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

Bubble1971

Filed said:

Hope this helps some people:

As a British Gas customer on the standard rate, I was offered the Exclusive Jul 23v2 fixed deal via e-mail. I rang up and was offered the Loyalty Jun23v2 fixed deal. This was a better rate and not available on the app or site to me. So it's worth ringing up to see what's available for your account.

The rundown for me (per year as this is a annual fixed rate - though you can leave with no penalty if you stick with BG):
4 bed, 2 adults, 2 toddlers.

• 14,200kWh Gas per year
• 3,300kWh Elec per year

Standard tariff - Baseline
Exclusive Jul23v2 - 33.77% higher price than Standard Tariff
Loyalty Jun23v2 - 29.30% higher price than Standard Tariff

For me, the Loyalty Jun23v2 brought the cost increase well below the 35% suggested by ML, so jumped on it today.

IMPORTANT NOTE TO CONSIDER: THE Loyalty Jun23v2 & Exclusive Jul23v2 OFFERS END ON 15TH JUNE (Source - Asked them to check when the offers end when on the phone).

As these fixed tariffs offer you to leave for a better fixed tariff for no exit fees (with BG though!), I believe it's worth tying in now if you wish to fix.

Cheers,
James

Thank you, James, I had just received an email offering me the exclusive Jul 23v2 so I checked on Money Saving Expert and saw your post. I rang British Gas straightaway, they offered me the loyalty tariff and I signed up. The recorded message said they were extremely busy however I got through after one ring! Again, thank you so much. 😊 

Exotoxin1

QrizB said:

Shell have not offered any choice of tariff for several months now. It seems to be a business decision of theirs.

Shell have opened a 2-Year fix to July 2024 at a typical 39% over their current Flexible 7 capped variable rate.

blobbi

Fixed on the BG Jun v2 tariff which works out at 22% over my current variable rate tariff.
As stated previously it was made very unclear by BG (probably on purpose) what my actual usage was and so I set up a spreadsheet to work out the new standing charge payments and my predicted usage for gas and electricity.

Rates they offered are here:

scramblecam

Hi 

I have been offered a fixed rate deal for electricity only that is 20% higher than what I am currently paying (price cap).  I am unsure if the predicted 40% increase for dual fuel applies equally to single fuels (electricity) or whether it is possible that gas could go up a lot and electricity only a small amount.

 I am not sure if the recommendation that you should consider fixing if you are offered a deal less than 35% more than current prices applies to both dual and single fuels. 

pochase

Going from the 01/06/22 Cornwall-Insight predictions gas would go up 60% and electricity 45%.

But that can change and will change forward a backward for the next weeks. But it at least gives an idea between the fuels, like in April gas seems to increase more than electricity again.

Mancunian_Nick

All this discussion on whether to go cap or fixed is a nightmare - I'm getting dual fuel (gas and electric) from Eon - currently on their Fix 18 month exclusive v3, which is £353.87 a year and doesn't finish until 26th July this year (17.9p per Kw hour electricity and 3.26p gas). I'm being told by Eon Next, who I was moved to without being asked, I should select my next tariff now and it won't take effect until my existing deal ends, so that's good. However my options are either their recommended cheapest NextFlex, variable tarrif, no contract plus a discount for paying by direct debit, although they don't say how much - yearly cost £655.15 electricity standing charge 42.24p and gas 27.22p - unit rates 28.02 electric and 7.34 for gas. Alternatively I could go for Martin's suggestion of their NextOnline V14 which is fixed for 12 months, no exit fee and paid by direct debit at £66.75 per month, £801 annual. Quite a big jump and costlier than than their recommended option - Next Online V14's standing charges are the same as NextFlex's but the unit rates are 38.37p per Kw hour electric and 9.84p per Kw hour for gas. 

So the question I'm trying to answer as a single 68 year old (69 in November) who lives in a bedsit that usually gets *very* cold in winter, is what do or should I do? Accept this variable currently cheaper plan or take the NextOnline one with a view to pay more now but protect, if indeed it does (?) from the October and hence other cap rises? I obviously want to make a decision sooner rather than later for fear it might not be there much longer so can someone with more knowledge and understanding of all this please advise? I'd be very grateful indeed!!

Thank you kindly - Nick

Mstty

@Mancunian_Nick tough decisions for all when it comes to fix or not.

Firstly I am surprised a bedsit has gas and elec connected to each room and metered not bills paid through the rent but that aside at least with an electricity bill in your name you will get £400 from October which will nearly be all the difference on your energy bill. Hopefully you will also get more claiming a pension.

So best thing to do is get the calculator out on you annual usage, actual usage and decide what's best for you.

stephenjames16

Bubble1971 said:

Filed said:

Hope this helps some people:

As a British Gas customer on the standard rate, I was offered the Exclusive Jul 23v2 fixed deal via e-mail. I rang up and was offered the Loyalty Jun23v2 fixed deal. This was a better rate and not available on the app or site to me. So it's worth ringing up to see what's available for your account.

The rundown for me (per year as this is a annual fixed rate - though you can leave with no penalty if you stick with BG):
4 bed, 2 adults, 2 toddlers.

• 14,200kWh Gas per year
• 3,300kWh Elec per year

Standard tariff - Baseline
Exclusive Jul23v2 - 33.77% higher price than Standard Tariff
Loyalty Jun23v2 - 29.30% higher price than Standard Tariff

For me, the Loyalty Jun23v2 brought the cost increase well below the 35% suggested by ML, so jumped on it today.

IMPORTANT NOTE TO CONSIDER: THE Loyalty Jun23v2 & Exclusive Jul23v2 OFFERS END ON 15TH JUNE (Source - Asked them to check when the offers end when on the phone).

As these fixed tariffs offer you to leave for a better fixed tariff for no exit fees (with BG though!), I believe it's worth tying in now if you wish to fix.

Cheers,
James

Thank you, James, I had just received an email offering me the exclusive Jul 23v2 so I checked on Money Saving Expert and saw your post. I rang British Gas straightaway, they offered me the loyalty tariff and I signed up. The recorded message said they were extremely busy however I got through after one ring! Again, thank you so much. 😊 

What number did you call? I've spoken to 2 different people and they've told me to look online!

brewerdave

stephenjames16 said:

Bubble1971 said:

Filed said:

Hope this helps some people:

As a British Gas customer on the standard rate, I was offered the Exclusive Jul 23v2 fixed deal via e-mail. I rang up and was offered the Loyalty Jun23v2 fixed deal. This was a better rate and not available on the app or site to me. So it's worth ringing up to see what's available for your account.

The rundown for me (per year as this is a annual fixed rate - though you can leave with no penalty if you stick with BG):
4 bed, 2 adults, 2 toddlers.

• 14,200kWh Gas per year
• 3,300kWh Elec per year

Standard tariff - Baseline
Exclusive Jul23v2 - 33.77% higher price than Standard Tariff
Loyalty Jun23v2 - 29.30% higher price than Standard Tariff

For me, the Loyalty Jun23v2 brought the cost increase well below the 35% suggested by ML, so jumped on it today.

IMPORTANT NOTE TO CONSIDER: THE Loyalty Jun23v2 & Exclusive Jul23v2 OFFERS END ON 15TH JUNE (Source - Asked them to check when the offers end when on the phone).

As these fixed tariffs offer you to leave for a better fixed tariff for no exit fees (with BG though!), I believe it's worth tying in now if you wish to fix.

Cheers,
James

Thank you, James, I had just received an email offering me the exclusive Jul 23v2 so I checked on Money Saving Expert and saw your post. I rang British Gas straightaway, they offered me the loyalty tariff and I signed up. The recorded message said they were extremely busy however I got through after one ring! Again, thank you so much. 😊 

What number did you call? I've spoken to 2 different people and they've told me to look online!

I've had the same experience this morning ! Told me to go for a quote online EVEN AFTER I told him that the website wouldn't give me a quote!!

EDIT Just tried again but BG appear to have closed the line for switching in /joining due to the high number of priority customers trying to contact them !!!

BUFF

Mancunian_Nick said:

All this discussion on whether to go cap or fixed is a nightmare - I'm getting dual fuel (gas and electric) from Eon - currently on their Fix 18 month exclusive v3, which is £353.87 a year and doesn't finish until 26th July this year (17.9p per Kw hour electricity and 3.26p gas). I'm being told by Eon Next, who I was moved to without being asked, I should select my next tariff now and it won't take effect until my existing deal ends, so that's good. However my options are either their recommended cheapest NextFlex, variable tarrif, no contract plus a discount for paying by direct debit, although they don't say how much - yearly cost £655.15 electricity standing charge 42.24p and gas 27.22p - unit rates 28.02 electric and 7.34 for gas. Alternatively I could go for Martin's suggestion of their NextOnline V14 which is fixed for 12 months, no exit fee and paid by direct debit at £66.75 per month, £801 annual. Quite a big jump and costlier than than their recommended option - Next Online V14's standing charges are the same as NextFlex's but the unit rates are 38.37p per Kw hour electric and 9.84p per Kw hour for gas. 

So the question I'm trying to answer as a single 68 year old (69 in November) who lives in a bedsit that usually gets *very* cold in winter, is what do or should I do? Accept this variable currently cheaper plan or take the NextOnline one with a view to pay more now but protect, if indeed it does (?) from the October and hence other cap rises? I obviously want to make a decision sooner rather than later for fear it might not be there much longer so can someone with more knowledge and understanding of all this please advise? I'd be very grateful indeed!!

Thank you kindly - Nick

Given the current projections the gas on the fix looks like a deal that I would grab whilst the electricity probably isn't going to be a bargain  but may still end up being competitive. You don't say how your usage breaks down but if your usage is  biased mostly gas (CH over winter) that may sway it (although you are obviously a below average user overall).
 At least it sounds like you would only be paying above the current SVT for 2 months until the expected October 1st changes & with no exit charges if October's SVT is lower you could jump without penalty.
 & you have at least £400 coming from the gov.