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

myozone

Skin of your teeth ?

Zolablue

pochase said:

Zolablue said:

jrio said:

This tariff has now been pulled.

Ah thanks. I was just trying to crunch the numbers so I can stop bothering now. 
I got a little confused when trying to crunch the numbers though as I couldn't work out whether the projected 40% rise in the cap equated to a 40% rise in electricity price and a 40% rise in the standing charge or whether the rise would be split differently. 

There will almost certainly be a different increase for gas and electricity. In April the increase for gas was almost double for gas than for electricity.

But nobody will know exactly for October before the new cap is announced.

Standing charges are not expected to increase by much if at all.

So really it's impossible to work out whether you would be better off fixing or not. Martin's advice to do your own calculations are simply impossible.

As posted by jrio, I also received an email from British Gas saying that I was on the May23v1 tariff - which was a bit of a surprise. Not sure that I want to be now!

myozone

@zolablue I had the same feeling, 'is this a really a good idea '  but now I think it's a good idea to fix with all the global issues and wholesale prices rising all the time. Gas prices have started to tick up in the last week, gas is now at 192p/therm. I would only fix for a year because who knows what the future holds.

jrio

Zolablue said:

pochase said:

Zolablue said:

jrio said:

This tariff has now been pulled.

Ah thanks. I was just trying to crunch the numbers so I can stop bothering now. 
I got a little confused when trying to crunch the numbers though as I couldn't work out whether the projected 40% rise in the cap equated to a 40% rise in electricity price and a 40% rise in the standing charge or whether the rise would be split differently. 

There will almost certainly be a different increase for gas and electricity. In April the increase for gas was almost double for gas than for electricity.

But nobody will know exactly for October before the new cap is announced.

Standing charges are not expected to increase by much if at all.

So really it's impossible to work out whether you would be better off fixing or not. Martin's advice to do your own calculations are simply impossible.

As posted by jrio, I also received an email from British Gas saying that I was on the May23v1 tariff - which was a bit of a surprise. Not sure that I want to be now!

As BG never do anything that benefits the customer more than them, I did have that feeling.  However, their offer works out at around a 22% increase over a year, and it's hard to see October's increase being less than that.

Zolablue

jrio said:

Zolablue said:

pochase said:

Zolablue said:

jrio said:

This tariff has now been pulled.

Ah thanks. I was just trying to crunch the numbers so I can stop bothering now. 
I got a little confused when trying to crunch the numbers though as I couldn't work out whether the projected 40% rise in the cap equated to a 40% rise in electricity price and a 40% rise in the standing charge or whether the rise would be split differently. 

There will almost certainly be a different increase for gas and electricity. In April the increase for gas was almost double for gas than for electricity.

But nobody will know exactly for October before the new cap is announced.

Standing charges are not expected to increase by much if at all.

So really it's impossible to work out whether you would be better off fixing or not. Martin's advice to do your own calculations are simply impossible.

As posted by jrio, I also received an email from British Gas saying that I was on the May23v1 tariff - which was a bit of a surprise. Not sure that I want to be now!

As BG never do anything that benefits the customer more than them, I did have that feeling.  However, their offer works out at around a 22% increase over a year, and it's hard to see October's increase being less than that.

The fact that they withdrew the offer suggested to me that they thought that it offered decent value but, I guess, it's just a pure gamble really