British Gas- end of 5 year deal

alexani

just coming to the end of a great 5 year deal on my gas and electricty with british gas which has shielded me from the ridiculous rises expierienced by plenty over the last few years. There latest offer is- take the standard tarriff or pay 4% premium over and above the standard tarriff, and they will hold those rates for 2 years- anyone done searching recently- who's the best??

many thanks Ian

ellies_angel

we are in the same boat just received our letter from British Gas today and want to know if it would be cheaper to switch to a different provider, anyone got any suggestions??

Plushchris

ellies_angel wrote: »

we are in the same boat just received our letter from British Gas today and want to know if it would be cheaper to switch to a different provider, anyone got any suggestions??

Run a comparison by entering your Kwh usage into one of the comparison sites above to find out who is cheapest, all depends on where you live and how much you use as to who is the cheapest for you, its unlikely to be anything BG are offering you though.

kjsmith7

The Price Protection 2012 that you're being offered is Standard Rates + a 4% premium added on top (the Price Protection April 2010 had a premium when you first when onto it so there's nothing new there) - it's not the cheapest rate you can get, but a fixed price gives you certainty. It depends on whether you could manage if the prices went up FURTHER than the Standard Rates + 4%: could you handle it?

If you just want a cheap rate (or less of an increase in your current rates), then opt out of the new tariff and go for an Online tariff with any supplier (usually monthly direct debit and you view your bills online) as you'll get quick savings and your bills won't go up as much as they would going to Standard Tariff (of any supplier) or the new Price Protection 2012.

However, if there were price increases, your rate would go up on a tracker tariff, so just bear it at the back of your mind. Just keep reminding yourself how much you have saved on this tariff (a lot) and keep smiling!

Cardew

kjsmith7 wrote: »

(the Price Protection April 2010 had a premium when you first when onto it so there's nothing new there)

Actually the Price protection April 2010 didn't have a premium when it was first introduced in Nov 2005.

At that time the only tariff BG offered was their Standard Tariff. PP April 2010 was designed to be cost neutral, with gas increasing by 2.8% over the standard tariff and electricity decreasing by 4.8%. So the 'average' UK customer using 20,500kWh/3,300kWh gas/electricity broke even.

However the new fixed deal is nowhere near as attractive. On my above average consumption, BG's cheapest tariff(Websaver 7) is £165(10.7%) more expensive than OVO(which is fixed for 12 months whilst websaver 7 could increase) and the fixed to March 2012 tariff is £609(39.4%) more expensive.

For me - no contest - it must be OVO.

smidgey

Cardew wrote: »

For me - no contest - it must be OVO.

Snap! OVO have set my DD to the same as what I am paying at the moment which makes sense as I get around £250 a year refunded on the electricity but I like to continue to pay the same amount each month regardless of how much I overpay!

Even with WS7 and my staff discount OVO works out cheaper for duel fuel though my electricity works out more expensive with them than it would on WS7.

Joyful

I have to say I would only be charged an extra £29 a year if I went with Ovo so for me there's no competition. I'll stay with BG and go onto Websaver 7.

Plushchris

Cardew wrote: »

For me - no contest - it must be OVO.

Are you going to go for Ovo then Cardew?


I signed up the other day to the variable rate tariff, quite impressed so far....

Ken68

Odd that Ovo is good for low AND high users.

Cardew

Plushchris wrote: »

Are you going to go for Ovo then Cardew?


I signed up the other day to the variable rate tariff, quite impressed so far....

Yes.

The 12 months fixed deal is marginally cheaper(£13) for me; same prices for everything except daily standing charge for Electricity.

In the unlikely event(IMO) of prices dropping considerably after next month I will 'bite the bullet' and pay the exit penalty of £30 for each fuel and move.

Less certain what to do with the gas and electricity on my annex that uses tiny amounts of energy 3,000kWh gas and 150kWh electricity pa. I suppose Ebico will be best bet.

Cardew

Ken68 wrote: »

Odd that Ovo is good for low AND high users.

I can't see how they can be good for very low users as they have a largish daily standing charge.

Certainly for my annex(see post above) OVO are twice as expensive as Ebico. albeit that is not a realistic consumption figure for a fully inhabited property.