Fixed Tariff Reduction

Ella_fella

QrizB said:

Ella_fella said:

1. Where can I reference the new E7 energy cap tariffs please or is it not that simplistic?

Here's a set of tables showing the averaged costs (from Octopus).

DD rates:

Cash/cheque rates:

And prepay / PAYG rates:

Ella_fella said:

2. Why shouldn't I? I had the foresight to react to the well forecast hikes in the energy cap and was totally justified in doing this until the government stepped in. Why should I or anyone else similar be penalised for 6 months for organising themselves correctly?

I've answered that already above.

Thankyou very helpful.

I'm in the East Midlands and from the table and your calcs it looks like my E7 rate is slightly above the price cap weighted average of 30.33p/kWh but quite a bit below the sc price cap of 45.86p

QrizB

Ella_fella said:

I'm in the East Midlands and from the table and your calcs it looks like my E7 rate is slightly above the price cap weighted average of 30.33p/kWh but quite a bit below the sc price cap of 45.86p

I think you've got your SC and day rate reversed. If I put an East Midlands postcode into BG's website and look up the rates for your tariff, I get this:

With a day rate of 38.184 and a night rate of 19.947, the weighted average is 30.335p/kWh, which is within a rounding error of the price on the Octopus table.

Ella_fella

QrizB said:

Ella_fella said:

I'm in the East Midlands and from the table and your calcs it looks like my E7 rate is slightly above the price cap weighted average of 30.33p/kWh but quite a bit below the sc price cap of 45.86p

I think you've got your SC and day rate reversed. If I put an East Midlands postcode into BG's website and look up the rates for your tariff, I get this:

With a day rate of 38.184 and a night rate of 19.947, the weighted average is 30.335p/kWh, which is within a rounding error of the price on the Octopus table.

Yes you're quite correct, I transposed the day and sc rates when I did my calc, many thanks again for this info

Heedtheadvice

Just had today info from UW regarding.my fix and the 'adjustments' for EPG. Current tariff higher than EPG.

Standing charge unchanged ( same as variable rate )

 Fix unit rate  brought down to variable rate bar a very small amount worth (£20) per annum.

Option for customers to switch from fixed to variable at no charge  (normally £25 per fuel).

Switch before end Sept and it is backdated to start of month so another small reduction in cost.

UW claim, given acceptance of two of the other services offered  a 5% discount on fuel ( which works out ok financially but is not necessarily suited to everyone).

To me it seems both fair and simple!

Ella_fella

QrizB said:

Ella_fella said:

I'm in the East Midlands and from the table and your calcs it looks like my E7 rate is slightly above the price cap weighted average of 30.33p/kWh but quite a bit below the sc price cap of 45.86p

I think you've got your SC and day rate reversed. If I put an East Midlands postcode into BG's website and look up the rates for your tariff, I get this:

With a day rate of 38.184 and a night rate of 19.947, the weighted average is 30.335p/kWh, which is within a rounding error of the price on the Octopus table.

Do you know please if British Gas are going to pay the £400 energy discount in a lump sump (paid into the bank account the detect debit is linked to I assume?)  or prorata this over 6 months and adjust the amount of the direct debit to reflect?

The_Fat_Controller

Google is your friend @Ella_fella, but I've done it for you this time.

Expand "How will I receive the discount?" on the page below.

https://www.britishgas.co.uk/energy/help-if-youre-struggling-to-pay/government-support.html

brewerdave

My EDF ( gas only) tariff has been updated earlier today on the web page ,reducing my Fix Total Service June 24 unit price to 10.394p/kwh from 11.153p/kwh - the s/c remains unchanged.
I have heard nothing from BG re my electricity fix Exclusive May 23 v1 , however I think that will remain unaltered.

WinstonTown

Ella_fella said:

QrizB said:

Ella_fella said:

I'm in the East Midlands and from the table and your calcs it looks like my E7 rate is slightly above the price cap weighted average of 30.33p/kWh but quite a bit below the sc price cap of 45.86p

I think you've got your SC and day rate reversed. If I put an East Midlands postcode into BG's website and look up the rates for your tariff, I get this:

With a day rate of 38.184 and a night rate of 19.947, the weighted average is 30.335p/kWh, which is within a rounding error of the price on the Octopus table.

Do you know please if British Gas are going to pay the £400 energy discount in a lump sump (paid into the bank account the detect debit is linked to I assume?)  or prorata this over 6 months and adjust the amount of the direct debit to reflect?

I had an email saying I would get £66 a month back, a few days after my DD has gone out. This is meant to come direct to my bank account as I pay by DD, if you don’t, I think it gets applied to your energy account.

DrFaustbe

brewerdave said:

My EDF ( gas only) tariff has been updated earlier today on the web page ,reducing my Fix Total Service June 24 unit price to 10.394p/kwh from 11.153p/kwh - the s/c remains unchanged.
I have heard nothing from BG re my electricity fix Exclusive May 23 v1 , however I think that will remain unaltered.

Hi Dave,

did you ever get an email from BG about that? I didn’t! After hunting down a rep on their chat, he said they wouldn’t offer any discounts on this exclusive may 23 v1… I wonder if we would be better switching to the variable then, even if the savings would be pennies 

EssexHebridean

Ella_fella said:

Deleted_User said:

Ella_fella said:

I've just checked my tariff with BG which is Loyalty July 23 v1, two things I can't understand please:-

1. The tariff now shows as sc 38p with the day rate 39p and the night rate 19.5p - I have an Economy 7 meter - surely the day rate and sc is above the reduced energy cap?

2. I fixed this tariff in April this year when I was paying sc of 39p and a day rate of 43p night rate  25p - so effectively I've been overpaying on these rates for half a year - how do I recoup this difference back?

1. The cap that gets talked about is the single rate cap, it's different for E7.

2. You don't.  Why should you?

1. Where can I reference the new E7 energy cap tariffs please or is it not that simplistic?

2. Why shouldn't I? I had the foresight to react to the well forecast hikes in the energy cap and was totally justified in doing this until the government stepped in. Why should I or anyone else similar be penalised for 6 months for organising themselves correctly?

Fixing comes with risks - even a small amount of research would have informed you of that. If someone wasn't aware of this before proceeding with a fix I'd question whether in fact they were "organising themselves correctly", or whether in fact their fix was in fact a knee-jerk reaction that they made without proper research and consideration.  (I also fixed, knowing that if things from 1st October didn't end up working out according to the forecasts I could potentially end up paying more for the period of time running up to that point. I chose to take that risk as at the time it appeared that the payback subsequently would be worth it. As it turned out, it wasn't, but there you go, that's the way life is sometimes!)