British Gas Fixed Price March 2016

A.Penny.Saved

Find out your yearly usage by looking at past bills or online account. If you can check multiple years, especially any really cold winters then average them and use the average when you input the figures. Or find a best and worst case and try them both.

Don't use your monthly DD because it's not a great indicator of your usage!

DragonQ

penrhyn wrote: »

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.

Actually they'd have to rise by about 14%. For the deal to break even, you'd have to be paying 7% more for the first half then 7% for the second half (for example). If prices only rise by 7% in the next 3 years then taking a fix now that has a 7% premium will lose you money.

In any case, I'm sure prices will rise by 14+% in the next 3 years anyway, unless fracking has a big effect.

clarryd

Fixed energy until March 2016 with BG this morning was on the standard tarriff and fixed is costing me no more per month.

TIMMY85

macman wrote: »

Whatever you do, get off Standard-it's the most expensive option of all.

Standard is not the most expensive. The fixed price tariff has a premium on top of the standard...standard just means the customer has not made any choice to fix or go on a discounted tariff.

EDIT - Standard may of course work out more expensive IF prices go up by more than the premium to fix.

DragonQ

TIMMY85 wrote: »

Standard is not the most expensive. The fixed price tariff has a premium on top of the standard...standard just means the customer has not made any choice to fix or go on a discounted tariff.

EDIT - Standard may of course work out more expensive IF prices go up by more than the premium to fix.

Actually no, standard tariffs tend to be the most expensive variable tariffs because suppliers also typically offer a discounted tariff that only allows online billing and/or monthly direct debit payments.

In addition, some suppliers offer fixed tariffs that are actually cheaper than their standard tariffs, with or without exit fees. It often depends on usage though.

macman

TIMMY85 wrote: »

Standard is not the most expensive. The fixed price tariff has a premium on top of the standard...standard just means the customer has not made any choice to fix or go on a discounted tariff.

EDIT - Standard may of course work out more expensive IF prices go up by more than the premium to fix.

In this context, I think it's patently obvious that I was talking about variable tariffs.

datlex

Joyful wrote: »

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

I'm guessing as you work for BG you think they'll be putting up prices again during this time?

TIMMY85

Just realised that the OP is not on the 'Standard' tariff. He is on a variable online rate which runs out in January...(Online Variable Jan 2014??)...he refers to it as standard but it is not.

Joyful

datlex

I know no more than you but all you have to do is listen to the fact it is getting more expensive to do almost everything connected to energy to be able to surmise which way the prices will go, The suppliers can only take ownership of 15% of costs, 85% is outwith their control. Based on this I have gone ahead and fixed my prices.

Paulalfc

Thanks for all the replies/advice. I have decided to switch to EDF Blue freeze March 2017 which means I will be paying £12 a year more with the new tariff than sticking with BG and paying a lot more over the next 4 years.