'Gas and electricity prices: more rises to come? Predictions...' blog discussion

magyar

Timmaa wrote: »

I suppose my selection of tariff depends on the predicted movement in combined utilities prices over the next 12 months. What's the general opinion on that?

Hi Timmaa, and welcome to MSE!

Even though oil prices have stablised, demand for gas and electricity has been dropping (due to the number of companies closing down). This is causing a steady but slow drop in wholesale prices. I would say that it's 'more likely than not' we'll see some small reductions in retail price.

I'm not convinced that fixing now (and paying 3.6% extra to do so) would be the wisest move for you, but it's more down to your personal view of risk. I can't say hand on heart that there won't be price increases, and if price certainty is important to you then go with the fix.

Personally, though - I wouldn't.

Timmaa

Hi magyar,

Apologies, I should really have introduced myself properly!

Thanks for taking the time to reply!

I've been searching for resources on the web that could help in forming an opinion with respect to the way that utilities prices may change in the next 12 month with little success. Does anyone have any links? Any other opinions?

Cheers

timbob60

Since I capped my dual fuel prices there have been No increases in costs only decreases.Therefore I feel as I,m being cheated by paying more than necessary. I succumbed to all the hype at the time from MSE:money:albeit later than most but no-one was saying don,t do it.
I have a £70 bail out fee could MSE tell me if this is on one fuel or both (I am with british Gas.
Is there any room for negotiation with the threat to change supplier?
Finally, will MSE inform people like me when it is the best time to swallow the bitter pill and pay up to transfer,therefore saving money?

Timbob60

StevieJ

Any idea on gas prices for the next twelve months, I note that oil prices are 50% of what they were last year and gas prices are probably about 15%, what drives domestic gas prices?

danny_x

Can anybody guess what the forecast is for gas prices over the next winter, or even over the next 12 months?

We're on an Eon dual fuel fixed tariff which is due to expire in a few months. My wife has calculated that we could save c.£100 by moving onto their latest capped rate, even after the penalty for moving early, but of course it will all depend on what happens to gas prices after our cap ends.

Thanks for any help.