How do I work out the percentage when changing to a fixed deal?

GTare14

I see that Martin has said it might be wise to take a deal around the 30% mark, but how do I work out the percentage on a fixed deal? I'm currently with British Gas on a variable rate. They seem to be offering better deals for people that were moved over to them from what I'm seeing. I've been offered the Exclusive Jul 23v2, but I'm not sure if this deal is around the 30% mark that Martin speaks about. Can someone please tell me if this seems a good deal around the 30% mark, or if I should stick to the variable rate? Below are the differences between what I'm paying for the variable and what I'll be paying on the Jul 23v2 fixed.

Variable rate: Electric, SC 48.013p, unit rate 27.092 kWh.  Gas, SC 27.22p unit rate 7.22p.

Exclusive July 23v2  Electric SC 55.077p, unit rate 35.902p kWh.  Gas SC 30.645p, unit rate 10.388p. Exit rate £150.

What is the percentage of the July 23v2 with British Gas? I have no idea how to work this out to be honest, so I have no idea if it's worth taking. British Gas wouldn't even work it out for me because they said they don't see these tariffs that are being offered. Thank you!

Mstty

Based on the average usage of 2900 kWh Elec and 12000 kWh gas as you haven't started what you use each year so had to guess?

GTare14

Mstty said:

Based on the average usage of 2900 kWh Elec and 12000 kWh gas as you haven't started what you use each year so had to guess?

I mainly use electric and very little gas, if any. Given I mainly use electric, and you have electric at 29.27%. Do you think that might be worth taking the fixed deal?

I don't have my usage for over a year because it seems British Gas reset my account when I asked for monthly bills. Thanks so much for your help.

Mstty

I wouldn't suggest anyone switches until they can nail down their annual usage. You can get a fairly good prediction sometimes from here

https://www.moneysupermarket.com/store/gas-and-electricity/enquiry/

My own projection for October this year is that electricity prices will fall between 38p-41p per kWh and gas between 10p-12p per kWh.

I no longer tell people to take deals but say do the homework and make sure you are happy with whatever you chose.

wild666

If you use the average of 2900 & 12,000 kWh and add 365 days of the difference in SC's it's just under £674 over 12 months.
Like Mstty says do your homework and use your yearly figures to work out if it's going to be cheaper if there is an £800 plus increase in October. 
If it's a 12  month deal and you are using average usage then there is a £126 saving in the 12 month period if it's a longer deal, 18 or 24 months and there is an £800 plus increase in October and say a £250 increase with the next one, be it January or March then it could be worth fixing.

I would be looking at ways to use less electric and gas like turning everything off that's left in standby mode and reducing temperatures on the boiler and thermostat to 50 degrees for water and 55 degrees for heating and lower the temperature to 18 degrees on the thermostat.