Energy prices more expensive?

latin105fm

Hi all, this may be a stupid question but my MSE tariff from last year with British Gas is coming to an end so I've requoting and although its taking me to another provider (EON) its more expensive than this year (Oct2016-Oct17 £1,300) and next year +£300 is cheapest! Is that right? Have all tariffs from all providers gone up? So I should expect a hike but cheaper than the proposed £2k from British Gas if I stay with them.. thanks in advance.

System

latin105fm wrote: »

Hi all, this may be a stupid question but my MSE tariff from last year with British Gas is coming to an end so I've requoting and although its taking me to another provider (EON) its more expensive than this year (Oct2016-Oct17 £1,300) and next year +£300 is cheapest! Is that right? Have all tariffs from all providers gone up? So I should expect a hike but cheaper than the proposed £2k from British Gas if I stay with them.. thanks in advance.

Yes, prices have risen over the past 12 months - particularly, electricity. Have a look at separate suppliers for the cheapest overall deal.

singhini

OP - also worth thinking about is that deals and/or prices change quite quickly (I am on the same BG Oct 2017 Fix as you and just 2 weeks ago I looked into switching to Bulb via the MSE website. There was £25 cashback but ive just gone to check the deal and though the price for gas and electricity hasn't changed, the £25 cashback is no longer available). Its not a massive deal breaker but worth remembering things constantly change.


I did notice its cheaper for me to now switch to Npower via the TopCashBack website (only issue is I've never used that website before and the deal I looked at ends in 3 days)

PixelPound

Don't mention bulb, you'll get loads of offers of referral links :rotfl:
Suppliers seem to tweak all the time and a tariff one month won't be available next month, as they seek to get to top of comparison charts for different demographics.

Common sense would say each company has a fixed standing charge and then a unit tariff that takes into account price for the next year (speaking only about fixed tariff here) they may update tariff's on offer if its likely fuel prices will change over the next 12/18/24 months of the fix from when the previous tariff was on offer. Since wholesale prices are going up you would expect over time annual costs go up as unit costs go up. ...

Not always the case, looking at successive fixed tariffs from a supplier you can see unit prices go up, but standing charge will come down to soften any increase. Conversely you see unit prices go down and standing charges start to increase!

It is as if the standing charge isn't the cost to cover getting the supply to you and for infrastructure work etc but actually a price fluctuation dampener. :eek:

System

nic_c wrote: »

Don't mention bulb, you'll get loads of offers of referral links :rotfl:
Suppliers seem to tweak all the time and a tariff one month won't be available next month, as they seek to get to top of comparison charts for different demographics.

Common sense would say each company has a fixed standing charge and then a unit tariff that takes into account price for the next year (speaking only about fixed tariff here) they may update tariff's on offer if its likely fuel prices will change over the next 12/18/24 months of the fix from when the previous tariff was on offer. Since wholesale prices are going up you would expect over time annual costs go up as unit costs go up. ...

Not always the case, looking at successive fixed tariffs from a supplier you can see unit prices go up, but standing charge will come down to soften any increase. Conversely you see unit prices go down and standing charges start to increase!

It is as if the standing charge isn't the cost to cover getting the supply to you and for infrastructure work etc but actually a price fluctuation dampener. :eek:

A lot of truth in what you say; however, suppliers are often trying to attract a particular group of customers. High standing charges sitting alongside low unit costs attract high volume users. It is not just the number of customers that matter: it is how much they spend in a year.

footyguy

latin105fm wrote: »

Hi all, this may be a stupid question but my MSE tariff from last year with British Gas is coming to an end so I've requoting and although its taking me to another provider (EON) its more expensive than this year (Oct2016-Oct17 £1,300) and next year +£300 is cheapest! Is that right? Have all tariffs from all providers gone up? So I should expect a hike but cheaper than the proposed £2k from British Gas if I stay with them.. thanks in advance.

If you log onto your CEC account, you will see all the annual costs of all the tariffs from all the suppliers, based on the anticipated annual consumption figures you provide...