New British Gas Websaver 5 Launches
British Gas have just released version 5 of their popular websaver product which could cut your bills even futher.
The new British Gas websaver 5 product for electricity, gas or dual fuel contracts and is available for existing customers only. For average use customers this could cut your bill by over 20% in some areas of the country as compared against the average overall spend on energy by the average UK household.
The web saver 5 product is based on the British Gas standard tariff but provides a 6% discount and if you pay by monthly direct debit reduces your bills even further. And if you opt for the dual fuel tariff you’ll also receive an annual £15 discount.
This is a popular tariff to be on although it does tie you into both flexible pricing (ie: prices can move up or down depending on the wholesale prices in the market) and if you choose to switch before the end of the contract you’ll have to pay an exit penalty.
Key features of the websaver 5 tariff
Here are the key features of the new tariff with rates and estimated savings
- Flat 6% discount from the standard tariff
- Discount applies until end February 2011
- Cancellation charges apply if you cancel before June 2010
- Only available to existing customers for electric or gas only supplies
- Available to new customers on a dual fuel tariff
- Dual fuel customers also receive a £15 annual discount
- Additional reductions apply if you choose to pay via direct debit
Here are the following prices for this tariff based on average fuel consumption data as regulated by Ofcom and provided by British Gas.
- Electricity only – standard tariff £378 websaver 5 tariff £309
- Gas only – standard tariff £764 websaver 5 tariff £633
- Dual fuel- standard tariff £1127 websaver 5 tariff £928 less £15 annual discount
- Plus reduced further if you pay by direct debit
- Prices quoted from British Gas website for average yearly consumption
Should you choose websaver 5 from British Gas
Pros – this tariff is the cheapest that British Gas offer so if you don’t want to change your supplier and are happy with them or simply want to move over then this is something to consider. It’s now one of the cheapest tariffs in the market place and is on flexible pricing – so if you believe wholesale gas and electricity prices are going to stay stable and don’t want fixed pricing then get a quote and see what you could save.
Cons – as with all good promotional offers from the energy companies they want you to stay with them and not move so there is a cancellation charge of £30 if you move before June 2010 – a small price to pay. Additionally these are not fixed prices so could go up – or down – depending on what happens in the energy provision market.
Our view – get a quote for British Gas websaver 5 in your area of the country and consider this tariff by comparing it to your existing supplier and see if you can save money by switching from your provider or from your current British Gas tariff.