MSE News: Npower to up energy prices by 10%

Former_MSE_Helen

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

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Npower to up energy prices by 10%



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Road_Hog

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%.

NicRit

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

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

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

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.

vashenca

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

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

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.

vashenca

just had an email from energy helpline confirming this

what

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!