I'll pay a penalty if I switch too soon.

My question is, when should I seriously start looking at switching? None of the current deals seem to be better than what I'm paying now, but I don't want to be caught out by the standard BG tariff when this deal runs out!

Ruth

Cardew

madmum33 wrote: »

I was lucky and got the BG Price Protection 2010 about 5 years ago, I'm sure it has saved me a small fortune over the years. It's due to run out in April and I'm starting to look at switching, but the switching sites warn me that I'll pay a penalty if I switch too soon.

My question is, when should I seriously start looking at switching? None of the current deals seem to be better than what I'm paying now, but I don't want to be caught out by the standard BG tariff when this deal runs out!

Ruth

There are over a million BG customers on this tariff - including myself and doubtless thousands of BG emploees.

You are correct it is by far the cheapest tariff in UK. It started Nov 2005

Don't forget if we switch 1 day before 30 April 2010 we still pay a small penalty for leaving.

All we can do is wait to see what BG come up with closer to the time, and then decide to switch companies or not.

The best tariff will depend on your consumption and area.

madmum33

Thanks Cardew, so I'm best sitting tight for now, which is what I was beginning to think. The worry is that the rates will be much higher on 1st May and it takes a while to switch, I really can't afford to pay standard tariffs for long!

I'm surprised it was only 4 years ago - it feels longer!

Ruth

Just_landed

To give you an idea I have been on BG’s price guarantee Dec 2009 which obviously has just finished. Over the last three weeks leading up to its end I contacted BG three times on what I had to do to switch over to (in this case their websaver 5) Each time I telephoned them I was given different information on what to do. Do not do sign up to anything yet as the other posters say. About two weeks before the end of the contract I received an Email from BG asking me do I want to extend the price guarantee Dec 2009 until bla bla, if so do nothing and it will be done automatically but if I wanted to go onto another tariff, I had to fill a form in to move back to their standard tariff which I did. Then on 1st Jan this morning I had to sign up to their websaver 5 which again, I have done. This way there should be no cancellation charges I hope. I did ask why I couldn’t just swop over to websaver 5 from price guarantee Dec 2009, It’s not the way it’s done was the answer.:)

Pincher

As a matter of interest, what is the fixed price you have been paying for nearly five years? Assuming Dual Fuel Direct Debit, so please include the discounts as well.

I must have ignored it because it was higher than basic tariff at the time. I'm hoping there was a sufficient period when my floating tariff was lower, so the total difference is not too bad.

If I decide to put my head in the oven for missing it, I promise I'll post here first so you can feel even more smug about it.

madmum33

Thank you Just Landed, they don't like to make things easy for us, do they?

Pincher, I went to my online account to check my bills so I could tell you, strangely the calculation isn't shown on the bills so I have no idea how much I have been paying per unit!

I looked back at older bills and found the price per unit:

Electricity - 11.340p/unit (first 225 per quarter) and 6.816p/unit

Gas - 2.888p/unit (first 1,143 per quarter) and 2.012p/unit

£10 discount per year (I think), prices are excluding VAT.

Don't put your head in the oven, gas is expensive!

Ruth

Pincher

Thank you,

I'm guessing it's about £1,500 difference,
over five years.

What luck, my oven is electric, so it won't be that easy to do it. I shall just freeze to death, since it is too much to heat the house now.

One false move, and I pay the ultimate price. Goodbye, expensive world.

madmum33

:eek:

It was actually only 4 years, not quite so bad! At the time I sceptical, prices couldn't possibly rise that much, but signed up with the door-to-door salesman just to get rid of him (thinking I'd cancel once I got the paperwork). I ended up sticking with it because I was sick of Powergen messing me about! I'm glad I did now!

Ruth

Cardew

madmum33 wrote: »

Pincher, I went to my online account to check my bills so I could tell you, strangely the calculation isn't shown on the bills so I have no idea how much I have been paying per unit!


Ruth

I think there must be a glitch in the system on the latest on-line bills.

I have 4 accounts, 2 gas and 2 electricity.(I have an annex)

3 of the accounts show the breakdown and price per kWh, however one doesn't for some reason.

Anyway the price for gas(all regions) is 3.032p for first 1143kWh a quarter then 2.113p/kwh - both include VAT

Electricity varies across UK but mine in the Midlands is 11.907p first 225kWh per quarter then 7.1579/kWk again including VAT

Duel fuel and paperless billing discounts off this. £15 and £5

As a matter of interest, what is the fixed price you have been paying for nearly five years? Assuming Dual Fuel Direct Debit, so please include the discounts as well.

I must have ignored it because it was higher than basic tariff at the time. I'm hoping there was a sufficient period when my floating tariff was lower, so the total difference is not too bad.

If I decide to put my head in the oven for missing it, I promise I'll post here first so you can feel even more smug about it.

When it came out Nov 2005 they took the standard tariff and reduced electricity prices by 4.8% and increased gas prices by 2.8%. The net result for the average customer was nil change - on my consumption I gained a little over the standard tariff.

Actually a few months after introduction of that tariff prices increased a lot, and even Click 1 when it was introduced mid 2006 was a lot more.

4$£&*(£$&*(!

From my experience recently, I found the ideal time to switch is exactly 14 days before your deal ends (16 April for you). You then have 14 days 'cooling off' in which to change your mind, whilst your new supplier prepares to switch you, but they cannot technically press their 'finish' button until the 14 days are up.

I doubt very much come 1 May your deal will switch, but if you face a penalty it's s0d's law the deal would switch early if you try to be clever.

Top tip - the comparison websites can be rubbish for cashback at the moment. Use a cashback website instead after you have found the deal you want, a friend of mine switched to EDF and got around £100.

sleepless_saver

Just_landed wrote: »

To give you an idea I have been on BG’s price guarantee Dec 2009 which obviously has just finished. Over the last three weeks leading up to its end I contacted BG three times on what I had to do to switch over to (in this case their websaver 5) Each time I telephoned them I was given different information on what to do. Do not do sign up to anything yet as the other posters say. About two weeks before the end of the contract I received an Email from BG asking me do I want to extend the price guarantee Dec 2009 until bla bla, if so do nothing and it will be done automatically but if I wanted to go onto another tariff, I had to fill a form in to move back to their standard tariff which I did. Then on 1st Jan this morning I had to sign up to their websaver 5 which again, I have done. This way there should be no cancellation charges I hope. I did ask why I couldn’t just swop over to websaver 5 from price guarantee Dec 2009, It’s not the way it’s done was the answer.:)

I got the same email. Phoned BG on 31 Dec and said I wanted it rolled over on 1 Jan to websaver 5 rather than to guarantee 2011. Told I should do this online (not clear how from website), but they offered to do it manually and confirmed on phone that this had been done. Checked today to find that gas is on guarantee 2011, while electric is on websaver 5!
Phoned again and got this sorted - and was informed that there should be no cancellation fee (should hope not:mad: but I will await my next bill with interest:rolleyes:.)