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Fixed Pricing?

Scottish Gas have sent us a letter recommending that we pay a fixed price for our gas and electricity until 2011, thereby ensuring that we will have no further rises in that time.
If prices fall we will still be paying the fixed price with no rebate.
What is the sensible thing to do? What does Scottish Gas get out of it? What are the chances of prices coming down?
Any ideas will be welcome!
Thanks.

MrsER Wed 27/08/08 13:09

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Mortartube
Wed 27/08/08
14:13

I can't advise you what to do. but if you sign to fix your prices until 2011 with them, the chances are that you will remain their customer until then, so they get 3 years of assured business from you and you don't go elsewhere.

They may make a bit less from you if wholesale prices increase further but they are unlikely to lose your custom until 2011. That's what they get from it.

Ethel
Wed 27/08/08
14:15

Before you do anything, use a comparison site such as Uswitch to see if you can get a better deal elsewhere.

I fixed mine some months ago, but I can leave at any time without penalty.

MrsER
Wed 27/08/08
15:44

Question Author

We have to pay a penalty of £70 if we move.

heathfield
Thurs 28/08/08
17:42

Before you look up price comparison sites, there's some pretty sound advice on the subject here.

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