Do I fix now or not ? - British Gas electric only

Patr100

Given Martin's suggestion, I just decided to switch to this BG electricity offer as well before they pull it.
My gas usage is seasonal but my electricity isn't so the winter wont make a lot of difference to my current use.
I can keep my gas use down to a minimum but not my electricity for basic day to day stuff.
Factor in that war in Ukraine isn't likely to end soon - which affects energy prices .

warwickbears

Another BG electricity only customer. As soon as I saw the breaking news on BBC website at lunchtime, I signed up for the May 23 fixed rate, on the assumption it may well be pulled pretty quickly.

Ultrasonic

myozone said:

I've just decided to switch to the British Gas Exclusive May 23v1 fixed one year tariff above. I have 14 days to change my mind !

Sounds like it might be a wise idea given the news again today - but who knows for sure though ...

What are other people doing ? have you switched if so, who to ?

I took a punt on a Scottish Power fix at the end of February but it's still to early to tell if it was the right move.

Shedman

Gone for the BG May23v1 fix Electric only for stepdaughter as well.  With her very low usage during Summer it only needs a 21% increase in October to her to be better off (sorry I meant less worse off....) and given we had a mild winter just gone sod's law suggests it'll be a colder one next Winter so it might even need to be less of an increase for her to benefit.

cslogg

Also gone for the BG May23 v1 after weeks of dithering.Was on DD of £75 with Together Energy.BG put me on £120.Now on £135 with BG. Electricity only.Hopefully correct decision.

jobdone1

Yep I have taken the plunge with BG. It's mad in November I was paying 14p per unit with neon reef I'm now paying 35p I'm truly losing my mind with it all. Let's not even go there with my gas zog to EDF 

Patr100

Overall, I make it a 17% increase on what I am paying now for my expected Kwh use.
We are paying more early to fix, but if the next cap increase is October is high we should be paying relatively lower  for about 8 months of the next 12  and through the winter (for those who use electricity for heat)
so hopefully it will be beneficial.
I dont like BG at all but they are the devil I know for the current situation.

brewerdave

Reluctantly I've taken this tariff as well as I'm only with them for leccy.  IF the Oct. increase is more than 22% then I reckon it's worth doing.......now to look at the gas with EDF ....

myozone

Indeed, The news again this morning is bleak with the predicted increase in October. Even if the government does something to help with the prices will still increase in October. I look at the wholesale energy prices daily and the trend is up with Brent crude so I would guess gas (electricity) wouldn't be far behind in time. 

Not forgetting we've (I) have 14 days in which to change our minds if things change dramatically, but given the situation now I consider it's the best thing to do is fix. Also the raised price would be 'only' for the four months June - end of September.

AbbieCadabra

i've just switched to this tariff too, it wasn't really worth going for a fix, until now, based on the latest estimated increase figure just announced.  Even if it does reduce on the next quarter it should still be a saving overall -
electric only 10k kw use, south west region,
fixed May '23v1 tariff = 17% inc in kw & 14% inc on s/chg rates over current Welcome tariff/SoLR.