Quick help, am i missing something????

TrevUK

Hi all,

Sorry, need to ask what is probably a very simple question but i need some advice as I’ve not done this before.

I'm currently on the British Gas November Fix and Fall tariff 2013, I've seen all the news about BG increasing the prices and it's got me very worried, especially with a baby on the way I’m trying to be as careful as possible with the pennies. I currently pay £45 for Gas per month and £49 per month on Electric via monthly DD. On account is in debt and the other in credit, overall I’m in credit.

I've signed up to the Cheap Energy Club and tells me that my combined tariff charges for leaving would be £40.

I don't know what i should be doing, don’t really know many knowledgeable people and the other half hasn't a clue either. Just don't want to be massively stung here, there seem to be some options out there that would save me money...

Scottish Power - Online Fixed Price Energy March 2015 - Save £127 p/a

EDF - Blue +Price Promise March 2015 - Save £119 p/a

The flip side would be that i pay extra now and get fixed until 2017 at an extra £36 per year with EDF or an extra £29 through Scottish Power.

Really pretty confused!!! Any help or advice would be hugely appreciated.

Thanks.

macman

If you are on a current BG fix, then today's BG price rise announcement won't apply. Simply factor in the cost of allowing for the ETC on BG. So if you can save more than £40pa by switching, then it's worth doing.
Use your annual kWh figures on the comp sites, not your monthly DD amounts-they do not give accurate results.
You usage pattern (if represented accurately by your DD) is unusual. In a property with gas CH and DHW, your electricity bill should be about half your gas bill. (i.e gas is about two thirds of the total cost). Post your annual kWh usage for proper advice.
Buying a long term fix may or may not be cheaper. No one knows. it's simply an insurance policy.

TrevUK

macman wrote: »

If you are on a current BG fix, then today's BG price rise announcement won't apply. Simply factor in the cost of allowing for the ETC on BG. So if you can save more than £40pa by switching, then it's worth doing.
Use your annual kWh figures on the comp sites, not your monthly DD amounts-they do not give accurate results.
You usage pattern (if represented accurately by your DD) is unusual. In a property with gas CH and DHW, your electricity bill should be about half your gas bill. (i.e gas is about two thirds of the total cost). Post your annual kWh usage for proper advice.
Buying a long term fix may or may not be cheaper. No one knows. it's simply an insurance policy.

Thanks for the reply. Does this help at all???

I've got the quarterly breakdown.

Gas:-
Oct-Dec 12 - 4099.19
Jan-Mar 13 - 4777.37
Apr-Jun 13 - 1597.62
Jul - Sep 13 - 22.10

Electricity:-
Oct-Dec 12 - 854.68
Jan-Mar 13 - 1105.54
Apr-Jun 13 - 656.12
Jul - Sep 13 - 670.40
Oct-Oct 13 - 94.38

macman

So total the quarterly readings up and you will have your annual kWh consumption on each fuel...
But your gas is very low and your leccy about average, hence the gas DD not being higher than leccy, which is normally the pattern in a property with gas CH and DHW.
Do another comp site search with your totals. It's up to you if you want a longer term fix, but at a higher price, but either way it'a no brainer compared to what you are on now, even with the ETC, because you can still fix shorter term with a saving.

TrevUK

macman wrote: »

So total the quarterly readings up and you will have your annual kWh consumption on each fuel...
But your gas is very low and your leccy about average, hence the gas DD not being higher than leccy, which is normally the pattern in a property with gas CH and DHW.
Do another comp site search with your totals. It's up to you if you want a longer term fix, but at a higher price, but either way it'a no brainer compared to what you are on now, even with the ETC, because you can still fix shorter term with a saving.

Thank you. So definitely worth me changing supplier come the end of November as i won't get charged then. It's just whether or not i do it earlier which i think is probably the way to go.

macman

Depends if you think that those two EDF/SP short fixes will still be around in another month. If they aren't, their replacements may cost you a lot more than the £40 ETC you'd pay to dump BG now.

TrevUK

I haven't a clue. At a guess i think all of the energy companies will have changed prices by then, as the rest of the big 6 will follow suit soon after BG taking the plunge.

Just a toss up as to whether to hold out in 'hope' they don't follow suit for a month or two, or take a small hit now.

DragonQ

Price rises from the "big 6" are usually spread over a few months so it may be worth it to hold out. I'm hoping nPower don't raise prices for another month!

TrevUK

DragonQ wrote: »

Price rises from the "big 6" are usually spread over a few months so it may be worth it to hold out. I'm hoping nPower don't raise prices for another month!

With the news DragonQ, what are you going to do?

I've been looking on energyhelpline and First Utility come out with savings on my usage of around £200. The reviews/ratings on them are poor.

TrevUK

(Edit - Changed the title of the original thread too)

After messing about i'm finally about to take the plunge in switching and taking a small hit. However i've just done 2 comparision sites, Cheap Energy Club and EnergyHelpline and i'm really confused.

I put in the same details on both. Cheap Energy says on the NPower price protector fixed until 2017 it would actually cost me another £77 per year. However the Energyhelpline website says it would save me £17 (and get £30 cashback).

Can anybody explain what i'm doing wrong if at all before i make a fool of myself and switch to the wrong tariff!!!

Quentin

Energyhelpline take into account your current tariff is ending and factor in an increase on your current spend as you will inevitably pay more in the next 12 months for the same consumption were you to remain with your current (ending) deal.

(Lots more than £30 cashback on that tariff currently at topcashback!)