British Gas to increase electricity prices by 12.5% in Sept

redfox

It's just been announced that British Gas are to increase electricity prices by 12.5% in September.

http://www.bbc.co.uk/news/business-40787555

hubb

I am with them via Martin's collective deal until October. Does this mean I will be exempt from the increase in September?

dazzaofdagenham

I'm with the collective fix until October ......time to start looking elsewhere for a deal

System

hubb wrote: »

I am with them via Martin's collective deal until October. Does this mean I will be exempt from the increase in September?

Yes - price increases only apply to a supplier's standard variable tariff. You will remain on your present tariff terms until the end of your contract. If you do nothing at that point (that is; you fail to agree another fixed deal with BG or switch to a new supplier) then your supply will move on to BG's standard variable tariff. Remember, you can initiate a switch without penalty once BG notifies you that your contract is coming to an end ( in the period 49 to 42 days before contract end date).

worldtraveller

Well, someone's going to have to pay for the groups massive deficit in their defined benefit pension scheme's, which increased by over £1 billion last year.

Total liabilities were up 34% from £6.8 billion at the end of 2015 to £9.1 billion on 31 December 2016.

boatman

They said this is nothing to do with the price of electricity.
Just profiteering then??

bob_bank_spanker

boatman wrote: »

They said this is nothing to do with the price of electricity.
Just profiteering then??

Post #5 - people aren't dying quickly enough.

zagfles

Hengus wrote: »

Yes - price increases only apply to a supplier's standard variable tariff. You will remain on your present tariff terms until the end of your contract. If you do nothing at that point (that is; you fail to agree another fixed deal with BG or switch to a new supplier) then your supply will move on to BG's standard variable tariff. Remember, you can initiate a switch without penalty once BG notifies you that your contract is coming to an end ( in the period 49 to 42 days before contract end date).

Does that apply generally to all energy suppliers? I've got a deal which ends on 30 Sept and it says there's a penalty if I switch before 30 Sept.

bob_bank_spanker

zagfles wrote: »

Does that apply generally to all energy suppliers? I've got a deal which ends on 30 Sept and it says there's a penalty if I switch before 30 Sept.

Yes - the 42-49 day notification and penalty free switching window is statutory, and not particular to BG


https://www.ofgem.gov.uk/press-releases/tougher-rules-fixed-term-energy-deals-come-force-ofgem%E2%80%99s-retail-market-reforms-begin-bite

RobLW

Yep, a-buh-bye British Gas. 3.1 million customers will plummet once again.

:money:

ariba10

The rest of the suppliers won't be far behind!