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British Gas Out On A Limb?

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Anyone know any more about this one?

Just seen an advert on tv for British Gas. "Sign up to British Gas price protection and we'll guanrantee no more price rises until 2010"

So, is this a sign that the peak oil theory is a bit further away in time than was suspected, or just that prices are already high enough to cover then for the next 4+ years?

If we're going to see massive rises in the price of oil and gas then surely this is a very risky move - are they out on a limb, or does the small print protect them?

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Click the ad on the top of the page, it takes you straight to it.

Price Protection Terms and Conditions


Price Protection 2010 applies until 29th November 2005 at our new standard prices. From 29th November 2005 - until 30th April 2010 discounted rates of 4.8% below our new standard variable prices apply for domestic electricity, and a 2.8% premium above our new standard variable prices applies for domestic gas customers. 


The no additional cost rate is an average dual fuel price based on gas representing 67% of total dual fuel bills, and single rate electricity representing 33% and on a consumption of 20,500 KWh and 3,300 KWh respectively. 


Subject to availability. Excludes gas prepayment customers. Price Protection 2010 excludes any changes in VAT. If you move house during the period of this agreement it may be transferred to your new address at the Price Protection 2010 rates applicable to that area. We will honour the Price Protection 2010 premium rates unless we are prevented from doing so by the action or anticipated action of any governmental or statutory body. 


If you cancel the agreement, either by moving to another gas or electricity supplier or requesting to change to our standard variable prices at any time prior to 30th April 2010, a cancellation charge (inclusive of any VAT that may be applicable) may apply to your next electricity and or gas bill. The cancellation charges would be:Cancellation Notification Gas Cancellation Charge Electricity Cancellation Charge

Any time prior to 30th April 2008 £45 £30

Any time between 1st May 2008 and 30th April 2009 £30 £20

Any time prior to 1st May 2009 and 30th April 2010 £20 £15


This charge will not be applied if the agreement is cancelled due to a home move.

Edited by libitina

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