Confused by debit and credits for British Gas

Stu6781

With British Gas, I’m on the temp tariff sept 2019 for electricity and the home energy secure August 2019 for gas. I’m £530 in credit for electric and £237 in debit for gas. What does this actually mean? I’m looking to switch to another provider but am obviously concerned about that the implications would be with these debits and credits when I switch?

Cheers, Tony.

Any insight would be greatly appreciated

dogshome

From my understanding, BG's 'Temporary Tariff' that you are on for Elec is their name for a Standard Variable Contract, ( expensive !) - If this is the case you can Switch the Elec immediately penalty free, and get your £530 credit back


As for the Gas it's not unusual to be in debt at this time of year, but as the year progresses you will use less and less heating and the debt will diminish or disappear by the time the contract ends in August

Stu6781

Thanks for this dogshome. I believe it’s a fixed price though and has an exit fee of £40.

If I say indefinitely wanted to switch provider today, would BG refund me the difference between the gas and elec (so say £300 odd) and id then pay the £40 exit fee and then move on smoothly to another provider? Or is it not that simple? Thanks

Joyful

If you are in debit for the gas the switch for this would be blocked. As you have a high credit balance for the electric, make sure you are billed up to date with an actual reading. If there is credit left, you can then request it be applied to the gas account. Take into account the early redemption charge when checking out comparisons.