Ofgem to Review Energy Price Cap

Astria

rsmithwhite said:

Many thanks for your reply.  So this is OK for EDF to increase the tariff rates?

You are no longer on a fixed tariff, so yes, they can increase the tariff rates from the date they told you they were going to change them.

You are welcome to shop elsewhere if you think you can get cheaper rates, but good luck with that at the moment and it's likely to go up again by next April when the cap is lifted again.

BobT36

MWT said:

pokora said:

savers_united said:

They are pushing for a quarterly review instead of the current twice yearly. So prices more quickly reflect the actual wholesale price. 

Always up and for their benefit.

Over the last 5 years the cap has gone down on 3 occasions, and when suppliers are being forced to sell below cost it is hard to argue that they don't have a point..

True but then the answer is to get rid of the stupid middlemen entirely. All these additional businesses do is mean costs are higher due to profits being needed to be paid to the CEOs and stakeholders

MWT

BobT36 said:

MWT said:

pokora said:

savers_united said:

They are pushing for a quarterly review instead of the current twice yearly. So prices more quickly reflect the actual wholesale price. 

Always up and for their benefit.

Over the last 5 years the cap has gone down on 3 occasions, and when suppliers are being forced to sell below cost it is hard to argue that they don't have a point..

True but then the answer is to get rid of the stupid middlemen entirely. All these additional businesses do is mean costs are higher due to profits being needed to be paid to the CEOs and stakeholders

It is an old debate, but it would be wrong to assume that reverting to a 'nationalised' solution would automatically deliver low prices...