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MSE News: Will providers cut or increase energy prices? Experts tell us their views
Former_MSE_Helen
Former MSE 2.4K Posts
in Energy
Wholesale prices – what energy providers pay for gas and electricity – continue to fall, but what does this mean?...
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Will providers cut or increase energy prices? Experts tell us their views
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Will providers cut or increase energy prices? Experts tell us their views
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.
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Available retail tariffs dropped until about March this year, then gradually rose a bit, then fell again, but haven't quite matched the low point of a few months ago. Nobody in the article seems to mention this.
If anybody asks, I will say: "but I bought these contracts a year ago, at a much higher price, you can't ask me to drop my prices now, it's just not fair."
Mark Todd - 'energy expert' which deliberately does not tell you anything in an article about energy
Mark Todd, according to the Sun
http://www.thesun.co.uk/sol/homepage/news/6324742/Comparison-website-boss-says-being-honest-with-customers-would-be-bad-for-business.html
On what 'experts' said in previous articles, here is Martin Lewis in 2013
http://www.itv.com/thismorning/hot-topics/martin-lewis-energy-price-increases
If you followed his advice it probably cost you.
Listening back to ML on ITV, he thinks vertical integration is why energy prices are inflated but this is not what MSE said in its submission to regulators investigating energy prices. MSE voted for switching to bring prices down, because it is a switching website!
So invest in insulation and air tightness and put those rentier companies out of business.
but what about economy 7 no mention at all,
also fails to give the actual prices charged.
You will have to log into the cheap energy club website and enter your details to find out the costs. As the cost will vary from region to region, so there is no 1 standard price to publish.
The £60 penalty wipes out all the savings, including cashback, if I did switch from the penalty free Scottish Power March 2016 fix. The cheaper electricity is offset by the increase in standing charge. So, playing the waiting game for now.
Same here. For this area that particular Scottish Power tariff has been the best dual fuel offer in the last year or more, and about £30 a year cheaper here than the better of the previous MSE big switches.
It would save about £18 here to go for the latest MSE highlighted deal, but the first 2 Big Switch deals were superseded by rivals in 3 and minus 2 days, so all I'm thinking now is there may be some other decent deals coming fairly soon.
I jumped ship from the MSM eon to the MSE eon for a £15 saving after I (just) received the £30 cashback from MSM. I pretty much flipped a coin on whether to hold fire or switch as the penalty will be covered by the total cashback I will receive this year, I know logically they should be treated as two different events but emotionally I won't see it as a loss.
I doubt the drop over the next few months will make a huge difference, but as long as EON also offer a better tariff then I can switch to that without paying exit fees anyway.
My main concern was the timing of the end of my fix. I recently ended my really cheap BB & line rental deal at a point where there weren't any really cheap deals but staying on the standard rate with my incumbent supplier for one month would cost 3 times what I switched to. Subsequently there have been deals that were equivalent to my old deal, but the risk was that I could wait so long that even if I got it free for a year then I'd still have paid more.
I admire you for holding on because I didn't have the nerve. We may find out in 12 months what the winning strategy was, or maybe in 12 months after that. A long term fix is just too much of a gamble for me though.