Is it worth fixing?

Bigbadbarry1981

Hi, I'm currently on the standard tariff with British Gas for my electricity (I don't have gas as I have oil)
My question is is it worth fixing seeing I'm only on electric. What is confusing me is every thing I read about the October rise is in reference to energy price would I be right to assume this is gas and electric combined.

If so with the 51% increase coming for gas and electricity combined I assume,  would it be cheaper to stick on the standard tariff rather than switching to a fixed thats 30% more than what I pay now?

Hope that makes sense.  

pochase

That is not how percentages work. 50% increase does not mean it is 25% for gas and 25% for electricity.

Almost for sure the increase for electricity unit rates will be lower than for gas unit rates, but it will be still about 50% on the unit rates and no increase on the standing charges as per current predictions/guesses.

If can get a fix that is only 30% more expensive than your current SVT it is almost for sure a good one. Almost because it also depends on your usage, the lower the usage the more the 0% increas eof the standing charge reduces the increase percentage.

EssexHebridean

Depends entirely on many factors - add a post here with your annual consumption, day/night split (assume you are on E7?) and what rates the fix you have been offered has an someone will be able to offer a bit more insight. A rough idea of where in the country you are would be helpful too.

Also - beware of agreeing to ANY tariff that requires a smart meter to be fitted if you are with British Gas on Economy 7 - they have significant issues supporting dual rate on SMs.