Energy Prices (Strictly NO referrals!)

danlightbulb said:
You don't think energy companies are doing this anyway, but using the gap to boost profits instead of returning it to customers?

These big suppliers have whole trading teams who will be buying various combinations of forward prices and spot at any time.
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You don't think the regulator takes this into account when setting the cap prices? (the amount forward contracted vs the total supply required...)

They make very little profit in reality. The only thing I suspect that keeps them selling to domestic consumers is that whilst the profit is low, its predictable.
 
Can't beat Agile this year.

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danlightbulb said:
You don't think energy companies are doing this anyway, but using the gap to boost profits instead of returning it to customers?

These big suppliers have whole trading teams who will be buying various combinations of forward prices and spot at any time.
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I dont know if they do what you suggest. Did the main suppliers make large losses when the spot pricing went crazy?

All I know is their profit margin is highly regulated.
 
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413x said:
They couldn't install one for gas. Came twice, second time that apparently had the right kit. But decided they couldn't lol!

Electricity works with my IHD but has stopped reporting to Scottish power. So I still submit online manually
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Octopus are pretty good at brining old SMETS1 back to life. Or should I say bothering to.

If your gas is an old meter I think you would be limited to normal tariffs for gas. But then thats going to apply to all suppliers.
 
413x said:
They couldn't install one for gas. Came twice, second time that apparently had the right kit. But decided they couldn't lol!

Electricity works with my IHD but has stopped reporting to Scottish power. So I still submit online manually
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You have to book a dual meter swap so both meters are the same, open a complaint and don't let them close it until they install 2 new meters.
 
It's there much point being on a tracker for gas? Surely it's not anywhere near as important as electricity?

Gas is needed when it's cold. Electricity (washing, dishwasher, tumble dryer, 10kw electric shower! ) is much more important.
If I know when cheap electric is in advance I can move all that around.
 
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200sols said:
I dont know if they do what you suggest. Did the main suppliers make large losses when the spot pricing went crazy?

All I know is their profit margin is highly regulated.
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The retailers profits aren't regulated, only the network/supply companies. Retailers are in a competitive market.

I don't know for certain that they do it, but I'd be surprised if they didn't. When spot is so much lower than the forward contract prices, and almost all their customers are paying the fixed prices, there is a lot left on the table if they don't bother trying to trade the gap or at least leave a portion of their liability 'unhedged' to benefit from an expected gap in spot vs forward rates.
 
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just done fixed with Eon as on a comparison there was little between them so just fixed for 12 months for some stability.

Wasn't sure whether to do 2 years but fancy going with octopus.

Be interesting to see if they can fit a smart meter as the wiring in the house is between 50-120yrs old lol. Googled the light switches in the 18th century barn and they're circa 1900-1910 lol. the main house was rebuilt in the 70s... if it ain't broken lol. The light switches are so cool!
 
Mercenary Keyboard Warrior said:
An even more fundamental question.
Should we fully socialise all the costs across the whole nation. Bearing in mind renewables will become an ever increasing proportion of the bills.
So we share equally the costs of the whole provision of generation to supply.
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Yes we should (IMO of course) SC should be the same throughout the UK


Shoza said:
Standing charge is what, £20 a month? It’s half my mobile phone bill. I don’t see all reason for all the hate and drama about it.
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Your SC is less than mine but, even so, your SC is higher than my mobile bill... If that's the comparison, am I allowed to be annoyed?

Shoza said:
However, it should be uniform across the entire national grid and not regional.
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See first sentence... I agree however you may find yours then goes up whilst other's comes down (I dont know your region)
 
Mercenary Keyboard Warrior said:
Your very atypical user though. You really can't be used as a good example. It seems your atypical not just on energy but also your phone bill.
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Its called taking advantage of lebara 99p deals for 6 months then swapping to PAYG then back to another 99p deal :)

As someone who works for one of the big mobile companies I wouldn't have a contract ever, biggest con going. If you must have your device on contract go direct with manufacturers and a separate sim agreement.
 
MatsyLR said:
Its called taking advantage of lebara 99p deals for 6 months then swapping to PAYG then back to another 99p deal :)

As someone who works for one of the big mobile companies I wouldn't have a contract ever, biggest con going. If you must have your device on contract go direct with manufacturers and a separate sim agreement.
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Spusu myself. First 3 months were 99p then 4.50.

Whats really ridiculous. I got 45 pounds cashback from quidco as well!

Couldn't believe it paid out!
 
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