Price Increases - Any More on the Way?

dealsearcher

So much smoke and mirrors from the energy companies. And much of the expenditure they talk about will be funded by the government, that is the tax payer.

Nuclear plants funded entirely by the energy companies? I don't think so. Wind farms funded entirely by the energy companies? I don't think so. In fact one big one in the news recently out in The Wash is funded by a Norwegian company.

Remind me what were the last profits of these energy companies?

dealsearcher

macman wrote: »

As soon as SSE announced their increase in September it was perfectly obvious that the others would follow. It's been widely flagged up on this forum, and everywhere else in the media. If you missed the boat on a cheap fix in the Autumn you can hardly blame that on being caught unawares.
No industry connection at all-what a cheap shot that is.

I have not missed the boat at all. The 'boats' are just swapping places all of the time. My concern is for those who are in grave danger from the Winter cold who cannot afford to heat their homes when these energy companies are all acting like a cartel and putting up prices to protect their profits. It's obscene.

You certainly sounded like an industry troll. How can anyone genuinely defend these practices when there are people out there who are really suffering?

bob_bank_spanker

dealsearcher wrote: »

I have not missed the boat at all. The 'boats' are just swapping places all of the time. My concern is for those who are in grave danger from the Winter cold who cannot afford to heat their homes when these energy companies are all acting like a cartel and putting up prices to protect their profits. It's obscene.

You certainly sounded like an industry troll. How can anyone genuinely defend these practices when there are people out there who are really suffering?

Would you like them to sell it at cost price? Is that the answer to you?

victor2

dealsearcher wrote: »

I am at present changing from Atlantic SSE to nPower and didn't want to be surprised by a sudden increase with nPower just after switching!

dealsearcher wrote: »

I have not missed the boat at all. The 'boats' are just swapping places all of the time....

You've missed the best boats, as you would have been aware if you'd read these forums regularly. Hope you're switching to a fixed price tariff, otherwise you're still going to get hit by the increases.

jalexa

dealsearcher wrote: »

I am at present changing from Atlantic SSE to nPower and didn't want to be surprised by a sudden increase with nPower just after switching!

At the time of that post there were a number of suppliers offering fixes of varying lengths. Two in particular (Edf & SP) featured fixes until late spring 2014 i.e. two winters - at less than 2% premium over current (i.e. pre-increase) typical standard tariffs - with no early termination charges.

Truly a "no-brainer", yet it seems "cold-shouldered" by millions of consumers.

People on fixed rates are not surprised by sudden increases. I don't enjoy the misfortune of others but for the last year there have been competitive fixed rate tariffs to spring 2014. I made my own choice 12 months ago. Many informed posters (industry insider or not:D) have clearly warned about this day.

When I checked this morning the tariffs I refer to were still on the comparison sites so, other than possibly careless exposure to early termination charges with NPower, you haven't yet totally missed the boat.

grahamc2003

dealsearcher wrote: »

So much smoke and mirrors from the energy companies. And much of the expenditure they talk about will be funded by the government, that is the tax payer.

Nuclear plants funded entirely by the energy companies? I don't think so. Wind farms funded entirely by the energy companies? I don't think so. In fact one big one in the news recently out in The Wash is funded by a Norwegian company.

Remind me what were the last profits of these energy companies?

So you think because a windfarm is funded by a Norwegian company, then our bills won't rise due to it? I know Father Christmas comes from that part of the world, but I doubt he's running a non-profit making company giving away free electricity to jolly foreigners. Probably just the opposite in fact - the Norwegian company has probably signed a very profitable 20 year, low risk deal whether its windmills generate lots (when it will receive payments far in excess of the market rate, even at times when the electricty isn't needed) or next to nothing (at times when the generation causes too many problems for the grid to handle, and they are instructed off thus collecting high compensatory payments) - all paid for by .... well you tell me.

The profits the energy companies make are ultimately decided by the government, who oversee them, and should they think they were excessive, they would force them down by various means at their disposal. Limiting demand by high prices is green-inspired government policy anyhow - when they say bills shouldn't rise much, they seem to think energy saving measures in homes will compensate for higher prices.

GooliesOfFire

Today for the first time after 8 years with British Gas non-fixed quaterly paid tariff I decided to switch! But it looks like I missed out on some good deals, oh well. I was one of those not bothered just paying.. but no more.

I'm with EDF Energy and their Blue tariff paid by monthly direct debit fixed until 2014.

verntern

The whole energy costs scenario follows the usual dismal pattern of cartel like price increases timed for the winter season. You either waste hours of your life constantly researching the 'best deal' to save a few quid or you accept that no supplier recognises any long term loyalty with having an account with them. They lose 'switchers' but are content to take the money from those who don't/can't use computers, do not know how to switch or adopt the attitude of 'I've been with them for years'.
About to hit the TV commercials is a pathetic, dreamy, romantic and expensive lifestyle advert from Eon. A kettle of hot water passed through various scenes of homeloving comfort and inviting people to buy into their 'new' tarrifs. Total junk. I see the harder hit consumers more interested in filling hot water bottles.

macman

dealsearcher wrote: »

I have not missed the boat at all. The 'boats' are just swapping places all of the time. My concern is for those who are in grave danger from the Winter cold who cannot afford to heat their homes when these energy companies are all acting like a cartel and putting up prices to protect their profits. It's obscene.

You certainly sounded like an industry troll. How can anyone genuinely defend these practices when there are people out there who are really suffering?

The facts behind the headlines are that BG made less than £30 per customer. £345m profit on a customer base of 12.6m. Their actual profit margin is about 4.5%. If you had a small business turning over £100,000 pa, would you find it reasonable if your profit of £4,500pa was called 'obscene'?
But of course screaming 'massive profit' headlines makes for cheap and lazy journalism.
How exactly do you think our energy needs for the next few years are to be supplied if investors cannot make a reasonable return?

bob_bank_spanker

macman wrote: »

The facts behind the headlines are that BG made less than £30 per customer. £345m profit on a customer base of 12.6m. Their actual profit margin is about 4.5%. If you had a small business turning over £100,000 pa, would you find it reasonable if your profit of £4,500pa was called 'obscene'?
But of course screaming 'massive profit' headlines make for cheap and lazy journalism.
How exactly do you think our energy needs for the next few years are to be supplied if investors cannot make a reasonable return?

Exactly. Ignorant people with no concept of reality rail against the profits energy companies make. Do they honestly think it would be cheap if their bills were 30 quid a year less? It costs a lot, and it's going to up continually. We were warned about this rise in March. We still have the cheapest gas in europe, my grandmother lives in Germany, if you think it's bad here, try a normal (-10 is normal) winter there.