Outfox The Market...another price increase!! lol

Butch_Dingle

Just received an email from OFTM advising me of another price increase. That's the second one in successive months!! :rotfl:

Wholesale energy prices have continued to see unprecedented rises in 2018. A four-year high in oil prices has contributed to a further 18 per cent upturn in wholesale costs since June 2018.

As you are aware our model passes on wholesale energy costs to our customers, with a consumption based monthly membership fee. We have endeavoured to minimise the impact on our customers by keeping our unit rates in line with the wholesale cost, but as the wholesale costs continue to increase we have been forced to implement an unavoidable price rise.

From 13 December 2018 your electricity unit rate will change from 0.1206p/kWh to 0.1338p/kWh Your gas unit rate will change from 0.0372p/kWh to 0.0400p/kWh

Please note, monthly membership prices will remain the same.

Butch_Dingle

Also they've got their pounds and pence mixed up. Pretty sure my prices should read:

From 13 December 2018 your electricity unit rate will change from £0.1206/kWh to £0.1338/kWh Your gas unit rate will change from £0.0372/kWh to £0.0400/kWh

newsgroup_monkey

Time to switch then.


Mine hasn't gone up that high - new one is 12.40p and 3.88p respectively, but it's still saying People's Energy would save me £148.


Thing is, I'd rather go with someone like Toto. I've got a smart meter that's dumb right now, but the saving is only £60 a year and they say they'll take double bubble next month to get me through Winter.

Not sure about taking an extra £80 off me at the end of December :rotfl:

zaax

The have also got their prices wrong as they said my price would go up £888.80 / year. When I complained they said it was wrong and the increase should be £56.69

Blackbeard_of_Perranporth

Tell them to Foxtrot Oscar!

dont_use_vistaprint

Mines gone up £59.85 , I only switched on the 4th and I still haven't had my £189 credit from EON. Its all a bit of a circus and not really worth it for a saving of around £200 a year. Im also seeing not all OFTM tariff names are listed on Uswitch making it hard to compare

Are there any companies offering a service where they do it all for you for a fee and just keep you on the cheapest variable rates ?

[Deleted User]

Not sure what to do now. Too late to go for a fixed tariff? Energy Club hasn't been updated yet so still shows OFTM to be the cheapest for me with Pure Planet.

Secetbob99

I joined them in June and have had nothing but price increases this latest one is the last straw for me as it’s the 3rd or 4th in months it’s a crying shame there’s no regulation body that’s willing to stop rip off merchants like this and cap raises

I’m getting frustrated with the comparison websites too as when it asks you which tariff your on and you select the relevant out fox the market tariff, the actual unit rates aren’t accurate soon don’t get an accurate comparison

Just curious with who people are switching too a single im finding the market a nitemare due to inaccurate comparison sites why you cannot key in unit prices yourself on comparison sites I don’t know

Secetbob99

Most pointless reply ever Gokul

Your referring me to somebody just so you get 50 pound back jog on pal

Merlin139

If you want the same rate with no future rises then you should choose a fixed rate tariff.

pastysmuggler

I've had the same eMail and my rate (I'm off-grid for gas so am Electricity only) will now be 13.42ppKWH. This is the third increase since I switched in June. While I'm not happy about that, as others have observed already, the comparisons aren't valid because MSE is still showing the 10.53p rate which was correct when I switched. So I can't easily see if I'd be better of switching again.



At least if I do, there's no exit penalties as there's no fixed term involved.



Having said that - the customer service I've experienced so far from OFTM has been generally very good.