Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • Former MSE Helen
    • By Former MSE Helen 11th Jan 12, 10:27 AM
    • 2,324Posts
    • 971Thanks
    Former MSE Helen
    MSE News: EDF Energy cuts gas bills by 5%
    • #1
    • 11th Jan 12, 10:27 AM
    MSE News: EDF Energy cuts gas bills by 5% 11th Jan 12 at 10:27 AM
    This is the discussion thread for the following MSE News Story:

    "EDF increased its gas bills in November but says it will now cut them after a decline in the wholesale gas price ..."

Page 1
    • Pincher
    • By Pincher 11th Jan 12, 10:37 AM
    • 6,516 Posts
    • 2,491 Thanks
    Pincher
    • #2
    • 11th Jan 12, 10:37 AM
    • #2
    • 11th Jan 12, 10:37 AM
    Only gas down 5% on 7th Feb. Electricity not moving.
    • Chillimonster
    • By Chillimonster 11th Jan 12, 10:37 AM
    • 59 Posts
    • 44 Thanks
    Chillimonster
    • #3
    • 11th Jan 12, 10:37 AM
    • #3
    • 11th Jan 12, 10:37 AM
    Hmmm.... What happens to those of us that signed up on fixed price deals. Are we stuck with them or...............

    It doesn't make that clear.
    LBM = 10/10/10
    Debt at 14/10/10 = 56936.28 --- 17/04/12 = 49673.01


    You cannot eat an elephant in one mouthful, just take a bite at a time!
    • NPowerUser
    • By NPowerUser 11th Jan 12, 10:49 AM
    • 403 Posts
    • 693 Thanks
    NPowerUser
    • #4
    • 11th Jan 12, 10:49 AM
    • #4
    • 11th Jan 12, 10:49 AM
    Hmmm.... What happens to those of us that signed up on fixed price deals. Are we stuck with them or...............

    It doesn't make that clear.
    Originally posted by Chillimonster
    Part the reason why I always look for deals that last 12-15 months on a fixed tariff.

    Anything longer and you risk the smell of singed flesh.
  • BargainMad
    • #5
    • 11th Jan 12, 10:52 AM
    • #5
    • 11th Jan 12, 10:52 AM
    Only Gas.

    Only 5% (a fraction of the rises we have endured).

    Obviously those on fixed/price protection ranges not affected and they are normally of the type where there is a very much larger standing charge per day anyway in order to "fix" the unit charge for the set period.

    Something tells me they are grabbing the headlines with something that constitutes very little.
    • macman
    • By macman 11th Jan 12, 10:57 AM
    • 43,573 Posts
    • 18,708 Thanks
    macman
    • #6
    • 11th Jan 12, 10:57 AM
    • #6
    • 11th Jan 12, 10:57 AM
    Something tells me that EDF know that any cold winter weather will be gone by 7/2/12...
    It was inevitable that EDF would do this only after so heavily promoting their fixed tariffs last Autumn.
    No free lunch, and no free laptop
    • Tony5101
    • By Tony5101 11th Jan 12, 11:05 AM
    • 1,473 Posts
    • 815 Thanks
    Tony5101
    • #7
    • 11th Jan 12, 11:05 AM
    • #7
    • 11th Jan 12, 11:05 AM
    was announced on BBC Breakfast as a 7% cut (IIRC) - still something is better than nothing. Agree with other posters though..considering the dramatic drop in the gas wholesale cost, this is a poor reduction.
    • macman
    • By macman 11th Jan 12, 11:21 AM
    • 43,573 Posts
    • 18,708 Thanks
    macman
    • #8
    • 11th Jan 12, 11:21 AM
    • #8
    • 11th Jan 12, 11:21 AM
    But the wholesale cost is only a proportion of the delivered cost. A 10% wholesale cut does not translate into a 10% retail cost. Delivery costs and all other charges remain the same.
    No free lunch, and no free laptop
    • Tony5101
    • By Tony5101 11th Jan 12, 11:36 AM
    • 1,473 Posts
    • 815 Thanks
    Tony5101
    • #9
    • 11th Jan 12, 11:36 AM
    • #9
    • 11th Jan 12, 11:36 AM
    I realise that there are other costs involved...but flipping this around...the very moment that wholesale costs increase, by even a small %age, we find ourselves as the consumer being hit with a much higher %age rise.

    I understand what you're saying, but there is absolutely no correlation between the wholesale price rises that suppliers use to justify cost increases to us, and what they pass on either +ve or -ve to the end user.
    • HalloweenJack
    • By HalloweenJack 11th Jan 12, 11:38 AM
    • 614 Posts
    • 205 Thanks
    HalloweenJack
    this decrease also shows the usual line spouted about buying far ahead is also total and utter !!!!!!!!.
    • Chillimonster
    • By Chillimonster 11th Jan 12, 11:39 AM
    • 59 Posts
    • 44 Thanks
    Chillimonster
    I realise that there are other costs involved...but flipping this around...the very moment that wholesale costs increase, by even a small %age, we find ourselves as the consumer being hit with a much higher %age rise.

    I understand what you're saying, but there is absolutely no correlation between the wholesale price rises that suppliers use to justify cost increases to us, and what they pass on either +ve or -ve to the end user.
    Originally posted by Tony5101
    I'd just typed out virtually the same thing, but got called away from my desk before i posted it
    LBM = 10/10/10
    Debt at 14/10/10 = 56936.28 --- 17/04/12 = 49673.01


    You cannot eat an elephant in one mouthful, just take a bite at a time!
    • penrhyn
    • By penrhyn 11th Jan 12, 11:44 AM
    • 15,006 Posts
    • 8,056 Thanks
    penrhyn
    Hmmm.... What happens to those of us that signed up on fixed price deals. Are we stuck with them or...............

    It doesn't make that clear.
    Originally posted by Chillimonster
    The key word is ' fixed '. If prices go up you win if they go down you lose.
    That gum you like is coming back in style.
    • macman
    • By macman 11th Jan 12, 11:49 AM
    • 43,573 Posts
    • 18,708 Thanks
    macman
    The key word is ' fixed '. If prices go up you win if they go down you lose.
    Originally posted by penrhyn
    As I said earlier, that will depend on what price you fixed at. Those of us on the earlier cheap EDF fixes may still find that we are ahead with a 5% cut in gas only.
    No free lunch, and no free laptop
    • horngkai
    • By horngkai 11th Jan 12, 12:11 PM
    • 565 Posts
    • 311 Thanks
    horngkai
    they go up more often than they go down. It will still be cheaper to fix
    • callum9999
    • By callum9999 11th Jan 12, 12:38 PM
    • 3,951 Posts
    • 2,408 Thanks
    callum9999
    this decrease also shows the usual line spouted about buying far ahead is also total and utter !!!!!!!!.
    Originally posted by HalloweenJack
    Well no it doesn't, because that's just a generic statement and it will vary wildly from energy company to energy company and from year to year.

    If they can get a really good deal for buying 3 years ahead then they'll do it. When that 3 years is up, maybe the deals aren't so good so they'll buy a month in advance - hedging their bets for prices to drop.

    The wholesale energy market is far more complex than people generally imagine. Though I do agree they are far quicker and harsher with price increases when their costs go up than they are with price decreases when they go down (but who can name a successful business that isn't?).
    • fiesta04
    • By fiesta04 11th Jan 12, 12:40 PM
    • 486 Posts
    • 292 Thanks
    fiesta04
    Every time I go for a fixed rate only one thing happens......Yes you guessed it, it always goes down!!!

    I will let you all know next time I fix on anything, so you can all stay well clear.
    • dadoronron
    • By dadoronron 11th Jan 12, 12:49 PM
    • 13 Posts
    • 1 Thanks
    dadoronron
    money saving tip?
    When EDF announces a price rise, the day before they are put up I top up my pre-payment meters as much as I can and so delay the changes going on to my meter. If the prices come down they get topped up on the day.
    • MillicentBystander
    • By MillicentBystander 11th Jan 12, 1:00 PM
    • 3,450 Posts
    • 2,225 Thanks
    MillicentBystander
    As I said earlier, that will depend on what price you fixed at. Those of us on the earlier cheap EDF fixes may still find that we are ahead with a 5% cut in gas only.
    Originally posted by macman

    Agreed. I'm on the Pre-August Fixed Version 2 and that is way more than 5% cheaper than EDFs current cheapest tariff. Let's not also forget that EDF recently 'did a British Gas' and cut the number of their tariffs, resulting in their cheapest tariffs disappearing so this 'reduction' is yet more smoke and mirrors. OFGEM still being led a merry dance.
  • BargainMad
    I did a meter reading on the 31st December as I was on EDF online saver 7.

    A bill was produced instantly with nearly 200 due via Direct Debit 14 days later.

    Then my monthly amount almost doubled as well !

    Ruined my new year I can tell you.

    5% off the variable gas unit price really isn't a big deal and yet they are getting positive publicity for it !
    • Richie-from-the-Boro
    • By Richie-from-the-Boro 11th Jan 12, 1:30 PM
    • 6,541 Posts
    • 4,888 Thanks
    Richie-from-the-Boro
    The more interesting facts that came out of this article that MSE Helen refers to has not been mentioned here.

    When customers have gripes about their energy company, after 8 weeks if they are unresolved they can be referred to the Ombudsman. 90% of unsolved complaints were not taken to the energy ombudsman for resolution. The ombudsman can get involved if the complaint has been outstanding for eight weeks, or if the supplier sends a letter saying the two parties are in deadlock.

    Some 95% of complaints looked at by the ombudsman are upheld and 70% of them receive financial redress.

    So if you follow strictly the advice and the protocol and register your unresolved complaint with the Ombudsman after 8 weeks, the odds are 95% of you will have it sorted in your favour and 75% will in addition receive compensation.

    - if 100% of the people complain
    - and 95% of those who complain are found for not against
    - and 75% of those found for are paid compensation

    - the energy companies will soon attend to customer service and put some resources into making sure the complaint does not arise in the first place.

    Its gone on this long, and will continue to go on because customers do not effectively complain, and the energy companies are not hit where it hurts by being fined.

    Do something other than bleat, start the ball rolling on the 9th week
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

2,019Posts Today

7,093Users online

Martin's Twitter