We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
British Gas - SVR or Fixed - please help!
Comments
-
As in I was paying about 80 dd and they want 130. However presumably I will be overpaying as my gas usage is 1/3 of what they term normal?0
-
peatarty said:I've looked up my 2020 usage amounts - 4028 kwh electricity 4586 kwh gas. Do we use a lot less gas than is predicted? Maybe that's why they seem to want me to up my DD so much!They should be working on your actual consumption if you are an existing customer, and hopefully those numbers are based on actual meter readings not estimates..?Based on those though, and assuming you were in the Eastern Region for example (small differences between regions) your toal annual bill would be around £1304.5, so a DD of around £109.Also keep in mind that the £10 figure is against the SVR, not your previous tariff, so your DD was always going to go up, just with your fix it will go up by around £10 more than it would on the SVR.
0 -
biscan25 said:[Deleted User] said:The price of gas and electricity has risen because of an extraordinary increase in the cost of wholesale gas. Gas is also used to generate electricity.
To answer your other question, only you can decide. My crystal ball is very cloudy when it comes to future prices. What is certain is that the Ofgem Cap will increase substantially in April 2022 so you might be spending £100 more over the next 6 months to save in the longer term.
Edit: to put some meat on the above. The wholesale price of gas on 1st October 2020 was 1.132p/kWh. Yesterday it was 5.462p/kWh and today it is 6.198p/kWh. (Source: Octopus Tracker data).0 -
peatarty said:As in I was paying about 80 dd and they want 130. However presumably I will be overpaying as my gas usage is 1/3 of what they term normal?
0 -
MWT - I've had to go into my statements to find the actual amounts. We have a smart meter so they should be accurate for 2020.
However looking at their prediction it seems to be based on average usage - so the "illustrative electricity cost" for example is based on 2900kwh. rather than my actual usage. It says that its reviewed in Dec.
So maybe my "new" rate isn't vastly more expensive they've just overestimated my usage?
I'm in the south/south west.
I'm really appreciating your time to help me on this, thankyou.
I was thinking if they weren't offering anyone the SVR anymore it might be because it was better and I should have reverted back to it.0 -
It looks like we use more electricity than predicted for our house size (not sure how) and a lot less gas?0
-
peatarty said:I was thinking if they weren't offering anyone the SVR anymore it might be because it was better and I should have reverted back to it.The SVR will be cheaper, just not a whole lot cheaper in your case as you got your fix before the rates went up recently.The problem is that the SVR is only fixed for 6 months, and based on you being in the South West region for pricing, you'd be saving around £5 a month by being on the SVR vs the fixed tariff you have.The SVR doesn't work so ewell for you as your gas usage is low so the maximum capped standing charge is less favourable to you than it would be for a higher gas user.0
-
Have you thought about changing from DD to quarterly? The DD is a nightmare with BG, they increased mine to ridiculous figures then claimed it's computer generated and can't be manually overruled, figures had nothing to do with actual usage, I was always in credit which they wouldn't pay back until end of year! I've also received the letter saying my fixed rate is at an end but will definitely not move to the DD option. My do nothing option is estimated around £80 more than the DD option but I'd rather pay a real bill than overpay throughout the year.0
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 351.3K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.7K Spending & Discounts
- 244.2K Work, Benefits & Business
- 599.4K Mortgages, Homes & Bills
- 177.1K Life & Family
- 257.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards