Switching Gas Provider

C

corkfella

Registered User
Messages
56
Hi, I was considering breaking a fixed contract with Bord Gais for a urban dual fuel account, as I believe the break fees are small. If I go to airtricty i can potentially save 990 based on binkers.ie estimates and it states that its based on a 1 year contract.

My question is does that contract defintely lock in the current charges for 12 months

1662977316779.png

or will I get an email in a few months stating that due to unforseen circumstances your rate is changing. I appreciate what a fixed time contract is based on but I've seen recently whereby charges are just passed on to the consumer in the energy sector and I was wondering if anyone had recent experience or could comment.

Thanks
 
I don't think any providers offer a fixed price contract, what they offer is a fixed discount % on their standard rates.
 
ya its based on today's prices. It feels a bit like trying to catch a falling knife, no matter the provider they will all be massively hiking rates this winter.
 
corkfella said:
ya its based on today's prices. It feels a bit like trying to catch a falling knife, no matter the provider they will all be massively hiking rates this winter.
Click to expand...
75% of all gas is from Britain, their traders set the price we eventually pay.
 
My supplier of gas contract expires next month. I will move to a variable rate plan. With the wholesale price of gas dropping should I fix in to a new one year rate or should I wait and see if prices begin to drop....and then fix? (I understand that prices change and are not "fixed" as such).


Any thoughts?
 
If it was me I'd fix now while waiting for the gas prices to fall, any discount now is better than none
I'm guessing it's going to be a couple of months if not six till we know where the prices are going to end up
and when that time comes I'll just break out of the contract I'm in now for the €50 penalty
 
it's only the discount that's fixed, if prices fall then your new providers standard rate should fall too and your discounted rate will fall.
It's only €50 to break the contract if you find that other providers have a much better rate.

FWIW, I'm out of contract shortly, so I did the comparison yesterday and found SSE to be the cheapest for gas and electricity, but still a lot more than I'm currently paying with last year's discounts, and over 3 times what I was paying when I signed up :(
 
Last edited:
You must log in or register to reply here.
Back
Top