Fized Fuel Prices Till 2008...

[fergy]

Hi,

So looking for some opinions, just got a letter in from the energy company we use offering no more price rises to 2008, obviously at a price with an adder on present fuel prices.

So should I got for it ? Way prices going with Gas / Electric I think so but wanted more opinions. Only concern is that I'm fixing price when it is high and that it may drop.

Cheers,

Fergus.

[javadude]

When was the last time the energy companies reduced their prices though?

[lexus boy]

think they have been fixed neway havent they

[mikeyboy]

Guessing gas price movements is always going to be tricky. The suppliers will tell you one thing and the commentators will tell you the current prices are unsustainable.

Have a look at http://www.fool.co.uk/news/comment/2005/c050923c.htm

the yahoo finance website is ok too.

Personally I didn't when offered it from our supplier. But you can probably opt out if things change. Then of course you should be checking uswitch.com to see if your supplier is still competitive.

Prices did tend to fall after the supplier shake up a few years back, but how often do you see a good news story in the press!

[eXOBeX]

Pay more now, to make up for paying less later, probably balancing out by 2008. Hmmm...

I'd rather pay less now (switching if necessary), and retain the option to switch again later!

[Mr Morse]

Since demand for oil and gas is forecast to remain strong for the next 3-5 years it is worth considering this.

[eXOBeX]

As if you'd know anything about the oil and gas industry, Mike :winky: :D

May be worth you casting an expert eye over the figures. I reckon the big boys will have already estimated fuel costs to 2008 and worked out where to peg the fixed rate at to cover themselves. But if the man on the rig knows something they don't...