Price fixing

[Cyberman]

I'm still waiting for the government or some official body to take action, given how we keep seeing companies post record profits. Fair enough, prices are rising but the companies could be expected to keep their markups the same?

I agree wholeheartedly. These profiteering companies will hopefully face a windfall tax if this ineffectual government eventually wakes up. What really disgusts me is that one particular french supplier is subsidising far lower price increases in France at our expense.

[Bob Dalek]

Never having signed-up for a price guarantee, I wonder if there's anything in the small print that gets them off the hook if their costs rocket above a certain level?

[TimberWolf]

I haven't looked at it closely, but ignored the offer they sent me since my gas bills are tiny. Gas is still way cheaper than electricity per kWh though. Shame cars don't run on it. On the surface it looks like a punt, and surety for those that want it (and are incapable or unwilling to put on a jumper ).

[pmeswani]

the question really, is will it go up even further? as I'm not an energy trader I have no idea! - 3 years is a long time...

The prices have already gone down. It's their way of paying the shareholders more money at your expense. Best thing to do is invest £10k in their shares and get a rebate that way.

[Peoplesoft bloke]

I'm still waiting for the government or some official body to take action, given how we keep seeing companies post record profits. Fair enough, prices are rising but the companies could be expected to keep their markups the same?

It got privatised - so now they can do what they like.

[Ruprect]

It's because there's been a lot of publicity about fixing prices before the rise. British Gas are counting on large numbers of people being too stupid to realise this is an offer to fix your price after the rise.

And it'll probably work.

the question really, is will it go up even further? as I'm not an energy trader I have no idea! - 3 years is a long time...

[VectraMan]

It's because there's been a lot of publicity about fixing prices before the rise. British Gas are counting on large numbers of people being too stupid to realise this is an offer to fix your price after the rise.

And it'll probably work.

[d000hg]

I'm still waiting for the government or some official body to take action, given how we keep seeing companies post record profits. Fair enough, prices are rising but the companies could be expected to keep their markups the same?

[DimPrawn]

What would AndyW do?

[Ruprect]

Yeah that's what I figured. I reckon I'll probably be better off shopping round and changing supplier. (to be honest though I can't remember ever seeing the bill actually come down!)

[NotAllThere]

If they're offering to fix prices, then they think that prices are likely to come down. Or at least they won't go up so much that the guaranteed income offsets the lower profit margin.

[Ruprect]

Alright guys/gals, what does the panel think? British Gas has just put up prices by 35%, and now they're offering to fix prices until 2011. Do I take them up on the offer (are prices likely to go up even further?), or are prices likely to come down?