MSE News: British Gas hints at price rises 9 May 2011 at 1:26PM in Energy 10 replies 2.1K views

Former_MSE_Helen

This is the discussion thread for the following MSE News Story:

"The firm states in its interim report its costs are up 25% on last year, which could feed through to consumers ..."

Read the full story:
British Gas hints at price rises

Mr_K

Great news for shareholders. The share price has increase by 50% in the last year, this should help pump up the dividend nicely this year ! Glad I'm not a customer though.

Dan01

So, what can the individual do about it?

At a minimum take a second look at how our individual households are wasting energy of any type and be more consistent in our efforts to reduce the amount of energy used.

Sooler

Dan01 wrote: »

So, what can the individual do about it?

At a minimum take a second look at how our individual households are wasting energy of any type and be more consistent in our efforts to reduce the amount of energy used.

- that reduces the amount of gas sold - so energy companies put their prices up to compensate the reduced sales.

What you gotta do is use more gas - burn it to get costs down :D:D

NeverInDebt

emigrate to a warm country

Dan01 wrote: »

So, what can the individual do about it?

bewildergirl

I'm sick to the back teeth of British Gas and ALL fuel suppliers I've used in the past. Currently my gas bill for a three bed mid terrace is £104 a month. I rarely use the gas fire as the central heating is usually more than adequate and if I am cold I tend to sunggle up with a blanket on the sofa sooner than put extra heating on. The house is fully double glazed, heating obv not on now in the summer months, and even in winter was on a timer to go on when we were in the house, only have a 4 ring gas hob, everythign else is electric. I'm tied into Websaver 11 and can't switch. Factor in electric of £57 a month too, and then include a price hike....Jeez ..........financially squeezed.

I'm sure other folk here are also paying extortionate monthly bills but no-one I know in person has a bill even remotely as high as mine. :-/

horngkai

I am certain when the price for wholesale drop, we didn't hear of a price reduction until very late, and even then, the reduction was tiny compare to the hike they are planning!!!

Joyful

bewildergirl wrote: »

I'm sick to the back teeth of British Gas and ALL fuel suppliers I've used in the past. Currently my gas bill for a three bed mid terrace is £104 a month. I rarely use the gas fire as the central heating is usually more than adequate and if I am cold I tend to sunggle up with a blanket on the sofa sooner than put extra heating on. The house is fully double glazed, heating obv not on now in the summer months, and even in winter was on a timer to go on when we were in the house, only have a 4 ring gas hob, everythign else is electric. I'm tied into Websaver 11 and can't switch. Factor in electric of £57 a month too, and then include a price hike....Jeez ..........financially squeezed.

I'm sure other folk here are also paying extortionate monthly bills but no-one I know in person has a bill even remotely as high as mine. :-/

I can understand that amount in the Winter months but not the rest of the year. How old is your house and what is the insulation like? What is your yearly energy use for gas and do you have any debt within the monthly price you quote?

Pincher

Finally, a warning that tells me all will be well.



My gut instinct tells me that commodity prices have peaked.

Killing Osama Bin Laden is a signal that terrorism is being dealt with.

The Iraq and Afghanistan campaigns are winding down.

Sterling is rising against the dollar.

The gas re-fit in Qatar should be ending later this year.

Commodity prices dipped last Thursday.


My interpretation is the boards of the energy suppliers were briefed by their economist and traders, and were told that oil and gas prices will soon tumble, with energy futures falling off rapidly. This means they will be reducing variable tariff, as cash price comes down.

Conclusion: WE MUST PANIC AS MANY CUSTOMERS AS POSSIBLE INTO EXTORTIONATELY HIGH FIXED TARIFFS!

They made the decision over the weekend, and we have the "hint" of prices rise to come.

The energy traders will be jumping in when the futures prices have fallen enough. They will keep buying as the prices fall further.

I therefore expect E.On to bring out FixOnline 10 in July, which will not be the cheapest. FixOnline 11 will appear very quickly in August, as the traders keep buying. I am hoping that some weather forecaster will then forecast a MILD winter (totally wrong, naturally), so that the cash market hits the floor, and five hundred energy speculators are killed by the !!!!!, jump out of the window, and forced into bankruptcy. Hopefully, the cheap futures contracts bought in this bloodbath will be the basis of FixOnline 12, at the same reasonable level as my lovely FixOnline 8. Give me a good FixOnline 12 in October 2011,

Oh Lord, and I will never doubt that there is a God.

pstigar

I am in the process of chossing a Tariff with British Gas and they have advised me to go for:

WebSaver 11 (Save a guaranteed 6% on your Tier 2 rates until 31 May 2012. Cancellation fees apply until May 2012)

Or:

OnlineSaver 3 (This tariff gives you a minimum discount of 4% against our Standard tariff guaranteed until 30 April 2012 and there are no cancellation fees.)

I asked about fixing and was told I would pay premium of 9% on the standard tariff and can only fix until June 2012.

The advice from the customer adviser (repeatedly said this is personal advice and not set in stone) "Take one of the online tariffs because prices were unlikely to rise again this year as they already have."

He also said there was a tariff coming out in July 2012 with a fix premium of 25% heavily pointing to a significant price rise next year. Apparently in the last 4 years a premium has never been more than 9%

His final suggestion was to go for the OnlineSaver tariff and I can move to a fixed tariff without cancellation fees next year.

I was set on going for websaver 11 until I found out about possible price hikes and that it cannot be fixed. I am tempted to follow the advisers suggestion but I am dubious of their reluctancy to sign me up for a fixed tariff.

:mad:

Pincher

Stop talking about prices rising.


How am I supposed to stay cheerful and optimistic when people keep saying energy prices will go up. La la la la la, I'm not listening.
Prices are going down this winter, yippeee....:drool: