Fix price until 2017?

beetle_71

Hi

I've received an offer from my energy company, First Utility, to fix my energy price until 2017.
I don't know alot about the energy market at the moment apart from there's been some hoo har over price rises and I'm worried the government may step in and make the companies lower their prices.

I'm tempted to freeze, but what if energy prices do come down? I'll be stuck paying a higher rate until 2017!

Please help, I've only got until the end of the month to decide!

Cheers

Yvonne

lstar337

If there is no exit fee you can just leave and you will be no worse off.

These things are always a gamble, so just try and push the odds in your favour.

JJ_Egan

Its a decision you make based upon the possibles .
Government may well regulate further but energy is a worldwide commodity.
The fix will of course be at a higher price than today's price and probably next years price .In that case you are already spending more than you need to today in the hope that price rises will be more than you are going to pay out in excess of the current prices until 2017 .
How much extra for the next twelve months then the year after would be my starting point .

macman

Why not opt for one of the shorter term fixes offered by FU then?
http://www.first-utility.com/energy/compare-tariffs/
For Sept 2017, you are effectively paying a big premium (about £180pa) as an insurance against further increases-and a potential £60 ETC if it goes pear-shaped.
Much better to opt for an EDF fix which has no ETC, such as:
http://my.edfenergy.com/gas-electricity/our-energy-tariffs