British Gas Customer - Somewhat at a loss on what to do?

jefferson89

Hey Guys,

So as the title states I am somewhat at a loss of what to do with this whole energy crisis and hoping someone can point me in some type of direction.

So currently I am a British Gas Customer on the SVR, I twas transferred here from PFP energy back in Oct 2021 due to them going bust.

My current usage approx for energy is 8000kwh for Gas and 1976kwh for Electricity for the year.  I currently pay about £79 a month but I am on quarterly billing (I did this because British Gas we a nightmare at the start with getting my figures correct - i am aware direct debit is cheaper as a payment method.

I have checked my BG account and it states BG are not offering any fixed deals at the moment.  I then spoke with BG and they confirmed all deals have been pulled and to  check back in August but before october where they maybe offering a 2 year fixed deal, but he didnt seem overly sure it was a 100% guarantee.

After reading martin lewis newsletter any meaningful fixed tariffs  being provided are by other providers to their existing customers which obviously i would not qualify for,due to not being with them presently. So my question is what do I do?  Do I just sit and hope British Gas offer something?  Is there going to be a news bulletin addressing British Gas customers having nothing to even consider , as it seems all others are being offered something?  Is there another meaningful provider, non existing customers can switch to that maybe martin / his team have forgot to mention?  It seems the new marker is finding something that is no more that 55%-60% more than the current price cap, can my situation even be accommodated for this now?


Thanks in advance

BUFF

Hi, have a look at Green Energy UK Sparkle tariff & do your sums.
There is a potential caveat in that when it comes to an end in September 2023 they are 1 of the very few companies not bound by the SVT cap - so one could potentially find oneself on a higher rate tariff than the capped SVT & the possibility of no other supplier accepting transfers to themselves on SVT. It's a hypothetical risk but 1 to be aware of.

pochase

See below our current best guess for October for your usage.



Compare this to Green Energy UK and take into account what you will pay more for the next 2.5 months.

Their fixed tariff looks good, just keep in mind what @BUFF wrote above. They are not capped regulated, so their SVT when the tariff ends or if you want to exit might be higher than the competition, and it at least at the moment it is very hard to find any supplier who will accept you as a customer on the SV|T.

jefferson89

BUFF said:

Hi, have a look at Green Energy UK Sparkle tariff & do your sums.
There is a potential caveat in that when it comes to an end in September 2023 they are 1 of the very few companies not bound by the SVT cap - so one could potentially find oneself on a higher rate tariff than the capped SVT & the possibility of no other supplier accepting transfers to themselves on SVT. It's a hypothetical risk but 1 to be aware of.

Hey Buff, thank you for getting back to me.  So to ensure I am doing things correctly and my "maths" are correct he is what i have been given / found:

Green Energy UK Sparkling 2023 with a usage of 8000kwh Gas and 1976kwh = £1984.70 a year / £165.39 per month.

Currently with British Gas on SVR (and via Cheap energy club predictions) I am currently paying £1,415 a year.  To work out the difference between the two £1984.70 with Green Energy is a 40.26% increase on my £1,415  British Gas SVR. So according to write up anything below 55%-60% over the price cap is a consider offer, so mine being at 40.26% is something to really consider?  Or is my "maths" way off?


In addition, if the above is correct, why hasnt this provider been talked about via Martin Lewis  / his team directly as it seems a contender for people to consider?

BUFF

If you look at pochase's post above with current best guess figures for SVT come October=£2253 p.a. or more than £250 dearer p.a. than Green Energy Sparkle.
Of course you will be paying a higher price between now & October 1st than you would if you stuck to SVR but it's the lower use time of the year so hopefully e.g. you aren't using too much gas atm.
& there is no exit penalty with Green Energy Sparkle (if you can find someone who will let you switch to them).

That's a good question & one that has been asked before. It  could be the potential caveat about being 1 of the very few companies that avoid having to stick to the SVT cap & therefore what potentially could happen come the end of the fix. https://www.ofgem.gov.uk/publications/decision-issue-green-energy-uk-plc-enduring-derogation-renewable-standard-variable-tariffs-default-tariff-cap
Or it could be that Martin knew that they were going to be 1 of the suppliers named by Ofgem in the lowest group https://www.ofgem.gov.uk/publications/press-release-ofgem-requires-improvements-energy-suppliers-customer-direct-debits albeit I am sure that they will have their rebuttal. https://www.theguardian.com/business/2022/jul/13/ofgem-tells-energy-firms-to-take-urgent-action-to-fix-direct-debit-problems

jefferson89

pochase said:

See below our current best guess for October for your usage.



Compare this to Green Energy UK and take into account what you will pay more for the next 2.5 months.

Their fixed tariff looks good, just keep in mind what @BUFF wrote above. They are not capped regulated, so their SVT when the tariff ends or if you want to exit might be higher than the competition, and it at least at the moment it is very hard to find any supplier who will accept you as a customer on the SV|T.

Hey @pochase thank you for putting this table up, will be a big help and shown me how suppliers charge.

I am really back and forth at the moment as based purely off numbers it would seem obvious to switch to them compared to the October SVT, but after reading passages put up by @BUFF the drawbacks of their poor infrastructure also with there non regulated SVT in a year could potential blow put this current £250 saving i would be making if i joined today.  I do value customers I honestly need to speak to more BG customers in my exact position and have an open discussion with them, just how my mind works. im so back and forth it is unreal. And if BG do end up offering a tariff in august could i end up losing out.

Ideally i need to speak to other BG Customers in my position, who may have switched to them and  see what their opinion is on their service etc. 

Mike360

jefferson89 said:

Hey @pochase thank you for putting this table up, will be a big help and shown me how suppliers charge.

I am really back and forth at the moment as based purely off numbers it would seem obvious to switch to them compared to the October SVT, but after reading passages put up by @BUFF the drawbacks of their poor infrastructure also with there non regulated SVT in a year could potential blow put this current £250 saving i would be making if i joined today.  I do value customers I honestly need to speak to more BG customers in my exact position and have an open discussion with them, just how my mind works. im so back and forth it is unreal. And if BG do end up offering a tariff in august could i end up losing out.

Ideally i need to speak to other BG Customers in my position, who may have switched to them and  see what their opinion is on their service etc. 

I moved to Green Energy a few days ago from British Gas, they are just sorting out the switch. I rang them beforehand to ask them some questions and the phone was answered pretty promptly. I am taking the view that the Martin Lewis/Cornwall projection is accurate so that is why I have moved.

jefferson89

Mike360 said:

jefferson89 said:

Hey @pochase thank you for putting this table up, will be a big help and shown me how suppliers charge.

I am really back and forth at the moment as based purely off numbers it would seem obvious to switch to them compared to the October SVT, but after reading passages put up by @BUFF the drawbacks of their poor infrastructure also with there non regulated SVT in a year could potential blow put this current £250 saving i would be making if i joined today.  I do value customers I honestly need to speak to more BG customers in my exact position and have an open discussion with them, just how my mind works. im so back and forth it is unreal. And if BG do end up offering a tariff in august could i end up losing out.

Ideally i need to speak to other BG Customers in my position, who may have switched to them and  see what their opinion is on their service etc. 

I moved to Green Energy a few days ago from British Gas, they are just sorting out the switch. I rang them beforehand to ask them some questions and the phone was answered pretty promptly. I am taking the view that the Martin Lewis/Cornwall projection is accurate so that is why I have moved.

Hey Mark,

Thanks for getting back to me and good to hear from someone else in my position, ironically i've just posted a thread calling all BG to tell me what they are doing and what is there thinking behind things.  May i ask when you called them to ask them questions what were you enquiring about (feel free not to say - if its more of a specific to you nature), just incase something to me to think about?

Mike360

jefferson89 said:

Hey Mark,

Thanks for getting back to me and good to hear from someone else in my position, ironically i've just posted a thread calling all BG to tell me what they are doing and what is there thinking behind things.  May i ask when you called them to ask them questions what were you enquiring about (feel free not to say - if its more of a specific to you nature), just incase something to me to think about?

I asked GE how long the switch would take, and asked them to confirm the there were no exit fees if I wanted to leave them before the Tariff end date.

Mrs_F_2017

@Mike360 out of interest, how long did Green Enerygy say when you asked how long the switch would take? I signed up online on Sunday. 

Mike360

Mrs_F_2017 said:

@Mike360 out of interest, how long did Green Enerygy say when you asked how long the switch would take? I signed up online on Sunday. 

When I called they said around 14 days.

When I signed up, I was emailed that they would agree a changeover date with the supplier I am currently with and then take a meter reading from me.