Should I agree to British gas offer to price fix until 2011 ?

Question

I have an account for gas and electric with them

Answer 1

NO NO NO! Prices are at an all-time high, the chances are that they will go down soonish, and then you'll be screwed.

Answer 2

Would they offer it to you if it meant they would lose out ?????

I think not.

It's in their interest to tie you in

Answer 3

Don't be wild wait until the prices come down and look into burning wood chip or whatever it is called.

Answer 4

No, gas prices have gone up. Thats why there is the special fix til 2011 offer. Its not a offer its a way of worrying people into paying stupid amounts as they are worried theprice will go up even more. It would be cheaper to swop from BG to someone else or not have prices fixed. They will come down most probably.

Answer 5

Basically it's a gamble.

If gas prices have peaked and they go back down soon, then on a capped fixed rate you'll then be paying more than you would've been.

But if gas prices go up even further, then you'll be better off, because you'll be paying less than the people who didn't get it capped.

So- are you optimistic, or pessimistic?..