Energy Prices (Strictly NO referrals!)

willhub said:
hearing of people's leccy bills gone up £200 a month, seems unrealistic, £300 a month leccy for a house?
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Quite possible, we were/are paying £150 p/m but that's effectively overpaying (we're in significant credit), but with the new cap, all the fix rates are ridiculous.

Here's my provider (ovo) and their offers for me:

 
SpeedFreak said:
Eon are taking the proverbial, they've gone from v11 to v13 in a week. I was looking at V12 last night.... Up 12% now.
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Due to the changing market sadly. As i said before there has been 4 revisions in a month now due to prices rocketing.

There was some comms that went out last week that if customers were actively looking or enquiring about a version that is then subsequently pulled, there is some discretion to put them on the pulled product. You will need to speak to someone though on the phone and lay it on a bit thick, "I was looking at the prices as wanted to lock in for some security for myself and my young family, needed to discuss it with the wife who works late and by the time we had discussed it and decided to take the v12 deal it had been pulled"
 
Note none of the suppliers seem to be taking a hit on their profits...... for me this is fast approaching a position where some sort of significant government intervention is going to be required to either restrict profits or subsidies the consumer as people are going to freeze next winter.
 
Just checked if the offer Octopus had on the table for me was still on the table...nope, they now want even more and will only fix for 10 months.

That's it then, I'm strapping in and on the variable tariff from the end of the month.

In addition, heating oil had more than doubled in my area to well over £1.20 a litre until today where it just isn't available at all. I can hold out until summer, so hoping I can fill up then, otherwise I'll have to throw more notes away on electric heating.
 
a1ex2001 said:
Note none of the suppliers seem to be taking a hit on their profits...... for me this is fast approaching a position where some sort of significant government intervention is going to be required to either restrict profits or subsidies the consumer as people are going to freeze next winter.
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How much do you think an energy supplier makes in profit per customer?
 
How does the UK buy its gas? Does each energy supplier agree a rate for the next x months / units or is it a universal price across the board? If its made up of individual deals then wouldn't they get a better price by buying as one group.
 
Puzzled said:
How does the UK buy its gas? Does each energy supplier agree a rate for the next x months / units or is it a universal price across the board? If its made up of individual deals then wouldn't they get a better price by buying as one group.
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big boys buy months in advance, smaller guys tend to buy on day or month prices. Todays prices for sept gas purchases are 465p per therm which equates to 15.87p per kwh
 
a1ex2001 said:
about 1% which becomes significant at 3k a year combine that with the government binning VAT and green subsidies and energy prices would be significantly lower. No company should be making massive profits out of this misery.
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I believe EDF and EON Next made somewhere between £14-20 per customer last year which isnt gouging by any means. As with any business if costs increase its usually passed on to the customer.

The real problem is the wholesale costs and the lack of government reponse to softening the increases.. but dont worry if they cant help now they can 100% help if state ran.... because that changes everything according to folks on here
 
Does anybody think it's likely that there will be scheduled power cuts in the coming months?

If it becomes so expensive to generate power many companies may just opt to stop production or the government may force it to be redirect it to essential services.
 
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