British Gas fixed prices to 2012
Posted by: Ewan Aye on 03 October 2008
We've been offered a fixed price for fuel until 2012, for a premium of 7.5% over their current standard rates for gas & electricity. It seems like a good deal but am wondering if I'm missing something.
Any views?
Any views?
Posted on: 03 October 2008 by Bob McC
they wouldn't offer it if they weren't certain they'd make money out of you.
Shortly after Black Wednesday when interest rates hit 15% I fixed for 10 years at 10%. Thought it was the right thing at the time. I've never tried to second guess the cost of anything since.
Shortly after Black Wednesday when interest rates hit 15% I fixed for 10 years at 10%. Thought it was the right thing at the time. I've never tried to second guess the cost of anything since.
Posted on: 04 October 2008 by JamieWednesday
The price of oil which was around $147 at it's peak a couple of months back has been hovering around $90 to $110 for the last few weeks. It is expected to do something similar for some time yet. Check out the current levels of 'stockpiles'. Oil impacts on wholesale gas prices. If wholesale gas prices fall further, the power firms will struggle to keep retail energy prices as high as they are now, let alone charge an extra 7.5%...
But who knows for sure..? You may be paying extra for peace of mind. That's the cost of it.
But who knows for sure..? You may be paying extra for peace of mind. That's the cost of it.
Posted on: 05 October 2008 by Stuart M
Note how they announced this after putting up there prices. I fixed with Scottish power only till 2009 but just before there 35% increase ;-)
I know only until 2009 but oil prices are dropping and also the credit crunch will reduce demand.
But the BG offer could be worth it if you think prices will rise but ensure you check out the small print for an escape clause. E.g. How much will it cost to switch to non fixed or move to another supplier.
I know only until 2009 but oil prices are dropping and also the credit crunch will reduce demand.
But the BG offer could be worth it if you think prices will rise but ensure you check out the small print for an escape clause. E.g. How much will it cost to switch to non fixed or move to another supplier.
Posted on: 06 October 2008 by Ewan Aye
Thanks guys. You've made my mind up to ignore it and just keep shopping around.
Posted on: 06 October 2008 by hungryhalibut
The best thing to do is turn the thermostat down a degree or two, which should easily save 10% or more on the bill. You may need a thicker jumper though!!
We moved to E.On and saved quite a lot, so they might be worth looking at.
Nigel
We moved to E.On and saved quite a lot, so they might be worth looking at.
Nigel