25% premium to cap at British Gas!!

owenp

My cap for electricity at British Gas ends at the end of June.
They've offered me a new cap until March 2013 but they want to charge me 25% above the current Standard Tariff then that rate is fixed.

This seems a huge amount to pay.

As an alternative they offer a cap until June 2012 for a 19% charge above standard.

Are any of these worth the extra premium?
Thanks for any advice,
Owen

Pincher

Hyper-inflation, scary stuff.:eek:

NeverInDebt

Seems a bit on high side. Still you get a cap for peace of mind knowing if and its a big IF prices go up lot until March 2013 you are at least covered until then. Its always a gamble although its a good gamble that prices will at least go up for foreseeable future its anyone's guess they go up that about until March 2013

backfoot

owenp wrote: »

They've offered me a new cap until March 2013 but they want to charge me 25% above the current Standard Tariff then that rate is fixed.

This seems a huge amount to pay.

As an alternative they offer a cap until June 2012 for a 19% charge above standard.

Are any of these worth the extra premium?

No. :eek:

A better comparison would be assess the premium against the best online rates, variable, capped and fixed.

Can't help feeling that the Suppliers are cashing in on the fear generated by the Scottish Power announcement.

Premium levels to fix are ridiculously high for such short term fixes/caps.