Martin Lewis: ‘Do nothing’ with your energy supply and go onto the price cap when your deal ends - t

Former_MSE_Sophie

Do nothing with your energy supply and roll onto the price cap when your deal ends rather than trying to switch. 

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Martin Lewis: ‘Do nothing’ with your energy supply and go onto the price cap when your deal ends

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dbks

Why would you not simply switch to British Gas if your existing tariff is coming to an end and take advantage of their super cheap, no standing charge, 12m fixed tariff? (no early exit fees either)

So many MSE forumites have done just that, they claim.

Much cheaper than any default tariff and  no risk of it increasing until October 2022

You won't find it on any comparison site, nor on BG's own website by simply requesting a quote. But lots of forumites have accessed it simply by using the BG chat facility, or phoning BG.

Ask for it by name:
British Gas Zero Fixed Oct 22

Don't be disheatened if at first you don't succeed, try try, try again. It is possible say MSE forumites, even for brand new customers!
https://forums.moneysavingexpert.com/discussion/6303163/electricity-only

MWT

It is only cheaper for electricity, not gas, and it may get withdrawn at any moment so it is not without risk if you cannot switch directly to it...

QrizB

dbks said:

Why would you not simply switch to British Gas, and take advantage of their super cheap, no standing charge, 12m fixed tariff? (no early exit fees either)

Because to switch to BG you need to sign up to one of their fixed deals, all of which are significantly more expensive than the current Ofgem cap, with no guarantee that you'll be allowed to switch to that particular discontinued tariff? And if they don't let you switch, you're then stuck paying the higher fix?

For example, in my region BG want £2118 for 12000kWh of gas and 2900kWh of electricity, which on a price-capped variable tariff would be £1261 - that's £851 more.

dbks

MWT said:

It is only cheaper for electricity, not gas, and it may get withdrawn at any moment so it is not without risk if you cannot switch directly to it...

I think it will still be on the same list, in 6 months time. No sweat.


Gas is charged at about 6.8p/kWh or less and no standing charge, which is less than most tariffs available today ignoring their standing charge (except a supplier's default tariff, that will sky rocket especially for gas in 6 months time)

dbks

QrizB said:

dbks said:

Why would you not simply switch to British Gas, and take advantage of their super cheap, no standing charge, 12m fixed tariff? (no early exit fees either)

Because to switch to BG you need to sign up to one of their fixed deals, ..

Not true.
@Gerry1 will explain to you how to do it as a new customer. You know @Gerry1 don't you?

Gerry1

MWT said:

It is only cheaper for electricity, not gas, and it may get withdrawn at any moment so it is not without risk if you cannot switch directly to it...

If you can get it, in my region it can also be very attractive for gas: if your gas consumption is less than 77% of the average value it's even cheaper than the cap.  Also, no standing charge and no exit fees.

MWT

Gerry1 said:

If you can get it, in my region it can also be very attractive for gas: if your gas consumption is less than 77% of the average value it's even cheaper than the cap.  Also, no standing charge and no exit fees.

That is a fair point, it will certainly suit lower gas users better due to the no standing charge.

I do remain convinced that if the trickle of people finding out about the tariff becomes a flood it is likely to get shut down or prices adjusted upwards, so one to move to sooner rather than later if it is appealing...

WillPS

dbks said:

Why would you not simply switch to British Gas if your existing tariff is coming to an end and take advantage of their super cheap, no standing charge, 12m fixed tariff? (no early exit fees either)

So many MSE forumites have done just that, they claim.

Much cheaper than any default tariff and  no risk of it increasing until October 2022

You won't find it on any comparison site, nor on BG's own website by simply requesting a quote. But lots of forumites have accessed it simply by using the BG chat facility, or phoning BG.

Ask for it by name:
British Gas Zero Fixed Oct 22

Don't be disheatened if at first you don't succeed, try try, try again. It is possible say MSE forumites, even for brand new customers!
https://forums.moneysavingexpert.com/discussion/6303163/electricity-only

I'll try my luck with this tomorrow and see where I get to.

Blackjack_Davy

MSE_Sophie said:

Do nothing with your energy supply and roll onto the price cap when your deal ends rather than trying to switch. 

Does that include ex-Igloo customers who have been forced onto Eon?

TiVo_Lad

As a victim of Symbio Energy's demise, I will apparently be switched to EON Next (if they can be bothered to contact me) at a per Kwh rate that is 85% more expensive (the standing charge has increased by 1.1%) than I previouly paid. Yet, there is a market fix available that is "only" 58% more expensive (and a standing charge that is 27% cheaper). Why would I wait a nanosecond and not switch to a cheaper tarrif? Yes, the new supplier might go bust next month, but the same price cap will still be in place, whilst in the mean time I'm saving money.

What's more dangerous is the Price "Cap" becomes an effective Price "Floor". If there's a big rout of smaller suppliers, where's the incentive for any of them to reduce prices rather than keep the prices high and shore up their balance sheets. Higher energy prices are here to stay.