British Gas Price Promise Tariff

malc_b

Am I just a cynic or does BG "Price Promise" fixed tariff have a gotcha?

On this tariff, for me, S/C is +28% and unit is -13%.  Most people will save now, for the remaining 6 wks.  The the cap is predicted to drop 16% and BG's price promise is that they'll match this.  I wonder if that includes the s/c too?  But what about Oct when prediction is down another 8%?  BG only say April cap.  So is this in fact a saving of 13% for 6wks, 0% for 3mths, then -8% for 3mths and -5% for 3mths?  If the predictions are correct.  Doesn't sound so good put that way.

BellaBlondykeTheThird

If this tariff has zero exit fees what is the issue, leave for.anothee BG tariff in July if it becomes more expensive or at any time.

malc_b

You're assuming that BG will offer a fixed price tariff that matches the price cap in July.

BellaBlondykeTheThird

malc_b said:

You're assuming that BG will offer a fixed price tariff that matches the price cap in July.

No just move back to the price cap in July if it drops below the price promise tariff. Or later during the 15 months price promise.

Really it's not that difficult.

bristolleedsfan

BellaBlondykeTheThird said:

malc_b said:

You're assuming that BG will offer a fixed price tariff that matches the price cap in July.

No just move back to the price cap in July if it drops below the price promise tariff. Or later during the 15 months price promise.

Really it's not that difficult.

British Gas changed its publicised wording August 23 ish, existing customer offers as well as for new customers, can only change to another BG fixed tariff without exit fees.

BellaBlondykeTheThird

bristolleedsfan said:

BellaBlondykeTheThird said:

malc_b said:

You're assuming that BG will offer a fixed price tariff that matches the price cap in July.

No just move back to the price cap in July if it drops below the price promise tariff. Or later during the 15 months price promise.

Really it's not that difficult.

British Gas changed its publicised wording August 23 ish, existing customer offers as well as for new customers, can only change to another BG fixed tariff without exit fees.

Cheeky sods when I first saw this for a family member it didn't have that caveat.

maya85

I have also seen this offer on the website. Not sure if I should take it or not. Energy prices do seem to be coming down slightly. 

uss_tish

I was also unsure but have been put off by the significant rise in the standing charges (10p a day elec and 3p a day gas) on the new fixed tariff. I think I’m going to stay on the variable for now.

bristolleedsfan

uss_tish said:

I was also unsure but have been put off by the significant rise in the standing charges (10p a day elec and 3p a day gas) on the new fixed tariff. I think I’m going to stay on the variable for now.

I have looked at two different regions, I fail to see E SC more expensive than variable tariff, few pennies more expensive than recent fixes they were offering due to recent fixes being offered cheaper than price cap. 

uss_tish

@bristolleedsfan completely different to my offer: see the original poster where they mention SC increases of 28%. 

malc_b

 My offers are:

Current, price cap = 28.798p/kWh + 49.966p/day

Price Promise May25 (fixed until May2025 = 25.080p/kWh + 63.789p/day  (exit 75/fuel)

Fixed Feb26 v2 = 28.291p/kWh + 47.226p/day (exit 200/fuel)

Only the price promise says it will stay below April's price cap, that's a jump of ~14p on S/C (I'm electric and oil).