British Gas - Variable or Fixed

Alexandra73

Current variable tariff with BG, should I go for a fixed tariff?

DiseasedBunny

Yes, errr , no.   Some information from you would help 

QrizB

Welcome to the forum.

Alexandra73 said:

Current variable tariff with BG, should I go for a fixed tariff?

The most likely answer is no; there isn't a BG fix on the list here:
https://www.moneysavingexpert.com/utilities/-are-there-any-cheap--fixed-energy-deals-currently-worth-it--/

But the answer could be yes depending on your annual consumption figures and the specific details of the fix you've been offered.

Mstty

DiseasedBunny said:

Yes, errr , no.   Some information from you would help 

Maybe if you ask the information from a new poster to the board that you would need to help that would be handy as well? Yes...er... no???

Welcome to the forum @Alexandra73

If you login to your online British Gas account the first piece of info that helps us help you is the price per kWh for elec and gas(if you have this as well) and the standing charges. Then your annual usage of energy.

Alexandra73

Thank you for clarifying the steps I need to take to decipher whether or not to make a change from variable to a fixed.

Elec - 29.24 per kwh
37.918 per day
Est Annual = 1,085.14kwh
Est Annual cost = £455.67

Gas - 7.344 per kwh
27.22 per day
Est Annual = 8,126.89 kwh
Est Annual Cost = £696.15

spot1034

Alexandra73 said:

Thank you for clarifying the steps I need to take to decipher whether or not to make a change from variable to a fixed.

Elec - 29.24 per kwh
37.918 per day
Est Annual = 1,085.14kwh
Est Annual cost = £455.67

Gas - 7.344 per kwh
27.22 per day
Est Annual = 8,126.89 kwh
Est Annual Cost = £696.15

That'll be the current variable tariff you're on. This will increase very sharply in October. See the 'Energy News in General' thread for more up to date discussion which should give you some idea of what you're in for, and compare that with what you have been offered as a fix. 

pochase

You are quoting the current SVT. What has been offered to you?

Also is the estimate really your usage over 12 months or just a guess by them?

Alexandra73

I've just sent my latest meter readings into them. They usually come back with an offer around the time of working out my bill, so I'm waiting on that. I could chat with them online but that means waiting in a queue for at least an hour or more

My actual usage from Aug '21 to June '22 
Gas: 7824kwh
Electric: 968kwh

Timesaretough

Hi, New to these boards so wasn't sure i fi should ask the same question on this thread or start a new one, So i opted to continue on this one so i don't duplicate. I have the same question as the OP.

Currently i have been quite fortunate as i have been fixed for a while with BG. I have therefore not had a single price increase throughout these times as of yet. However my fix ends in late September so i presented with a tough choice and just wondered if anybody could offer an advice?

My current prices are,

Gas 3.987p per KW with a daily charge of 24.794p
Electric is 20.317p per KW with a daily charge of 22.441p per day.

If i fix again until end of October next year, the prices would be,

Gas 15.115p per KW with a daily charge of 24.480p per day
Electric 49.868p per KW with a daily charge of 37.901p per day

I got in touch with BG who advised their current standard rates are
Gas 27.22p per KW with a daily charge of 7.282p per day
Electric 27.627p per KW with a daily charge of 44.75p per day.

If i fix and use their estimate, My energy bills will double the monthly direct debit.

However I'm aware there will be another huge uplift in prices in October. So really unsure what to do here. If anybody could offer any advice i sure would be extremely grateful.

Thanks.

Ballymoney

According to a few knowledgeable people on here the variable capped rate from Oct is due to be approx 14p and 44p for gas and electricity respectively. 

Personally I wouldn’t take that BG fixed rate. I’d be happy to take the gamble and go with the variable rate.