British Gas changing estimated annual cost of my Fixed rate

Deborah_72

British gas have now got this option on their site to switch from the fixed rate to the standard one which I would not do for now anyway till I have more info but I tried to get a quote just for fun and they are now saying my estimated annual cost (based on exactly the same consumption - I checked) is about £600 more than what it was in June. I even done all the calculations myself and it seems really wrong!! Is anybody else experiencing this? 

MattMattMattUK

Deborah_72 said:

British gas have now got this option on their site to switch from the fixed rate to the standard one which I would not do for now anyway till I have more info but I tried to get a quote just for fun and they are now saying my estimated annual cost (based on exactly the same consumption - I checked) is about £600 more than what it was in June. I even done all the calculations myself and it seems really wrong!! Is anybody else experiencing this? 

Based on those estimates of consumption your annual usage would be £1,900.44 pa, however that tariff only covers the next nine months, where as the annual figure will be based on the next 12 months. I suspect what has happened is that the figures used for the last three months of that period are at the much higher pre-freeze cap, possibly with slight issues due to phasing. Suppliers have not yet got the new frozen unit rates into their systems yet, so it is likely autogenerating at £0.75+ kWh for electricity and £0.18+ kWh for gas which would make slightly more sense as to how they arrived at that figure. 

It will all likely become clearer in the next week once everything has run it's course, but for the moment comparing different options is not easy as much of the info on sites is based on the unfrozen cap. 

victor2

Deborah_72 said:

British gas have now got this option on their site to switch from the fixed rate to the standard one which I would not do for now anyway till I have more info but I tried to get a quote just for fun and they are now saying my estimated annual cost (based on exactly the same consumption - I checked) is about £600 more than what it was in June. I even done all the calculations myself and it seems really wrong!! Is anybody else experiencing this? 

That calculation does look wrong. You get very close to that total if you use the "typical" annual figures of 12,000kWh gas and 2,900kWh electricity.

With all the uncertainty on government support at the moment, I'd guess BG are trying to update their systems as they get bits of information.

All you can really do is sit tight and wait for more information.