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British Gas offers eight fixed energy tariffs – how they compare to the price cap | Personal Finance | Finance
Before committing to the price cap, Britons are urged to consider all energy deals to find if there may be any cheaper alternatives.
British Gas currently has eight fixed tariffs on offer, with four available to new and existing customers.
Almost every household is currently on a standard tariff with prices dictated by the Energy Price Cap. For a typical household paying by direct debit, it’s currently set at £1,834 a year.
It should be noted that the Cap is not a cap on how much one will pay as it only limits standing charges and gas and electricity unit rates.
As rates could prove much higher, Britons can consider fixed energy deals for consistent energy bills.
British Gas offers the Fixed Oct24 v2′ and ‘The Fixed One v25’. These tariffs are for one year with customers paying an average of £1,953 and an exit fee of £75/fuel.
Its two-year fix is slightly higher at £1,975, with an exit fee of £100/fuel, and both one and two-year fixes are available to new customers.
Until recently, none of the fixed-rate deals on the market would have saved households much money so it was unwise to lock in. However, now a handful of energy companies are offering more attractive options.
If people lock into a fixed tariff, the price they pay per unit of power will remain the same for the full term of the deal — usually one or two years.
But if people rely on the price cap, their price per unit will change every three months, causing a lot of uncertainty about future bills.
Last week there were around 22 fixed deals from ten suppliers, according to price comparison website Uswitch.
However, just two beat Ofgem’s energy price cap and allow people to lock in at a lower rate: Octopus Energy’s Loyal Octopus 12-month Fixed and the Fixed Saver 7 from Utility Warehouse.
Octopus Energy’s fixed tariff costs average households £1,818 — a £16 annual saving on the current price cap. It’s only available to existing customers.
Utility Warehouse’s fixed deal costs an average of £1,775 a year, which shaves £59 off a customer’s bills compared to the current energy price cap.
However, in order to get these deals, households have to sign up for other utilities with the company.
EDF offers a slightly better deal with an average customer paying £1,914 for both a one-year and three-year fix. This is available for new and existing customers.
It says the three-year fix ‘offers certainty and protects against rising costs over that period.’
Shell Energy is offering fixed deals for both new and existing customers with a fix until January 2025 for £1,944.
It should be noted that fixed tariffs tend to charge exit fees if someone chooses to leave the contract. This could cost people up to £200 per fuel, depending on the supplier and how long the contract is.
For more information, people can visit U-Switch to find out about fixed deals available to them and if it will be worth it for their situation.
Honda is recalling more than 8,00,000 vehicles in the US because rear suspension components may fail and cause drivers to lose control, increasing the chances of a crash or injury.
American Honda Motor Co said the recall covers certain 2016-2022 Honda Pilot, 2017-2023 Ridgeline, 2019-2023 Passport and 2014-2020 Acura MDX vehicles. The recall includes 880,514 vehicles that were sold in Connecticut, Delaware, District of Columbia, Illinois, Indiana, Iowa, Kentucky, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Vermont, Virginia, West Virginia, or Wisconsin.
The problem centres around the rear subframe, which can corrode at suspension mounting points and cause the rear suspension to fail. Honda estimates that just 1 per cent of the vehicles listed have the defect.
Honda has had no warranty claims and no reports of an injury or death related to the problem.
As a remedy, Honda and Acura dealers will inspect the rear subframe and install a reinforcement kit if necessary, or repair or replace the rear subframe components at no cost to vehicle owners.
Owner notification letters are expected to be mailed July 7.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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American financial services company Fidelity Investments on Wednesday divested a 1.3 per cent stake in e-commerce firm Meesho for Rs 988 crore through open market transactions.
Fidelity Investments, through its two affiliates, FID FDI 2117 LLC and FID FDI 312 LLC, offloaded a total of 5,98,16,300 shares representing a 1.31 per cent stake in the Bengaluru-based e-commerce firm, according to the bulk deal data available on the National Stock Exchange (NSE).
The shares were sold in the price range of Rs 165.18-165.21 apiece, taking the combined transaction value to Rs 988.15 crore.
At the end of the March quarter, FID FDI 312 LLC owned a 1.13 per cent stake in Meesho, as per shareholding data available on the BSE.
Details of the buyers of Meesho’s shares could not be ascertained on the exchange.
Shares of Meesho fell marginally to close at Rs 166.16 apiece on the NSE.
Last month, Meesho said its consolidated net loss narrowed to Rs 166.34 crore for the fourth quarter ended March 31.
The company had posted a net loss of Rs 1,391.38 crore in the corresponding quarter of the previous financial year, according to a regulatory filing.
ALSO READ | Meesho Q4 Results: Net Loss Narrows 88% As Revenue Tops Rs 3,500 Crore
Its consolidated revenue from operations for the quarter under review increased 47.13 per cent to Rs 3,531.21 crore compared to Rs 2,399.97 crore in the year-ago period, the company added.
During the same month, Meesho announced that its board has approved an investment of up to Rs 100 crore in its subsidiary Meesho Payments Pvt Ltd.
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The Reserve Bank of India (RBI) on Wednesday said it has cancelled the certificate of registration of 135 non-banking finance companies.
These include companies such as Express Fincap House, Akshay Fiscal Services, Times Finance (P), Jupiter Projects (P), Jupiter Finvest, Essel Finance Business Loans, and Citiwide Financial Services.
The majority of the NBFCs, whose certificates of registration were cancelled, had a registered office address in West Bengal, an RBI release showed.
Separately, 13 non-banking finance companies have surrendered their certificates of registration to the central bank due to exiting the business or ceasing to be legal entities following amalgamation/merger/dissolution/voluntary strike.
J. Thomas Finance, Econ-Super Sales, Hitesha Finance and Investment, Tinnevelly Tuticorin Investments, Carnex Vinimay, and Impact Leasing surrendered their licences due to exit from Non-Banking Financial Institution (NBFI) business, the release said.
Further, Forerunner Capital Investments’ licence was surrendered due to meeting the criteria prescribed for unregistered Core Investment Company (CIC) that do not require registration.
NBFCs such as Caspian Impact Investments, Hari Darshan Sales, Ivory Consultants, SKA Consultancy Services, Trishita Management, and Suban Trades surrendered their licence due to the NBFC ceasing to be a legal entity due to amalgamation/ merger/dissolution/ voluntary strike-off, etc, the release added.
ALSO READ: Let’s Rethink Risk-Free Assets | The Reason Why
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