British Gas - 138% annual increase?? Do I have any options?

freckled24

My duel fuel British Gas tariff ends in May and was £472 a year (3 room flat, just me using the energy and I'm very mindful/use it sparingly). The cheapest fixed 12 month deal they're offering is £1126 a year, an increase of 138%. If I choose standard variable it's £908 - but with more rises forecast, could the 12 month fix work out better? I pay by DD and I'm currently in £180 credit. I saw recently Martin said don't fix if it's over 75% of what your current fix is'. I'm going to call British Gas tomorrow and challenge the monthly DD hike (72% per month increase, 138% annual increase), given I'm in credit etc, but I don't hold out any hope of a reduction. Does anyone have any constructive advice for me, or should I just accept the 138% fixed increase annual cost?

Brie

is it simply the DDs that they are saying need to go up by 138%?  I know the rates are rising as well but is it the same amount?? 

Def challenge it and walk away if you can find better.  Don't forget that most suppliers are asking you to always be 2 months in credit no matter what.  You might do better if you can get a rate that includes you simply paying what you use.

freckled24

Thanks Brie - the annual total is up by 138%, the monthly DD payments themselves are up by 72%. I've looked at a few other suppliers, but they say to stay with your current supplier, as it's the cheapest option. So confused about what to do - but i'll definitely challenge it as if i'm in £180 credit, I'm not going to be using what they're 'estimating' i'll use in 2022/23 - I don't want to just accept it if there are definitely other options out there (with companies who'll be around this time next year)

The_Fat_Controller

Forget the DD amounts UNLESS they very accurately reflect you actual annual usage in kWh multiplied by the unit rates plus standing charges, divided by 12.

Get your annual usage figures from your latest bills, it will show as an estimate but should be pretty accurate if you have been in your home for a while.

Do your own calculation for the offered fix and the SV tariffs.

When I come off my fix with EDF in July, I will be looking at an increase of 127% when moving to the SV rate, the fix on offer is ridiculously more expensive.

freckled24

I went onto my BG account, to get the annual usage from their very helpful graphs, as i've always done - but they're no longer there, the whole page has disappeared. Looks like i'll have to go through 12 months of bills to try and work it out i guess. I'm happy to not fix, but with another rise in October forecast (24% ?), isn't a fix a better option than a cheaper deal for only a few months?

akaWooders

When Ebico folded I was moved to British Gas. With Ebico I paid by DD each qtr for the gas and electricity used and B Gas were happy for me to continue on that basis. You could try asking if you could also pay on this basis as you'd use up your existing credit balance and only pay for the energy you've used in the future.

My current fixed rate tariff expires at the end of April and I'm wondering what to do too. What is the name of the fixed rate tariff you are considering?

Good luck.

pochase

freckled24 said:

I went onto my BG account, to get the annual usage from their very helpful graphs, as i've always done - but they're no longer there, the whole page has disappeared. Looks like i'll have to go through 12 months of bills to try and work it out i guess. I'm happy to not fix, but with another rise in October forecast (24% ?), isn't a fix a better option than a cheaper deal for only a few months?

You only need the latest bill and the 12 months old bill. Take the opening meter reading and the closing reading and calculate the difference.

freckled24

British Gas are offering me their cheapest apparently - the 'Exclusive Fixed Energy V15'  - though i've just worked out the kWh i've used, from the first reading in my current tariff, to the one on 31 March. 360kWh of gas, and 1006 kWh of electricity - not the 4,032 of gas they're estimating i'll use in 22/23, but their electricity's quite spot on (estimate 1,053 kWh in 22/23). Maybe fixing isn't right for me, as my gas usage is way lower than they're estimating, and we're coming into summer so i'll not use much? I should just go standard, and be paying for what i actually use

QrizB

freckled24 said:

I went onto my BG account, to get the annual usage from their very helpful graphs, as i've always done - but they're no longer there, the whole page has disappeared. Looks like i'll have to go through 12 months of bills to try and work it out i guess.

No need to plough through all your bills, your latest bill will include your Estimated Annual Consumption (EAC) value.

QrizB

freckled24 said:

British Gas are offering me their cheapest apparently - the 'Exclusive Fixed Energy V15'  - though i've just worked out the kWh i've used, from the first reading in my current tariff, to the one on 31 March. 360kWh of gas, and 1006 kWh of electricity - not the 4,032 of gas they're estimating i'll use in 22/23, but their electricity's quite spot on (estimate 1,053 kWh in 22/23). Maybe fixing isn't right for me, as my gas usage is way lower than they're estimating, and we're coming into summer so i'll not use much? I should just go standard, and be paying for what i actually use

Your 360 for gas, is that the change in meter reading? For a metric meter (measuring cubic metres), each unit (cubic metre) is a little over 11kWh so 4032kWh is about right.

4032kWh of gas and 1006kWh of electricity on the April cap is around £850/yr.

freckled24

Thanks QrizB - just looked and their estimates are waaaaaay off - i've used so much less than they've estimated (even though i always give actual readings, rather than let them estimate). Maybe i can use the huge differences of usage in my favour when i call tomorrow - they surely need to base their estimates on my actual consumption, that they can see from the last 12 months....