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

Sneaker

Evening all. I’ve no idea what to do. I have had an email from British Gas offering me Jul23v2 

i am currently on the standard  variable rate at:

Gas:

Standing charge:  27.220p per day

Unit rate: 7.476p per kWh

Electricity:

Standing charge:  51.626p per day

Unit rate: 28.408p per kWh the rate they are offering is: Gas:  Standing charge:  30.645p per day Unit rate: 10.639p per kWh   Electricity:  Standing charge:  57.790p per day Unit rate: 37.219p per kWh any thoughts please?

QrizB

Sneaker said:

Evening all. I’ve no idea what to do. I have had an email from British Gas offering me Jul23v2 
...
any thoughts please?

In light of the recent revised forecasts it's the best fix youre likely to be offered this year, and I can't see it being around for long.

Bradders9126

crey said:

Just read Martins updated advice re fixing or not. He is suggesting to fix if the rate is less than +35% above the current or +40% if you want price stability.

I'm with octopus and my fix ran out a couple of months ago. I am therefor on the

Flexible Octopus Tarrif:

Direct Debit	Electricity/kWh	Standing Chg	Gas/kWh	Standing Chg		Cost/Year
£147.68	29.23p	37.65p	7.34p	27.22p		£1,772.16

The Loyal Octopus 12M Fixed Tarrif on offer is:

Direct Debit	Electricity/kWh	Standing Chg	Gas/kWh	Standing Chg		Cost/Year
£207.91	41.44p	37.65p	11.17p	27.22p		£2,494.92

That makes an annual difference of + £722.76 or Just under +41%

I'm struggling to decide if fixing is the right thing to do. I don't want a huge jump in October or next year but +40% seems a bit high. I keep flipping between fix for stability and stay variable as it saves money now. Like many on here I wish I had a crystal ball.

That’s different to what mine is showing on The Loyal Octopus 12M Fixed Tariff

Electricity - kWh 40.29 / Standing 51.36
Gas - kWh 11.43 / Standing 27.22 🧐

basketcase

I still can't see that Shell Energy is offering anything at all except Flexible 7.  I've certainly not been offered any sort of fix/alternative.

Is this because there isn't anything on offer, or is it only for 'real' customers and not those transferred from Pure Planet?

funny.money

basketcase said:

I still can't see that Shell Energy is offering anything at all except Flexible 7.  I've certainly not been offered any sort of fix/alternative.

Is this because there isn't anything on offer, or is it only for 'real' customers and not those transferred from Pure Planet?

Not sure if this is relevant or helpful but when I tried to fix my tariff at EDF I couldn't see the deal I wanted online.  It took a few calls for a really helpful customer services lady to point out that no deal was on offer because I was still on their 'welcome variable rate' after my old supplier collapsed.  She moved me onto EDF variable rate (no change in price at all) then the next day the EDF offers were showing available to me online. 

Sneaker

QrizB said:

Sneaker said:

Evening all. I’ve no idea what to do. I have had an email from British Gas offering me Jul23v2 
...
any thoughts please?

In light of the recent revised forecasts it's the best fix youre likely to be offered this year, and I can't see it being around for long.

Thanks. It’s worse than it seems as I’m just basing it on costs before the rise in October I guess so take it?

basketcase

funny.money said:

basketcase said:

I still can't see that Shell Energy is offering anything at all except Flexible 7.  I've certainly not been offered any sort of fix/alternative.

Is this because there isn't anything on offer, or is it only for 'real' customers and not those transferred from Pure Planet?

Not sure if this is relevant or helpful but when I tried to fix my tariff at EDF I couldn't see the deal I wanted online.  It took a few calls for a really helpful customer services lady to point out that no deal was on offer because I was still on their 'welcome variable rate' after my old supplier collapsed.  She moved me onto EDF variable rate (no change in price at all) then the next day the EDF offers were showing available to me online. 

Thanks for this @funny.money I'd better ring and ask.

Jlee23

Eon seem to be offering a good rate for existing customers. I calculated to be 21% above price cap

Electricity

Next Flex

Fixed term ends 22/06/2022

29.24 p/kWh 37.92 p/day

(All rates inc. VAT)

Electricity

Next Loyalty 12M Fixed Rate - June 2022 Issue 1

Starting on 22/06/2022

Fixed term ends 22/06/2023

36.64 p/kWh 37.92 p/day

(All rates inc. VAT)

Gas

Next Flex

Fixed term ends 22/06/2022

7.34 p/kWh 27.22 p/day

(All rates inc. VAT)

Gas

Next Loyalty 12M Fixed Rate - June 2022 Issue 1

Starting on 22/06/2022

Fixed term ends 22/06/2023

9.13 p/kWh 27.22 p/day

(All rates inc. VAT)

_bishbashbosh

Does anyone know roughly what the standing charge and kwh will be for the new predicted cap? That's the only way my simple brain can judge if a fixed term deal is viable! 

_bishbashbosh

Update to my post above: Octopus offering for existing customers - fix the standing charges for 12 months at their current SVR rate. Per unit cost increases by 55% for electricity and 42% for gas. 

Standing charge is only a tiny fraction of the bill though - so is it worth paying more per unit now, since predicted rise to the cap is also 50%? A tough one...