Should I Fix My Energy Prices?

[meglet]

3 months ago I switched to First Utility as it was going to save me £100+ a year. They have now sent me an email offering to fix my energy prices for the next 3 years, however my standard gas tariff increases by 9% and the electricity by 14% above what I'm paying now.

Should I fix? I thought there was talking of energy prices coming down....

[jd_1984]

We opted for fixed.
In 3 years who knows what the energy prices will do. Its a gamble and an individual decision based on your family. For us, we feel like we are quids in on fixed rate.

[Maydup]

With the price of oil coming down and the government encouraging businesses to pass savings onto customers and staff, I'm hoping to see a reduction in energy costs.

I know, ai can but hope, but personally I wouldn't fix right now unless it was a really good offer.

[meglet]

That's what I was thinking Maydup, if they were offering to fix at current rates then I might consider it but I think the increase is too much. I'm sure I've heard that wholesale fuel prices are coming down and that the big 6 are going to be passing on savings soon.