Switch or Not?

Murielson

I have recently gone through the main MSE site links to switch supplier from Southern Electric to EON FixOnline 5 plan for electricity and gas. Think I went through Moneysupermarket in the end.

My question is whether this is a good deal fixing prices until 1 Mar 2011 based on the fact that British Gas have made their recent price cut? I am now concerned that cuts may now ripple through all suppliers.

I am still in the 14 day cooling off period and therefore still able to decide whether I have a good deal or not. Any advice would be appreciated on how the market may go from those who may have thoughts on the subject.

Thanks in advance.

macman

Depends on your attitude to risk.
If you are low risk, then a fix means that you know that you can afford what you have fixed at and there will be no surprises.
If you are higher risk, then it could go either way.

Premier_2

If, at a time of all time high retail prices, depsite dramatic falls in the cost of wholesale prices and the fact that there is no current premium to pay for fixed deals (there's always a premium if the market expects prices to rise shortly). I would suggest that one supplier changing prices on some of their gas tarriffs has already given you the wobbles within 2 weeks of application for a fixed rate, that you cancel the switch whilst you can and steer well clear of any fixed rate deals.

Murielson

Thanks macman. Realise it is a risk question just wondered what peoples opinions are.

Premier - I do not have the 'wobbles' at all. I asked for thoughts and advice not for critical comment on my attitude to risk etc as you have no idea about my thoughts on this. When I am committed to a deal I stick to it but if I have the opportunity to change to a better deal before I commit then I will take it. Assume you wouldn't change for any reason.

Just noticed your signature block - nice to see you know your style and seem to be quite happy/proud. I assume you stop a lot of threads in this manner and just hope others will respond to my question with their comments.

Premier_2

Ok, don't take my advice and instead stay with the fixed rate you signed up with - the choice is yours

Murielson

Same comparison site now suggests British Gas Websaver 6 since I did my original coparison so BG reduction appears to be having some effect.

Fire_Fox

Murielson wrote: »

Thanks macman. Realise it is a risk question just wondered what peoples opinions are.

Premier - I do not have the 'wobbles' at all. I asked for thoughts and advice not for critical comment on my attitude to risk etc as you have no idea about my thoughts on this. When I am committed to a deal I stick to it but if I have the opportunity to change to a better deal before I commit then I will take it. Assume you wouldn't change for any reason.

Just noticed your signature block - nice to see you know your style and seem to be quite happy/proud. I assume you stop a lot of threads in this manner and just hope others will respond to my question with their comments.

No need to get uppity, Premier is known to be helpful and there was nothing untoward about his/ her earlier post.