another London Energy price rise

Teak

We signed up only earlier this year thinking we'd save quite a lot. Escaped the prise rise in March for new customers, but now seems there is one for existing 'on-line' customers too

Got a letter from them this morning, stating due to rising costs for the whole industry they are going to have to increase their prices effective 1st June 2005.

Original Midlands dual-fuel prices when we signed up were:

Gas: 2.50p, 1.49p above 5860kWh
Elec: 8.01p, 5.41p above 900kWh

The new prices according to this letter are:

Gas: 2.701p (+8.04%), 1.699p (+12.01%) above 1465kWh (-75%) per quarter
Elec: 8.33p (+3.99%), 5.62p (+3.88%) above 225kWh (-75%) per quarter

So the prices have gone up, the Tier 2 price level has dropped down to a 1/4 but now it's based on per quarter usage.

Teak

The strange thing is, I'm pretty sure earlier this year working lunch had an energy expert on who said he expected prices to fall over the next 2 years. Citing over importing in by us so increased surplus, which we then sell on to the US?

BexTech

I too had the same letter though from SWEB, Midlands area too, so same rates as above.

No point in me switching yet, as the most I can save by switching at the moment is £2 a year, I only switch when there is a slightly larger difference.