Energy Prices

[richarda0109]

What are peoples general view on energy prices (gas & electricity) for the next 2-3 years. Just got an email from my energy provider (First Utility) offering to change tariff to a Ocober 2018 fixed deal. I am already on their August 2015 fixed tariff deal.

I am asking in the light of current lower petrol prices / lower price for crude oil.

Thanks
Richard

[traxx]

Wholesale energy prices are way down this year, it sonly a matter of time before the big utilities cut prices - in fact I'm surprised Ofgem haven't already forced them to

Probably the main reason prices haven't yet fallen ironically is the Miliband/Labour proposal to fix prices - the utilities are looking to increase margins now to protect themselves against an unhedgable position

[richarda0109]

Just did some quick calculations for my provider.
I'm currently on fixed Aug 2015 which works out on a flat rate of £912 till Aug 2015
The next fixed deal is Nov 2015 which works out on a flat rate of £929 till Aug 2015
Then October 2016 ...............................................£1057 till Aug 2015
Then January 2018 ...............................................£1119 till Aug 2015

So it looks like fixing anything longer than 13 months is not worth it at the moment and the best thing me to do is just sign up for the Nov 2015 fixed rate.

Rgds
Richard