Fixed rate not fixed

BatOllie

My fixed rate energy bill has just more than doubled. What I didn't realise was that the fixed bit is cost per unit of electricity and not usage so I've managed to accumulate a fairly hefty debt. Had I known this I wouldn't have bothered with a fixed rate.  British Gas, who my account is with,  have agreed to lower my direct debit for 3 months when it'll be reviewed again.  Am I the only person to have not realised what 'fixed ' means?

marcia_

 You are not the first and won't be the last. If you use more you pay more. 

I tried explaining this to a friend when she bought a hot tub and had it switched on 24/7. 

Ayr_Rage

You aren't the first and won't be the last but if you had watched the Martin Lewis Money Show any time over the last 5 years or so you would have been in the know.

Fixed rates can save you a lot of money but you always pay for what you use, they have never been "all you can eat" buffets.

Bungle73

Ayr_Rage said:

You aren't the first and won't be the last but if you had watched the Martin Lewis Money Show any time over the last 5 years or so you would have been in the know.

Fixed rates can save you a lot of money but you always pay for what you use, they have never been "all you can eat" buffets.

I'm constantly amazed at the amount of people who come on here who don't appear to have seen or read a single thing Martin Lewis has said, even though this is HIS website! 

Robin9

@BatOllie   Has a second thread on a similar the

Scot_39

Bungle73 said:

Ayr_Rage said:

You aren't the first and won't be the last but if you had watched the Martin Lewis Money Show any time over the last 5 years or so you would have been in the know.

Fixed rates can save you a lot of money but you always pay for what you use, they have never been "all you can eat" buffets.

I'm constantly amazed at the amount of people who come on here who don't appear to have seen or read a single thing Martin Lewis has said, even though this is HIS website! 

But its not his website.

He sold out his ownership over 10 years ago for £10s millions.

https://www.bbc.co.uk/news/business-18295587

Bungle73

Scot_39 said:

Bungle73 said:

Ayr_Rage said:

You aren't the first and won't be the last but if you had watched the Martin Lewis Money Show any time over the last 5 years or so you would have been in the know.

Fixed rates can save you a lot of money but you always pay for what you use, they have never been "all you can eat" buffets.

I'm constantly amazed at the amount of people who come on here who don't appear to have seen or read a single thing Martin Lewis has said, even though this is HIS website! 

But its not his website.

He sold out his ownership over 10 years ago for £10s millions.

https://www.bbc.co.uk/news/business-18295587

Whose face is at the top of this page...................................?

Ayr_Rage

Bungle73 said:

Scot_39 said:

Bungle73 said:

Ayr_Rage said:

You aren't the first and won't be the last but if you had watched the Martin Lewis Money Show any time over the last 5 years or so you would have been in the know.

Fixed rates can save you a lot of money but you always pay for what you use, they have never been "all you can eat" buffets.

I'm constantly amazed at the amount of people who come on here who don't appear to have seen or read a single thing Martin Lewis has said, even though this is HIS website! 

But its not his website.

He sold out his ownership over 10 years ago for £10s millions.

https://www.bbc.co.uk/news/business-18295587

Whose face is at the top of this page...................................?

And what does it say next to his name, FOUNDER, not owner or any other association.

bagand96

I posted this on the other thread...... 

As you've found out your fixed energy tariff relates to the unit cost.  You pay for the amount of energy you use, this will vary, so monthly bills will vary.  The DD is a payment to the account and bills are deducted from the account.  The idea is your monthly DD is an average and will cover the annual use.

If your account is in debt then reducing the DD back down unfortunately is just kicking the can down the road.  the debt won't go away and the increased DD would be designed to pay off the debt as well as meet your energy costs in future.

It will be worth you taking some time to understand your use and bills.  Log in to your British Gas account.  Look at your bills to understand your use and the costs.  Check the bills are accurate.... are they based on actual meter reads or estimates?  Are you on a smart meter? 

Bungle73

Ayr_Rage said:

Bungle73 said:

Scot_39 said:

Bungle73 said:

Ayr_Rage said:

You aren't the first and won't be the last but if you had watched the Martin Lewis Money Show any time over the last 5 years or so you would have been in the know.

Fixed rates can save you a lot of money but you always pay for what you use, they have never been "all you can eat" buffets.

I'm constantly amazed at the amount of people who come on here who don't appear to have seen or read a single thing Martin Lewis has said, even though this is HIS website! 

But its not his website.

He sold out his ownership over 10 years ago for £10s millions.

https://www.bbc.co.uk/news/business-18295587

Whose face is at the top of this page...................................?

And what does it say next to his name, FOUNDER, not owner or any other association.

Is that so. Then why does he start every video with "Hello, I'm Martin Lewis of MoneySavingExpert.com"? And why is there a whole section entitled "Latest from Martin Lewis"?

GingerTim

Bungle73 said:

Ayr_Rage said:

Bungle73 said:

Scot_39 said:

Bungle73 said:

Ayr_Rage said:

You aren't the first and won't be the last but if you had watched the Martin Lewis Money Show any time over the last 5 years or so you would have been in the know.

Fixed rates can save you a lot of money but you always pay for what you use, they have never been "all you can eat" buffets.

I'm constantly amazed at the amount of people who come on here who don't appear to have seen or read a single thing Martin Lewis has said, even though this is HIS website! 

But its not his website.

He sold out his ownership over 10 years ago for £10s millions.

https://www.bbc.co.uk/news/business-18295587

Whose face is at the top of this page...................................?

And what does it say next to his name, FOUNDER, not owner or any other association.

Is that so. Then why does he start every video with "Hello, I'm Martin Lewis of MoneySavingExpert.com"? And why is there a whole section entitled "Latest from Martin Lewis"?

Because he contributes to the site, at least in name and image.

He hasn't had any ownership of the site since 2012 when he took home the best part of £100m after selling it to MoneySuperMarket. MSE is their site.

And hasn't been a director since 2020:

https://find-and-update.company-information.service.gov.uk/company/08021764