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MSE News: The big six energy suppliers say no price cuts
Former_MSE_Natasha
Posts: 672 Forumite
This is the discussion thread for the following MSE News Story:
"British Gas, EDF, E.On, nPower, Scottish & Southern Energy and Scottish Power have given the strongest hints yet that there will be no price cuts this year despite rising profits..."
"British Gas, EDF, E.On, nPower, Scottish & Southern Energy and Scottish Power have given the strongest hints yet that there will be no price cuts this year despite rising profits..."
P.S. This post was inserted to give a news story on the subject originally posted by MoneySaver JUNIOR. Thanks!
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Comments
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http://news.bbc.co.uk/1/hi/business/8262360.stm
Another addition to rip off briton , how come prices never fall ? they said bills will have too rise because of the wholesale price ,now we have some more excuses .0 -
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It is not difficult, though it takes some patience for non investment bankers or commodity traders, to get your head around the wholesale energy markets and fathom out that, as with petrol prices, the suppliers try to baffle Joe Public with technobabble in a condescending way. I ask why they do not have an ex investment banker grilling them as they could rip their flimsy arguments to shreds.
I agree that companies cannot keep prices jumping around like the stock exchange but they are a virtual cartel, although assisted through apathy, but they seek to pass on the business risk to the consumer and protect their shareholders with some god given right to continual profit growth. Their job is to predict future energy requirements and seek supplies, not to bodge that job and stick on a hefty margin over wholesale prices to fill their wallets.
Ofgem is a waste of time, an dog with no teeth and only a whimper of a bark.0 -
I think the energy companies should be given some praise for their undoubtedly unique ability to buy their future supplies at the very highest prices. It's a real gift, TBH. It's also total and utter bull****!Call me Carmine....
HAVE YOU SEEN QUENTIN'S CASHBACK CARD??0 -
12 months ago they were telling us that gas prices were lnked to the oil market (not gas, yeh OK) well oil prices are now half the price they were a year ago.
Regulator - get it sorted.'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
Or they could just be saying there will be no price drops to shift a few more sales of fixed price tariffs then announce a drop next year when everyone has a nice exit fee to pay.Missing Tesco R&R since Feb '07 :A & now a "Tesco veteran" apparently!
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just rip of britain isnt it, why do we take this crap.
what a naff government running the country. the prices want stamping down.0 -
just rip of britain isnt it, why do we take this crap.
what a naff government running the country. the prices want stamping down.
If you think these sort of rip-offs will be cured under a Tory govt, be prepared to be VERY disappointed. They will be inheriting a trillion spondoolics worth of debt. The high gas and leccy prices are a nice little earner for the Govt what with the 5% they cream off the top. What with all the doctors, police etc Cameron will be sacking, I'm suspecting rip-off Britain will be way down the list of priorities. Of course, it was his Party who instigated this whole sorry mess in the first place.Call me Carmine....
HAVE YOU SEEN QUENTIN'S CASHBACK CARD??0 -
If gas prices were still linked to the oil market as they were last winter there probably would be genuinely little room for price drops. The issue is that gas has never been cheaper relative to oil.12 months ago they were telling us that gas prices were lnked to the oil market (not gas, yeh OK) well oil prices are now half the price they were a year ago.
Regulator - get it sorted.
Price for December gas this time last year: about £1 per therm
Equivalent price of crude oil this time last year: about 90p per therm
Current price for December gas: about 37p per therm
Current crude oil equivalent: about 77p per therm
So oil has dropped about 15% in sterling and winter gas has dropped 50%.
If the utility companies' obession with oil prices extends to basing their all of their pricing forecasts on them, that would explain why they don't see the need to drop prices.0 -
Surely this cant carry on , gas , elec , petrol , c/tax , well all bills really :rolleyes: going up + 2.47million folks out of work this winter , . How are these famlies supposed to keep warm , cook food ,ect .
I cant see how we are going to dig ourselves out of this hole , there is no way British people can afford these ever increasing bills :mad:
no jobs ,no future , no end to con merchant businesses , oh yeh and a shat goverment
So not proud to be british , never thought i'd say that !0
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