NPOWER with a 17% hike in prices - Here we go

mouk

happyaslarry wrote: »

when do the new charges start?

05/01/2008

according to teletext

:mad:

Chester_Draws

With price rises of this magnitude, I would take a meter reading tomorrow, and email to them , keeping a copy for yourself.

You can just imagine how estimated bills might roll in too low so they can claim higher costs on the next one.

magyar

Chester_Draws wrote: »

With price rises of this magnitude, I would take a meter reading tomorrow, and email to them , keeping a copy for yourself.

You can just imagine how estimated bills might roll in too low so they can claim higher costs on the next one.

I'm not aware anyone has the technology to do this.

jamesd

The_Economist, supply and demand. Buying for mainland Europe reducing excess supply of gas here. Increased use of gas for electricity generation causing greater demand for gas for that and also increasing electricity prices if gas prices increase.

Longer term solution: more nuclear power. Intermediate term solution: more coal power. Irrelevant but nice non-solution: more renewables in tiny quantities that don't really make much difference as a percentage of the total demand for heating and power. Long term solution: maybe fusion power.

magyar

The_Economist wrote: »

I would i be correct in saying that its not just a 17% increase because off the VAT element so it is actually more.

No, it's still 17%.

The_Economist wrote: »

Could someone explain why and how the wholesale prices keep going up? :mad:

Basically because the price of oil has gone up so much. There are other micro-issues, but it's principally this (plus the strengthening economies in Eastern Europe).

The_Economist wrote: »

How much off the profit these companys make stays in this country.

In reality, most of it. They employ British people, buy British services. They may be owned by foreign companies, but they all operate as UK companies and most of that profit would be reinvested in this country.

The_Economist wrote: »

Are all utility companies now owned by other countries.

All but two: Centrica (British Gas) and Scottish&Southern.
The others are German (E.ON and npower), French (EDF) and Spanish (Scottish Power)

jamesd

Chester_Draws, just don't be tempted to submit readings showing that you have used more gas and electricity than you have, so that more of it is at the lower current rate. They get to see past usage and will see any large changes in usage patterns.

magyar

jamesd wrote: »

The_Economist, supply and demand. Buying for mainland Europe reducing excess supply of gas here. Increased use of gas for electricity generation causing greater demand for gas for that and also increasing electricity prices if gas prices increase.

Longer term solution: more nuclear power. Intermediate term solution: more coal power. Irrelevant but nice non-solution: more renewables in tiny quantities that don't really make much difference as a percentage of the total demand for heating and power. Long term solution: maybe fusion power.

Agree with all the rest, but you're wrong there - Renewables are essential in terms of keeping prices down. Simply because all of these companies also have massive fossil production and thus exposure to carbon prices which, when the EU Trading System really kicks in - will cost them big time (and who do you think ends up paying?)

A strong Renewables position is today ESSENTIAL for a large utility.

fwor

I know that Mr MSE himself hasn't yet recommended existing nPower customers switch away, but surely the best thing to do is switch ~now~.

If big numbers of nPower customers jump ship quickly, the other suppliers will see this happening and be less inclined to put their prices up in one massive leap in the middle of winter.

If nobody bothers to move, the others will just see the apathy and copy nPower with huge price rises - so that their executives can take their massive bonuses at the end of the financial year!

NPower customers: Please - switch now!

billsavings

fwor wrote: »

I know that Mr MSE himself hasn't yet recommended existing nPower customers switch away, but surely the best thing to do is switch ~now~.

If big numbers of nPower customers jump ship quickly, the other suppliers will see this happening and be less inclined to put their prices up in one massive leap in the middle of winter.

If nobody bothers to move, the others will just see the apathy and copy nPower with huge price rises - so that their executives can take their massive bonuses at the end of the financial year!

NPower customers: Please - switch now!

Not necessarily a good idea. Read http://news.bbc.co.uk/1/hi/business/7172441.stm

" I am an Npower customer. Should I look to change providers?

Not necessarily. Before the price rises, Npower was seen as one of the cheaper providers.
The independent watchdog Energywatch has said that, given other firms are likely to also raise their prices, it may be worth waiting to see what Npower's competitors do. If you switch to a cheaper supplier today, you may well find that they too put up their prices, as all of the companies have to buy gas in exactly the same international market. "

magyar

billsavings wrote: »

Not necessarily a good idea. Read http://news.bbc.co.uk/1/hi/business/7172441.stm

" I am an Npower customer. Should I look to change providers?

Not necessarily. Before the price rises, Npower was seen as one of the cheaper providers.
The independent watchdog Energywatch has said that, given other firms are likely to also raise their prices, it may be worth waiting to see what Npower's competitors do. If you switch to a cheaper supplier today, you may well find that they too put up their prices, as all of the companies have to buy gas in exactly the same international market. "

At which point, you could switch back, of course.