British Gas announced a price increase for its Standard Variable Tariff on 19 February 2019. With effect from 1 April 2019 energy bills have increased by £119. The latest prices have already been updated on our website. To avoid the increase we recommend you compare and switch now. Do it soon. Remember it takes 21 days to complete your switch and every day you delay is costing you.
This is the Standard variable tariff from British Gas.
This tariff is no longer available to new customers. British Gas withdrew the tariff from sale from 1 April 2018, under some pressure from politicians over “rip-off” energy prices; essentially because Standard Variable tariffs were typically an energy supplier’s most expensive tariff.
Data from Ofgem, the GB gas and electricity regulator, estimates that, as of July 2018, British Gas had a total of 3.9 million customers, representing some 63% of its customer base on this tariff. So while it has been scrapped for new customers there are still a lot of customers on it. And while the number is gradually falling as British Gas moves customers off of this tariff due to the implementation of an energy price cap later in 2018, it will likely stay in the millions for many years to come.
If you are on this tariff, you need to hear the bad news. You are paying too much for your energy. Way, way, way, way, way toooo much! But you probably already knew that right?
A dual fuel customer with average energy usage is paying £300 a year over the odds for something as basic as energy. That is the amount you can save each year by switching to a cheaper tariff with another energy supplier. Across 4 million dual fuel customer accounts that means British Gas customers are needlessly wasting around £1.2 billion pounds a year. Shocking but true.
So if you are still on this tariff, do yourself a big favour and get yourself onto a cheaper deal.
There are 2 basic ways to do this.
For the biggest potential saving do a price comparison against other suppliers and tariffs in the market. You can do this below.
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Or, if you are wedded to British Gas and want to stay with them, they have a number of better value tariffs you can move too. Probably not the cheapest option but certainly cheaper than staying on British Gas’ Standard Variable Rate.
You can check other tariffs from British Gas here…
Key Features of this tariff
Key features of the Standard (Variable) tariff include
– This is a Variable rate tariff which means that your energy prices may go up or down. Prices are subject to change on 30 days advance notice. A record of the last 7 price changes is shown below.
– You can opt for either paper or online billing – it does not affect the price that you pay.
– The tariff is available for customers taking gas only, electricity only or dual fuel.
– Payment options include Monthly Direct Debit, Quarterly Variable Direct Debit and Cash / Cheque quarterly on receipt of your bill.
– This tariff is also available to customers with prepayment meters (where the tariff name is Pay As You Go Energy)
– There are no early termination fees with this tariff
– British Gas is signed up to the Warm Home Discount Scheme.
– British Gas is signed up to the Energy Switch Guarantee.
Other things worth knowing
Before 1 April 2018, this is the tariff that you would have ended up on if you do not switch when your old British Gas tariff expired. From 1 April 2018 British Gas have introduced a new range of tariffs which they are moving customers onto. These tariffs, called Temporary …….”, are also variable rate tariffs with no exit penalty but with a fixed end date. They are cheaper than the Standard Variable rate although not by much (roughly 4-5% cheaper which works out at a £50 discount for a typical dual fuel household). You can find out more about British Gas’ Temporary tariffs here.
History of Price Changes
The last 7 price changes (in reverse order) are detailed below.
|Date Announced||Effective Date||New Annual Dual Fuel Bill (£)||Change||Comment|
|19 Feb 2019||1 Apr 2019||£1,254||£119 increase||This is the level under the Energy Price Cap which runs from 1 Apr 2019 to 30 Sep 2019. Comparisons are showing the new 1 April 2019 rates.|
|6 Sep 2018||1 Jan 2019||£1,135||£70 cut||This is the opening level of the Energy Price Cap|
|8 Aug 2018||1 Oct 2018||£1,205||£44 increase||Both gas and electricity prices increased. Overall increase 3.8%.|
|10 Apr 2018||29 May 2018||£1,161||£60 increase||Both gas and electricity prices increased|
|1 Aug 2017||15 Sep 2017||£1,101||£76 increase||12.5% increase in electricity prices. Gas prices unchanged.|
|11 Feb 2016||16 Mar 2016||£1,025||£31 cut||5.1% cut to gas prices. Electricity prices unchanged.|
|15 Jul 2017||27 Aug 2015||£1,055||£24 cut||5% cut to gas prices. Electricity prices unchanged.|
Annual bills are based upon a dual fuel customer paying by Monthly Direct Debit with average annual usage; 12,000 kWh for gas and 3,100 kWh for electricity.