British Gas Websaver 5 - Not Tracking 7% Reduction

mleandcustard

Hi all,

2 months ago I used MSE's advice and signed up for the British Gas Websaver 5 Product. Reading the T&Cs I understood it so be similar to a Discount Tracker Mortgage- ie what ever the Standard Gas and Elec Tariff was, I would pay 6% less.

British Gas have recently announced a 7% Price Drop on Gas, and when I read the "How Does This Affect You" section, I am surprised to find that this 7% will NOT be passed on to those of us that signed up for Websaver 5 !

Can anybody help explain where I have mis-interpreted the Websaver 5 "Tracker" aspect, and is this a mistake on my part, or clever / devious marketing on British Gas' part ?

Thanks

MS

Swipe

The reason is because even after the 7% reduction on the std tariff WS5 still remains more than 6% cheaper so no discount is passed on

KimYeovil

You have misunderstood. It is guaranteed to be at least 6% (or whatever figure it is) less than the standard price. But as it started off being more than 13% (again, or whatever the actual figure is) cheaper then the decrease in the standard tariff has no effect.

It is not devious marketing.

Cardew

I think you will find that the websavers guaranteed to be at least x% less than standard rates.

In practice they were much more than that guaranteed percentage - often 16% or so less than the standard rate.

Websaver 5 is still more than 6% less than standard.