Switch or wait?

actually_a_llama

I recently took to the price comparison sites and was a little surprised to see how much energy costs have gone up - although it makes sense given we're in a pandemic.

My current tariff with British Gas ends in 36 days.

According to Which?, the current cheapest tariff from a company that offers Warm Home Discount is 'Avro' on 'Simple and Saver12M' (assuming this tariff will be offered if I call up) and it's going to be a little more expensive. Meanwhile online they only offer Simple Simple and Flow12M for 40GBP/year more. I haven't yet called to see if I'm able to get the Simple and Saver tariff.

I'm guessing quotes may go up or down between now and the end of my British Gas tariff so I was wondering if anyone could shed some light on whether I should switch now or wait? Because I'm currently getting my energy a smidge cheaper right now;

Electricity
British Gas existing rate: 16.136p/kWh
Avro new rate: 16.958p/kWh

British Gas standing charge: 15.932 p/day
Avro standing charge: 16.958p/day

Gas
British Gas existing rate: 2.535p/kWh
Avro new rate: 2.935p/kWh

British Gas standing charge: 14.043p/day
Avro standing charge: 17.850p/day

[Deleted User]

The MSE and Guardian forecast is another c.£110 hike to the Ofgem price cap in October. Read into that what you will.

MalMonroe

I'd wait. It seems like swings and roundabouts with those figures. I've stopped switching in an effort to get the best prices because no matter who I've switched to, I end up paying £100 per month. That is what my family and I use and so that's what I'm resigned to paying. In the past I spent hours trying to get the very best deals and what I've discovered is that there are no 'very best deals' to be had. I've been with Octopus for about a year now and I may just as well stick with them unless some REALLY fantastic deals pop up somewhere (doubtful).

The figures you've quoted are so similar you may as well just stay with BG. 

That is what I'd do anyway. 

TheMilkmansDad

MalMonroe said:

The figures you've quoted are so similar you may as well just stay with BG. 

but the BG deal expires shortly at which point i assume they go to the standard tariff. Personally I'd Switch

actually_a_llama

MalMonroe said:

I'd wait. It seems like swings and roundabouts with those figures. I've stopped switching in an effort to get the best prices because no matter who I've switched to, I end up paying £100 per month. That is what my family and I use and so that's what I'm resigned to paying. In the past I spent hours trying to get the very best deals and what I've discovered is that there are no 'very best deals' to be had. I've been with Octopus for about a year now and I may just as well stick with them unless some REALLY fantastic deals pop up somewhere (doubtful).

The figures you've quoted are so similar you may as well just stay with BG. 

That is what I'd do anyway. 

I should probably mention after 36 days I'll get switched to a standard variable which is much more expensive than those BG rates I currently get. I tried getting a quote from BG but their quotes are misleading - the tariffs are higher but it's not really reflected well in the total cost for some reason. Not sure why, I might need to look again.

I wish I could stay on my current tariff but I'm guessing if a switch takes 21 days I'd be cutting it close to wait for a better deal in the next fortnight?

JJ_Egan

Better deals all gone around march 2020 .

[Deleted User]

actually_a_llama said: 

I wish I could stay on my current tariff but I'm guessing if a switch takes 21 days I'd be cutting it close to wait for a better deal in the next fortnight?

If you initiate a response on the last day of your present contract (and even later in certain circumstances) you will remain on your present tariff until the actual transfer goes through. This is called price protection and it is a Supply Licence Condition.

The only way prices are going is up.

niktheguru

Just switch now, what’re your waiting for. Prices aren’t coming down and it will take at least 14 days to switch. How much money do you think you’ll save staying with BG for an extra 20 days, answer….it’ll be pennies. 

actually_a_llama

I've fired off an email to Avro asking about this Simple and Saver plan. I get the impression that their customer service is pretty poor right now and just the barebones. I've read mixed things but they do seem to be the cheapest option.

If I don't get a response from them then the next best that does Warm Home Discount is SSE SWALEC Online Energy v14 but I'm not terribly far off a standard variable by that point. But with the warnings for this October price hike it's better than nothing.