Energy Prices up or down this year??

Discussion in 'General Chat' started by ScottW75, Jan 6, 2012.

  1. ScottW75

    ScottW75
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    Just looking at uswitch as my current deal expired on the 1st of Jan.

    It seems that the fixed tariffs are now cheaper than the non fixed, Which would suggest the companies expect the prices to fall?

    Anybody think this is the case or am i looking for logic where there is none.
     
  2. Lee

    Lee
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    I don't know but with the winter being mild and the heating not being on much I would have thought it would have to go up in price so that they can continue to make millions and billions of pounds profit while people struggle along.
     
  3. _dark_blu

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    I heard that prices may be coming down slightly. By 'heard' I didn't enquire the original source from the person who told me (a family member) as I wasn't that interested at the time. But thinking about it, if the utility companies have bought huge amounts of fuel wholesale in advance anticipation of another harsh winter, they're going to want to get rid of it quickly so they can replace it with cheaper fuel now the wholesale prices have dropped. If they find the 'sweet' price point which will encourage consumers to use their heating and other appliances more they will make negligible or no loss compared to if their prices stay put.
     
  4. John

    John
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  5. Greg Hook

    Greg Hook
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    I think in answer to the OP, yes energy prices are up and down this year. :)

    Because as soon as the buggers lower it, later on they will find an excuse to raise them again.
     
  6. Miss Chief

    Miss Chief
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    Considering changing supplier as I'm finally back in credit with my current one after they ballsed up the transfer from my supplier before that. I see NPower are offering £100 cashback through Quidco atm. Are they best avoided? Any tips?

    Just checked on Npower's site and they're talking about nearly £200 a month in payments for dual fuel! Sod that!
     
    Last edited: Jan 6, 2012
  7. nheather

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    The pound and the euro has been falling against the dollar as the US economy recovers but the european one doesn't.

    If this continues, then even if raw energy prices remain the same (traded in USD) the price in £s is going to increase.

    Cheers,

    Nigel
     
    Last edited: Jan 6, 2012
  8. ScottW75

    ScottW75
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    Gone with fixed with Npower funnily enough as they were the cheapest for my area. The non fixed was £80 a year more and it's £40 to get out of the contract if i need to.
     
  9. mr ooops

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    coop energy is putting there prices down in feb
     
  10. Knyght_byte

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    presumably you've entered your actual annual usage in kwh for each service and nost just filled in a questionnaire on property size etc? So many people do that and so they get an estimated monthly amount. You need to go with quotes based on actual usage to know how much you need to pay.

    As most companies were offering fixed price tariffs again, It would suggest that prices will either stay stable or change very little up/down this year (unless we invade Iran, North Korea and Nigeria all at once).

    Also, with the new regulations due to come in on making tariffs simpler for consumers, there is less need to keep changing the tariffs. I reckon most companies will now start to offer other benefits to make up for not being able to confuse people with the energy side of it...lol
     
  11. lurcher

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    I am currently paying £150 per month for duel fuel with BG on fixed till March 2013 , was £167 but just come down , Dec actual usage was £147 dearest month yet , about £420 in credit.

    Julian
     
  12. liamis2cool

    liamis2cool
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    Been with nPower for 3 years now, found them to be excellent, £100 quidco when i signed up, £100 a year Direct Debit Discount on Duel Fuel, and it costs me around £70-75 a month for 2 bedroom house. when i did a comparison on wether to switch i found it would be £40 cheaper a year to switch but then id lose £100 discount.
     
  13. John

    John
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    I too am with Npower Dual Fuel. Every time I have looked to change they have been competitive so have been happy to stay with them
    When looking , I do make a point of finding out the unit price they are wanting to charge me and use that as a comparison
     
  14. Pistachio

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    I saw the same thing in Which mag.

    I think Ovo is worth throwing into the mix whether you choose to fix or go variable. To be honest, I cannot see the big six following little Ovo. I thought that coop energy may change the market a bit. I guess these things take time, and we probable should be grateful that there are any new players in the market.
     
  15. Knyght_byte

    Knyght_byte
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    There have always been new players to the market, however they are started by people who want to make money, and the surefire way to do that is to get yourself to half a million customers or more, then get bought out by one of the big 6. The shareholders/directors get a gorgeous payout and its all over bar the shouting. For the sake of staff the buyers 'will keep the brand going!' but they've almost all been absorbed eventually.

    The company I work for sold their supply licences to a big 6 operator when the market went silly around 2005 as their price promise would have bust them, but they were smart and only sold the licences, not the company itself (as it also provides telecoms). So they remain their own company and not beholdent to the big 6 operator. Due to the contract, they cant take the energy billing rights away from us unless we dont adhere to various levels of service etc, so we are pretty safe as we have one of the best records for customer service...lol. Of course, they can always buy up lots of shares in the main company and take over that way, but they seem quite happy to have us doing our thing as we are not a direct threat and give them a secure profit in general (we are one of few UK owned and based companies actually making genuine profit and increasing in size both customer base and staffing levels continuously....we even bought MFI's old headquarters when they went bust to expand in to...lol)
     
  16. mjn

    mjn
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  17. mjn

    mjn
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  18. mjn

    mjn
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  19. rickinyorkshire

    rickinyorkshire
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    Got my energy bill yesterday for the past 2 - 3 months. I could cry :eek:
     
  20. rickinyorkshire

    rickinyorkshire
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  21. Kebabhead

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    Prices went up 15% last year but they only drop them 5% still ripping us off
     
  22. nheather

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    As Kebabhead has said, putting prices up by between 15% and 20% in the Autumn and then dropping them by 5% in the New Year is not a price drop in my eyes.

    In addition prices increases in Autumn were to both fuel types but the reductions seem to apply to only one. For example EDF are dropping gas prices only and British Gas are dropping electricity prices only.

    Also, note that these price drops apply to the standard rate, but not necessarily the tariffs that many of us are on - like the online paperless services (obviously not talking about the fixed price ones). So whilst the prices of these increased in the Autumn, the recent price decreases may not be applied.

    Cheers,

    Nigel
     
  23. Dave

    Dave
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    I've just left EDF who put my direct up from £71 a month to a whopping £120. They can get stuffed, price drop or not.
     
  24. dc8900

    dc8900
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    Great isn't it? We can now all afford the finer things in life :laugh:
     
  25. Inked

    Inked
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    That's why I won't switch to direct debit. I have just received a letter from e.on telling me how much I could save by switching to direct debit to get their DD discount...wait for it.... £16 a year! Wow!
     
  26. mjn

    mjn
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    I didn't say they were big cuts, just cuts :)
     
  27. PoochJD

    PoochJD
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    There's a missing letter "n" there, I think, MJN! :rotfl:
     
  28. Mr Incredible

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    Depends on how much you use. For a heavy user like me EDF are the cheapest, period. You use what you use whether or not EDF's direct debit calculations are based on peaks and toughs in the usage. I'd have rather they keep my direct debits the same every month for 12 months. But no, it's up and down like a whore's drawers depending on the time of year, and nothing to do with price increases, although they do do that as well.
     
  29. rickinyorkshire

    rickinyorkshire
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    Npower said that our DD would be £150 per month.. we've left it and after we've paid this whopper of a bill we'll look around for a cheaper deal.
     
  30. Dave

    Dave
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    It's the fact that my account has been hundreds of pounds in credit for the past 18 months and after last months bill it slipped to just £20 in debit which was obviously rectified by the next DD payment. Due to this they saw fit to increase my payments by almost £50 a month.

    It's simply not on, how much have they made from me simply being in credit on my account over the last 2 years. At one point I was almost £400 in credit.

    I've compared suppliers and can get it almost £200 cheaper elsewhere even with the price drop, fixed for a year so bye bye EDF.:hiya:
     

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