Variable or Fix

sterling30

I've read Martin's recent post on this 4 times but unsure what to do. I'll keep this really simple... my current rate is ending soon. I'm with British Gas and they are offering me the following options: 1. Stay on Variable Rate which, based on last 12 months usage will cost £3543.12 for the next 12 months, OR 2. Move to Fixed Rate, based on last 12 months usage will cost £4508.58 for next 12 months. That's a rough increase of 28%. Martin has suggested it might be worth considering a Fixed Rate provided it is no more than 35% above your current price-capped tariff. If my "current price-capped tariff" constitutes as Option 1 above then I suppose the answer is that Martin suggests going for the Fixed. But I'm not certain what my "current price-capped tariff" constitutes as. Could it be what I have paid over the last 12 months? I know I'll be one of millions wondering this same question and finding the whole thing completely depressing, but I appreciate any help that comes forth.

Mstty

On the current variable rate £3500 is a lot of energy usage do you know your actual kWh used over a year for energy?

sterling30

I thought so too, especially for a 2 bed flat. My last statements says this:

GAS > 02 Nov 2021 - 29 Mar 2022 12011.56kWh at 3.860p per kWh

ELEC > 02 Nov 2021 - 31 Mar 2022 3292kWh at 20.530p per kWh

I don't have access to the previous 6 months because it was with a different supplier who went bust and I can't access my account on their site, and their emails don't show my usage.

Does this help?

sterling30

Plus this:

ELEC > 1 Apr 2022 - 7 Apr 2022 84kWh at 29.578p per kWh

Mstty

It does help can you confirm if they are estimates or actual readings normally have an E or A near them on your bill or the words.

To put this into perspective an average 3 bed with 2-3 people is supposed to be averaged nationally at 2900 kWh elec and 12000 kWh gas for the year. You have potentially exceeded this in under 5 months albeit winter months when.most usage occurs.

sterling30

That is very worrying to hear. Here is a screenshot of the bill...

sterling30

I appreciate your help on this. If the figures are accurate then I wonder what could be causing such a drain? We have the following:

Gas boiler - high quality and brand new as of Jan. Radiators all have termo valves fitted. Previous awful old boiler kept firing on and off for years (maybe this caused energy figures to spike? Therefore any estimates could be wrong.

Shower (brand new) - most of last year we had baths, whilst fitting out the new shower zone. Maybe this has also caused the energy levels to spike and the predictions to be wrong?

Washing machine (newish high quality) (on once every two days)

Tumble drier (newish high quality) (on 6 times per week)

Dishwasher (newish high quality) (on once per day)

Dehumidifyer (on randomly - approx once per month)

Car battery conditioner (on every day)

Gas hob (used for normal cooking)

Kettle, TV, Virgin TIVO, WIFI, Stereo...

Lights - most have LED bulbs. Try to keep to minimum 'on'

Roof terrace water fountain - on about 34 days per year

Microwave - kept plugged in ('on') used once every day

Fridge freezer (newish)

Himalayan Salt lamp - used most evenings for a few hours

iPhone and Laptop chargers - used on and off most days

That'everything I can think of.

sterling30

from Jan to Dec last year I paid £1800 for gas & elec.

pochase

A bit strange that you submitted a manual read for electricity on 31st of March but not for gas, so gas is estimated.

Can you please post todays meter reads? 

sterling30

I tried to submit Gas but the stupid British Gas website wasn't working properly so I was unable to. I've found BG to be awful. Their website has often not worked and getting in touch is a joke. Anyway I digress...

Mstty

A reading today will help for both gas and elec to work out annual usage👍