British Gas fix and fall rate

franstanley

Hi everyone sorry if this has been covered already: I have been reading the forum for a couple of hours just in case and am now panicking that I will lose my chance to change.

I am currently on British Gas fix and fall rate (fixed until Dec 2008) for both gas and electric and when using the comparison site it says that I will have to pay 19% more approx £277 to cap. I was just going to chance this until I heard here that there might be another 20% hike in Dec.

I know that no one out there has a crystal ball but can anyone tell me if the prices go up 20% now and another 20% in Dec will my supplier be allowed to put my prices up 40% in Jan or am I just gambling the 20% in Dec if it happens.

Any advice/ opionions on this would be gratefully as I am semi retired and wondering if I should start looking for work now to pay the gas and electric