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

zorrodp

pochase said: @zorrodp

2.1  CO-OP LOYAL 12M FIXED (no exit fees)

ElectricityUnit Rate 31.88p/kWh
Standing Charge 41.40p/day (£151/year)

Gas
Unit Rate 27.22p/kWh
Standing Charge 11.59/day (£42/year)
If the above rate for electricity is true it would be brilliant, but at least gas you have mixed up unit rate and standing charge. I assume that is the case also for electricity?

If that is the case for me the fixed rate would be to high, there is just a p to save against high predictions, take the 2 months you are paying more and prices potentially coming down next year and there is no savings left.

No advice, just my personal opinionMany thanks ...

This is the breadown copied off my online web account.

So yes, the gas standing charge / unit rate got switched around. But no, not the electricty prices.

Co-op Loyal 12M Fixed

£88.37 monthly estimate

Your new quote

£1,060.46

Based on your estimated annual usage, not the figures you gave when signing up.

Electricity

Daily standing charge 31.88p/day

Unit rate 41.40p/kWh

Early exit fee £0

Gas

Daily standing charge 27.22p/day

Unit rate 11.59p/kWh

Early exit fee £0

zorrodp

pochase - apologies - yes, clearly both were transposed, I think off the email they originally sent.

pochase

As already written and without having your usage data that is not a deal I would take. It will take you several months to male up the difference between current SVT and fix you are paying for July to September, and you seem to have a low usage, so there is no real savings potential.

If you post your real usage data for 12 months we can have a closer look.

wayman

Does anyone know what % British Gas Loyalty Jun 23v2 tariff is above the current price cap?

wayman

Does anyone know what % British Gas Loyalty Jun 23v2 tariff is above the current price cap?

Below is my tariff details

About this electricity tariff

Tariff type	Fixed
Payment method	Monthly Direct Debit
Standard unit rate	34.938p per kWh
Standing charge	48.875p per day*
Tariff ends on	30/06/2023
Exit fees (if you change supplier before the end date)	£75.00
Additional products or services included	Not applicable

About this gas tariff

Tariff type	Fixed
Payment method	Monthly Direct Debit
Standard unit rate	10.496p per kWh
Standing charge	29.959p per day*
Tariff ends on	30/06/2023
Exit fees (if you change supplier before the end date)	£75.00
Additional products or services included	Not applicable

Thanks

zorrodp

pochase said:

As already written and without having your usage data that is not a deal I would take. It will take you several months to male up the difference between current SVT and fix you are paying for July to September, and you seem to have a low usage, so there is no real savings potential.

If you post your real usage data for 12 months we can have a closer look.

Many thanks for the offer!

I've been through the statements for the 12 months to May 2022, and usage for the period is calculated as follows - not wildly at variance to the Co-op Energy's latest estimates.

Gas: 2831.4 kWh (compared to the latest estimated annual usage 2703 kWh)

Electricity: 1563.0 kWh (compared to the latest annual estimate 1340.9 kWh)

pochase

zorrodp said:

pochase said:

As already written and without having your usage data that is not a deal I would take. It will take you several months to male up the difference between current SVT and fix you are paying for July to September, and you seem to have a low usage, so there is no real savings potential.

If you post your real usage data for 12 months we can have a closer look.

Many thanks for the offer!

I've been through the statements for the 12 months to May 2022, and usage for the period is calculated as follows - not wildly at variance to the Co-op Energy's latest estimates.

Gas: 2831.4 kWh (compared to the latest estimated annual usage 2703 kWh)

Electricity: 1563.0 kWh (compared to the latest annual estimate 1340.9 kWh)

Here you go



Not really much saving, plus add the higher cost for three months.

goldygash

@pochase
could you check my calculations please ☺️ Using your method I think there ‘could’ be a monthly saving of £17.37 if I move to the Fix vs the Oct SVT? Many thanks

pochase

Your calculations look correct.

Only you will not have the full savings for 9 months. Only 6 months are more or less sure as a very small increase is expected for January, but in April there hopefully will be a small drop, but your fix should still be slightly cheaper.

goldygash

pochase said:

Your calculations look correct.

Only you will not have the full savings for 9 months. Only 6 months are more or less sure as a very small increase is expected for January, but in April there hopefully will be a small drop, but your fix should still be slightly cheaper. 

@pochase
thanks again. Yeah, I meant to factor in the 6 months. This is for my elderly parents, so I am dithering so much on whether to fix for them or not, as they came off a fix at end April, so already a big jump for them. If only we had a crystal ball eh and knew if the Oct SVT will rise further.
I know the fix has a 14 day cooling off period, but unsure if BG would still offer the same SVT rate if I cancelled the fix.