Bord Gais level pay

Ciarrai76

I’m looking to switch providers this week as my contract ends with Energia. I’ve noticed Bord Gais has the best rates via Bonkers.ie, but it says it’s a level pay contract. Would people recommend this? Our bills have been getting quite high with Energia so it seems good, but is there a catch?

limnam

Why would you think there's a catch?

L1011

You need to make sure your readings are accurate / submitted if not being read and that the level pay amount is not ending up hugely in debt or credit - it would be normal to be in debt in winter and credit in summer though. That's about it. I've used it before, ended up in credit when I left. Prefer to pay the actual amount at the time but if you need to budget it could be useful.

Ciarrai76

limnam wrote: »

Why would you think there's a catch?

I asked is there a catch as I want to make sure theres not going to be some sort of extra payment at the end of it. I am asking here so I know for sure if it’s recommended! :rolleyes:

limnam

L1011 wrote: »

You need to make sure your readings are accurate / submitted if not being read and that the level pay amount is not ending up hugely in debt or credit - it would be normal to be in debt in winter and credit in summer though. That's about it. I've used it before, ended up in credit when I left. Prefer to pay the actual amount at the time but if you need to budget it could be useful.

They re-adjust it now if you're consistently paying too much/little

Ciarrai76

L1011 wrote: »

You need to make sure your readings are accurate / submitted if not being read and that the level pay amount is not ending up hugely in debt or credit - it would be normal to be in debt in winter and credit in summer though. That's about it. I've used it before, ended up in credit when I left. Prefer to pay the actual amount at the time but if you need to budget it could be useful.

Thanks. I usually always submit a reading. It appeals to me regarding budgeting as our bills are getting too high & starting to worry me before they arrive! Tempted to try this.

limnam

Ciarrai76 wrote: »

I asked is there a catch as I want to make sure theres not going to be some sort of extra payment at the end of it. I am asking here so I know for sure if it’s recommended! :rolleyes:

Ok but you're not buying electricity from a few lads on a street corner


There would be no point in them trying to "catch" you out.



The only "catch" is you might pay more than you use in some months but in general it should level out

whelan2

They review the amount you pay every 4 months. I submit a meter reading every 2 months about a week before the bill is due.

OldMrBrennan83

limnam wrote: »

Why would you think there's a catch?

With any provider of anything there's usually a catch.

L1011

Ciarrai76 wrote: »

Thanks. I usually always submit a reading. It appeals to me regarding budgeting as our bills are getting too high & starting to worry me before they arrive! Tempted to try this.

Effectively you end up paying for more than you use in the summer - particularly if you have gas or electric heating and an older house - and less in the winter. I think some of the other operators offer it too, but Bord Gais really heavily push it. That's it, nothing else to it.

limnam

Patww79 wrote: »

With any provider of anything there's usually a catch.

They're not banks :pac:

Ciarrai76

limnam wrote: »

Ok but you're not buying electricity from a few lads on a street corner


There would be no point in them trying to "catch" you out.



The only "catch" is you might pay more than you use in some months but in general it should level out

Ok, thanks. Wasn’t sure hence asking here if any ‘catch’! Other replies much more helpful!

L1011

limnam wrote: »

They're not banks :pac:

There are energy suppliers in this market with extremely devious sales tactics so it's a valid query.

Ciarrai76

L1011 wrote: »

There are energy suppliers in this market with extremely devious sales tactics so it's a valid query.

Thank you!

judeboy101

You are giving them an interest free loan as they tend to build in a premium on the level
pay

limnam

judeboy101 wrote: »

You are giving them an interest free loan as they tend to build in a premium on the level
pay

They normally base the starting point as an average of your previous bills or a similar house if you've no history.


This is adjusted every few months if you're paying too much/little.


So in the months you're using more than you're your paying, you're getting an "interest free loan" and vice versa in summer months.


That "catch" is the whole point of level pay

L1011

judeboy101 wrote: »

You are giving them an interest free loan as they tend to build in a premium on the level
pay

If you start your contract term in Summer.

They are giving you an interest-free loan in Winter

judeboy101

limnam wrote: »

They normally base the starting point as an average of your previous bills or a similar house if you've no history.


This is adjusted every few months if you're paying too much/little.


So in the months you're using more than you're your paying, you're getting an "interest free loan" and vice versa in summer months.


That "catch" is the whole point of level pay

Except they even in summer they charge you slightly more to cover extrenums. And they are none too quick giving u back an overspend if you decide to leave.

L1011

You ask for it, its EFTed back immediately.

Hurrache

Ciarrai76 wrote: »

but is there a catch?

If you haven't been with them the previous year or two they'll take a guess at what your yearly bills will be spread over a month. I personally believe they may slightly underestimate this so as it appears you're getting lower bills. Then after a few they'll adjust your monthly bill. It's in the small print but it'll still catch you out if not expecting it.

Despite us using a tiny bit of gas over the summer because of the weather we had, ours was adjusted upwards for the last few months of the contract, and our meter is read regularly enough.

whelan2

When I joined them first they said 150 per month. I'm a dairy farmer and knew it should be 2 or 3 times that. Rather than get caught out we set it at 350, it's now 430 per month. Reviewed every 4 months. You can also make one off payments

zell12

Ciarrai76 wrote: »

I’m looking to switch providers this week as my contract ends with Energia. I’ve noticed Bord Gais has the best rates via Bonkers.ie, but it says it’s a level pay contract. Would people recommend this? Our bills have been getting quite high with Energia so it seems good, but is there a catch?

You should also check www.switcher.ie
Do the calculations yourself.

Ciarrai76

Does Bord Gais insist on this level pay or can you just do the normal way of paying by dd? I’m not sure if it will be of much benefit to us. We would be switching from Energia, and our bills have been getting quite high with them. I know they are all after increasing their rates but Bird Gais does seem to have the lowest from what I can see.

Our high bills aren’t helped by our old appliances which are probably not energy efficient. Ideally we would like to get better ones, but not an option for now.

L1011

The rate you're seeing will only be available on level pay; their normal post-pay rates are significantly higher.

zell12

Ciarrai76 wrote: »

Does Bord Gais insist on this level pay or can you just do the normal way of paying by dd? I’m not sure if it will be of much benefit to us. ..

Why don't give us some basics
Nightsaver/none
Kwh usage per annum

Ciarrai76

L1011 wrote: »

The rate you're seeing will only be available on level pay; their normal post-pay rates are significantly higher.

I was thinking that!

dubrov

Ciarrai76 wrote: »

Does Bord Gais insist on this level pay or can you just do the normal way of paying by dd? I’m not sure if it will be of much benefit to us. We would be switching from Energia, and our bills have been getting quite high with them. I know they are all after increasing their rates but Bird Gais does seem to have the lowest from what I can see.

Our high bills aren’t helped by our old appliances which are probably not energy efficient. Ideally we would like to get better ones, but not an option for now.

The main reason why they offer level pay is because they can debit your account much more quickly *i.e. on the day the billing period ends). With post-pay, they would have to wait 2 weeks after issuing an invoice before collecting payment.

I've also found their "estimates" are consistently about 10% above the actual reality. You get it all back at the end of the year but you end up effectively lending the difference to them for the period at 0%.

lawred2

judeboy101 wrote: »

You are giving them an interest free loan as they tend to build in a premium on the level
pay

this

we're about 600 quid up with BG

The Mulk

I'm using it at the moment, switched from energia for both gas and electric.

I'm still in credit for my gas,(you can check your bills/account on line) after the summer and mild winter so far, so it seems to be accurate.

Handy for us as it' s DD every month, paperless billing etc. I'll review it after a year, see who has the best rates, but nice to know I won't get a large bill early next year

Fol20

I’m with energia at the moment. Do they stop whatever promotion they give you after a year so you just revert back to their base package?

The Mulk

Fol20 wrote: »

I’m with energia at the moment. Do they stop whatever promotion they give you after a year so you just revert back to their base package?

yeah, you're on a 'new customer' rate. I rang them and they gave me an offer, not as good as the one i was on so I shopped around.