British Gas Variable rate available now?

RL11

Has anyone else looked at the British Gas variable tariffs that seem to be available now? I have a fixed rate that ends at the end of June. I thought I'd take a look for any new tariffs now and was shown that I could switch to their variable rate tariff which was showing rates that I thought would be starting from 1st July when the cap changes;
EUR: 29.948p
ESC: 58.28p
GUR: 7.713p
GSC: 29.106p
This works out approx £30 less per month than what I pay with my fixed deal, so I chose to switch. Now I'm wondering if it won't kick in until 1st July - not that it's far off anyway. But, presumably, BG should be charging me the new quoted  variable tariff rate from today?

CSI_Yorkshire

I doubt it.

RL11

CSI_Yorkshire said:

I doubt it.

Doubt what? You think they won't charge me at the rate they quoted?
But if they quote a rate which I accept, then they would be legally obliged to supply at that rate?

macman

What about the early exit charge you'll incur if you leave before the fixed term expires? That would wipe out any saving between now and end June, which is only 2 weeks away?

CSI_Yorkshire

RL11 said:

CSI_Yorkshire said:

I doubt it.

Doubt what? You think they won't charge me at the rate they quoted?
But if they quote a rate which I accept, then they would be legally obliged to supply at that rate?

From the date that the rate applies, yes.

RL11

macman said:

What about the early exit charge you'll incur if you leave before the fixed term expires? That would wipe out any saving between now and end June, which is only 2 weeks away?

Early exit fee ended 13th May, so nothing to pay

RL11

CSI_Yorkshire said:

RL11 said:

CSI_Yorkshire said:

I doubt it.

Doubt what? You think they won't charge me at the rate they quoted?
But if they quote a rate which I accept, then they would be legally obliged to supply at that rate?

From the date that the rate applies, yes.

They quoted me those rates today and they switched me to that tariff today, so I should be charged those rates from today? They have not advised that it starts on 1st July, so I would expect to have a case for a refund if they don't reduce the charges as of today.

CSI_Yorkshire

I suspect that if you check, you have asked to switch to the standard variable tariff (under whatever name BG label it).  The SVT rates are very likely to change on 1 July, because that's when the price cap changes, and not before.  I would expect your rates to follow.

I might be wrong, I'm not in the BG billing department, but I don't expect any case for a refund.

Several people had an almost opposite complaint previously - "why aren't the supplier showing me what the rate will be after the cap change?!"

Scot_39

RL11 said:

GUR: 7.713p
But, presumably, BG should be charging me the new quoted  variable tariff rate from today?

Scottish Power for one - used to treat the change request differently if in the so called renewal window (about 6 wks before fix end date). 

And certainly they never charged fees or increased the rates from a lower fix onto another fix or SVT ahead of the end of the original time if pre-selected option in the renewal window.

But they would action if did prior - even by a day in theory - and charge any fees and move onto new rates "immediately" etc.

I have done both - and seemed logical in both cases.

But on the B Gas FAQ

https://www.britishgas.co.uk/help-and-support/my-account/understanding-energy-tariffs

it does simply say changes actioned within 24 hours - so it could well be you will pay the new rates from tomorrow - but not convinced.

As that would seem a perverse thing to desire if on a rising rate at end of a cheaper fix and there seems no good reason for them to charge you the cheaper July rates 2.5 weeks or so early.

Let us know what they actually do.

RL11

I suspect they won't alter the rates until 1st July too but given they quoted me 7p today and I accepted the quote today and they switched my tariff today, they should start charging me 7p from today - not July 1st

CSI_Yorkshire

RL11 said:

I suspect they won't alter the rates until 1st July too but given they quoted me 7p today and I accepted the quote today and they switched my tariff today, they should start charging me 7p from today - not July 1st

Again, only if they said the price was 7p starting from today.  You've said nothing that demonstrates that.  All you've said is that they gave you the quote today - that isn't the same thing.

Many many quotes say "this is the price you will pay when you switch at the end of your fix" - which would be true for those prices.  It doesn't mean that you get those prices if you step off the fix early.

What you might be able to do, if the prices are as I and Scot_39 expect, is to go back to them and say "I wanted to switch at the end of my fix" and get the switch post-dated retrospectively.  I don't know if that would be cheaper for you though.