MSE News: Will providers cut or increase energy prices? Experts tell us their views

redux

Pincher wrote: »

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.

redux wrote: »

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It would save about £18 here to go for the latest MSE highlighted deal, but the first 2 Big Switch deals were superseded by rivals in 3 and minus 2 days, so all I'm thinking now is there may be some other decent deals coming fairly soon.

Scottish Power October 2016 has just arrived, and for here it is worth switching to.

Electricity units up 5.7%, gas down 10% (compared to March), useful for the winter coming, net £12 less for a year, but maybe a bit more than that better across the winter months.

I did ask about switching only the gas, leaving electricity on the March tariff, but this would lose the dual fuel discount, so only a slight annual saving.

There are reductions in new tariffs from several companies, but for this house and area that is currently the cheapest.

It's £6 a year more than the recent MSE CEC deal, first time an MSE big switch hasn't been beaten within days, but no exit fee, and who knows what happens next few months.

I notice that E.on's latest one year fix is very uncompetitive, about £200 a year more than the best rivals. I wonder if a large proportion of their custom is now coming via MSE's group promotion and they don't need to try quite as hard the rest of the year.

Laurensalive

I do not think that they will cut the energy prices. But it does not help that VAT is added to the bill. In reality the prices need to come down a lot. It is ok for all the preach that the home should be 18c minimum temp. But people cannot afford to put the heating on. Let alone the extra in electricity to power the boiler.

footyguy

redux wrote: »

Scottish Power October 2016 has just arrived, and is worth switching to....

Thank you for your suggestion, but for me (based on unweighted results - I'm currently about 4 months into a 12 month fixed contract) I found that this would cost about 7% more than I currently pay.

Looking individually, gas would cost about 8% more and electricity about 10% more (or 12% more based on lasted best tariffs available)

I would urge anyone to consult a comparison site to find the best deal for them.

redux

footyguy wrote: »

Thank you for your suggestion, but for me (based on unweighted results - I'm currently about 4 months into a 12 month fixed contract) I found that this would cost about 7% more than I currently pay.

Looking individually, gas would cost about 8% more and electricity about 10% more (or 12% more based on lasted best tariffs available)

I would urge anyone to consult a comparison site to find the best deal for them.

Tariffs vary quite a lot by region, and I did not intend to suggest that this would be the best tariff everywhere.

I fully agree with your comment about using comparison sites.

Indeed I have done so once or more per month for about a year now. For this area, that Scottish Power March tariff has not been beaten for dual fuel since its launch, until the very recent MSE big switch offer and 5 or so tariffs new in the last few days.

In my defence, I point out I was originally replying to someone who also found that the best tariff, and I also point out that both my earlier post and the one you reply to now include the phrase for this area.

However I've now edited that post to add for here in my first sentence as well.

molerat

redux wrote: »

Scottish Power October 2016 has just arrived, and is worth switching to.

That one is so far down the list in my area, 18DF, 15G and 12E, as not to be worth looking at, £128 more than I am currently paying along with the double whammy of being with the top of the complaints list supplier.

redux

molerat wrote: »

That one is so far down the list, 18DF, 15G and 12E, as not to be worth looking at, £128 more than I am currently paying along with the double whammy of being with the top of the complaints list supplier.

Thanks for your reply.

Please note my reply just above yours, where I hope I am pointing out again the presence of my qualifying comments for this area, and that I've just added another for here wording in my first sentence

Bark01

The article only talks about wholesale price. Electricity prices need to rise slightly to factor in the non energy increases, but gas should fall.

I doubt anyone will be putting up electricity prices in the current climate..

SSE's 6th month financial report is released today, its expected they will be over delivering on profit so will need to announce a price cut shortly after.

poppasmurf_bewdley

If energy prices do go down, they won't go down this side of winter.

Experience shows this is the way things go.

redux

poppasmurf_bewdley wrote: »

If energy prices do go down, they won't go down this side of winter.

Experience shows this is the way things go.

Last winter I swapped to new cheaper tariffs 5 times in 6 months.

The latest about one year fix tariffs are seeing gas unit prices down a bit more.

poppasmurf_bewdley

redux wrote: »

Last winter I swapped to new cheaper tariffs 5 times in 6 months.

The latest about one year fix tariffs are seeing gas unit prices down a bit more.

I bet they weren't main-stream tariffs that you were swapping between, which is what I was talking about.

And winter does not last six months, it lasts for three months.