Energy prices.... consumers need to get a grip.

ihateyes

http://www.energy.eu/

I will admit to do work for one of the big six, but not in an energy dept.

It bugs me everytime a price rise is announced as people who dont have a clue jump on the bandwagon accusing the companies of increasing their profits.

Look at the above link and appreciate what a fine position this country is in for Gas/Electric prices.

For Gas:

the UK is the 3rd cheapest.... only Estonia and Romania are cheaper....

The ave unit price is 0.0419 euro, whereas Sweden the most expensive is 0.1226 euro.

For Electric:

The UK is 7th cheapest....

The ave unit price is 0.1419 euro, while Denmark is 0.2982 euro.


Too many people arent aware of these stats.

We have had it good for many years, and we have been used to it..... but other countries have it harder.....

MillicentBystander

To try and compare the prices of a commodity when they aren't both charged in the same currency (let alone the same country) is futile. So what if the £ rises against the euro by 50% tomorrow? Will our gas and electricity prices then be the cheapest in Europe?? It's basically a nonsense and used by industry apologists. At least you have let us know you work in the industry so kudos to you for that.

MothballsWallet

What a lot of people don't know (including people in energy firms) is that we're buying in gas from the Orenburg region of Russia at the moment.

MillicentBystander

MothballsWallet wrote: »

What a lot of people don't know (including people in energy firms) is that we're buying in gas from the Orenburg region of Russia at the moment.

Would this be from the company that indirectly financed Chelsea's rise to prominence and now sponsors them?

YorksClare

That does not make sense at all! Even on economy 7 tariff, which I use, the best price I have found for night-time energy is 5.5 pence, or 4.4 euro cents. The daytime energy is usually about 15 pence per kWh, and if it is not on E7, it would be about 9 pence per kWh. A euro exchanges at the moment at about 1.23 euro per pound, or to look at it the other way, a pound is about 81 euro cents. So 9 pence per kWh is just less than 8 euro cents.

I have been scrutinising the prices over the last two nights as I prepared to change supplier and considered changing off E7, so I have read loads of numbers. None match the idea that anyone in Britain on standard rate electricity could get it for 4.19 cents, which would be about 5 pence! Not for several years. Unless I have missed seeing some super-cheap supplier?

2010

consumers need to get a grip.


The government needs to get a grip and refer them to the competition commission.
They seem to be in a cosy cartel with no intention of competing against one another.
They all make massive profits and I believe 4 out of the 6 are foreign owned.

Of course the other problem is the government`s crackpot "green targets" which add extra costs to energy.
Wind farms that take 32 years to break even on cost and will probably be worn out long before then, to name but one.

C_Mababejive

I agree with the OP. This country's energy markets are one of the most fiercely competitive in the world. People need to learn to put some clothes on when its cold instead of flouncing round the house in a t shirt.

I would also advocate fitting prepayment meters which would educate people and serve as a means of downwardly managing consumption.

2010

The energy companies seem to have the strangest business plans on earth.

Use less.

What they really mean is they`re useless (at competing).

MillicentBystander

C_Mababejive wrote: »

I agree with the OP. This country's energy markets are one of the most fiercely competitive in the world. People need to learn to put some clothes on when its cold instead of flouncing round the house in a t shirt.

I would also advocate fitting prepayment meters which would educate people and serve as a means of downwardly managing consumption.

You would think this was sound advice and it should be but it matters not how little we use. The energy companies need to maintain their profits so they can pay their dividends and keep their shareholders happy. They will simply increase their prices accordingly to make up for the shortfall in turnover. Believing this won't happen is just wishful thinking, I'm afraid.

spot1034

YorksClare wrote: »

That does not make sense at all! Even on economy 7 tariff, which I use, the best price I have found for night-time energy is 5.5 pence, or 4.4 euro cents. The daytime energy is usually about 15 pence per kWh, and if it is not on E7, it would be about 9 pence per kWh. A euro exchanges at the moment at about 1.23 euro per pound, or to look at it the other way, a pound is about 81 euro cents. So 9 pence per kWh is just less than 8 euro cents.

I have been scrutinising the prices over the last two nights as I prepared to change supplier and considered changing off E7, so I have read loads of numbers. None match the idea that anyone in Britain on standard rate electricity could get it for 4.19 cents, which would be about 5 pence! Not for several years. Unless I have missed seeing some super-cheap supplier?

I think you're looking at gas prices. Scroll down to the next table for electricty.

ihateyes

2010 wrote: »

consumers need to get a grip.


The government needs to get a grip and refer them to the competition commission.

so when we are 3rd cheapest for Gas, 7th cheapest for electric how is this not competitive?