To Cap or Not... more info and central discussion

MSE_Martin

I know some people are confused about the energy capping situation with British Gas' new and old tariff... I've done a note here

http://forums.moneysavingexpert.com/showthread.html?t=1064737

thymely

Hi,

Are green energy prices likely to go up in line with the gas & electricity tariffs, do you think?

I'm currently with Southern Electric's better plan = 100% hydroelectricity, but Greenhelpline (part of energyhelpline) mentions that Southern Electric's 'fuel mix' contains only 10.2% comes from renewables, so are they likely to spread the extra costs from oil/gas onto green plan customers?

Wondering whether to switch to EON Capped if green energy tariffs are likely to increase too? Electricity only (no gas in flat), paying £27 monthly direct debit.

Any advice gratefully received, as have been umming/aahing for a couple of days now...

Thanks
thymely

CHIHUAHUA

Thanks Martin for warning us all of the impending/ongoing price rises - i heard the Radio 2 show and switched on Friday to SP capped even though my existing supplier Atlantic are curently cheaper.
Thanks for saving me the worry of all the probable increases and once again helping me find the best deal. :T You're a star :A

leedspete_2

does anyone know what to do know then either to get a capped deal or not as i am with southern and they are usually the last to increase prices.do southern have a capped deal

nickyt

I have only changed supplier within the last couple of months. I have changed from british gas to southern electric better plan with the free meter for checking how much your using. I have rung them up to change to a capped and they say they don't do a capped tarif.

So should I change supplier again and can I do that already, with not being with them very long at all. Also would I have to return the meter usage thing, as this is good for reminding you to turn things off.

Sorry for all the questions but I am just so confused with it all. Anyone who could help me in any way at all would be great. I just want to do the right thing.

Quentin

There is no reason why you can't switch supplier at any time.

As far as keeping the gift, you probably can, but to be sure, check any conditions that covered the gift offer.

tonyhamm

All the doomsday stuff about never ending price rises from the energy cartel is rubbish.
Unlike the UK, most of Europe has no North Sea gas reserves, yet the price of European Gas has been far cheaper than UK gas since 2003!
The gas market is rigged by E.On/EDF etc.. who hold gas back from the UK despite higher prices.

British Gas is owned by Centrica, who in turn own a big slice of gas supply in the North Sea. The supply of gas has been ARTIFICALLY linked to oil (petrol) in supply contracts, despite there being no real shortgage at present.

We have to import 40% of our gas only because we have no gas storage built in this country. So what happens is we export our own gas from the north sea to europe, and then import it again during high demand!

The 70% decline in BG's profits was a decline from last years abnormal massive windfall one off profits. However, Centrica, the wholesale supplier of gas, who owns British Gas is more than making up for any smaller margin with massive prices for UK wholesale gas which are more expensive than European Gas!

The future of gas? - Massive producers of gas are coming online - Norway is raising its gas exports - one field - the Troll Field is going to produce collosal amounts of gas going forwards.

All we can hope for is a government that actually tackles these issues - if even one issue is resolved - like the rigged market which prevents us getting gas from europe for European prices, or the ridcioulus oil indexation then electricty and gas prices will drop massively as energywatch say.

1carminestocky

I (I'm ashamed to admit) was 'panicked' into going for British Gas's Price Protection 2009 hours before they announced the 35%/9% increase. I was with them on Click 5 previously. Now the dust has settled, I have looked again at the figures on my projected usgae over the coming 12 months. i have worked out the ACTUAL cost per unit of gas and leccy based on the 2 tier pricing and have come out at 13P for electric (Click 5 currently 10P) and 4p for gas (Click currently 3p).

A question: I know Click 5 hasn't increased yet, but if it was to increase in line with their other tariffs...why am I now paying 30% per kw more on electric than previously? They are making me take one for the team, basically. I think I'm going to exercise my right to cancel the agreement and go back to Click 5. At least that way I don't have to pay BG £75 if I swith (which I undoubtedly will) for cashback purposes.

philip1982_2

I've done a comparison today, and I'm expecting to pay an extra £350 per annum to fix both elec & gas (I've recently switched Electricity in the last 6 months).

My yearly spend at the moment is £1126, so my new tarrif will be well above the 20% price hike expected....I'm with EON for elec, and Southern for Gas - both of which I thought had increased prices already.

So, it probably isn't worth me capping is it?

adewton

Me too!! I will be £385 out of pocket if I moved to capped deal with BG. Does it worth it?