British Gas Fixed Price March 2016

Paulalfc

Hi

I hope someone can help me?, I am currently with BG on their standard online tariff which runs out in January 2014 but i am thinking of going onto a fixed tarrif such as the one mentioned above. My question is if i fixed today would the prices be as they are today or would they be fixed after the price increase due in Nov?. Im thinking its better to get fixed now for 2 winters then to saty where i am on a standard.

Any help/thoughts would be gratefully received. Thanks

penrhyn

It should be fixed at the advertised price. The 2016 tariff only launched today. If you switch on-line on the BG site the move occurs instantly.

Joyful

It will be 5% on top of the price rise announced today. I am considering it myself.

Paulalfc

I've just rang BG who were no use at all. I just wanted to know whether i would be better switching to the fixed price March 2016. I am currently paying £38 p/m for Gas and £25 p/m for electricity. I expect to pay a bit more than that if i did change tariffs. It just all seems confusing when comparing tariffs etc. They just said that i was on the best deal currently but i asked them if that would still be the case when the prices go up or is it the fact that they don't want people to fix their prices therefore BG can get more money from you by not being on a fixed tarrif?!.

penrhyn

Why don't you check out your options on your online account.
That will show you what you are paying now and what you would have to pay should you change tarriff.

savemoney

BG web site very slow and error 404 when I do a tarrif check tried again works but site is very slow

For gas it will cost me £142.80 more a year compared with standard £95.63 on my tarrif which ends end of Nov cant believe gas will costs me £927.74 a year alone my usage according to BG for gas is gas annual 17264kWh £784.94 and I also use a log burner to supplement dont have GCH on every night in Winter and on at 20c at night

Paulalfc

After going on line again this morning to check my tarrif, iam currently paying £761.15 a year combined for gas/elec on the standard tariff but if i switch and fix to the Price fix March 2016 it would cost me £812.38 a year which would be an extra £51.23 compared to what i am paying now. I am thinking that if i was to fix my tarrif then when the prices go up each year then paying the extra £51.23 may not seem that bad as it would even itself out?. Any help/advice on what to do would be helpful. Thanks in advance.

penrhyn

Thats aound a 7 % premium.
Prices would have to rise more than 7% over the 3 years for this to be a good deal, which is highly likely.

Edit:- Don't limit your search to one supplier.

macman

Why don't you use any comp site and check out fixes other than BG? There are many cheaper fixes than BG, such as EDF and SP.
Whatever you do, get off Standard-it's the most expensive option of all.

Paulalfc

Having reasearched some more it appears that EDF energy blue + price freeze could be a tempting offer for me to switch from BG as it is only an extra £1.04p more per month than what i am currently paying now for both gas/elec. I currently pay £63 per month with BG so would pay £64.04p with EDF and i get to fix the tariff until 2017. Either this seems to be good to be true or i have misunderstood the costs?. Any help/advice would be good whether to switch to this or not?.

The estimated annual cost would be £769 with EDF as compared with £761.15 now with BG (not inc price increases due in Nov for BG)

macman

It's the annual cost that matters, not what your monthly DD is set up.
But if you are currently paying so much on variable that you can fix 4 years ahead for just £12 a year extra then of course you should switch, since BG prices will go up in a month.
Or use the shorter term EDF Blue Price Promise 2015 fix and your annual cost will go down.