MSE News: Npower to up energy prices by 10%

"Just over three million Npower customers will be hit with gas and electricity price rises from 1 December..."
Read the full story:

Npower to up energy prices by 10%

OfficialStamp.gif

Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.
«1345

Comments

  • Road_Hog
    Road_Hog Posts: 2,749 Forumite
    Combo Breaker First Post
    At least the boss of SSE had the guts to say that these rises were down to green taxes and subsidies. Wholesale gas prices are the same as they were 7 years ago, but retail prices are up 50%.
  • I just applied to switch to n power's 4 year fixed tariff on Saturday. Will this 10 percent increase affect me or will I still get the price I was quoted on Saturday?
  • minislim
    minislim Posts: 357 Forumite
    First Anniversary Combo Breaker First Post
    well it does these companies no favours. i alway not who was the first to introduce and the next couple to follow when it comes to price rises.

    for that i'd never ever use BG as they are always on of the first.

    npower had up to now been on my list of least to hike.

    but not anymore! they hiked up their prices less that 12 months ago. so thats them struck off too.
  • Pincher
    Pincher Posts: 6,552 Forumite
    Combo Breaker First Post
    Are they saying the green costs are going up every year?


    Are they building up a reserve for spending in the future?
    Or have they spent some money already, and is just passing on the cost? in any case, they should be able to say they intend to ramp up the retail price by roughly how much per year: 5%, 10% or 15%?


    The government is promising 30p per kWh to EDF for building the nuclear power plant, to be funded by the retail customer base. Assuming we pay for electricity:


    In 2013: 12p per kWh
    In 2023: 30p per kWh


    That is 9.6% annual increase (compound), which is consistent with this year's price rise.


    This is an interesting result: the short term fix and the long term fix are very close in overall cost, assuming 10% annual increase.


    The worrying thing is, how on earth do they expect people to pay in 2017, when they come out of the January 2017 fix?
  • DragonQ
    DragonQ Posts: 2,193 Forumite
    First Anniversary First Post
    I'd say the news that the government has guaranteed EDF double current electricity prices for their new power plant's generation is more worrying than the sheep putting prices up.

    Maybe it'll be a shrewd move and prices will be more than that by the time the reactor's built anyway.
  • HI Nicrit,
    I have the same question, I switched to npower yesterday for the fixed price until 2017. Today the news has said they will putting their prices up. It does say that this will take effect from December so hopefully it should not effect us. Can anyone offer any clarity on this?
    many thanks
  • Road_Hog
    Road_Hog Posts: 2,749 Forumite
    Combo Breaker First Post
    Pincher wrote: »
    Are they saying the green costs are going up every year?

    Not sure really. But when you're paying people 40pkwh (I think it has come down now) for their solar panel energy during the summer when it isn't required or needed and you're selling it back on at 12pkwh, somebody (you & I) is paying for that.

    Still, if you're related to the PM, there's plenty of money to be made in the green industry.

    http://www.dailymail.co.uk/news/article-2027708/Samantha-Camerons-father-nets-350-000-year-subsidised-wind-farm.html
  • pooch
    pooch Posts: 828 Forumite
    vashenca wrote: »
    HI Nicrit,
    I have the same question, I switched to npower yesterday for the fixed price until 2017. Today the news has said they will putting their prices up. It does say that this will take effect from December so hopefully it should not effect us. Can anyone offer any clarity on this?
    many thanks

    If you have already applied for a fixed deal, the prices you agreed to will be honoured, even if the switch hasn't actually taken place yet.
  • just had an email from energy helpline confirming this :)
  • what
    what Posts: 29 Forumite
    First Anniversary Combo Breaker First Post
    How and when can we revolt against this robbery?
    Heat and light are becoming a luxury in the UK!
    I really feel for pensioners who can't access comparison sites, they are at the mercy if these companies.

    We should be ably to buy from the generators + a percentage for future investment.

    Instead were just paying for call centres, advertising,corporate sponsorship and dividends.


    Green taxes my a#$€,

    This country is becoming a joke!
This discussion has been closed.
Meet your Ambassadors

Categories

  • All Categories
  • 342.9K Banking & Borrowing
  • 250K Reduce Debt & Boost Income
  • 449.6K Spending & Discounts
  • 235K Work, Benefits & Business
  • 607.7K Mortgages, Homes & Bills
  • 172.9K Life & Family
  • 247.7K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards