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  • FIRST POST
    • MSE Faye
    • By MSE Faye 12th Apr 17, 12:01 PM
    • 146Posts
    • 55Thanks
    MSE Faye
    EDF to hike energy prices AGAIN - dual fuel bills to rise by further 7.2%
    • #1
    • 12th Apr 17, 12:01 PM
    EDF to hike energy prices AGAIN - dual fuel bills to rise by further 7.2% 12th Apr 17 at 12:01 PM
    The change comes into effect on 21 June...
    Read the full story:
    'EDF to hike energy prices AGAIN - dual fuel bills to rise by further 7.2%'

    Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.
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Page 1
    • ruperts
    • By ruperts 12th Apr 17, 1:45 PM
    • 412 Posts
    • 616 Thanks
    ruperts
    • #2
    • 12th Apr 17, 1:45 PM
    • #2
    • 12th Apr 17, 1:45 PM
    Dermot Nolan the chief executive of ofgem says it's "further evidence that the energy market is not working in all consumers' interests".

    Well spotted, Sherlock, but hold on a minute, isn't it actually your job to make sure the market is working? Will your admission of abject failure be accompanied by your swift resignation? Somehow I doubt it.

    Scams on top of scams on top of scams.
    • robin58
    • By robin58 13th Apr 17, 12:51 AM
    • 1,561 Posts
    • 1,459 Thanks
    robin58
    • #3
    • 13th Apr 17, 12:51 AM
    • #3
    • 13th Apr 17, 12:51 AM
    When are we the public going to stopped from being ripped off.

    For once Ofgem stop talking and start doing something or you aren't worth the money the government pays to fund you.
    The more I live, the more I learn.
    The more I learn, the more I grow.
    The more I grow, the more I see.
    The more I see, the more I know.
    The more I know, the more I see,
    How little I know.!!
    • whattochoose
    • By whattochoose 13th Apr 17, 10:12 AM
    • 268 Posts
    • 72 Thanks
    whattochoose
    • #4
    • 13th Apr 17, 10:12 AM
    • #4
    • 13th Apr 17, 10:12 AM
    http://www.dailymail.co.uk/news/article-4406668/Crackdown-energy-rip-offs.html
    • Kim_13
    • By Kim_13 13th Apr 17, 1:49 PM
    • 1,144 Posts
    • 1,541 Thanks
    Kim_13
    • #5
    • 13th Apr 17, 1:49 PM
    • #5
    • 13th Apr 17, 1:49 PM
    So does this mean that electricity only customers aren't getting a hike, or are they getting the 9%? A relative is an electricity only customer and wants to know where she stands.

    If electricity only customers aren't included in this rise and dual fuel customers didn't get the last one, it isn't as bad. Finding it hard to tell though having read a few different articles and a quick look on the EDF site. I would have thought they would be shouting about it if different customers were impacted, as it would make the hikes look more reasonable (and that might not have prompted an article about the goverment looking at a cap.)
    Sealed Pot 10 #520 ~ ~£62.55/£100
    VSP 2017 #9 ~ £41.40/£250.00
    CCCC 2017 #1 ~ £162.71/£120.00
    EF #170 ~ £500
    Xmas 2017 #25 ~ £10/£365
    365 Day Penny Challenge #4 ~ £17.31/£667.95
    • Victor the Gink
    • By Victor the Gink 13th Apr 17, 2:15 PM
    • 153 Posts
    • 286 Thanks
    Victor the Gink
    • #6
    • 13th Apr 17, 2:15 PM
    • #6
    • 13th Apr 17, 2:15 PM
    If price caps were imposed, I have no doubt that this would all end up in state ownership before too long.

    It is almost impossible to make any money selling energy. I know the media like to go ape !!!! about energy companies profiteering, but they are wrong and I am right. None of the smaller companies make any money. OVO have NEVER made any money - they reported their first ever profit recently for a 6 month half year. It was entirely made up by them flogging their smart meter business. Operationally, they are continuing to make a loss.

    The big 6 do make money, but it is on wafer thin margins. You or I would simply not go into business for a reward of 4-5%. It's too high risk-low reward. As soon as there is a significant movement in cost base, you have to have these very public price rises.

    Imposing price caps will lead to shortages. That is about as settled an economic fact as you will get. It doesn't matter if it is apartments in Stockholm, or bog paper in Caracas - if business believes it will not make money doing something they will stop trying altogether.

    I am not saying a return to state ownership is necessarily a bad thing, but I do think we need to have an honest discussion about all this before pandering to the Daily Mail.
    • csgohan4
    • By csgohan4 13th Apr 17, 2:31 PM
    • 3,493 Posts
    • 2,179 Thanks
    csgohan4
    • #7
    • 13th Apr 17, 2:31 PM
    • #7
    • 13th Apr 17, 2:31 PM
    people will vote with their wallets, so EDF really are not helping themselves.


    Haven't been with EDF for over 5 years, never was the cheapest for me on the Energy club.
    "It is prudent when shopping for something important, not to limit yourself to Pound land"
    • Kim_13
    • By Kim_13 13th Apr 17, 2:53 PM
    • 1,144 Posts
    • 1,541 Thanks
    Kim_13
    • #8
    • 13th Apr 17, 2:53 PM
    • #8
    • 13th Apr 17, 2:53 PM
    "The combined effect of BOTH March and June’s changes will be to increase bills for a dual fuel direct debit customer on a standard tariff by an average of 8.5%, or £91/year. For the 800,000 electricity-only standard customers, the hike will be even steeper - on 21 June you'll be paying on average 18.1% more than you were at the end of February.'

    Clearly stated in the article...
    Originally posted by duncansoton
    Apologies, I must have missed that when I read MSE's article yesterday.

    Thank you.
    Sealed Pot 10 #520 ~ ~£62.55/£100
    VSP 2017 #9 ~ £41.40/£250.00
    CCCC 2017 #1 ~ £162.71/£120.00
    EF #170 ~ £500
    Xmas 2017 #25 ~ £10/£365
    365 Day Penny Challenge #4 ~ £17.31/£667.95
    • metrobus
    • By metrobus 13th Apr 17, 3:04 PM
    • 1,349 Posts
    • 672 Thanks
    metrobus
    • #9
    • 13th Apr 17, 3:04 PM
    • #9
    • 13th Apr 17, 3:04 PM
    I have switched to EDF today for a one year fix they are by far the cheapest for my useage 13500kwh gas and 1350kwh electricity out of the companies that are in the warm home scheme which is worth another £140 to me.
    • PaschalFun
    • By PaschalFun 13th Apr 17, 4:02 PM
    • 89 Posts
    • 15 Thanks
    PaschalFun
    people will vote with their wallets, so EDF really are not helping themselves....
    Originally posted by csgohan4
    Whilst I would like to think us small band of MSEers would, the reality nationwide is that it is not generally the case

    Large numbers think switching energy provider “isn’t worth it”



    and even


    About 20 million households are languishing on the 11 biggest suppliers' standard variable tariffs for dual fuel (both gas and electricity), despite all of the companies offering other deals that are significantly cheaper, according to the Ofgem data.
    http://www.telegraph.co.uk/business/2016/12/14/energy-suppliers-shamed-high-cost-standard-tariffs/


    as just a couple of examples.


    The energy suppliers all know that.

    Wasn't it Eon who earlier this year played similar games, even introducing low cost 'inducement' tariffs only available to those not currently supplied by them.
    • molerat
    • By molerat 13th Apr 17, 4:25 PM
    • 16,473 Posts
    • 10,645 Thanks
    molerat
    I have just fixed my gas again with EDF for another 13 months from my current end of 31 May until 30 Jun 18 with no exit fee. Cheapest out there for me, same for my daughter, £30 cheaper than Zog for me and £68 for her. Still a 26% increase in unit price though
    www.helpforheroes.org.uk/donations.html
    • Hengus
    • By Hengus 13th Apr 17, 4:32 PM
    • 3,717 Posts
    • 2,025 Thanks
    Hengus
    Be careful of what we wish for as, imho, any cap on SVTs will result in an increase in fixed tariffs to compensate for the potential loss of profit.

    Estimates (Corbyn 2015) suggested that re-nationalisation of the energy sector would cost us £185Bn. Further studies suggested that the figure would be in the range £62Bn to £105Bn for the top 9 energy companies at April 2016 share prices. I suspect that the private sector is here to stay whether we like them or hate them.
    • Robisere
    • By Robisere 13th Apr 17, 5:52 PM
    • 1,502 Posts
    • 2,256 Thanks
    Robisere
    I agree with molerat & metrobus. Fixed price Blue+ Price Protection, thanks to all those who cba to look for a better deal than Standard Tariff.

    I have always prized the customer service from EDF as well as the fixed price offers. Their website is a model for others and the online chat is better than any others. I send a reading, get a bill within no more than 48 hours. During the very few, very minor problems I have had in 5 years, I have had efficient and courteous responses, with solutions, very quickly.

    As for nationalisation of energy companies, what a joke! That would be one big, expensive mess and we would all end up with a bureaucratic nightmare of a service. All those who lived through nationalised industries know that means 'jobs for the boys' and innefficiencies piled upon poor service. Corbyn will never learn that this is the 21st century. His ideas are from somewhere around the turn of the 19th!
    Last edited by Robisere; 13-04-2017 at 5:58 PM.
    There may be more than one way to skin a cat.
    But the result is always inedible.

    • Consumerist
    • By Consumerist 14th Apr 17, 1:13 PM
    • 4,569 Posts
    • 2,250 Thanks
    Consumerist
    Be careful of what we wish for as, imho, any cap on SVTs will result in an increase in fixed tariffs to compensate for the potential loss of profit. . .
    Originally posted by Hengus
    Most MSEers have been saying this for years.

    We are not wishing for re-nationalisation but the behaviour of the energy suppliers towards their customers in recent years might prompt foolish politicians into an ill-conceived knee-jerk reaction which will do no-one any good. Nationalisation is probably just the worst possible option.
    Warning: In the kingdom of the blind, the one-eyed man is king.
    • gazza007
    • By gazza007 18th Apr 17, 1:04 PM
    • 243 Posts
    • 44 Thanks
    gazza007
    I am too on the EDF Simply fix May 17 which was a MSE Cheap Energy Club group offer.
    Nothing on offer this year for the club; what has happened?
    • Consumerist
    • By Consumerist 18th Apr 17, 2:33 PM
    • 4,569 Posts
    • 2,250 Thanks
    Consumerist
    I am too on the EDF Simply fix May 17 which was a MSE Cheap Energy Club group offer.
    Nothing on offer this year for the club; what has happened?
    Originally posted by gazza007
    It would seem that wholesale energy prices had been creeping up before the EU Referendum vote which then put a severe dent in the exchange rate. (Energy is apparently priced in US dollars).

    The upshot is that future energy prices are far less predictable these days and it's my guess that the suppliers don't want to stick their necks out by cutting any cheap deals for large numbers of customers.
    Last edited by Consumerist; 18-04-2017 at 2:36 PM. Reason: spelling
    Warning: In the kingdom of the blind, the one-eyed man is king.
    • Consumerist
    • By Consumerist 19th Apr 17, 6:51 PM
    • 4,569 Posts
    • 2,250 Thanks
    Consumerist
    MSE Energy Switch 7 - maybe
    Check this week's MSE Newsletter or <online>.

    Register interest in the switch by 23 April.
    Last edited by Consumerist; 19-04-2017 at 7:04 PM. Reason: Added registration date
    Warning: In the kingdom of the blind, the one-eyed man is king.
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