Npower price cuts

Former_MSE_Guy Posts: 1,650 Forumite
I've been Money Tipped! Newshound! Chutzpah Haggler
This thread is to discuss the news item: npower cuts electricity prices


  • 1carminestocky
    1carminestocky Posts: 5,256 Forumite
    Cashback Cashier

    Energy supplier Npower is to cut electricity prices for UK householders by 8% at the end of March.

    The company said that the move would reduce the average annual household electricity bill by £43, but gas prices would be unchanged.

    It is the last of the big six energy companies to announce a reduction in either gas or electricity bills for customers this year.

    It comes six months after Npower put up electricity bills by 14%.

    "Wholesale prices are still higher than in 2007 but we are determined to reduce prices for our electricity customers," said Kevin Miles, chief executive of Npower retail.

    "We will continue to keep our costs and prices under review to ensure that we remain competitive and give our customers value for money.


    The usual patheticness (I'm sure that's not a word but it fits perfectly IMO)
    Call me Carmine....

  • SickStu
    SickStu Posts: 87 Forumite
    are there any details yet re which tariffs will & won't be getting reduced ?
  • Critchyboy
    Critchyboy Posts: 38 Forumite
    This is from the nPower website - am on SOL13 so it doesn't look like my electricity is going to be reduced at all!

    Sign OnlineVersion StandardElectricity Economy7
    4 Most Areas All Areas
    5 All Areas All Areas
    6 All Areas Some Areas
    7 All Areas Most Areas
    8 One Area Some Areas
    9 Some Areas Some Areas
    10 No Changes Some Areas
    11 Some Areas Some Areas
    12 Some Areas Some Areas
    13 One area Most Areas
    14 No Changes No Changes
    Web 14 No Changes No Changes
    Fixed No Changes No Changes

    There you have it!
  • Critchyboy
    Critchyboy Posts: 38 Forumite
    Sorry - it's not come out right!

    On the above as you read across the line it should read like this:

    SOL 4 - Standard Elec: Most Areas. Economy 7: All Areas.

    ie most areas on Standard and all areas on Economy 7 will see a reduction!
    and so on...

    Remember though, that regional variations will apply as to how much of a % the elec drops...

    Think I need to shop around now!!
  • Former_MSE_Archna
    Hi all,

    npower has confirmed that SOL 14 will not be included in the price cuts.

    MSE Archna
  • beingjdc
    beingjdc Posts: 1,680 Forumite
    So if I'm on SOL8, the likelihood is that I'm not going to be any better off now than if I had already switched to the slightly cheaper SOL14 (waiting for the round of price cuts to finish, but thinking I may as well now!).

    Hurrah, now I have more thankings than postings, cheers everyone!
  • 1carminestocky
    1carminestocky Posts: 5,256 Forumite
    Cashback Cashier
    Yet more back up for my long-standing belief to never get myself involved with any company/tariff that requires a min. term commitment in order to get the price shown on the switching site. They effectively have you by the short and curlies and, as demonstrated here, will take the mick...
    Call me Carmine....

  • housebug
    housebug Posts: 201 Forumite
    This is really disappointing. For the utility companies I mean. They'd originally planned another juicy rate hike in the New Year. Then boom! the bottom falls out of the World economy. Great must be the consternation in the Big Six boardrooms. :D

    Seriously though, the mega hikes implemented in 2008 don't half point to some insider information on the part of the energy companies. Get the rates up before the horse drops dead. I for one don't buy into the excuse so frequently given that the UK consumer was being undercharged for the last decade and the last batch of rate hikes were "catch up".

    The foreign owned companies subsidise their domestic markets by overcharging elsewhere. Elsewhere being here, for one. The domestic suppliers aren't going to do anything as silly as give the consumer a bit of a break and undercut the foreign companies, thereby forcing them to lower their rates in order to compete. Gosh no. It's everyone on the gravy train and maximise that bottom line. Don't get me wrong, I have no problem with profit, but with incomes dropping and the cost of living rising, this is one area that could offer decent savings to consumers.
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