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

Carrera74

Dan:_4 said:

Good evening,

Tonight I fixed my energy for 1 year with OVO and already starting to think I’ve made a mistake.  Do the below figures fit in with the general advice to fix now?

Current:
 Electric: 28.08 and Standing: 39.67
 Gas: 6.97 and Standing: 25.92

1 Year Fix:
 Electric: 35.65 and Standing: 48.17
 Gas: 9.75 and Standing 27.52

Thanks!

Dan

 

I note that your standing charge has gone up too.  I've gone with the EDF fix but my SC has stayed the same so although a huge exit fee if I want to move on before the 2 years is up I don't have a double whammy of increases for both usage and the SC.  Have you calculated what the difference is to fix between the variable and the new rate? If you're having a wobble about your decision that may help you especially if it's only a year fix and likely not to use as much fuel in the summer unless you have a hottub lol - although with this deal you'll still be paying an additional SC regardless.  Excel / a calculator is your friend and once you can see your personalised estimated figures (not what Evo calculate) you can be more assured you've picked the right deal, or cancel

My projection by EDF is spot on with my usage and whilst I am tied in for 2 years I believe that the rate whilst predicted to stabilise or reduce in April 2023 will still be more than what the variable is now. And I hate unpredictability so went for it.  I also think the £400 credit from the government can offset the exit fees should I want to leave early.

si_74

Carrera74 said:

Dan:_4 said:

Good evening,

Tonight I fixed my energy for 1 year with OVO and already starting to think I’ve made a mistake.  Do the below figures fit in with the general advice to fix now?

Current:
 Electric: 28.08 and Standing: 39.67
 Gas: 6.97 and Standing: 25.92

1 Year Fix:
 Electric: 35.65 and Standing: 48.17
 Gas: 9.75 and Standing 27.52

Thanks!

Dan

 

I note that your standing charge has gone up too.  I've gone with the EDF fix but my SC has stayed the same so although a huge exit fee if I want to move on before the 2 years is up I don't have a double whammy of increases for both usage and the SC.  Have you calculated what the difference is to fix between the variable and the new rate? If you're having a wobble about your decision that may help you especially if it's only a year fix and likely not to use as much fuel in the summer unless you have a hottub lol - although with this deal you'll still be paying an additional SC regardless.  Excel / a calculator is your friend and once you can see your personalised estimated figures (not what Evo calculate) you can be more assured you've picked the right deal, or cancel

My projection by EDF is spot on with my usage and whilst I am tied in for 2 years I believe that the rate whilst predicted to stabilise or reduce in April 2023 will still be more than what the variable is now. And I hate unpredictability so went for it.  I also think the £400 credit from the government can offset the exit fees should I want to leave early.

It is definitely a gamble to go on the two year fixed as I have also done. I think the final decision on whether to go for it or not is about the maths of it all, but also about the type of person you are. I find it reassuring to have certainty on my bills, even if it is going to cost me a bit more at the outset. I personally feel quite confident that it's a good decision for the first 12 months and after that I'll see what happens. Therefore it's a gamble with a maximum stake of £300 (the early exit fee). Given the current odds then that's a gamble I'm willing to take.

sarak33

Carrera74 said:

Dan:_4 said:

Good evening,

Tonight I fixed my energy for 1 year with OVO and already starting to think I’ve made a mistake.  Do the below figures fit in with the general advice to fix now?

Current:
 Electric: 28.08 and Standing: 39.67
 Gas: 6.97 and Standing: 25.92

1 Year Fix:
 Electric: 35.65 and Standing: 48.17
 Gas: 9.75 and Standing 27.52

Thanks!

Dan

 

I note that your standing charge has gone up too.  I've gone with the EDF fix but my SC has stayed the same so although a huge exit fee if I want to move on before the 2 years is up I don't have a double whammy of increases for both usage and the SC.  Have you calculated what the difference is to fix between the variable and the new rate? If you're having a wobble about your decision that may help you especially if it's only a year fix and likely not to use as much fuel in the summer unless you have a hottub lol - although with this deal you'll still be paying an additional SC regardless.  Excel / a calculator is your friend and once you can see your personalised estimated figures (not what Evo calculate) you can be more assured you've picked the right deal, or cancel

My projection by EDF is spot on with my usage and whilst I am tied in for 2 years I believe that the rate whilst predicted to stabilise or reduce in April 2023 will still be more than what the variable is now. And I hate unpredictability so went for it.  I also think the £400 credit from the government can offset the exit fees should I want to leave early.

How do you work it out? I’ve gone on percentage difference between the total current direct debit amount £1332 and what the new would be £1524?

stuarta99

sarak33 said:

Carrera74 said:

Dan:_4 said:

Good evening,

Tonight I fixed my energy for 1 year with OVO and already starting to think I’ve made a mistake.  Do the below figures fit in with the general advice to fix now?

Current:
 Electric: 28.08 and Standing: 39.67
 Gas: 6.97 and Standing: 25.92

1 Year Fix:
 Electric: 35.65 and Standing: 48.17
 Gas: 9.75 and Standing 27.52

Thanks!

Dan

 

I note that your standing charge has gone up too.  I've gone with the EDF fix but my SC has stayed the same so although a huge exit fee if I want to move on before the 2 years is up I don't have a double whammy of increases for both usage and the SC.  Have you calculated what the difference is to fix between the variable and the new rate? If you're having a wobble about your decision that may help you especially if it's only a year fix and likely not to use as much fuel in the summer unless you have a hottub lol - although with this deal you'll still be paying an additional SC regardless.  Excel / a calculator is your friend and once you can see your personalised estimated figures (not what Evo calculate) you can be more assured you've picked the right deal, or cancel

My projection by EDF is spot on with my usage and whilst I am tied in for 2 years I believe that the rate whilst predicted to stabilise or reduce in April 2023 will still be more than what the variable is now. And I hate unpredictability so went for it.  I also think the £400 credit from the government can offset the exit fees should I want to leave early.

How do you work it out? I’ve gone on percentage difference between the total current direct debit amount £1332 and what the new would be £1524?

that's what I did and kept adding the predicted percentage increase on

Carrera74

sarak33 said:

Carrera74 said:

Dan:_4 said:

Good evening,

Tonight I fixed my energy for 1 year with OVO and already starting to think I’ve made a mistake.  Do the below figures fit in with the general advice to fix now?

Current:
 Electric: 28.08 and Standing: 39.67
 Gas: 6.97 and Standing: 25.92

1 Year Fix:
 Electric: 35.65 and Standing: 48.17
 Gas: 9.75 and Standing 27.52

Thanks!

Dan

 

I note that your standing charge has gone up too.  I've gone with the EDF fix but my SC has stayed the same so although a huge exit fee if I want to move on before the 2 years is up I don't have a double whammy of increases for both usage and the SC.  Have you calculated what the difference is to fix between the variable and the new rate? If you're having a wobble about your decision that may help you especially if it's only a year fix and likely not to use as much fuel in the summer unless you have a hottub lol - although with this deal you'll still be paying an additional SC regardless.  Excel / a calculator is your friend and once you can see your personalised estimated figures (not what Evo calculate) you can be more assured you've picked the right deal, or cancel

My projection by EDF is spot on with my usage and whilst I am tied in for 2 years I believe that the rate whilst predicted to stabilise or reduce in April 2023 will still be more than what the variable is now. And I hate unpredictability so went for it.  I also think the £400 credit from the government can offset the exit fees should I want to leave early.

How do you work it out? I’ve gone on percentage difference between the total current direct debit amount £1332 and what the new would be £1524?

You need to go off your actual annual usage - not what they forecast / estimate you use.

Then it's the percentage between your actual usage on variable v the fixed rate to see if a good deal for your circumstances.

Proactivity

smeeko said:

Is anyone else having a problem with BG not following through on switching your tariff once instructed?
After reading the forum for guidance I switched on 16th May, email acknowledgement came immediately. Then nothing! 
Went on a BG site and app a few times and it told me I was in process of switching, but still nothing and still showing me I was on People's Energy tariff.
Went back on last week, site allowed me to select again, email came in acknowledging, but a week later still nothing happening.
Trying to get in contact with them is a joke, even the bot line doesn't want to know!
Any one else similarly affected, or managed to force BG to do something?

Same here - transferred to BG from PE, and recently accepted the 1yr fix.

I wondered the same thing as I updated my budget for the next few months. If you look at the email titled "Thanks for choosing to stay with us" it says:

What happens next

Don’t worry if you don’t see your new tariff in your online account right away – the switch will happen at the end of June 2022 and may take a while for your account information to update.

josiannar

I hope I have made right decision by fixing with SSE 1 Yr Fixed v27. New charges Gas -UR -9.82, SC-27.53.                    Electricity - UR-35.8, SC-54.1. We were on Variable rate before and our new direct debit has gone up by £30 a month by fixing and it's given peace of mind with expected increases from October. 

wayman

Hi - I have been offered the below from British Gas - is this tariff worth taking (currently on the energy cap tariff) - Thanks

Exclusive Jul 23v2

Gas:  Standing charge: 30.645p per day Unit rate: 10.642p per kWh   Electricity:  Standing charge: 49.559p per day Unit rate: 37.266p per kWh

idcool

wayman said:

Hi - I have been offered the below from British Gas - is this tariff worth taking (currently on the energy cap tariff) - Thanks

Exclusive Jul 23v2

Gas:  Standing charge: 30.645p per day Unit rate: 10.642p per kWh   Electricity:  Standing charge: 49.559p per day Unit rate: 37.266p per kWh

I am thinking of taking this up too. According to moneysavingexpert webpage on comparing fixed tarrifs ( sorry can't post links), it's worth it as it's less than the 40% predicted increase on the price cap as far as I understand. 

Davedipster

So BG sent me this...

Percentage increase would be
3600-2719=881
881/2719=0.32
0.32*100=32% increase
Looks like a deal if Martins guide is fix <35%
Also it says if prices go up you can change tariff for free on the Exclusive Jul 23v2

Any comments, have I got this correct?
Dipster

Standard Variable £2719.07* Your estimated annual cost is based on your 10433kWh gas usage and 5866kWh electricity usage per year Based on paying by Direct Debit# Gas: £865.50 Standing charge: 27.220p per day Unit rate: 7.344p per kWh   Electricity: £1853.57 Standing charge: 37.918p per day Unit rate: 29.240p per kWh

Fixing your prices Exclusive Jul 23v2 £3600.86* Your estimated annual cost is based on your 10433kWh gas usage and 5866kWh electricity usage per year Based on paying by Direct Debit# Fixed price energy until 31st July 2023** Exit fees of £75.00 per fuel if you switch to another supplier. No exit fees for switching to another British Gas tariff. Gas: £1207.97 Standing charge: 30.645p per day Unit rate: 10.507p per kWh   Electricity: £2392.89 Standing charge: 44.083p per day Unit rate: 38.050p per kWh