We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Debate House Prices
In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Trying to freeze utility prices - can a labour supporter please explain how?
Comments
-
Well I've been 'clever' lots of times. Every time I've changed the price has either gone down or up by only a little. This year might be the first time in years that my YoY utility cost doesn't fall. To date water and electricity usage are down on the same period last year but gas is up due to the cold spring.
If people want to or have to they can reduce both consumption and cost.
.
Funny whenever I plug my reducing utilisation into the comparison web sites the price always goes up.
When your already have efficient utilisation it is difficult to continually reduce or the economics don't stack up. No doubt I could fully insulate the floor of my house to generate a 1% return.
Replacing expensive energy efficient bulbs at 16% of their advertised life expectancy is doesn't exactly warm the cockles either. I guess yours last the full 8 zillion hours hours and more.
My last offspring has now disappeared to Uni so at least there should be some respite for a few years."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
grizzly1911 wrote: »I have no doubt it has become more efficient to a point. Whether we as consumers have benefited to the full extent I remain to be convinced.
What may be a benefit and in the ineterest of the suppliers and their investors may not be in the long term interest of the country as a whole.
It is not as though the market for their product can up and leave for something else the demand continues to grow.
I get what you are saying but companies don't and never will exist for the benefit of the consumer. That is meant to be where the regulator comes in I guess. Through privatization many efficiencies have been made, not least being a more productive workforce. It would be unreasonable to expect all these savings to be passed on to the consumer however I am sure much of it has. The question that needs addressing is what is an acceptable profit for these companies to make, and having a regulator that enforces it.
Freezing the price for 20 months to gain a few votes isn't really addressing the issue and reading Ed's letter to the companies it looks like his proposals will be even more confusing than the current system!0 -
Freezing the price for 20 months to gain a few votes isn't really addressing the issue
I agree it isn't and it won't but at least it is bringing the topic to the table.
Pricing/value is one thing lack of clear strategy for supply, and infrastructure going forward is a problem. I am not sure the energy spokesman suggesting it will be Miiliband's fault when the light goes out is necessarily a useful statement to make and lacks honesty and integrity."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
lies :eek:
quote:..
Its latest SMI says: “The rolling average net margin for a typical, standard-tariff, dual-fuel customer is approximately £95.” That implies a net margin of 6.7pc, based on Ofgem’s figure of £1,420 for a typical bill.British Gas said that Ofgem’s numbers were “not correct”. Phil Bentley, managing director, said that the regulator’s numbers were misleading and its methodology flawed. He said that British Gas’s own estimates put its profit margins per dual fuel bill per household at £24 after tax.
another view...........0 -
So it looks like the real cost to the consumer is more down to green policies than profit margins of the big six (who introduced these green policies?). I think the reality is we all need to get used to bigger bills in the future regardless of what the politicians think they can do. One thing I hope we can all agree on is that there is a definite need for serious further investment in the industry pretty soon or we really will have problems.0
-
My advice is not to be typical - looks expensive.
Whether it is typical or not, providing they are comparing apples and apples and the same consumption the observation stands.
If Ofgem can;t make head or tale of profit margins and profitability what chance the consumer?"If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
-
Profits at the big six energy companies have shot up 74 per cent since 2009 – dwarfing inflation’s rise of 13 per cent.
British Gas, E.On, EDF, npower, ScottishPower and SSE have enjoyed a £3.3billion surge in profits as households have been hit by a 29 per cent rise in bills.
Profits from the groups – which provide energy to 98 per cent of homes – rose from £2.15billion in 2009 to £2.22billion in 2010, £3.87billion in 2011 and £3.74billion in 2012.
The typical domestic dual fuel bill now stands at £1,420 a year, compared with £1,100 in May 2010, according to regulator Ofgem
poor old energy firms- not
As we now have three net profit percentages alluded to on this thread perhaps it is alack of clarity form the retailers, suppliers and distributors
According to Which -
‘With news of multi-million-pound profits, and spiralling energy prices consistently one of people’s top concerns, it’s no surprise that just a quarter of us trust energy companies,’ said Which? executive director Richard Lloyd.
‘People will not feel confident that they are getting a fair deal unless energy prices are simplified and the costs that make up our bills are open, transparent and subject to robust scrutiny.’
It is indeed a complex web and perhaps it is poor communication from the companies involved?
Rather than just the retail percentage what is the true percentage before inter company transfers etc that we can track back to the forward contract wholesale purchase price of the fuel.
Are dividends and earnings under pressure?
Perhaps that wouldn't such an easy message to sell?
"If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
Putting your love affair with the Tory party to points score against Labour instead of looking at the benefits of green policies to the environment is very sad.Thrugelmir wrote: »Who was Secretary of State for Energy and Climate Change between 3 October 2008 to 11 May 2010 ?0 -
Thrugelmir wrote: »Who was Secretary of State for Energy and Climate Change between 3 October 2008 to 11 May 2010 ?
Haven't seen any repealed since.
FIT reduced on SPV perhaps?"If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.2K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.2K Work, Benefits & Business
- 600.9K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards