Economy Energy raising gas unit charge by 88%

Sterlingtimes

I have recently moved to Economy Energy with MSE. I have just seen an email increasing gas unit prices by 88% and electricity unit prices by 30%.

This is almost unbelievable.



Is this a contrived attempt to lose customers?

badboy13

I got the same email and couldn't believe the figures! Switching straight away

Sterlingtimes

The offer on which I contracted stated price guaranteed until 28/05/2019:

Sterlingtimes

I think that Economy Energy is in breach of contract in increasing its prices. I need to research further.

This behaviour may suggest that they are on the verge of liquidation.

molerat

More than likely a cockup in how notifications and tariff changes are connected.

Sterlingtimes

I have reviewed the contract terms. Economy Energy is definitely in breach of contract in seeking to increase prices before the tariff end date.

Sterlingtimes

If I were to switch and then they went into liquidation, would I be able to recover my direct debit over-payment?

poppellerant

Those new prices are indeed eye watering.

Using my own annual usage figures, I would see the following changes in prices.

Gas increases from around £285 to around £435. :eek:

Electric increasing from around £415 to around £500. :eek:

My direct debit would increase from around £59/pcm to around £78/pcm. :eek::eek:

nkt0609

ditto for me, extreme price hikes, although not as high as yours:

Current prices until 6th October New prices from 7th October Increase in cost
Electricity £399.28 £468.79 £69.51
Gas £448.17 £721.77 £273.60

Electricity increase = 19%
Gas increase = 61%

I joined on 15/06/2018 also on a fixed contract:
Tariff ends on
13/06/2019
13/06/2019
Price guaranteed until
13/06/2019
13/06/2019

Chriszammett

I am also on economy energy and received their email.

Current projection

Electricity increase of £162.67 (from £675.94 to £838.61)

Gas increase of £412.56 (from £583.17 to £995.73)

What to do?

I looked at switching tonight and it looks like they are still cheapest based on today’s pricing.

Do we wait until they change the price.

Is this allowed?! It seems ludicrous.

Chriszammett

I’ve just read the tariff details again and its fixed prices until June 2019?!