What rates are you being offered by your provider at the moment?

The_Green_Hornet

Doc_N said:

Fromdownwest said:

luckwudaveit said:

Doc_N said:

For those who've recently fixed and still within the 14 day cooling off period, keep a close eye on this in the next week in case you need to cancel quickly:

.........BBC News has been told that a menu of options has been worked up in Whitehall to help struggling households, including a freeze on energy bills.

Industry sources are increasingly optimistic that the new prime minister will back plans to freeze the energy cap, the maximum price for domestic gas and electricity set every three months by regulator Ofgem.

This would not necessarily require upfront government financing at the beginning, BBC News economics editor Faisal Islam reported.

It follows multiple meetings with government, including ministers close to Foreign Secretary Liz Truss.

Ms Truss, tipped by pollsters to win the contest, has promised to announce further help to shield consumers within a week of taking over..........

https://www.bbc.co.uk/news/uk-politics-62788604

The noises currently coming out, really worry me. I took a fix during the summer to guard against October's price increase and it now looks like it could be the wrong move. I just can't seem to ever make the right decision. 

It is / was a really tough choice, and one that we should not have to have made. I decided against my recent fix, as I felt uneasy over the prospect of cementing in a DOUBLING of my rates, on the assumption, things will go up in the future.

Hopefully, they may offer some lower rate tarrifs that you could switch to, IF, this announcement is correct.

There's no way of knowing for a few days until she's announced the full details of any package.  It's possible it will apply only to the first x number of kWh,  but frankly anything's possible because it's all speculation. 

No problem for current or recent switches because of the 14 day cooling off period.  Just keep options open and watch the news.

Just a pity the Conservative Party has left us without a government for several weeks at such a critical period. 

I think a lot of people are going to end up being disappointed once all the media speculation has ended and Ms Truss and her team publish their cunning plan to solve the UK energy crisis.

Even before hearing it Labour has said it isn't enough, and economic think tanks claim it is unaffordable, so I expect that this pantomime is going to to last a lot longer than Christmas.

Z1mmy

luckwudaveit said:

Doc_N said:

For those who've recently fixed and still within the 14 day cooling off period, keep a close eye on this in the next week in case you need to cancel quickly:

.........BBC News has been told that a menu of options has been worked up in Whitehall to help struggling households, including a freeze on energy bills.

Industry sources are increasingly optimistic that the new prime minister will back plans to freeze the energy cap, the maximum price for domestic gas and electricity set every three months

The noises currently coming out, really worry me. I took a fix during the summer to guard against October's price increase and it now looks like it could be the wrong move. I just can't seem to ever make the right decision. 

Worst case is that you have to pay the exit fees to go back to the cap

Doc_N

The_Green_Hornet said:

Doc_N said:

Fromdownwest said:

luckwudaveit said:

Doc_N said:

For those who've recently fixed and still within the 14 day cooling off period, keep a close eye on this in the next week in case you need to cancel quickly:

.........BBC News has been told that a menu of options has been worked up in Whitehall to help struggling households, including a freeze on energy bills.

Industry sources are increasingly optimistic that the new prime minister will back plans to freeze the energy cap, the maximum price for domestic gas and electricity set every three months by regulator Ofgem.

This would not necessarily require upfront government financing at the beginning, BBC News economics editor Faisal Islam reported.

It follows multiple meetings with government, including ministers close to Foreign Secretary Liz Truss.

Ms Truss, tipped by pollsters to win the contest, has promised to announce further help to shield consumers within a week of taking over..........

https://www.bbc.co.uk/news/uk-politics-62788604

The noises currently coming out, really worry me. I took a fix during the summer to guard against October's price increase and it now looks like it could be the wrong move. I just can't seem to ever make the right decision. 

It is / was a really tough choice, and one that we should not have to have made. I decided against my recent fix, as I felt uneasy over the prospect of cementing in a DOUBLING of my rates, on the assumption, things will go up in the future.

Hopefully, they may offer some lower rate tarrifs that you could switch to, IF, this announcement is correct.

There's no way of knowing for a few days until she's announced the full details of any package.  It's possible it will apply only to the first x number of kWh,  but frankly anything's possible because it's all speculation. 

No problem for current or recent switches because of the 14 day cooling off period.  Just keep options open and watch the news.

Just a pity the Conservative Party has left us without a government for several weeks at such a critical period. 

I think a lot of people are going to end up being disappointed once all the media speculation has ended and Ms Truss and her team publish their cunning plan to solve the UK energy crisis.

Even before hearing it Labour has said it isn't enough, and economic think tanks claim it is unaffordable, so I expect that this pantomime is going to to last a lot longer than Christmas.

Truss has said she’ll announce her energy package within a week. Not long to wait. I suspect I might be cancelling the fix I did last week with BG.

Striving_to_Succeed

Hi All,

Apologies in advance for the long post.

I am currently with British Gas on a standard variable tariff and 'accidentally' switched to their Fixed October 23v3 rate (I was trying to press the terms and conditions on my phone but the 'switch' tab is close to it that I only realised I selected it when it said "thanks for staying with us..."!).  When using site's switch checker it suggested that the fixed rate is something that I should "seriously consider switching to" anyway but I have a niggling doubt in the back of my mind that I should switch back to the variable tariff and hope for the best.  Rates below:

Current SVT based on 4081kWh gas and 3418 kWh electric (I feel like this in itself may be wrong as I use more electric than gas)
Gas
SC: 27.220 per day
Unit Rate: 7.517 per kWh per day
Electric
SC: 32.141 per day
Unit Rate: 29.633 kWh

£1536.22 per year

Fixed
Gas
SC: 24.480 per day
Unit Rate: 15.955 per kWh per day
Electric
SC: 19.812 per day
Unit Rate: 56.433 kWh

£2741.98 per year

I used the Energy bill predictor spreadsheet that is on this forum and that says that the fix is cheaper but I am also very cynical of the government and their intentions and think we may see some changes over the coming weeks.  I only have another 4 days left of the cooling off period.

Any thoughts?  

dazzapb

Striving_to_Succeed said:

Hi All,

Apologies in advance for the long post.

I am currently with British Gas on a standard variable tariff and 'accidentally' switched to their Fixed October 23v3 rate (I was trying to press the terms and conditions on my phone but the 'switch' tab is close to it that I only realised I selected it when it said "thanks for staying with us..."!).  When using site's switch checker it suggested that the fixed rate is something that I should "seriously consider switching to" anyway but I have a niggling doubt in the back of my mind that I should switch back to the variable tariff and hope for the best.  Rates below:

Current SVT based on 4081kWh gas and 3418 kWh electric (I feel like this in itself may be wrong as I use more electric than gas)
Gas
SC: 27.220 per day
Unit Rate: 7.517 per kWh per day
Electric
SC: 32.141 per day
Unit Rate: 29.633 kWh

£1536.22 per year

Fixed
Gas
SC: 24.480 per day
Unit Rate: 15.955 per kWh per day
Electric
SC: 19.812 per day
Unit Rate: 56.433 kWh

£2741.98 per year

I used the Energy bill predictor spreadsheet that is on this forum and that says that the fix is cheaper but I am also very cynical of the government and their intentions and think we may see some changes over the coming weeks.  I only have another 4 days left of the cooling off period.

Any thoughts?  

Hi. What’s the exit fee? If it’s zero like my fix from BG (from may) you can switch to SVT when the time comes when we get more information 

bristolleedsfan

As regards staying with British Gas 14 day cooling off period appears to be irrelevant

https://emailbritishgas.co.uk/TROLandingPage.html

dazzapb

Guess we need to wait and see I wouldn’t be cancelling any fixes at the moment. Rumour is that the April cap could be carried to January but who knows. If they go for the huge long term assistance plan, who’s to say energy prices will fall in 2 years time to the inflation adjusted 20 year average of 1k per annum. 

Striving_to_Succeed

dazzapb said:

Striving_to_Succeed said:

Hi All,

Apologies in advance for the long post.

I am currently with British Gas on a standard variable tariff and 'accidentally' switched to their Fixed October 23v3 rate (I was trying to press the terms and conditions on my phone but the 'switch' tab is close to it that I only realised I selected it when it said "thanks for staying with us..."!).  When using site's switch checker it suggested that the fixed rate is something that I should "seriously consider switching to" anyway but I have a niggling doubt in the back of my mind that I should switch back to the variable tariff and hope for the best.  Rates below:

Current SVT based on 4081kWh gas and 3418 kWh electric (I feel like this in itself may be wrong as I use more electric than gas)
Gas
SC: 27.220 per day
Unit Rate: 7.517 per kWh per day
Electric
SC: 32.141 per day
Unit Rate: 29.633 kWh

£1536.22 per year

Fixed
Gas
SC: 24.480 per day
Unit Rate: 15.955 per kWh per day
Electric
SC: 19.812 per day
Unit Rate: 56.433 kWh

£2741.98 per year

I used the Energy bill predictor spreadsheet that is on this forum and that says that the fix is cheaper but I am also very cynical of the government and their intentions and think we may see some changes over the coming weeks.  I only have another 4 days left of the cooling off period.

Any thoughts?  

Hi. What’s the exit fee? If it’s zero like my fix from BG (from may) you can switch to SVT when the time comes when we get more information 

£100 each for Gas and Electric. It’s good to see no exit fees if staying with them but it locks me in if I am lucky enough to find something cheaper elsewhere. As you’ve said, we’ll have to wait and see

PK_London

I've recently fixed my energy but I think I'm going to want to kick myself if the government caps prices lower than my fix now

Eebus13

I am once again furious, I have went ahead and researched energy companies and tariffs, organised my house to the best energy efficiency and agreed a fixed rate for 3 years which was what was told to the entire country only for the news to report that the government are going to freeze bills for 18 months. I took a fixed price which was a 135% increase on my old prices which would have worked out a lot lower than the end cap which was forecast by the government. I now believe that by being pro active I will be in  a worse position than most of the country. Once again the people with the foresight to do the work and get somethign in place are being left behind and from what I see in the newws I will be paying more than most people in the UK who didnt bother to do anything!