Neon Reef - any views?

Stuart42

I can't see how this 'exclusive' fix is worth the risk. It's 26% more than the current cap.  The current cap is predicted to rise 32% in October.  So if you don't fix, you get 5 months at 100% of what you pay now then 7 months at 132% = 118.67% vs 126% on the fixed deal over the 12 months. This assumes prices don't increase again next April.  Even if they do, according to my maths they would have to increase by more than 33.3% for you to benefit at all from the fixed deal.   

QrizB

Stuart42 said:

I can't see how this 'exclusive' fix is worth the risk. It's 26% more than the current cap.  The current cap is predicted to rise 32% in October.  So if you don't fix, you get 5 months at 100% of what you pay now then 7 months at 132% = 118.67% vs 126% on the fixed deal over the 12 months.

That doesn't take account of the higher use in winter vs. summer.

Households vary but in my case I use roughly twice as much gas and electricity in Oct-Mar as I do Apr-Sep.

For my household, May-Sep at 100% plus Oct-Apr at 132% gives a weighted average much closer to the 126% of the fix. (It's a moot point for me as I'm not with BG.)

Edit to add:

Compating the BG fixed tariff details from this post to the SVT and assuming a SVT increase of 32% in October, I get, for my household for next 12 months.:

• SVT: £1665
  
• BG fix: £1716

Of course the SVT might rise by more or less than 32%; we won't know until August.

Patr100

BUFF said:

yes, just this afternoon.  For me it is ~16% uplift from current SVT - almost tempting for the certainty plus the "No exit fees for switching to another British Gas tariff."  should a cheaper one be available.

I feel like keeping the option to move from BG sooner rather than later to somewhere with a better customer service which is the main distinguishing feature at the moment until  we start getting more fixed offers from other suppliers, assuming the cull of weaker suppliers has ended (though always a risk) 

Stuart42

That doesn't take account of the higher use in winter vs. summer.

Good point well made! 

brewerdave

Patr100 said:

BUFF said:

yes, just this afternoon.  For me it is ~16% uplift from current SVT - almost tempting for the certainty plus the "No exit fees for switching to another British Gas tariff."  should a cheaper one be available.

I feel like keeping the option to move from BG sooner rather than later to somewhere with a better customer service which is the main distinguishing feature at the moment until  we start getting more fixed offers from other suppliers, assuming the cull of weaker suppliers has ended (though always a risk) 

I would LOVE to move away from BG (AND EDF for that matter) as the customer service/information provided is appallingly bad - but where do you go as all the fixes I've looked at ,are just too pricey at the moment.

QrizB

brewerdave said:

Patr100 said:

BUFF said:

yes, just this afternoon.  For me it is ~16% uplift from current SVT - almost tempting for the certainty plus the "No exit fees for switching to another British Gas tariff."  should a cheaper one be available.

I feel like keeping the option to move from BG sooner rather than later to somewhere with a better customer service which is the main distinguishing feature at the moment until  we start getting more fixed offers from other suppliers, assuming the cull of weaker suppliers has ended (though always a risk) 

I would LOVE to move away from BG (AND EDF for that matter) as the customer service/information provided is appallingly bad - but where do you go as all the fixes I've looked at ,are just too pricey at the moment.

I think Octopus are taking customers on. If you can't get onto Flexible, Tracker is currently a decent deal (and you should be able to switch to Flexible after joining).

Try an email to them?

WBCPB

I switched from SSE(deemed tariff) to Octopus Flexible in early April via telephone, and am now on the Go tariff.

Regards

Gerry1

brewerdave said:

Patr100 said:

BUFF said:

yes, just this afternoon.  For me it is ~16% uplift from current SVT - almost tempting for the certainty plus the "No exit fees for switching to another British Gas tariff."  should a cheaper one be available.

I feel like keeping the option to move from BG sooner rather than later to somewhere with a better customer service which is the main distinguishing feature at the moment until  we start getting more fixed offers from other suppliers, assuming the cull of weaker suppliers has ended (though always a risk) 

I would LOVE to move away from BG (AND EDF for that matter) as the customer service/information provided is appallingly bad - but where do you go as all the fixes I've looked at ,are just too pricey at the moment.

Try Octopus?

BUFF

Stuart42 said:

I can't see how this 'exclusive' fix is worth the risk. It's 26% more than the current cap.  The current cap is predicted to rise 32% in October.  So if you don't fix, you get 5 months at 100% of what you pay now then 7 months at 132% = 118.67% vs 126% on the fixed deal over the 12 months. This assumes prices don't increase again next April.  Even if they do, according to my maths they would have to increase by more than 33.3% for you to benefit at all from the fixed deal.   

I don't think that it's much risk seeing as there is the option to switch free to any other, cheaper BG tariff should there be one.
However, like others I have run some nos. & whilst the offer for me (electricity only with BG) works out at ~+16% on an annual basis that's roughly the equivalent of the current SVT until October & then a 27% rise on current SVT. Like others I use more energy over winter (central heating pump & lights in the case of electricity).
& as also mentioned it does keep you more tied in with BG at the cost of a £75 exit fee.

All in, atm my thinking is to wait until later. As a low user of electricity (~1150kWh/year) I can afford the risk as we are only talking a few tens of pounds difference.  It's another massive jump (i.e. doubling) in gas that I would dread.

LtMike77

Has anyone been billed from their last NR bill up to when they went into administration/SOLR?

I was informed back in February by the administrators/NR that closing statements were being released in batches and would be notified once released and provided with a PDF copy. Still not heard anything.