Neon Reef to British Gas?!

SheenaLouise

I've just been moved from a fixed rate with Neon Reef - approx 17p usage rate / 20p standing charge to a variable rate with British Gas - approx 21.5p usage rate / 25.5p standing charge.  Surely this isn't the cheapest rate for Ofgem to move me to?? 😠

emmajones1976

Depends on the payment method. Putting it on a monthly DD may reduce it a little.

EssexHebridean

I think the migrated NR accounts are on the same price whether they pay by DD or on receipt of the bill, from what was said on here yesterday? 

OP - that is pretty much there or thereabouts around the price cap rates, so I don't think you'll find anything much better! 

DiseasedBunny

SheenaLouise said:

I've just been moved from a fixed rate with Neon Reef - approx 17p usage rate / 20p standing charge to a variable rate with British Gas - approx 21.5p usage rate / 25.5p standing charge.  Surely this isn't the cheapest rate for Ofgem to move me to?? 😠

Yes it is…if you think it’s bad now wait until April 🙈

bagand96

emmajones1976 said:

Depends on the payment method. Putting it on a monthly DD may reduce it a little.

Not the case for British Gas SoLR contracts where DD and cash/cheque/pay on receipt are at the same rates.

To the OP, it is a tariff at the Ofgem Price Cap - there's nothing cheaper out there at the moment!

dbks

SheenaLouise said:

I've just been moved from a fixed rate with Neon Reef - approx 17p usage rate / 20p standing charge to a variable rate with British Gas - approx 21.5p usage rate / 25.5p standing charge.  Surely this isn't the cheapest rate for Ofgem to move me to?? 😠

A very interesting question.

It will depend upon your supply region.

It also may call into question the accuracy of that website a MSE poster created and  advertised on here.

What I suggest is that you consult a comparison site.
As they don't tend to list many tariffs currently (as not many are available), I suggest you start with putting BG standard variable as your current tariff.

Looking at a couple of regions, it seems BG Welcome to British Gas tariff (as shown on the BG website) is the same price for electricity as BG standard variable paid for by DD.

If you want to make further checks, then choose other suppliers and their standard variable tariff (whatever they may call them)
There may be a small variation as Ofgem does not actually set the standing charge and unit rates, but rather the cost for an average user, (it does effectively set a cap for the sc) so the supplier has some flexibility to lower the SC and increase the unit price.

Note, not many suppliers (non?) allow you to switch to their standard variable tariff (default tariff rate) at this time. Anything that is offered will be significantly more expensive.

Btw, don't forget the tariff BG have that so many MSEers have said they have transferred to, or had confirmation when switching supplier that they will be placed on it and backdated, once the switch completes. Unit rates are no more than BG's SVT, and it has the added bonus of zero standing charge (so will save you at least £93 per year), and the price is fixed until Oct 2022, with no early exit fees.

Which tariff am I on about?

BG Zero Fixed Oct 2022

(only available via chat I understand)

jbuchanangb

The reason Neon Reef and all the others went belly up is that the prices they were charging were ridiculously low. No surprise for likes of you and me (ex Symbio 12.3p per unit, 10p per day S/C to EON.Next 20.14p per unit, 24.4p per day S/C) that our new tariff with the SoLR will be a huge jump. As previously mentioned, we can expect another big increase in April.

dbks

jbuchanangb said:

The reason Neon Reef and all the others went belly up is that the prices they were charging were ridiculously low. No surprise for likes of you and me (ex Symbio 12.3p per unit, 10p per day S/C to EON.Next 20.14p per unit, 24.4p per day S/C) that our new tariff with the SoLR will be a huge jump. As previously mentioned, we can expect another big increase in April.

The question by the OP was not about the rate you probably fixed with a supplier months ago (and so they should have hedged), but rather following the failure of a supplier whether the rate offered by BG to ex-NR customers is the cheapest Ofgem could have found?

BG is putting ex-NF customers on an exclusive* tariff called Welcome To British Gas
Afaik, it is priced the same as the BG default tariff for those paying by direct debit, but the Welcome to British Gas tariff charge that same lower price even for those who pay on receipt of bill. 

According to Martin, suppliers default tariffs are the cheapest currently around; there is nothing meaningfully cheaper
- although Martin either has not heard of

BG Zero Fixed Oct 2022

- or maybe because it was only available by chat according to MSE users who say they were promised it, (despite BG website saying it may not be available)

- or maybe the fact that none of the countless MSE posters who have claimed to have been promised this tariff have actually said they have been put on it yet, depite first reports by MSEers about this tariff were being made about August/Sept 2021.

Surely all those different MSE posters can't all be being denied tariff they were promised by British Gas can they ? Mind you, this is British Gas, I suppose.

Shedman

Oooh so cynical (but probably right).  Doesn't mean I'm not going to try it having been SOLRd to them anyway.  What's to lose?

Coys

Have British Gas set up a DD for anyone SOLR'd from Neon Reef?

I had an email some time ago saying they would transfer the existing DD, but just had my first bill and my account still says payment is by cash/cheque.

BUFF

I have a DD set up (at least I think that I have - no bill yet but it shows on my BG account) but I did it - it was not transferred from Neon Reef.