If gas and electric prices DO come down...

Joyful

Anyone who has taken a gamble and fixed should think of it like a Mortgage ( and yes it does sometimes feel like one:rolleyes:).It gives you security in an uncertain world. Many people fixed Mortgages for the security and now find those on Trackers have their rates reduced. But people have to remember their rates would increase if the Base rate rose. The difference is a Mortgage would cost you thousands to get out of compared to a few pounds for security of Energy prices. As the Energy is bought by Companies many months in advance when prices were higher why should we expect an immediate reduction in price? They are businesses not charities! Next time they buy it should be cheaper if things continue downwards so that's when we should expect change. In the meantime people have security in knowing how much they are paying if they have fixed.

I fixed my prices a few years ago and paid higher than the standard tariff at that time. If I was to go onto the standard rate today I would see a 65% increase so these Fixes should be looked at as long term security.

Totality

Interesting way of looking at it. But with the economy in the shape it is and Brown hinting at putting some pressure on thee big companies, I'm a little concerned that a drop in price will come and will remain in place for a couple of years.

I guess its a case of wait and see!

1carminestocky

Joyful wrote: »

Anyone who has taken a gamble and fixed should think of it like a Mortgage ( and yes it does sometimes feel like one:rolleyes:).It gives you security in an uncertain world. Many people fixed Mortgages for the security and now find those on Trackers have their rates reduced. But people have to remember their rates would increase if the Base rate rose. The difference is a Mortgage would cost you thousands to get out of compared to a few pounds for security of Energy prices. As the Energy is bought by Companies many months in advance when prices were higher why should we expect an immediate reduction in price? They are businesses not charities! Next time they buy it should be cheaper if things continue downwards so that's when we should expect change. In the meantime people have security in knowing how much they are paying if they have fixed.

I fixed my prices a few years ago and paid higher than the standard tariff at that time. If I was to go onto the standard rate today I would see a 65% increase so these Fixes should be looked at as long term security.

I'm assuming you are of the opinion that a company like British Gas, for example, is STILL wholly right to have a banner ad for its 2012 fixed deal displayed more prominently on its home page than any other tariff? Yes or no...

Joyful

All they are doing is promoting their latest Tariff which they are currently advertising everywhere else so of course it will be more prominent on their own website. As always it is up to the customer to check further. It is a very easy website to check all tariffs from.

Plushchris

Totality wrote: »

Ugh, thought that may well be the case.

I capped after Martin was doing the "CAP, CAP, CAP" thing a while back. Bit gutted if prices are to come down, even though by 2011 I'm sure I'd have made it back.

I think Martin should have made the difference between capped and fixed tariffs a lot clearer when he was jumping up and down on TV.

What I would say is, if you signed up to a fixed rate when Martin first said about it then you *should* be ok, If prices do drop next year they arent likely to drop by anywhere near as much as they went up by in August/September.

So you got onto a fix in July, prices went up 30%ish in August/September if prices drop at all it wont be 30% so you are still ok unless prices continue to drop. (you may not be on the cheapest tariff available but then thats not what you signed up for with a fixed tariff anyway)

1carminestocky

Joyful wrote: »

All they are doing is promoting their latest Tariff which they are currently advertising everywhere else so of course it will be more prominent on their own website. As always it is up to the customer to check further. It is a very easy website to check all tariffs from.

I'm sorry but I have to ask - do you work for British Gas?

Totality

Plushchris wrote: »

I think Martin should have made the difference between capped and fixed tariffs a lot clearer when he was jumping up and down on TV.

I'd agree with that and to be honest with the stuff written on here as well, it was the reason I switched.

Ultimately though, it was my decision so I can't really put the blame on Martin if I'm out of pocket.

Joyful

1carminestocky wrote: »

I'm sorry but I have to ask - do you work for British Gas?

Yes -I've never hidden that point. What I quoted above would refer to any company advertising a recent product. Whether I agree or not with the latest fixed price from any company I would always hope I can use my brain to think independently.I often advise people about the tariffs but also advise them to go onto the web sites and check the click rates. I then advise them to decide for themselves.

space_rider

I fixed with Eon back in Feb and if prices do go down it will go to the standard tariff price. I would simply then move to the energyonline or whichever is the cheapest and wouldn`t be charged to do so.

1carminestocky

Joyful wrote: »

Yes -I've never hidden that point. What I quoted above would refer to any company advertising a recent product. Whether I agree or not with the latest fixed price from any company I would always hope I can use my brain to think independently.I often advise people about the tariffs but also advise them to go onto the web sites and check the click rates. I then advise them to decide for themselves.

Really? So, someone registering before I just asked you and reading your posts in this thread before I asked you would be entirely clear you work for British Gas, would they? If you don't want to 'hide' where you work, why not adhere to forum guidelines and place the details in your sig? Just a thought...