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MSE News: Power prices now UK consumers' biggest worry

edited 30 November -1 at 1:00AM in Energy
12 replies 2.1K views
Former_MSE_HelenFormer_MSE_Helen
2.4K posts
edited 30 November -1 at 1:00AM in Energy
This is the discussion thread for the following MSE News Story:

"Energy costs are now the top financial worry for most Britons ahead of rising food and mortgage repayments, says survey ..."
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Replies

  • davidgmmafandavidgmmafan Forumite
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    "The fact is that consumers can control how much they spend on energy by making homes more energy-efficient, and paying less for energy by moving to a competitively-priced energy plan"

    I'm getting more and more dubious about the energy savings claim, if everyone does this won't prices rise to compensate. Also whilst its true to say many people who have never switched can make significant savings (and the fact they don't switch says more about the industry then them in some people's eyes) there a a lot of people who DO switch to the most competitive deal.

    The biggest saving I would imagine is when they first do it, then they will have had price rises kick in. For some people on modest incomes even this increase could be devastating.

    I have seen figures on here before showing we have some of the cheapest prices for gas and electricity in the UK but I believe this is largely due to taxes here being lower than elsewhere. So it seems fair to continue to ask questions of the companies.

    I am not surprised that this is a big concern for people given the figures in the article. I wonder if comparisons for this sort of thing could be included in the financial education thing...
    Mixed Martial Arts is the greatest sport known to mankind and anyone who says it is 'a bar room brawl' has never trained in it and has no idea what they are talking about.
  • poppy10_2poppy10_2 Forumite
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    Part of the Furniture 1,000 Posts
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    Hate these rehashed press release 'news stories'. Why not just publish a big banner advert for uSwitch and be honest about it.
    poppy10
  • iscamaidiscamaid Forumite
    294 posts
    Part of the Furniture Combo Breaker
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    Poppy10 wrote: »
    Hate these rehashed press release 'news stories'. Why not just publish a big banner advert for uSwitch and be honest about it.

    Agreed. Getting a bit fed up with being told to switch power companies as a way to save money on energy bills. When I have done it the process has been complicated and lengthy and the prices have risen soon after switching. When all the companies are expensive and they all have complex, multiple pricing plans the government should look at regulating the way we are priced and urging for simplification of pricing before telling us to move companies.
  • PincherPincher
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    Let's set up a committee and start a board of enquiry straightaway.

    How did people live before they invented electricity?

    We need to get Lord Leveson to summon thousands of witnesses, so we can ask them how not having electriciy will ruin their lives, so they can claim apprpriate compensation by sueing the power companies. We will also ask very old people how they used to live, and accuse them of making things up.
  • oldvicaroldvicar Forumite
    1.1K posts
    So having doubled in real terms in recent years average fuel bills now account for just over 3% of typical household income, or 11% of the basic full state pension for a couple (not the same as the average pensioner couple's income which will be higher).

    Put this way, fuel prices don't seen that high. Plenty of scope for prices to double again (unfortunately).
  • NPowerUserNPowerUser Forumite
    409 posts
    Mortgage-free Glee!
    I actually think gas prices could fall quite a bit this year
    http://www.reuters.com/article/2012/05/30/markets-britain-gas-power-idUSL5E8GU4VC20120530

    I think falling oil prices, lower demand over Europe will have a knock on effect.

    I would normally think about switching this time of year but my gut feeling is to wait until September 2012 as I think better deals will be on offer then.

  • NPowerUser wrote: »
    I actually think gas prices could fall quite a bit this year
    http://www.reuters.com/article/2012/05/30/markets-britain-gas-power-idUSL5E8GU4VC20120530

    I think falling oil prices, lower demand over Europe will have a knock on effect.

    I would normally think about switching this time of year but my gut feeling is to wait until September 2012 as I think better deals will be on offer then.


    You only have to look at the results on the switching sites over the last few months to realise that, no matter how many times they claim the opposite is true, the energy companies themselves believe prices will probably reduce this year. My evidence? Most of the cheapest tariffs on the afore-mentioned switching sites are fixed/capped tariffs. It's not exactly rocket science. ;)
  • CardewCardew Forumite
    28.2K posts
    Part of the Furniture 10,000 Posts Name Dropper Rampant Recycler
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    Poppy10 wrote: »
    Hate these rehashed press release 'news stories'. Why not just publish a big banner advert for uSwitch and be honest about it.

    Couldn't agree more!

    I posted this on the other 'News Story' attributed to USwitch:


    Articles like this give the false impression that USwitch have some
    quasi-official status. USwitch are simply a commercial company with a vested
    interest in putting their name before the public so people will use them to
    switch suppliers. - Thank you Ann Robinson!





    We would be better served if the views of the Energy Saving Trust or even a
    Government department, were sought.


  • NPowerUserNPowerUser Forumite
    409 posts
    Mortgage-free Glee!
    Oil prices are falling faster than many expected
    http://www.oil-price.net/

    Great news, as rising oil prices were one of the trotted out excuses for rising energy bills.

    Lets hope a big fall in gas and electricity prices kicks in sooner rather than later!

  • PlushchrisPlushchris Forumite
    3.6K posts
    Poppy10 wrote: »
    Hate these rehashed press release 'news stories'. Why not just publish a big banner advert for uSwitch and be honest about it.

    Judging by todays "news" I think Moneysupermarket will be more likely... ;)
    Missing Tesco R&R since Feb '07 :A & now a "Tesco veteran" apparently! ;)
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