British Gas Price Protection 2012.

Gizmos_dad

BG have sent a letter telling me my Previous Price Protection is coming to end in 2010. Unleess I opt out they will automatically put me on their 2012 Price Protection? Is this a good deal or should I opt out now. I appreciate no one can decide for me, however any ideas/ comments welcome.
Many Thanx GD

kjsmith7

It depends. If you don't want your bill to go up very much, opt out and go for an Online deal, either British Gas' WebSaver7 (you pay by direct debit, view the bill online, get a whopping discount is the quick gist) or to any other company's tariff. It's worth you adding up your kWh usage from your last year's statement and popping it into comparison site to make sure you're getting a good deal. Check for lock in periods and cancellation fees, that sort of thing, so you are aware of what you're signing up before.

If you want security and to know your prices will not change (be it up or down) for the next two years, do nothing and you'll be opted in. It depends which is more important for you: do you prefer the security of knowing your price will be X, Y and Z and without your consumption changing your monthly bill will be £xx.xx per month, or would you rather save more money now, but not necessarily in the long term?

Hope that helps.