MSE News: Npower price warning: thousands to see costs rise

DMC75_2

im on Standard Fixed Price 2011 / Monthly Direct Debit , does this affect me ?

notbritishgas

magyar wrote: »

I can't comment, I was merely stating what powers Ofgem do and don't have.

Not doubting you magyar, my point was that Npower's excuse/reason for this change was nothing to do with regulations or others would have to follow suit, more to do with making money.

slackda

interestingly i pumped the new numbers into a quick spread sheet and im on sol14, and on face value it dropped my bill by 50%......now i im pretty sure i need to recheck my numbers but although the daily stding charge increased massivly the actaul charge for the gas/elec dropped massivly.....i may have mis read the letter......

daverunt

I have just received my letter for online 10 increases

Gas
Tier 1 - 12.91%
Tier 2 - 21.96%

Electricity
Tier 1 - 4.7%
Tier 2 - 6.4%

The dual fuel discount month for me is September so I am staying until I receive my discount and moving for winter.
The thieves make very little out of me in the warmer months.
I use the shower at the gym so my water at home is heated for 20 minutes a day. Last year I got it down to £38 (68 units) April to September, with the discount of £47 I got a £5 rebate.
This year I will heat the water even less.
Must try harder not to pay the thieving swine.

ElianasGrandpa

Like many others, I received my letter from npower yesterday.

When wholesale energy prices are at their lowest for several years and npower's competitors are reducing prices, my Sign Online 10 rates have been increased by 14.7% for Gas and 10.1% for Electricity.

So I looked around and found Ovo were offering me rates in the Eastern region that were not only 19% for Gas and 44% for Electricity cheaper than the revised npower rates, but were even 7% for Gas and 38% for Electricity cheaper than the current SOL10 npower rates.

Thank you npower!

magyar

Ovo have an advantage as a new supplier into the market that they weren't hedged out when power prices were high so they can offer much, much cheaper rates.

JanMGreen

I recently switched from Eon to Npower's online Sol 17 because at that time it showed up as the cheapest one going. I haven't even had my first invoice yet. Will Sol 17 be affected, do you know?

AbbieCadabra

JanMGreen wrote: »

I recently switched from Eon to Npower's online Sol 17 because at that time it showed up as the cheapest one going. I haven't even had my first invoice yet. Will Sol 17 be affected, do you know?

not based on the info i received, the letter states these tariffs are affected: SOL 8,9,10,11,12,13,14 & web14.

mickthebrit

ElianasGrandpa wrote: »

Like many others, I received my letter from npower yesterday.

When wholesale energy prices are at their lowest for several years and npower's competitors are reducing prices, my Sign Online 10 rates have been increased by 14.7% for Gas and 10.1% for Electricity.

So I looked around and found Ovo were offering me rates in the Eastern region that were not only 19% for Gas and 44% for Electricity cheaper than the revised npower rates, but were even 7% for Gas and 38% for Electricity cheaper than the current SOL10 npower rates.

Thank you npower!

I did the same about two weeks ago as a SOL10 customer being ripped off by Npower to the tune of over £200/year. They had the cheek to say they would switch me to a cheaper tariff (SOL18) if I asked them! I went with OVO Fixed until July 2011 and will save over £220/year based on the OLD SOL10 rates. I am due to switch on 16th & 17th May according to Npower. As I've just heard that OVO are now pulling their cheapest tariff, I am unsure as to where I stand contractually with OVO. As I have accepted their original offer, agreed the price (consideration), we both have shown intent to create legal relations (a contract) and OVO have initiated the transfer from Npower I would expect that the commitments on both parties would be honoured. But hey ho! this is the energy market where awfully weak regulation has created a pack of wolves out there.

slackda

whoops checked my numbers and had put the new standing charge for my electricity as my standing rate and my estimate now is my bill will increase by 250 Per year.

Not sure when i signed up to npower, think it was june last year so may need to ride the next couple of months to get my £100 dual fuel discount.