Scottish Power promise to cut prices as soon as they can.

billsavings

"Scottish Power promised yesterday to cut prices for residential customers as soon as it could. "So long as we see a period of sustained reductions in wholesale costs and don't have any shocks this winter," said Nick Horler, the chief executive, "Scottish Power will cut its prices as soon as it can."

http://www.guardian.co.uk/business/2008/nov/18/scottish-power-household-bills-utilities

Joyful

In other words they are only saying what the other companies are. The main words are sustained reductions.

1carminestocky

Joyful wrote: »

In other words they are only saying what the other companies are. The main words are sustained reductions.

Have British Gas said this in the press? I must have missed it. And why are you describing your prominently placed (on your web site) 2012 Fixed Tariff as a 'Best Buy'? :rotfl:

lemontart

yeah sure cheques in the post

Ken68

Any price reductions will have to be well wrapped to appease the cappers.

Cardew

Ken68 wrote: »

Any price reductions will have to be well wrapped to appease the cappers.

Ken,

Why? What would the 'cappers' lose?

People don't cap hoping prices will rise, they cap fearing prices will rise.

I have been on a fixed tariff for 3 years and paying, by today's standards, very low rates.

I would be delighted if the reductions dropped prices below mine

Ken68

Doh...you right Cardew...got that wrong.
Being with Ebico, sometimes cannot get my head round complicated tariffs.
Surely someone fixing the price for several years and paying a premium (as perhaps you did) would lose out if prices are reduced.
There would be riots.

1carminestocky

Ken68 wrote: »

Doh...you right Cardew...got that wrong.
Being with Ebico, sometimes cannot get my head round complicated tariffs.
Surely someone fixing the price for several years and paying a premium (as perhaps you did) would lose out if prices are reduced.
There would be riots.

That's the problem when some people talk about gaining from their fixed tariff - they often don't factor in the fact that they will have been paying (sometimes way) over the odds before the 'normal' tariff catches up. They remind me of my uncle, he's a regular better on the horses but only tells you when he wins!

I have a feeling 2009 will be very different to any recent years with regard to gas and electricity charges as I genuinely believe there will be more than one price decrease next year and I genuinely believe, if the global recession continues into 2010 like most 'experts' predict, that gas and electric prices will continue to decrease along with most other commodities (the utility companies surely can't keep getting away with the apparent excuse that they somehow inhabit a parallel universe where 'normal' market forces don't affect them )

mech_2

If wholesale gas prices stabilise and oil prices bottom out at around $45 dollars per barrel, a 25% decrease in retail gas prices seem reasonable in the spring, and probably something like 10% off electricity.

wakeupalarm

billsavings wrote: »

"Scottish Power promised yesterday to cut prices for residential customers as soon as it could. "So long as we see a period of sustained reductions in wholesale costs and don't have any shocks this winter," said Nick Horler, the chief executive, "Scottish Power will cut its prices as soon as it can."

http://www.guardian.co.uk/business/2008/nov/18/scottish-power-household-bills-utilities

"and don't have any shocks this winter"

Now if they buy the gas and electricity 6-12 months in advance as they keep telling us now that the oil price has dropped massively, why does a shock in winter have to have any effect on the reduction in prices?

1carminestocky

wakeupalarm wrote: »

"and don't have any shocks this winter"

Now if they buy the gas and electricity 6-12 months in advance as they keep telling us now that the oil price has dropped massively, why does a shock in winter have to have any effect on the reduction in prices?

LOL! Good question. They really do extract the urine, don''t they? I blame the Govt, they let them do it (and get more tax revenue when prices are artificially high, of course)