Home fuel prices

Graham_Devon

Are they ever going to come down?

I know something went down 9% in the last couple of months, either gas or electric.

But it went up 40% roughly in the summer of 2008, due to the price of a barrel of oil.

That has now dropped two 3rds and did so before the end of 2008. Were in May, and were still being charged the rates which we were told, was because of the high price of a barrel of oil.

So, whats going on? Anyone in the know? Gordon Brown stated in January he was going to force the giants to reduce their prices to help the hard working families. However, he went extremely quiet after that and nothing came of it.

Then there was talk about it all falling in March. Nothing happened.

Are the giants just getting away with it?

Just got my bill and noticed no change in the price for the last 2 quarters, which bought my attention to this!

mewbie_2

Graham_Devon wrote: »

Gordon Brown stated in January he was going to force the giants to reduce their prices to help the hard working families. However, he went extremely quiet after that and nothing came of it.

If anything he is probably working out a scheme to slap a 'green' tax on it.

Graham_Devon

http://news.bbc.co.uk/1/hi/uk_politics/7787770.stm

That's what I was on about. The government looking "tough" on the suppliers.

What happened to all of that!? Why do they bother saying all this stuff if they don't act on it?


But Ms Harman's words are the starkest warning yet that the government will legislate if it is not satisfied with the energy giants' response.
She told MPs: "The energy companies must pass on the price cuts to consumers - both businesses and families. They must also treat all consumers fairly. "And if they don't, it won't just be Ofgem and the Competition Commission they'll have to worry about. We will change the law to force them to do it."

Aye, Harman ,you done well with that.

I might put together a website with all these promises on, to keep track of this governments complete failiure with absolutely everything they do!

More seriously, are all these words and sentences litterally meaningless, and just nodding at the electorate to appease them for now?

Mindyou, I believe the government have recently added green surcharges to our bills, Mewbie. The budget announcement of "x amount of pounds for some energy thing" was not from our tax, it will be added onto every customers bills. Was stated in discussion time from someone who works in the industry. So your right in a way, they looked, but they also found

Rochdale_Pioneers

The problem is that under the law they can't force suppliers to pass on any cuts at all. Privatisation brought competition. And the competitors all formed themselves into a nice cartel.

As the OP is so concerned by Labour's failings in this area, perhaps he can enlighten us as to the Conservative policies to force savings for the consumer? I'm all for highlighting failings of policy - as long as there is an alterrnative on offer.

tomterm8

Graham_Devon wrote: »

So, whats going on? !

It's all about exchange rates. We managed to briefly buy our heating oil at a 50% discount to last year. More or less by luck. Then, a week or so latter the exchange rate dived like a submarine, and quotes for oil went back to what they were last year.

Graham_Devon

Rochdale_Pioneers wrote: »

The problem is that under the law they can't force suppliers to pass on any cuts at all. Privatisation brought competition. And the competitors all formed themselves into a nice cartel.

As the OP is so concerned by Labour's failings in this area, perhaps he can enlighten us as to the Conservative policies to force savings for the consumer? I'm all for highlighting failings of policy - as long as there is an alterrnative on offer.

Well, see, this is the crux. While I would love to blame the tories, guess what. You sound more like Brown each day, where whenever someone asks anything of the government, even to back up with the government said they would do, its back to "well what is the tories policy".

Sigh.

THE TORIES are NOT in government. THEY have NOT been in government for a decade.

THEY can't change things.

LABOUR can, they are the people voted in, to run the country, NOT the tories.

Now thats over and done with, can I ask you then, why Harriet Harman said all of that, if actually, they can't do any of that?

Is it just like I said? Plain lies to appease the nation?

Please don't go on about the tories though, you can do that either A) when they have stated something, not Harriet, or when they are actually in power.

For now though, labour is in power. Labour said they would do that.

Graham_Devon

tomterm8 wrote: »

It's all about exchange rates. We managed to briefly buy our heating oil at a 50% discount to last year. More or less by luck. Then, a week or so latter the exchange rate dived like a submarine, and quotes for oil went back to what they were last year.

Doh, completely forgot about exchange rates!!

However, if it is exchange rates, how has the price just stayed exactly the same, at the highest point? Exchange rates didnt just magically push up the price to the top price of summer 2008? There should at least be some change?

mewbie_2

It's not all bad for Labour though. Apparently their mortgage help for people (announced with a great fanfare) has helped ONE person over the last three months.

tomterm8

There has been some change. Electricity prices fell by between 8-10% in february. But prices are set well in advance. Basically utility companies are giant financial companies, their profit is essentially determined by when they buy currency futures and whether they did good.

At the same time that the currency was starting to tank, the commercial paper market was also tanking, and it was hard for them to lock in the exchange rate. This meant most of them locked in the price a month or so latter than normal. They didn't do good.

EDIT: By the way, we can firmly blame labour for fuel prices... it is government policy to cause inflation, and gee, they succeeded. Whereas, in the US and Japan the fall in oil prices has lead to (what I think is temporary) deflation.

Graham_Devon

mewbie wrote: »

It's not all bad for Labour though. Apparently their mortgage help for people (announced with a great fanfare) has helped ONE person over the last three months.

Just to get in before Rochdale. I believe it ws actually a family of 3.

3 people.

mewbie_2

Graham_Devon wrote: »

Just to get in before Rochdale. I believe it ws actually a family of 3.

3 people.

Wow, that's 300% more than I thought. Must get my facts right next time.