Switching electricity suppliers and then being offered a deal by your previous supplier

Bettytwinkle

I have recently switched from British Gas to Octopus for electricity. Within a couple of days of the switch taking place I received a call from British Gas saying that they didn't want to lose me as a customer and they are offering me a deal on NOT charging for the current standing day rate for 12 months, I asked them to email me with the details as I thought it was a scam. I have received an email. I have a 14 day cooling off period with Octopus. Has anybody else experienced this?

mmmmikey

Hi @Bettytwinkle welcome to the forum. Used to be common for that to happen but seems less so now. Maybe it's a sign of the market becoming more competitive again after a period of little to choose between suppliers on price? How does the BG offer compare? Unless it's a big saving, I'd personally be inclined to stick with Octopus now you've switched, particularly if you have a smart meter as they offer good service and some very attractive smart tariffs which may be of interest in the future.

Ildhund

With a national average SC of 61-67p/day, that's a £210-250 discount (beware of VAT) - a good chunk of the October price cap's £1717. Worth looking at, I'd say. 

bob2302

Bettytwinkle said:

 I asked them to email me with the details as I thought it was a scam. I have received an email.

You should still exercise some caution about handing over bank details or other personal information that BG should already have. An email isn't much of a verification.

Mark2019

This has just happened to me - British Gas are offering me the below tariff plus one of  three incentives :

• Either a FREE hive mini thermostat (cuts your gas consumption by 25%, saving you over £170 per year)
• £100 credit added to your account in 90 days
• Or £146 credit added to your account in March

I’m inclined to continue to switch to octopus as it at least gives flexibility to move onto another tariff penalty free in the event prices go down. Their customer service is also better and they offer £50 bill credit upfront. Anyone got any thoughts to the contrary?

bristolleedsfan

Mark2019 said:

. Their customer service is also better and they offer £50 bill credit upfront. Anyone got any thoughts to the contrary?

If British Gas have put no deadline on when offer has to be accepted and you wish to take the offer all you need do is make £1 card payment to your Octopus account which normally triggers £50 credit added the following day and stay with Octopus for 14 day cooling off period so that switch does not get regarded as cancelled. Seems to be no other minimum period have to wait in between switches.  previous 28 day rule appears not to apply since faster switching came into force.

(normally assumes Octopus system not gone awry rolling over referrals due from week to week as was case sometime last month)

bristolleedsfan

Comparison of fixed rates North West Region -

British Gas - 12 month fix - Can change to another British Gas Fix no exit fees

     E

Unit rate

25.011p per kWh (inc. VAT)

Standing charge

35.597p per day (inc. VAT)  £50+ cheaper per year - unit rate cheaper as well

     G

Unit rate

6.157p per kWh (inc. VAT)

Standing charge

23.542p per day (inc. VAT)


Octopus - No Exit Fees - 15 Month fix

Electricity standing charge 49.98p Unit rate 25.46p /kWh

Gas standing charge 29.71p Unit rate 5.69p /

British Gas also have 2 year fix SC lower than Octopus

Mark2019

bristolleedsfan said:

Comparison of fixed rates North West Region -

British Gas - 12 month fix - Can change to another British Gas Fix no exit fees

     E

Unit rate

25.011p per kWh (inc. VAT)

Standing charge

35.597p per day (inc. VAT)  £50+ cheaper per year - unit rate cheaper as well

     G

Unit rate

6.157p per kWh (inc. VAT)

Standing charge

23.542p per day (inc. VAT)


Octopus - No Exit Fees - 15 Month fix

Electricity standing charge 49.98p Unit rate 25.46p /kWh

Gas standing charge 29.71p Unit rate 5.69p /

British Gas also have 2 year fix SC lower than Octopus

My thinking is it’s £50 cheaper per year compared to Octopus now but that if prices drop in 12 months I’m free to move penalty-free with octopus rather than pay £50 per fuel with BG. Happy to take the risk when looking at current wholesale prices