Npower average 10% price rise (March 16th)

System

davidgmmafan wrote: »

Do we have any idea what the assumptions underpinning the smart metering project are based on?

Here you go:

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/567167/OFFSEN_2016_smart_meters_cost-benefit-update_Part_I_FINAL_VERSION.PDF

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/567168/OFFSEN_2016_smart_meters_cost-benefit-update_Part_II_FINAL_VERSION.PDF

It is interesting to note that smart meters will save every dual fuel customer £0.62 per year (about a £1 a year in retail terms) in reduced energy theft.

whattochoose

scaredofdebt wrote: »

If only it were so simple, standing charges make it less obvious to compare prices.

I'm with Ebico for gas, no standing charge, you just pay for what you use.

fredandwilma

Regarding the Npower Super Fix March 2021, the unit rate per kwh for both gas and electricity for me, is 60% more expensive than my current unit rates per kwh.

Maybe taking such a long fix isn't worth the extra amount you may pay for that fix currently, which in my case, would be double my current annual energy bill, taking into account the sc's are slightly cheaper with Npower. Unit prices may have risen to the level they are charging, by year 3/4 of this long fix? Then again, maybe not? Who knows.

They are definitely relying on consumer ignorance?

You have to balance the extra you will pay immediately, to any potential savings made in the future.

teddysmum

fredandwilma wrote: »

Regarding the Npower Super Fix March 2021, the unit rate per kwh for both gas and electricity for me, is 60% more expensive than my current unit rates per kwh.

Maybe taking such a long fix isn't worth the extra amount you may pay for that fix currently, which in my case, would be double my current annual energy bill, taking into account the sc's are slightly cheaper with Npower. Unit prices may have risen to the level they are charging, by year 3/4 of this long fix? Then again, maybe not? Who knows.

They are definitely relying on consumer ignorance?

You have to balance the extra you will pay immediately, to any potential savings made in the future.

A few years back, on tv Martin Lewis said that everyone should fix and for as long as possible.


Looking at the hiked rate and over all cost for a longer fix, I chose a 12 month fix and actually benefited as energy prices fell. Those on the long fixes will have really lost out.

Pincher

I think there was a British Gas five year fix that saved people thousands. Eve since, the long term fixes have all been rip offs.

I don't know whether I forgot to take my pills, but the Help Beat Cancer two year fixes from Scottish Power have been quite attractive, for about a year now.

Nothing beats my Scottish Power June 2017 fix though.
It will be such a price shock in July.

I am praying there will be a world economic recession, so oil plunges to US$25 by September 2017,
giving rise to a stonking cheap one year fix in October 2017, fixed to March 2019, covering two winters.
With Donald Trump on the job, it's right on schedule.

oldwiring

burnleymik wrote: »

Didn't OFGEM just recently release a report saying that there would be no real reason for power companies to increase their prices?

http://www.telegraph.co.uk/business/2017/01/19/ofgem-warns-big-six-not-increase-energy-bills/

Quote:
“It's not obvious that there should be significant price increases across the market and it would be up to suppliers to justify this to us and to their customers,” said Mr Nolan.

I would hesitate to say the highlighted mean the same thing. That no obvious reason is evident defintitely does not mean there is a reason. Transparent or not, a reason has to be real.

thor

Pincher wrote: »

I am praying there will be a world economic recession, so oil plunges to US$25 by September 2017,
giving rise to a stonking cheap one year fix in October 2017, fixed to March 2019, covering two winters.

I that happens you can bet that the energy companies will only pass on the tiniest fraction of any wholesale cost reductions.

thor

D_M_E wrote: »

It just confirms what we all knew - that the cost of the smart meter fiasco will and is be/being bourne by us, the consumer, whether we like it or not.

The utility companies should be blamed too as smart meters will save them billions in the long run due to vastly reducing the number of staff required to read meters. You never hear the likes of npower or edf moan about that.

Pincher

Had a meter reader on 2nd February 2017.

Should have taken a picture for souvenir.

Last of the meter readers.

I still remember a milkman ringing the door bell, asking us to get milk from him. So sad, he was in his late twenties.

The meter reader had a G4S coat on.
At least he can be relocated to manning machine gun turrets for gated communities, when the other jobless meter readers are roaming the streets, robbing rich baby boomers.

roddydogs

Oh dear, ive just switched to them as a recommendation of CEC.