MSE News: British Gas to hike prices by up to 18%

backfoot

https://forums.moneysavingexpert.com/discussion/comment/45107804#Comment_45107804

This thread says BG purchased their electricity at a 27% lower rate than Scottish Power.

Yet they are putting the electricity price up by 20% which is twice as much as SP did.

They are taking the p.

savemoney

I remember the other day someone posted a link to a web site which claims BG pay a lot less for there fuel that SP it even had other utilities companies

allan2006

i only just signed up for websaver 12 a week ago now this huge increase, im tied in now so cant more tariff or supplier.

they just launched a new fixed price tariff to by looks of it, but thats even more.

there not much choice as no doubt all the energy companies will follow this with their own increases

Plushchris

RobStaffs wrote: »

Good day for BG to get bad news out.;)

Exactly what I was thinking...

interbear

I'm tied in to websaver 11 until May 2012. Still, reckon if I switch now, not only will I pay an exit fee but the other providers will likely follow suit with price increases anyway.
So it's not worth it. Whatever Ofgen say, this industry clearly behaves like a cartel intent on squeeznig every penny of profit from consumers.

And with price rises of this size surely impacting inflation, how much longer can the BoE hold interest rates at current levels. It's going to get worse before it get's better in my opinion. A cheery thought for the day, sorry ;-)

mjmal51

interbear wrote: »

I'm tied in to websaver 11 until May 2012. Still, reckon if I switch now, not only will I pay an exit fee but the other providers will likely follow suit with price increases anyway.
So it's not worth it. Whatever Ofgen say, this industry clearly behaves like a cartel intent on squeeznig every penny of profit from consumers.

And with price rises of this size surely impacting inflation, how much longer can the BoE hold interest rates at current levels. It's going to get worse before it get's better in my opinion. A cheery thought for the day, sorry ;-)

My contract is until Oct with websaver 8. This means gas up 22% and elec 20%. Then this will rise again in Oct. Decided
today to change to capped and concerned about exit fee.
However terms and conditions say
"7 Changes to this contract

7.1 We can change the terms of this contract (including price and payment methods) at any time (unless we have agreed otherwise with you) and we will make these available online at https://www.britishgas.co.uk. We will let you know in writing if we make a change. If you are not happy with the change, you can end this contract as set out in clause 8.1b"

7.2 If we raise your prices or make a change to this contract that puts you at a significant disadvantage, we will let you know in writing within 65 working days of the change. The price rise or change will not affect you as long as you:

1. tell us that you want to end this contract within 20 working days of the day you receive notice from us of the price rise or change; and
2. arrange for another supplier to supply your gas and electricity and we receive notice of this from your new supplier within 15 working days of the day you gave us notice that you wanted to end your contract."

So have quoted this and sent message to BG and assume no exit fee

backfoot

mjmal51 wrote: »

My contract is until Oct with websaver 8. This means gas up 22% and elec 20%. Then this will rise again in Oct. Decided
today to change to capped and concerned about exit fee.
However terms and conditions say
"7 Changes to this contract

7.1 We can change the terms of this contract (including price and payment methods) at any time (unless we have agreed otherwise with you) and we will make these available online at www.britishgas.co.uk. We will let you know in writing if we make a change. If you are not happy with the change, you can end this contract as set out in clause 8.1b"

7.2 If we raise your prices or make a change to this contract that puts you at a significant disadvantage, we will let you know in writing within 65 working days of the change. The price rise or change will not affect you as long as you:

1. tell us that you want to end this contract within 20 working days of the day you receive notice from us of the price rise or change; and
2. arrange for another supplier to supply your gas and electricity and we receive notice of this from your new supplier within 15 working days of the day you gave us notice that you wanted to end your contract."

So have quoted this and sent message to BG and assume no exit fee

Wouldn't bank on it. Sadly.

apt

The contract is for a variable rate at least 6% cheaper than BG's standard rate. Only if BG breaks these terms - which the latest increases don't - can you avoid any exit fee that applies.

elektra

gazjoneswales wrote: »

Though the price rises are annoying considering the pressure on my wallet at the moment anyway. At Least BG have handled this better than SP with a break down of how each tariff is affected shown on there website and the average increases at least fairly accurate, at least in my case

all of the tariffs except Essentials which they just show average increases.

Don't know why they don't show prices for this tariff on their website or comparison sites(last time I looked).

mjmal51

apt wrote: »

The contract is for a variable rate at least 6% cheaper than BG's standard rate. Only if BG breaks these terms - which the latest increases don't - can you avoid any exit fee that applies.

Oh well, never mind. As I face a 22% rise in Aug and another in the region of 10% when the contact ends in Oct I will take the hit and carry on with my switch to fixed with EDF.