Should I fix or stay put?

Gareth56

I never thought I'd hear myself saying that I may swop to British Gas but their Fix until 2011 does sound attractive. I'm currently with EDF on their Online V5 tariff and BG have quoted me the following (with vat) prices.

Gas
1st 670kWh @ 7.563p
Rest @ 3.814p

Electricity
1st 125kWh @ 26.909p (wow!!)
Rest @ 11.804p

Looking at those prices is it worth risking swopping to BG? Are gas & electricity prices likely to drop over the next 3 years? Any advice would be greatly appriciated.

Rusty_2

I personally would stay with EDF until most of the other suppliers have put up their prices (over the next month or two) and brought out new fixed deals so you can compare. I guess your current EDF prices are cheaper than the BG fixed tariff? Also consider whether fixing is now the right way forward - no one can predict where prices may be in 3 years so by fixing or not fixing you are taking a gamble! The difference is if you fix you can budget for the future, but if prices go down or stay the same you end up paying more.

I was very lucky and fixed with Scottish Power in May until 2011 (now discontinued).

Gas 4.19p for first 1143kwh/qtr, then 2.69p

Elec 17.31p for first 225kwh/qtr, then 9.48p

in East Midlands region. I took the gamble and it paid off!