GAS up 25% in weeks (BG)

Cardew

razzer wrote:

I'm sorry i got it all wrong folks...according to the press release.....

In its third quarter results, Scottish Power said profits from its energy retail and wholesale arm increased by £11 million to £52 million in the three months to the end of December.

:eek: :mad: WHAT?.....

WHY ON EARTH ARE WE FACING A PRICE HIKE ???

The government sold off their utility(gas/electricity/water/phone) assets to private investors(including 'Sid') and put the £billions they made from the sale into the national 'purse'.(Please let us not have a debate about the wisdom of that decision or how the money has been spent.)

Private investors, (who include Joe Public) put their money into a company to get a return on their investment.

The Government have ultimate control on the size of any increase in gas/electricity prices. The companies have to justify any proposed increase with the various regulatory bodies. If profits are excessive for the size of investment they can take action.

They have also opened up the market so the consumer has a choice of supplier for gas/electricity - its called competition! If it were possible to supply gas/electricty significantly cheaper all the time you can bet that a company would corner the market as we would all use that company. All that currently happens is you get temporary advantage from one company who then follow the others with a rise.

The profits announced - including today from BG - are for the previous period. The forecast increases for gas are taking into account current wholesale gas prices and future trends.

Whilst all of us are unhappy about the high prices for Gas/Electricity(and oil & petrol) we pay the lowest price for gas in Europe and our prices(in real terms) are no higher than in 1998. There was a radio programme covering a Commons Committee that recently discussed this subject.

gravesy_2

There was much talk about gas prices rising this year even before we entered into 2006. One month in and we are seeing the first of what will probably be several this year.

Once I heard the news last year about potential rises I was straight onto BG who at the time were offering to freeze prices until 2010. I can now look back and be greatful of making the decision but cannot help feeling sorry for those who missed the boat especially the elderly who will suffer greatly from these increases.

ahll

Hi,
I am with British Gas and as per Martains advice I went on their website to look into getting my gas capped. However I found the following

'Capped Price Electricity Customers
If you are a capped electricity customer, your prices will remain at the existing rates until your agreement expires on March 31 2006.

Please note: We are no longer accepting new applications for Price Protection 2007 and Price Protection 2010. The following information is for existing customers on these tariffs.'

So is that right you can't get your Gas priced capped now ?

superscotsman

beeniemac wrote:

Ok, you put a gas fire in every room and see if your bills go up, smartass.

I'm sorry, Beeniemac, but I have been through all my postings on this thread, and I can find nowhere where I suggest one puts a gas fire in every room. But I'll tell you where I did find it, and that's on a posting by that cowdew fellow. So you take the matter up with him. There's a good chap.

Thunderbird_2

Yesterday it was reported that Centrica, the owner of British gas and one of Europe's leading gas companies, would announce that consumer gas bills would go up by 25% by the end of February, because of the rising price of wholesale gas. Centrica, however, has rejected the claim. "We're denying that," says spokesperson Anne Morton. "We haven't made any decision on prices this year."

In turn, BG have said that it suspects others may raise prices first.

energyhelpline.com advise all customers to switch now to their cheapest option or their best capped option. If you shop around regularly you will be on a good deal

From https://www.energyhelpline.com

Thunderbird_2

ScottishPower have announced price rises today of 8% on electricity and 15% on gas from 1st March 06 on all tariffs except their capped tariffs.

The firm blamed a record 80% rise in wholesale energy costs in the past year for its decision to increase prices for its 5.2 million customers.

Scottish Power increased its gas and electricity prices last October. The firm's director Willie MacDiarmid said the company was continuing to absorb much of the impact of increasing wholesale costs. He said: "We have worked hard to protect our customers from this over the winter. However, we now need to pass on a further part of the increased costs from March when milder weather should help lessen the impact on bills."

Source: https://www.energyhelpline.com