capping bills - have I missed the boat?

warnski

just been on a (gas and electricity) comparison price and found the best capped rate switch for me gives an expected saving of MINUS £30. This is without taking into account the annual loyalty bonus my current supplier gives me (a month's payment back in my account - currently £35).

are the price hikes on the horizon going to be so severe that I should consider switching to capped rates, even though the initial switch will put my bills up by at least £65 a year??

thanks in advance for advice and opinions!

amtrakuk

If your unsure Id talk to your supplier. Id strongly recommend capping sooner rather than later. Later this year there may be a rise in energy of about 40%

averageguy11

or ther may not...got a coin?

Perhaps work out the % increase needed to make any change b/e and take it from ther

amtrakuk

Just heard on 5 news the energy companies are being asked to justify the 40% rise forecast for this year as well as disclosing their fat cat bonuses. About bloody time too. Guess what the answer they all gave. The price of wholesale gas - again!

Paulee

I saw a little on the news yesterday of the energy company bosses being interviewed. I think that the whole system STINKS! Talk about a cartel; it's a ringed price system operated by foreign owned companies and, once again, the British customer is getting STUFFED! What will come of any government/energy commision grilling - ABSOLUTELY NOTHING. I wouldn't be surprised if our wonderful M.P.'s aren't major shareholders in these companies - Tony's probably on a few boards!!!!

amtrakuk

yeah agree with you there. Its just a PR stunt I recon to pacify the consumer. Like you say nothing will be done about it and I m sure the price will go up and up. Although Brown did show an interest in renewable but personally don't think much will happen about it as they said in the news the other day. Who will invest in it. i forget the figures but you need something like 20 thousand of the big wind turbines running at 100% to replace one power station.

Thought what other options do we have? In the Green corner there are only windmills and solar which are viable, each at the moment don't quite make the mark in production. Nuclear? Perhaps if we can speed up the building and commissioning without compromising safety, cutting red tape and keeping the greens and public happy. Fossil Fuels, were doing that now, but we could reopen the UK mines.