OFGEM CAP Vs BGas Fix Tariff

Beilbs

I might be an old cynic but not 2 days after the news item about the OFGEM Price Cap BGas writes to me offering yet another fix - my current one does not end until March 2019 - so they are a bit ahead of themselves?
I was still thinking about their letter when today the Daily Mail reports several suppliers now only offering the cheapest tariffs to those with Smart Meters. I do not need one of these since I deal with BGas online every month and only pay for what I use. Now left wondering am I really being offered the best tariff?

matelodave

If it costs more (check the tariff and standing charge) then you are better off staying on your present fix as you've now got 4 months worth of higher winter consumption.

JJ_Egan

The cap is not going to work the way a lot of people seem to think it will .
As said you need to do the sums also how long the new contract is for .

dilby00

I was going to ask about this, so thanks! I need to renew my plan this week; if I’m going to start fresh and have winter bills to come would I be best off fixing or not?

matelodave

Are you fixed at the moment - no one knows what tariff you are on on what tariff you've been offered. BG is not likely to be the cheapest tariff anyway, so put your annual consumption (in kwh) into a comparison site to see what deals are avaiable to you.

Anthorn

dilby00 wrote: »

I was going to ask about this, so thanks! I need to renew my plan this week; if I’m going to start fresh and have winter bills to come would I be best off fixing or not?

It's not really as simple as that:

As MSE points out the remaining 4 cheaper tariffs depending on your region are variable. Certainly for my region Bulb vari-fair which is variable is one of the cheapest but is on a par with Bristol energy issue 17 paperless billing fixed to November 2019 which is a fixed tariff but with no early exit fees.

As stated earlier in this thread simply compare and choose the cheapest. As my current fixed tariff is coming to an end on December 31st 2018 my own strategy is to go with fixed without early exit fees because as far as I can see no-one has even the foggiest idea what is likely to happen with energy prices over the next year. So therefore I'm not locking myself into a tariff at this time.

JimboGSD

I am like you, my fixed price runs out 31st December 2018, and I was also wondering what to do. If I renew a fixed price for a 12 month contract at today's rate, would I be worse off than waiting to renew in January 2019. ?