NI Electric price rises

chunter

When are these thieves going to bring their prices down

1st April 2006
10.8 % rise (11.6 per unit)
http://www.4ni.co.uk/northern_ireland_news.asp?id=48847

1st October 2008
33% rise
http://www.viridiangroup.co.uk/default.aspx?CATID=216

1st Jan 2009
10.8 % reduction

Crude oil price at time of 2008 announcement?
Between 96 and 108 dollars.

Oil price now?
http://www.ioga.com/Special/crudeoil_Hist.htm
61 dollars.

Thieves of Viridian - give us our 33% back !!!!
And backdate it !!!

bribrian

And so say all of us.............. :beer:

almillar

This is what happens in a monopoly unfortunately. Same with Phoenix Gas. At least heating oil has competition in the market. Surely the Consumer Council should be onto this, or the energy regulator?

Parisien

Thieves "r" us = N Ireland utilities companies!!!

facingthefuture

is there not a regulator we could complain to?

chunter

5% reduction !
http://news.bbc.co.uk/1/hi/northern_ireland/8255961.stm

Who do these idiots think they're fooling?
Where's the other 28%, you crooks?

Must be some smell round NIE HQ, from the stuff that's coming out of their mouths...

bribrian

chunter wrote: »

5% reduction !
http://news.bbc.co.uk/1/hi/northern_ireland/8255961.stm

Who do these idiots think they're fooling?
Where's the other 28%, you crooks?

Must be some smell round NIE HQ, from the stuff that's coming out of their mouths...

Agreed, thieves of the highest order............... :mad:

Money_Grabber13579

I'm not defending them, but it's important to remember that 33% up is not the same as 33% down. Just to point that out to everyone who's looking for the other 28%!

If they did bring them down that much, they'd be far lower than they were to begin with!

bribrian

Money_Grabber13579 wrote: »

I'm not defending them, but it's important to remember that 33% up is not the same as 33% down. Just to point that out to everyone who's looking for the other 28%!

If they did bring them down that much, they'd be far lower than they were to begin with!

Yeah but 5%.... they're having a laugh!

Money_Grabber13579

bribrian wrote: »

Yeah but 5%.... they're having a laugh!

Well yeah, they'd probably need to shave another 10% off to make it be around the same price as it was before. But I don't see that happening, especially as oil prices are going up.

I always used to be told that what went up, must come down. Mustn't apply anymore!:p

Charco_2

Money_Grabber13579 wrote: »

I'm not defending them, but it's important to remember that 33% up is not the same as 33% down. Just to point that out to everyone who's looking for the other 28%!

If they did bring them down that much, they'd be far lower than they were to begin with!

If you add 33% on, you're adding one third. So effectively you've now got FOUR thirds of your previous price.

To remove this fourth piece you are removing a quarter. The price fall should have been roughly 25% - they are thieves!

(100 + 33% = 100 x 1.33 = 133
133 - 25% = 133 x .75 = 99.75)