Best time to switch supplier?

channy

With the Israel-Lebanon conflict and the absurd solution for the Lebanon extremists to step down (and they probably wont), is this the best time to switch supplier to one that will not increase prices for a long time? eg... powergens capped prices until 2010? (although you're already paying more then needed at the moment).

I mean, the middle east peace isn't there with all the tension now. For me I can see this carrying on and pumping prices up again and even more.

Cardew

That question has been asked many times on this forum and the only answer is that it is a gamble you must take - or not!

With the large increases in the past year or two, I think it is fair to say that historically all capped/fixed deals have paid off for those who signed up for them.

I think that the future of gas/electricity prices is more dependant on Russia than the Middle East - although that has affected the oil price.

Some experts predict a short term rise in gas/electricity prices followed by a period of stabilisation - or even some easing of prices.

One point is that should there be a substantial drop in prices a capped deal will reflect this drop. Even with fixed price deals the penalty for opting out is not that high.