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

Keith_F

QrizB said:

amarcusj69 said:

Currently with OVO until end Aug, 1 yr fixed at £86 p/m G&E. 
Just for offer to move to new 1 yr fix at £219, or 2yr at £256!! Compared to SVR of £149.

So, plan is to
a) wait until 26-Aug when Oct price cap is announced = no recommit to any fix; 
b) go to the SVR for Sep as is £80 cheaper that month alone vs the best fix offer
c) compare SVR vs Fix offers at start of Oct and decide to stay on SVR (with the hope that things reduce through 2023) or lock in some certainty and hope that things are. Or too far apart

I hate to say this but that might not be a very good plan.

a) There's a good chance that OVO's fixed-rate prices will rise between now and the end of August. That £219 might look like a bargain by then.

b) £219 - £149 is £70, not £80.

c) Your SVR price in Oct is also likely to be higher than the 1-yr fix you're currently being offered, enough that over the next 12 months you'll pay more than the extra £70.

My current OVO tariff is the ‘Drive’ one with the £0.05p p/kWh when charging my electric car (the tariff links my home charger so can identity usage there vs inside the house). BUT - to keep said £0.05p benefit you need to move to the £219 1yr fix. Ao, looks like I’ll be using my BP polar card (all you can eat electric) for just £7.85 p/m instead. 

Unless I'm reading this wrong, BP Pulse (formerly BP Polar) is £7.85/month just for membership; electricity is 35p/kWh on top.

You also seem to assume that you will be using the same amount of energy in Sept as during winter. You cannot determine your cost in September by dividing your yearly cost by 12.
The reality is that your extra cost in September will be pretty low, not the £70 quoted. 

MarcusK

Hi all, I am trying to work out if the 12 month fix (Gas only, as I am on OctopusGo for electric) I am being offered by Octopus is any good?

Current rate is 0.0728p/kwh 0.2722p/day
Rate offered is 0.1503p/kwh 0.2722p/day

I can't seem to find a breakdown of the anticipated 65% rise in the price cap by usage/day rate (not sure if that's even a thing?) And I understand you may not be comfortable giving me a specific yes or no on this, but that is over 100% more than my current rate?! 

Any advise appreciated, thanks.

Alnat1

A lot of us with Octopus have switched to their Tracker V3 for gas which has an 11p cap on gas unit price. The daily unit price is set by the market price, today I'm paying 10.52p. My SC is same as SVT.

Historically, once you're on the tariff, the prices have been honoured for 12 months and if Octopus need to increase the price a new version has been offered to people wanting to switch to it.

DIXYDEAN

I am with SO ENERGY UK  for both Gas and Electricity and I pay at the moment £150 per month which I set myself so I would not be in debt and I am in credit for £181.  My present fixed rate comes to an end on31 August 2022 and I have just been offered a monthly DD of £174 variable tariff (£2088)  That seems ok to me what is the advice should I renew? I also have to have both meters changed and they have told me because I want  traditional meters and they have told me that they will come with a cost - how much I do not know.

Mstty

DIXYDEAN said:

I am with SO ENERGY UK  for both Gas and Electricity and I pay at the moment £150 per month which I set myself so I would not be in debt and I am in credit for £181.  My present fixed rate comes to an end on31 August 2022 and I have just been offered a monthly DD of £174 variable tariff (£2088)  That seems ok to me what is the advice should I renew? I also have to have both meters changed and they have told me because I want  traditional meters and they have told me that they will come with a cost - how much I do not know.

Cost per month can be a good indicator but it can also be extremely misleading.

The only costs that matter are standing charges and price per kWh and yearly usage.

Do you have those.

jefferson89

My response: I've been with British Gas since Oct 2021 due to PFP Energy going bust. I'll have to see if they can offer me anything but doubt it.  Is this green energy any good, I simply ask because I would of thought Martin Lewis would of spoke about them in his newsletter as a contender?

jefferson89 said:

Hey Guys I am currently with British Gas in the SVR and I was offered a few tariffs back in June, but was unsure whether to fix or hold off.  I have checked my account and it states "you currently have no available tariffs in the app, try the website" I look at the website and again getting a.message that there no meaning tariffs to be offered and best to stay on the SVR.  Is this true for any other British Gas customer, as it seems I couldn't fixed now even if I wanted to?  Are other BG customers not being offered anything from them?

Hi there, yes this is the case for other British Gas customers as well. Following the latest price cap predictions BG do not appear to have a fix deal open to all customers. 

How long have you been with BG? Maybe they have a loyal fixed rate they can offer you via customer services?

If not consider a switch and fix away and that means switching to green energy(mentioned a lot in this thread so if you know your annual usage do a quote)

 https://www.greenenergyuk.com/

jefferson89 said:

Hey Guys I am currently with British Gas in the SVR and I was offered a few tariffs back in June, but was unsure whether to fix or hold off.  I have checked my account and it states "you currently have no available tariffs in the app, try the website" I look at the website and again getting a.message that there no meaning tariffs to be offered and best to stay on the SVR.  Is this true for any other British Gas customer, as it seems I couldn't fixed now even if I wanted to?  Are other BG customers not being offered anything from them?

Hi there, yes this is the case for other British Gas customers as well. Following the latest price cap predictions BG do not appear to have a fix deal open to all customers. 

How long have you been with BG? Maybe they have a loyal fixed rate they can offer you via customer services?

If not consider a switch and fix away and that means switching to green energy(mentioned a lot in this thread so if you know your annual usage do a quote)

 https://www.greenenergyuk.com/

Chris_White_2

I am with So Energy..standard rate .
Have been offered as an existing customer So Iris fixed for one year but could be offered for two years it says.
Electricity Unit rates 52.46 p/kwh
Standing charge 24.1 p/day
Gas Unit rates 12.87 p/kwh
Standing charge 26.11 p/day
Estimated annual cost £3,037.72
Early termination charge of £30 per utility

Keith_F

Alnat1 said:

A lot of us with Octopus have switched to their Tracker V3 for gas which has an 11p cap on gas unit price. The daily unit price is set by the market price, today I'm paying 10.52p. My SC is same as SVT.

Historically, once you're on the tariff, the prices have been honoured for 12 months and if Octopus need to increase the price a new version has been offered to people wanting to switch to it.

Actually states on my Agile and Gas Tracker, ‘fixed term ends 4 July 2023’. So until then, it seems they cannot increase the cap level. 

BUFF

DIXYDEAN said:

I am with SO ENERGY UK  for both Gas and Electricity and I pay at the moment £150 per month which I set myself so I would not be in debt and I am in credit for £181.  My present fixed rate comes to an end on31 August 2022 and I have just been offered a monthly DD of £174 variable tariff (£2088)  That seems ok to me what is the advice should I renew? 

bear in mind that variable tariff will jump massively come October & possibly again in April ...

Spoonie_Turtle

jefferson89 said:

My response: I've been with British Gas since Oct 2021 due to PFP Energy going bust. I'll have to see if they can offer me anything but doubt it.  Is this green energy any good, I simply ask because I would of thought Martin Lewis would of spoke about them in his newsletter as a contender?

jefferson89 said:

Hey Guys I am currently with British Gas in the SVR and I was offered a few tariffs back in June, but was unsure whether to fix or hold off.  I have checked my account and it states "you currently have no available tariffs in the app, try the website" I look at the website and again getting a.message that there no meaning tariffs to be offered and best to stay on the SVR.  Is this true for any other British Gas customer, as it seems I couldn't fixed now even if I wanted to?  Are other BG customers not being offered anything from them?

Hi there, yes this is the case for other British Gas customers as well. Following the latest price cap predictions BG do not appear to have a fix deal open to all customers. 

How long have you been with BG? Maybe they have a loyal fixed rate they can offer you via customer services?

If not consider a switch and fix away and that means switching to green energy(mentioned a lot in this thread so if you know your annual usage do a quote)

 https://www.greenenergyuk.com/

jefferson89 said:

Hey Guys I am currently with British Gas in the SVR and I was offered a few tariffs back in June, but was unsure whether to fix or hold off.  I have checked my account and it states "you currently have no available tariffs in the app, try the website" I look at the website and again getting a.message that there no meaning tariffs to be offered and best to stay on the SVR.  Is this true for any other British Gas customer, as it seems I couldn't fixed now even if I wanted to?  Are other BG customers not being offered anything from them?

Hi there, yes this is the case for other British Gas customers as well. Following the latest price cap predictions BG do not appear to have a fix deal open to all customers. 

How long have you been with BG? Maybe they have a loyal fixed rate they can offer you via customer services?

If not consider a switch and fix away and that means switching to green energy(mentioned a lot in this thread so if you know your annual usage do a quote)

 https://www.greenenergyuk.com/

I don't know his reasoning, but it could be to do with the fact they are not subject to the standard variable cap, so once the fix ends it's anybody's guess what energy rates will be (this far out, anyway) and no guarantee you'd be able to switch supplier to a capped SVT if GE didn't have a good fix to offer.

They also only offer the Warm Home Discount to Core Group 1 customers, i.e. people on Pension Credit receiving the Guarantee Credit element.  Everyone else who would otherwise be eligible (if they were with a different supplier) would miss out.