Exclusive Jul 23v1 (Fixed) British Gas

Chelt_chap

Given the news today about the october price cap rise is this a good deal now? 

Gas tariff costs

Estimated costs may change depending on your actual usage.

Estimated cost

£116.79 / month

£1401.48 / year

Standard unit rate

10.530p / kWh

Standing charge

30.645p / day*

Exit fee

£75.00 / fuel

Electricity tariff costs

Estimated costs may change depending on your actual usage.

Estimated cost

£87.62 / month

£1051.40 / year

Standard unit rate

34.952p / kWh

Standing charge

54.292p / day*

Exit fee

£75.00 / fuel

QrizB

That tariff works out as£2590/yr for Ofgem's average consumer. £210/yr less than the rumoured £2800 October cap.

bristolleedsfan

QrizB said:

 rumoured £2800 October cap.

https://twitter.com/ofgem/status/1529147672438915072

QrizB

bristolleedsfan said:

QrizB said:

 rumoured £2800 October cap.

https://twitter.com/ofgem/status/1529147672438915072

Rumoured, exactly. It could yet be £3800, or £1800.

Mstty

Not rumoured if it comes from ofgem, the only caveat being it states current forecast which leaves some wiggle room.

QrizB

Mstty said:

Not rumoured if it comes from ofgem, the only caveat being it states current forecast which leaves some wiggle room.

This is not an announcement of the next cap, it's a PR piece. They're getting their excuses in early, as you might say. They might have better market data than you or I do, but no-one knows the June or July price of gas with that much certainty.

Anyone who did find out the price of gas would shortly be sitting on the deck of their yacht, admiring their private island, all paid for by the killing they've made on the futures markets. This month the June price has varied almost 25% from 200p to 155p, while the July price swung by 7% today alone.

Mstty

It certainly was an announcement today, an announcement that was not a rumour, from an official source  and I already stated "current forecast" so not sure what your point is with the long winded confirmation of my point "current forecast" so not set in stone.

Goji08

Thanks. I'm a new user. I was going to ask the same question.

I suspect the government may intervene so in two minds on whether to fix as you will be paying over the odds until October on this tariff as rates are higher than the standard variable rate. May just sit and wait and see what happens over the coming days but BG could of course pull or replace the tariff. 

Mstty

Goji08 said:

Thanks. I'm a new user. I was going to ask the same question.

I suspect the government may intervene so in two minds on whether to fix as you will be paying over the odds until October on this tariff as rates are higher than the standard variable rate. May just sit and wait and see what happens over the coming days but BG could of course pull or replace the tariff. 

14 days to back out if that helps your decision

brewerdave

The "announcement" is driven by the politics - BoJo is probably going to announce some help for the "poorest" households as a result of the OFGEM BS, to bury the Sue Gray report.!!!

Goji08

Agreed. Naturally, they are denying that's the reason already!