British Gas Fixed Rate.

bluevelvet14

Hi, new poster here, please be gentle. I,ve recently signed up to British Gas Fixed Rate March 2013 and I'm unsure if I'm doing the right thing. I will be paying a premium of 25% above their standard tariff unit rate until 31st March 2013. In light of the recent announcment from British Gas should I go ahead or should I cancel, I have until 12th July to cancel). Thanks in advance. :rotfl::money:

chris1973

I don't know, at the end of the day these decisions are 50/50. 50% chance and 50% pure luck

Some tariffs have increased by anything upto 20% already, so if they keep going up a couple of times per year by similar amounts, then come 2012 / 2013 you'll probably be better off, if only slightly.

Then again prices can come down, and there might be a consumer revolt, but that would be highly unlikely and I wouldn't hold your breath, and like petrol if they do decrease it will be by pennies, if that.

My Crystal Ball has gone back to Argos as its now far too expensive to plug in and run, so who knows!. Like everything else in life its a gamble.

bluevelvet14

Thanks Chris, I guess you're right, I think I'll go for it and keep my fingers crossed that prices rise sufficiently to cover my outlay. Thanks again.

TIMMY85

You're probably best off sticking with it as it would cost you the cancellation fee (£50 on each fuel to change)

bluevelvet14

Not yet Timmy, I still have a couple of days (12th July) to cancel without penalty charges.

Airmike23

You can get much cheaper fixed/capped deals from Eon EDF and Scottish Power so I would ditch the BG one as is exceptionally high cost now!