should i fix?

adamcarvell

i advice please im currently on british gas websaver 11 duel fuel
annual gas useage is-23284 kwh
electric is -4442 kwh both per year .
am i better off staying put or switching to a edf fixed untill 2014 the figures i get is £27 a year more which is ok if its fixed for three years.help anyone?.

adamcarvell

BG offer me a fix untill 2013 and waiver the exit fees is this good ?.

macman

adamcarvell wrote: »

i advice please im currently on british gas websaver 11 duel fuel
annual gas useage is-23284 kwh
electric is -4442 kwh both per year .
am i better off staying put or switching to a edf fixed untill 2014 the figures i get is £27 a year more which is ok if its fixed for three years.help anyone?.

If we knew, we'd all do the same thing. No one has any idea where prices will be in 6m, let alone 3 years.
A fix is not necessarily intended to be cheaper, you are simply buying peace of mind by locking into a firm price for 3 years. If prices fall, you'll be worse off.
To get that peace of mind, you have to pay a premium. But in your case it's a minimal one. With the £20 cashback available, it's going to cost you just £7 extra to fix in year 1.
I suggest you also look at the cheaper EDF fix: Fixed Saver v2 (to 9/12).

Pincher

I am sitting on a variable rate, waiting for prices to fall.

So the answer to "should i fix? ", is NO.

The next pseudonymous will doubtless say YES.

Airmike23

I agree with pincher, variable rates are cheapest and what I personally opt for, but if you've got to fix edf fixed saver 2 is the cheapest fix available, I would avoid the BG Price Promise 2013 like the plague!

melbury

I have gone for the EDF price fix 2014 just so I know what I will be paying for the next few winters:eek:

I don't really see that prices will fall significantly, but if they did I would just have to work out if it was worth paying the exit charges to change to another plan.

adamcarvell

ok ive never switched how easy is it to do ?.

Carl31

Wholesale prices have been dropping for a while, an investigation into utility companies is about to commence due to concern over price hikes, the economy is pretty weak meaning further increases will only serve to slow economic recovery. I would look into those points before making any decisions over fixing

adamcarvell

umm might just sit it out then.

macman

adamcarvell wrote: »

umm might just sit it out then.

If you've never switched, then you are on the most expensive tariff-Standard. Just throwing money away.
Switching takes about 15 minutes using a comp site, then a cashback site.

adamcarvell

ive never switched from BG but have for a few years managed my gas and electric online websavers etc.