MSE News: British Gas and Sainsbury's Energy to cut gas prices by 5%

"British Gas and Sainsbury's Energy have revealed gas price cuts of 5% from 27 February, but you can save by switching..."
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British Gas and Sainsbury's Energy to cut gas prices by 5%

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  • Consumerist
    Consumerist Posts: 6,310 Forumite
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    It's my guess that the rest of the "sheep" will grudgingly lower their variable prices marginally after winter has passed. There are so many "sticky" customers, who have never switched before, that small price changes on their evergreen tariffs have a significant impact on the suppliers' revenues over winter.

    I've just moved to a March 2016 fix knowing that prices might dribble down further over the summer but you have to take the plunge sometime or risk an automatic transfer to one of those evergreen tariffs.

    It will be interesting to see how prices will look in March 2016.
    >:)Warning: In the kingdom of the blind, the one-eyed man is king.
  • Well whoop dee doo!
    A whole 5%, when the costs of fuel has plummeted by half, greedy energy companies need to be forced to give us a fairer deal
    Bet they will be crying when the results of such a mild winter impacts on their profits!
    Blessed are the cracked for they are the ones that let in the light
    C.R.A.P R.O.L.L.Z. Member #35 Butterfly Brain + OH - Foraging Fixers
    Not Buying it 2015!
  • robin58
    robin58 Posts: 2,802 Forumite
    Well whoop dee doo!
    A whole 5%, when the costs of fuel has plummeted by half, greedy energy companies need to be forced to give us a fairer deal
    Bet they will be crying when the results of such a mild winter impacts on their profits!

    Still yet another 40 days for them to make hay(money) before the price reduction comes.
    The more I live, the more I learn.
    The more I learn, the more I grow.
    The more I grow, the more I see.
    The more I see, the more I know.
    The more I know, the more I see,
    How little I know.!! ;)
  • Pincher
    Pincher Posts: 6,552 Forumite
    Combo Breaker First Post
    Does anyone actually say: "I will switch to the standard tariff" of any supplier?
  • What happened to moneysavingexpert's traffic lights that we had to follow or was that made up sales patter?

    Interesting alternative view on future energy prices on Radio 5 consumer podcast yesterday.
  • oldskoo1
    oldskoo1 Posts: 616 Forumite
    Name Dropper First Post First Anniversary Combo Breaker
    Insulting when gas prices have fallen 20-30% haven't they?

    I know these guys forward buy. Cheeky that the drop comes in when the weather warms up too.

    Greed
  • lstar337
    lstar337 Posts: 3,441 Forumite
    First Anniversary Name Dropper First Post Combo Breaker
    oldskoo1 wrote: »
    Insulting when gas prices have fallen 20-30% haven't they?

    I know these guys forward buy. Cheeky that the drop comes in when the weather warms up too.

    Greed
    Wait until wholesale goes back up, prices will rise on the same day then. :D
  • Pincher
    Pincher Posts: 6,552 Forumite
    Combo Breaker First Post
    I seem to remember gas was about 2.2p per kWh about 15 years ago. It's now about 3.1p on the one year fix deals. Does anyone know how much 2.2p would be now, inflation adjusted?
  • Pincher wrote: »
    I seem to remember gas was about 2.2p per kWh about 15 years ago. It's now about 3.1p on the one year fix deals. Does anyone know how much 2.2p would be now, inflation adjusted?

    Using year 2000 as a starting index (RPI) the 3 different sources I've just used have all said prices today are 150-152, therefore 2.2p then is worth about 3.3p now.
  • What is the general advice following this news?

    I've been with Sainsbury' energy for only three months or so now but do have the option of switching tarrifs (my current Oct 2015 fix will not take account of the announced drop). Is it worth changing tarrifs now? Are the price drops even in place with their current offered tarrifs and can I just switch tarrifs again after every drop is announced?

    So many variables and 'what ifs' but that's how they get us I suppose.
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