British Gas - Tariffs

whomesy

Good Evening. Our estimated gas usage is 18828kwh and electric is 2863kwh. Our new monthly payments are £162 and £82. British gas are offering a fixed until November 2023 of £195 per month for gas and £109 for electric. Is this worth taking?

Mstty

Hi there and welcome to the forum.

Ok first look it looks like they are offering you a very high price for gas and to be honest your gas usage is very high compared to your electricity use so maybe a cutting down exercise there and looking at reducing how much hot water you heat a day etc.

If you provide the kWh prices you are being quoted there are lots of people here that can help with information.

pochase

Can you please also let us know also you current rates and if you are in credit and debt and by how much just to indicate if the former DDs covered your use.

Are the quotes based on your real usage? You are just a bit below average for electricity and 50% more for gas compared to the number the cap is based on. 

As the cap is now predicted at almost £3000 the £2540 would look excellent, which is why I cannot believe it is based on your use and not just wild numbers. Also a fix until November sounds very strange. A fix will be 12 or 24 months, and maybe a month or two extra. 

whomesy

Good Morning, My last gas bill on the 14th June from the 16th December was £584.12. I am now £9 in credit. My monthly direct debit was £71.48. My last Electric bill on the 15th June was £382.38 and that was from the 16th December. I am 82p in debit. 
these rates were gas -

 My monthly direct debit was £51.22.  I am now on the variable tarriff - Gas standing charge 27.22p per day and 7.336p kwh. My new monthly charge is £162.35 per month. My Electric standing charge is 49.647p per day and  27.838p kwh.   My new monthly charge is £82.63 per month.

The new tariff they are proposing is the Exclusive Nov23v1. Gas standing charge 25.576p per day and 11.989 kwh. £195.57 per month. Electric Standing charge 45.264p per day and 39.958 kwh. £108.98 per 

pochase

See below calculations. BG is spot on with their amount for the fixed rate. Current SVT should be lower than the £244, I only calculate £244 here.



Difference between the latest prediction for the new October SVT rates and your fixed rates is very  small. Only £16 savings per month.

I assume you have to start immediately on the fixed tariff?

whomesy

Thanks very much for that info. Yes the tariff would start now. Assuming on top of the above charts the £400 energy discount would need to be applied. Would assume you recommend to stay with the SVT?

pochase

Yes, this is about the cost for your energy, not how you pay for it. So the £400 is not included at all.

I don't recommend anything, but let's say I would not go for this fix. Taking into account what you will pay more for the next months there is not much of a chance you will get a savings out of it at the current predications.

The percentage increase from SVT to fix for your usage estimates is almost 49% and outside anything that is recommended to consider.

whomesy

Really helpful advice, thank you

whomesy

So... based on the energy usage from my previous posts, BG are now offering a fixed deal until end Oct 2023. £376.29 for combined gas and electric. What do you think?

PennineAcute

whomesy said:

So... based on the energy usage from my previous posts, BG are now offering a fixed deal until end Oct 2023. £376.29 for combined gas and electric. What do you think?

I had the same dilemma for a BG Fixed tariff mid June.  But, as my gas usage over the summer (since moving home) is now very low, the saving in Gas, near as anything zeroed the elec increase until October.  Then, my savings kicked in from October, especially on the elec.

It all boils down to your usage between now and October, and being able to cut back on your usage drastiacally.