Our predicted bills for the next year on SVT

xzibit

I'm not sure the point of my post, however thought it may be useful to some people to help compare the pain coming over the next six months at least.

I've been going through this morning trying to work out roughly how much we will be paying at the current predictions which was initiated by a fixed tariff deal from BG. Apart from a fixed offer in June (we were on holiday when it appeared and when we got home to sort it 4 days later it had gone so we missed out) this is the only other fixed offer that I've been able to apply for. It's their fixed Sep 23v2 offer and makes a worrying prediction.

We currently use a little below the current average usage figures, 8200 for gas and 2120 for electricity, however we are confident we can lower the gas this winter compared to last year, I've used these figures in my comparisons. The BG offer is 17.4 for gas with a 29.3 SC, and 63.3 for electric with a 31.3 SC. £100 exit fee for each fuel, fixed until October 2023. We currently pay quarterly however I think I will look into a quarterly variable direct debit in order to try and save something. Not a fan of fixed monthly direct debits.

Our current tariff (SVT)
£1,577 yr / £131.47 month

Fixed Sep 23v2
£2,987.84 yr / £248.98 month

October SVT
£2,649.01 yr / £220.75 month

January SVT
£3,130.45 yr / £260.87 month

April SVT
£3,244.69 yr / £270.39 month

Now I have to decide whether to fix or not (as soon as the terms and conditions link starts working!!) at a scary price. Oh how I wish the June offer hadn't disappeared. The fixed doesn't seem to save much over the current predictions, but who knows the predictions could be £400 a month by October. 

pochase

You seem to have done your calculations. Now calculate what you use each quarter, and thus what your savings/losses are against the predicted SVT if you take the fixed tariff,

And than decide what you are gambling further increasing or at least same predictions or the predictions being wrong.

xzibit

I shall dig deeper.

The terms and conditions link doesn't work for this offer so I jumped on the chat and they said they'd send them to my email. I've just had an email from BG stating

Hello
Fixed price energy until 30 September 2023 Your unit rates are fixed, not your payments  £100 exit fee per fuel if you switch to another supplier before 13 August 2023                     

FIXED Tariff - This means that the price you pay per unit is fixed - not your payments.

Surely this can't be the terms and conditions? All this information and much more is available on the web page. So I read this as I can sign up and then drop back to the SVT without penalty.