British Gas offering fixed period

elsiepatricia

British Gas are offering to fix my gas and electricity price until 2007 as long as I pay a "small additional premium" of an average of 3% on the current cost per kWh - as gas and electricity prices rise yearly does anyone suspect this is a good deal

chateau42

I am trying not to be negative. Never known BG to give a good deal. ;D But if BG are charging 3% extra/kw on their present high prices, fixed for what seems 3 years, sounds interesting, simple 1% per year increase, unbelievable.

One test, check your actual consumption using a comparison company, see who is cheapest, take the BG total, increase by 3% and that is an answer. Not the only answer, but a possible answer. All depends upon future price movements, but they rarely go down

BG details need to be checked very carefully. They give nothing away. I would be very suspicious of a 1% increase per year.

djohn2002uk

Don't forget that 2004 is almost gone, and 2007 could mean Jan1st 2007 so only just over 2 yrs or 1.5%/year.
I found Scottish Power to be the cheapest capped price, capped untill 2006 (Jan1st). Will cost me £5.40/month less than Staywarm.

chateau42

Yes, OK, point noted. Still low inflation on high starting price.
We on Staywarm, but on actual consumption, others cheaper. Just like fixed price til Nov, 2005, for us, and unlimited consumption!!so far!! Am not an advert for BG (or BT) or Staywarm ;D ;D, just best deal for us all. Hope this site and our contributions are some help. ::)
To reiterate, your own actual annual consumption x cost per kw is the fact, despite sales talk, estimates and con salespersons!! ;D ;D

loon_2

dj2oo2.... you need to check your contract, as scottish power do not offer a fixed price tariff, merely a fixed unit rate tariff. as they charge a 'price protection payment' of 6.5p product/day, which is subject to increase (as it did in sept 04 by 30%) your prices are not capped.

ironically, by going onto capped and paying the fee, you are agreeing to increases on your capped prices.

Fuzzy_2

I was also going to ask about this one. What concerns me that they also state if you switch supplier during that time they will impose a £20 fee for gas supply and £30 for the electricity!!

£50 is a big price to pay to switch, and I shall be moving supplier before they start this malarchy!