British Gas Fixed tariffs

meat_n2_reg

Hello 

Just wondering when / if British Gas are going to start offering fixed energy tariffs again ?

Thanks 

wrf12345

presumably when they start losing customers to other companies who are offering fixed tariffs, their systems don't seem to be very robust, though, so they are probably frightened to fiddle with it too much

Alpha_5

Just logged into my account and there's a fix being offered called 'Smart Aug24 v7'.

It's a couple of quid more per month than the Standard Variable, so I'm not blown away by it.

The question is, will it be worth taking it for price certainty come next April? On the other hand it would limit my ability to shop around for any better deals in the coming year - not that we've really seen anything happening in the market yet.

Gerry1

Alpha_5 said:

The question is, will it be worth taking it for price certainty come next April?

Why April?  It lasts until 31 Aug 2024.  But the exit fee is £100 per fuel.

However, with an election probably still approaching the government might well limit any increase if the world wobbles.  But nobody knows, it'll always be a gamble so it all depends on your attitude to risk.

Scot_39

Does the fix fee always apply ?

Or is it waved if switch back to svt with them etc. So only applicable if switch supplier ?

Alpha_5

Gerry1 said:

Alpha_5 said:

The question is, will it be worth taking it for price certainty come next April?

Why April?  It lasts until 31 Aug 2024.  But the exit fee is £100 per fuel.

However, with an election probably still approaching the government might well limit any increase if the world wobbles.  But nobody knows, it'll always be a gamble so it all depends on your attitude to risk.

I mentioned April because we already have a degree of insight into the likely Ofgem price cap up to the end of March. This fix is unlikely to save me much money until April at the earliest, so there seems little incentive to jump for it at the moment, unless it's for price certainty at the amount offered.

Scot_39 said:

Does the fix fee always apply ?

Or is it waved if switch back to svt with them etc. So only applicable if switch supplier ?

The wording they use is "If you move to another fixed tariff with us, there are no exit fees."

Gerry1

Scot_39 said:

Does the fix fee always apply ?

Or is it waived if switch back to svt with them etc. So only applicable if switch supplier ?

It's BG, so it's a complete muddle.

The summary says that says exit fees apply if you change supplier before the end date.  That's contradicted by the specific Ts & Cs that refer to 49 days before the end date.

The Ts & Cs also state that they won't charge exit fees if you switch to another BG fixed tariff but don't mention what happens if you switch to BG's SVT.

So you probably can revert to the SVT without penalty, but there's plenty of room for confusion !

Scot_39

So you probably can revert to the SVT without penalty, but there's plenty of room for confusion !

I personally would interpret the terms literally - and say that means you cannot switch to SVT penalty free.

Outwith the 49 days anyway - possibly even within.  Unlike other suppliers. from other posts, BG seem to treat the renewal window as an immediate change request (working day / 24 hrs etc) - not a where would you like to be at the end of fix.

Gerry1

Scot_39 said:

So you probably can revert to the SVT without penalty, but there's plenty of room for confusion !

I personally would interpret the terms literally - and say that means you cannot switch to SVT penalty free.

I wouldn't be surprised if that happens, but I'd certainly challenge it because nowhere do they warn you that you would then be hit with a penalty fee.

wrf12345

Suspect there has been a massive brain drain from British Gas retail to other parts of the group which are much more profitable...

Scot_39

Well Centrica did say it wanted to get rid of 1000s of middle managers - as part of the 5000 cuts announced for B Gas in 2020.

I suspect those not pushed - might have been tempted to leave of their own accord. Fearing for the future.