Collective Energy Tariffs

Ekajdog494411

Hi everyone

I am new to the forum.

Just wondering if anyone has the British Gas Collective Tariff Feb27.

Does anyone know if there will be another collective when it ends because the cost of gas and electric will be sky high by February 2027.

QrizB

Welcome to the forum!

Does anyone know if there will be another collective when it ends …

That's six months away and I don't think anyone would like to guess what special tariffs might be on offer then.

… because the cost of gas and electric will be sky high by February 2027.

It's not exactly cheap now. In your shoes I'd be congratulating myself on my foresight in fixing my tariff back in February 2026, before The Orange Menace started his war.

molerat

I fixed my daughter in March on a 14 month deal, current cheapest for her at the moment is +£560 through MSE, cheapest with her supplier is +£770 😮 I wish I had jumped ship and paid the £100 exit fee now, would have been quids in this winter 😥

Ekajdog494411

Thanks for the comments, just trying to get a heads up for what it might cost next year.

Hopefully Martin can work his magic again and get a good deal (Fingers crossed).

bristolleedsfan

https://forums.moneysavingexpert.com/discussion/comment/82124960#Comment_82124960

Other comparison sites also offer collective tariffs from time to time.

Dr_Hu

https://forums.moneysavingexpert.com/discussion/6682017/collective-energy-tariffs

Hi Ekajdog,

I also have the BG Collective Feb27 - which runs out on the 6th Feb - and with the cap rate rise incoming now, and talk of a 20% rise in Jan😐️ I too am wondering what to do - should I stick with my cheap(er!) energy for now until Feb then take the sharp increase in pain, or jump now for the whole of the winter period.

This BG Collective was very popular on the Forum, so there must be a lot of people in the same boat…

Interested in everyone's thoughts!

merchcon55

I will assume that there are early exit fees if you were to leave now (5 months before end of your fix). However, it is possible (each company has their own policy), that if you were to switch to another BG fix, that BG would waive the exit fee.

Assuming they would waive the fee, then what you need to consider is this:

Estimate what you will use in Gas and Electricity from mid Septemer to end February.

Calculate what that usage would cost on your existing (cheaper) Feb 27 deal, and what cost would be on the dearer new deal (unfortunately it is going to be higher). This will be your "costs more" figure if you change.

Then estimate what your usage would be from March to mid-Sep next year (I am assuming a 1 year fix).

Use the new fix rate you would get from BG to estimate cost for that 6 1/2 month period.

Now here is where you need to take an "educated guess" - what would a new fix rate deal be in March? Right now the predictions would be +20%. So add 20% to your estimate for the 6 1/2 month period. This will be your "costs less" figure if you change.

You now compare the "costs more " figure vs the "costs less" figure to determine your overall savings or increase in cost over the next 12 months

Because you are roughly 1/2 way through your existing deal, you may find that the cost savings (and I think there would be some savings to change when looking at a 12 month period) may not be all that much.

Of course if rates go up 40% (and no one says that can't happen) you will be much better off changing now.

If by some miracle, we get a combination of a mild winter and the war ending and free flow of oil and gas, then perhaps you would be a bit worse off if you change.

IN OTHER WORDS - there is a lot of guesswork, and a calculated risk.

For what it's worth - my own view: I think things are going to get worse before they get better. I am fortunate to have a 2 year fix which covered me for last winter and will cover me for all of the upcoming winter. However, I am judging that my gas will easily double come May 2026 and that next winter is going to cost me a small fortune - oh the joy !

HTH