Should I go with the fixed rate British Gas are offering me

Roselea

I have been given a fixed rate offer by British Gas to April 23 but am so confused I have no idea if I should accept this at the present time 

Cardew

Welcome to the forum.

There are very few fixed rate tariffs that a 'good buy' at present and the prevailing wisdom is to stay on the Standard Variable Tariff(SVT) however the big unknown by anyone is what will happen on 01 October when the SVT changes.

Before anyone can give you advice you need to tell us what BG are offering. Tell us the kWh price for gas and electricity, the Daily Standing Charge(DSC) and length of the fixed contract. Do not tell us how much per month you will be paying.

BUFF

Cardew said:

Before anyone can give you advice you need to tell us what BG are offering. Tell us the kWh price for gas and electricity, the Daily Standing Charge(DSC) and length of the fixed contract. 

Also, if you know them your annual usage & usage pattern. There was somebody posting yesterday whose electricity use (they had a heat pump) probably merited taking the jump whereas in my case it doesn't seem to.

akaWooders

Excuse me butting in in the absence of Roselea's reply.

If the fixed rate tariff referred to is the Loyalty April 2023 v1, I was informed today that this tariff was closed yesterday (6 April). The pricing for this tariff (in Southend, Essex) was:

Gas - 9.552p per kWh

Standing charge - 34.069ppd

Electricity - 32.516p per kWh

Standing charge - 43.398ppd

I only found out about this tariff yesterday when I enquired about replacing my current fixed tariff expiring at the end of this month. I had been considering this tariff as the annual cost would have been 20.49% higher than the SVR quote from BGas, based on Gas of 11704kwh and Electricity of 2901kwh.

Sadly the tariff that replaced the April 2023 is the Loyalty May 2023 v1 with pricing,

Gas - 10.553p per kWh

Standing charge - 34.069ppd

Electricity - 34.93p per kWh

Standing charge - 44.767ppd

This tariff is 30% higher than the SVR, so too high for my consideration at the present time.

I was advised that these fixed price tariffs are not available for long so I will keep an eye on the wholesale prices and the current offer on BG's website, hopefully, for something cheaper in the summer.

suzipp

I am so confused...

British Gas has offer me a fixed rate..

Unit rate 34.869 per Kwh...
10.991p per Kwh

Standing charge 51.600p per day
35.439p per day

Fixed energy until April 2023

Along with..
 Standard variable....

Gas 
Standing Charge 27.220p per day.

Unit Rate 7.282 per Kwh

Electric

Standing Charge 44.750 per day

Unit Rate... 27.627 per Kwh


What is the Forum opinion please..... would you  go fixed or standard? 

TheMilkmansDad

similar answer to this thread from earlier today

https://forums.moneysavingexpert.com/discussion/6354018/fixed-rate-tariff-or-default-tariff#latest