to cap or not to cap that is the question.....

MSE_Martin

Dear Randy,

Cynacism is a good moneysaving trait, but so is examining the evidence. If you'd read my article you'd see more detail on whats happening and the justification for my predictions.

One of the important pieces that was cut from the programme is switching takes three months. It likely the first price hikes will come this month; and they could well be 15-20% alone. If that happens then those people capping right now will already be on a cheaper tariff than the cheapest available - and they will never have gone onto the higher tariff as you predict.

As for "will prices rise" one of the things that was only touched on was that we know they're going to. For example in British Gas' last financial report while commenting on the massive rise in wholesale gas prices it noted it intended to "maintain margins for our shareholders"... which is code for the fact that prices will rise.

In fact Im so confident on this that I say here publically that if at least one of the major providers hasn't announced a substantial price rise (which we'll call at least 5%) by the end of August I will give £1,000 to a registered UK charity of your choice.

Martin

Gorgeous_George

MSE_Martin wrote: »

... in British Gas' last financial report while commenting on the massive rise in wholesale gas prices it noted it intended to "maintain margins for our shareholders"... which is code for the fact that prices will rise...

...unless wholesale costs fall or BG find other ways to reduce overheads.

I know that is unlikely but worth, at the very least, a mention.

One factor that I cannot get away from is that comparison sites add to overheads. Whether they contribute enough to justify their expense is another matter that needs some investigation.

Maybe a better campaign would be to boycott the first company to raise prices by 5% per annum.

GG

MARTINS_DOLL

MSE_Martin wrote: »

Dear Randy,

Cynacism is a good moneysaving trait, but so is examining the evidence. If you'd read my article you'd see more detail on whats happening and the justification for my predictions.

One of the important pieces that was cut from the programme is switching takes three months. It likely the first price hikes will come this month; and they could well be 15-20% alone. If that happens then those people capping right now will already be on a cheaper tariff than the cheapest available - and they will never have gone onto the higher tariff as you predict.

As for "will prices rise" one of the things that was only touched on was that we know they're going to. For example in British Gas' last financial report while commenting on the massive rise in wholesale gas prices it noted it intended to "maintain margins for our shareholders"... which is code for the fact that prices will rise.

In fact Im so confident on this that I say here publically that if at least one of the major providers hasn't announced a substantial price rise (which we'll call at least 5%) by the end of August I will give £1,000 to a registered UK charity of your choice.

Martin

Yes it explains everthing. I just wish that people realised that.
Thank you Martin... xxx

Ducks_Bum

MSE_Martin wrote: »

Dear Randy,

Cynacism is a good moneysaving trait, but so is examining the evidence. If you'd read my article you'd see more detail on whats happening and the justification for my predictions.

One of the important pieces that was cut from the programme is switching takes three months. It likely the first price hikes will come this month; and they could well be 15-20% alone. If that happens then those people capping right now will already be on a cheaper tariff than the cheapest available - and they will never have gone onto the higher tariff as you predict.

As for "will prices rise" one of the things that was only touched on was that we know they're going to. For example in British Gas' last financial report while commenting on the massive rise in wholesale gas prices it noted it intended to "maintain margins for our shareholders"... which is code for the fact that prices will rise.

In fact Im so confident on this that I say here publically that if at least one of the major providers hasn't announced a substantial price rise (which we'll call at least 5%) by the end of August I will give £1,000 to a registered UK charity of your choice.

Martin

Hi Martin, I made a couple of suggestions to put on the front page for cutting gas and electric costs a couple of weeks ago but they seemed to have pushed down. They are both really good tips that will save many people lots of money (without cutting usage or changing the way they use their gas and electric). Would you be interested in it?

danny69

I hope you fixed! Prices are going up up and away, and we were all warned!

SiuLoong

MSE_Martin wrote: »

In fact Im so confident on this that I say here publically that if at least one of the major providers hasn't announced a substantial price rise (which we'll call at least 5%) by the end of August I will give £1,000 to a registered UK charity of your choice.

Its not even the beginning of August... glad I took your advice & capped

Shame for the charity however

Hobbin_Rood

MSE_Martin wrote: »

One of the important pieces that was cut from the programme is switching takes three months. It likely the first price hikes will come this month; and they could well be 15-20% alone. If that happens then those people capping right now will already be on a cheaper tariff than the cheapest available - and they will never have gone onto the higher tariff as you predict.

Does it honestly take 3 months to switch? If so, seems awfully long. If it is - how does it work? Can someone who has successfully switched go through the process?

And do they have to give you the rates that applied when you actually signed up? Or do you get the equivalent rate when the switch fully goes through? Confused.

Sounds like my decision to go with the fixed rates with my current supplier could be the easiest option....

bristolleedsfan

Hobbin_Rood wrote: »

Does it honestly take 3 months to switch? If so, seems awfully long. If

In my experience it usually takes just short of 2 months.

On 29th June i applied via quidco to switch to E.ON, Cashback was received by quidco last friday thats the quickest cashback settlement ive known.

[Deleted User]

You surely don`t think that capping is being offered for the good of the consumer? It does mean a nice steady input at a higher rate for the energy companies. There has been a lot of scaremongering and a lot of people have dived for the capping option but there are other, better ways of keeping a cap on energy costs ie look objectively at your energy usage first and foremost

seven-day-weekend

Swirched a few days ago to a capped tariff with my current supplier and beat the rise. Thanks Martin!