British Gas to increase electricity prices by 12.5% in Sept

redfox
redfox Posts: 15,338 Forumite
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in Energy
It's just been announced that British Gas are to increase electricity prices by 12.5% in September.

http://www.bbc.co.uk/news/business-40787555
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  • hubb
    hubb Posts: 2,482 Forumite
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    I am with them via Martin's collective deal until October. Does this mean I will be exempt from the increase in September?
  • dazzaofdagenham
    dazzaofdagenham Posts: 1,512 Forumite
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    I'm with the collective fix until October ......time to start looking elsewhere for a deal
  • System
    System Posts: 178,093 Community Admin
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    edited 1 August 2017 at 10:13AM
    hubb wrote: »
    I am with them via Martin's collective deal until October. Does this mean I will be exempt from the increase in September?

    Yes - price increases only apply to a supplier's standard variable tariff. You will remain on your present tariff terms until the end of your contract. If you do nothing at that point (that is; you fail to agree another fixed deal with BG or switch to a new supplier) then your supply will move on to BG's standard variable tariff. Remember, you can initiate a switch without penalty once BG notifies you that your contract is coming to an end ( in the period 49 to 42 days before contract end date).
  • worldtraveller
    worldtraveller Posts: 14,012 Forumite
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    edited 1 August 2017 at 12:06PM
    Well, someone's going to have to pay for the groups massive deficit in their defined benefit pension scheme's, which increased by over £1 billion last year.

    Total liabilities were up 34% from £6.8 billion at the end of 2015 to £9.1 billion on 31 December 2016.
    There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...
  • boatman
    boatman Posts: 4,699 Forumite
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    They said this is nothing to do with the price of electricity.
    Just profiteering then??
  • bob_bank_spanker
    bob_bank_spanker Posts: 559 Forumite
    boatman wrote: »
    They said this is nothing to do with the price of electricity.
    Just profiteering then??
    Post #5 - people aren't dying quickly enough.
  • zagfles
    zagfles Posts: 20,323 Forumite
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    Hengus wrote: »
    Yes - price increases only apply to a supplier's standard variable tariff. You will remain on your present tariff terms until the end of your contract. If you do nothing at that point (that is; you fail to agree another fixed deal with BG or switch to a new supplier) then your supply will move on to BG's standard variable tariff. Remember, you can initiate a switch without penalty once BG notifies you that your contract is coming to an end ( in the period 49 to 42 days before contract end date).
    Does that apply generally to all energy suppliers? I've got a deal which ends on 30 Sept and it says there's a penalty if I switch before 30 Sept.
  • bob_bank_spanker
    bob_bank_spanker Posts: 559 Forumite
    zagfles wrote: »
    Does that apply generally to all energy suppliers? I've got a deal which ends on 30 Sept and it says there's a penalty if I switch before 30 Sept.
    Yes - the 42-49 day notification and penalty free switching window is statutory, and not particular to BG


    https://www.ofgem.gov.uk/press-releases/tougher-rules-fixed-term-energy-deals-come-force-ofgem%E2%80%99s-retail-market-reforms-begin-bite
  • RobLW
    RobLW Posts: 1 Newbie
    Yep, a-buh-bye British Gas. 3.1 million customers will plummet once again.

    :money:
  • ariba10
    ariba10 Posts: 5,432 Forumite
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    The rest of the suppliers won't be far behind!
    I used to be indecisive but now I am not sure.
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