Is a new wave of price hikes about to hit the energy market?

Former_MSE_Faye

Co-op Energy and Ovo Energy have both raised their prices this week as wholesale costs surge...

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'Is a new wave of price hikes about to hit the energy market?'

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teddysmum

As usual: Prices rise and charges go up immediately. Prices drop and charges take ages to fall, if at all.

Smodlet

Which is the whole point of fixed tariffs, no?

worried_jim

Smodlet wrote: »

Which is the whole point of fixed tariffs, no?

I've just fixed mine ten days ago and it's the cheapest in eight years.

st999

My Eon MSE fix ends on 23 Sept 2016, I was waiting to see if there is going to be another MSE deal before then.

Should I swap now or wait until nearer then?

Wish I had a crystal ball.

molerat

mmmmmmm ....... a "news article" that links to a commercial venture, I believe they are called advertorials in the industry. The small players upped their prices months ago and this "news" comes out just before the big switch. Me, cynical, never :money:

wakeupalarm

teddysmum wrote: »

As usual: Prices rise and charges go up immediately. Prices drop and charges take ages to fall, if at all.

The usual excuses are
Price rises immediately due to Market Conditions
Price drops tiny reductions due to buying up to 2 years in advance.

Pincher

Ah yes, September looms.

I'm fixed till June 2017:

Gas 2.252p per kWh
Electricity 10.268p per kWh

Switch? Over my dead body.

Aesops fables, modified:

The Ant switched in the summer, so is nice and warm when winter comes. The Grasshopper played all summer, and didn't fix until September, so is ~£60 worse off.

Where is the moral in that? Not much that I can see.

[Deleted User]

I have at the moment the cheapest electric kwh rate in the UK I believe at 7.9 p kwh , gas is not bad at 2,2 p kwh with a Sainsburys collective so I would nt be too concerned...unless I move house.., which I am due to do in a couple of weeks time..so I am concerned that my cheap tariff wont look so good when I register with the new supplier, Npower, and have to dive into the market to get a new good deal .So the new MSE collective is of great interest to me now.

Smodlet

Pincher, what are your standing charges?

Sacsquacco, shucks, you just missed out on the July fix... best on the market for my area, anyway. Good luck with your move.

[Deleted User]

Thanks, I m finally getting away from Doncasters central multi cultural rough terraces to a pleasant 3 bed detached bungalow in a nice village where I was brought up .
I did`nt mention the standing charges because they re not good..24 p a day , but as I am on electric heating it did pay to get the best kwh rate for electricity in my case.