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  • FIRST POST
    • Former MSE Helen
    • By Former MSE Helen 6th Feb 14, 4:44 PM
    • 2,324Posts
    • 971Thanks
    Former MSE Helen
    MSE News: Energy prices still heading up despite Government cuts, experts say
    • #1
    • 6th Feb 14, 4:44 PM
    MSE News: Energy prices still heading up despite Government cuts, experts say 6th Feb 14 at 4:44 PM
    "Energy firms have promised to freeze prices after the Government cut green levies, but prices are set to rise long-term..."

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    Energy prices still heading up despite Government cuts, experts say



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    Last edited by Former MSE Michael; 10-02-2014 at 10:44 AM.
Page 1
    • jobdone1
    • By jobdone1 6th Feb 14, 7:10 PM
    • 719 Posts
    • 540 Thanks
    jobdone1
    • #2
    • 6th Feb 14, 7:10 PM
    • #2
    • 6th Feb 14, 7:10 PM
    You are very right. Edf energy new blue product higher price SHOCK not. So we are being fleeced this must stop. But who has the bXXXs to do that.

    I wait to see
    • Consumerist
    • By Consumerist 7th Feb 14, 12:00 AM
    • 5,197 Posts
    • 2,602 Thanks
    Consumerist
    • #3
    • 7th Feb 14, 12:00 AM
    • #3
    • 7th Feb 14, 12:00 AM
    At least the suppliers have been robbed of one of their main excuses for the price rises. If prices go up whilst the wholesale gas price remains flat, the spotlight will turn on the network operators where it has always deserved to be.

    Ofgem have some influence over the network operators' charges so we'll see whether they have any backbone. I wouldn't hold my breath for Ofgem to help consumers, however.
    Warning: In the kingdom of the blind, the one-eyed man is king.
    • Pincher
    • By Pincher 7th Feb 14, 3:11 AM
    • 6,516 Posts
    • 2,491 Thanks
    Pincher
    • #4
    • 7th Feb 14, 3:11 AM
    • #4
    • 7th Feb 14, 3:11 AM
    Assuming 16,500kWh gas, and 3,300kWh, the old medium usage, I have been on short term fixes rising from 899 to 1,142, over a five year period. So it's 243 more per year compared to five years ago for average consumption. It's 4.8% compounded over five years.

    If we assume 5% increase per year, still assuming 16,500/3,300kWh usage, the annual energy bill will be 1,484. In the absence of a crystal ball, that is what I plan for. It does give a guidance on what is a reasonable budget for insulation. 10,000 would be too much, but I would definitely spend some more money on adding insulation.
    • 50Twuncle
    • By 50Twuncle 7th Feb 14, 8:31 AM
    • 9,198 Posts
    • 2,333 Thanks
    50Twuncle
    • #5
    • 7th Feb 14, 8:31 AM
    • #5
    • 7th Feb 14, 8:31 AM
    Did anyone honestly expect a spineless government to do anything other than "advise" the energy companies to comply ?
    We are destined for annual rises, at over inflationary rates - forever - and no amount of swapping suppliers will reduce this....
    Still - human habitation on the planet will end soon - due to global warming causing weather changes - so nobody will be around to complain - so bring it on !!!
    • minislim
    • By minislim 7th Feb 14, 8:46 AM
    • 330 Posts
    • 197 Thanks
    minislim
    • #6
    • 7th Feb 14, 8:46 AM
    • #6
    • 7th Feb 14, 8:46 AM
    the main excuse for price rises is usually the wholesale price.

    and theres been suspisions about that market not being quite as competative as it should be.

    sounds to me like the enerygy market equivalent to the libor scandal.
    • warhead
    • By warhead 7th Feb 14, 11:54 AM
    • 319 Posts
    • 99 Thanks
    warhead
    • #7
    • 7th Feb 14, 11:54 AM
    • #7
    • 7th Feb 14, 11:54 AM
    Yes, we all complain about energy costs but with 7 billion people on the planet and the demand for gas by China and India increasing big time the wholesale prices will only go in one direction. You don't need experts to tell you that fact.
    Britain is too dependent on imported gas from Norway, Russia and The Middle East for electricity generation.
    This not only affects the price on the world market but is not a sound strategic plan as the country is vulnerable to being cut off from the world gas supply.
    Over the coming years we must invest in more coal/nuclear/renewables right here in the UK to meet the increasing demand for power.
    • undercover_peon
    • By undercover_peon 7th Feb 14, 12:59 PM
    • 90 Posts
    • 29 Thanks
    undercover_peon
    • #8
    • 7th Feb 14, 12:59 PM
    • #8
    • 7th Feb 14, 12:59 PM
    This

    "I wouldn't hold my breath for Ofgem to help consumers, however."

    Ofgem is part of the problem rather than part of the solution.
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