Energy Prices (Strictly NO referrals!)

[Zenduri]

Yeah, kicking myself for not jumping on the BG 2 year fix at "only" 32p/unit 54p standing electric, 8.5p/unit 27p standing gas

Yeah, it's quite grim in a "I can't afford it anyway so it doesn't matter if it's £100 or £1,000/month over budget" way

The real kicker is this, aside from petrol and energy price increases we are yet to see all the cost of living increases as there is about a 4-6 week lag before it makes its way to consumers. Eg Grain costs

 

[Lord-Jaffa]

It could all be reduced though record wholesale price of anything need not equal record profit on the final sale, margins could reduce profits could survive!

I dont think you understand business at all and certainly not the energy market and what got us to this stage.

 

[a1ex2001]

I dont think you understand business at all and certainly not the energy market and what got us to this stage.

I understand fine and considering energy supply to be a normal business is a little odd. I’d love someone to explain if 170million profit was ok last year why does a company need to make 300 million this year just because the wholesale cost of what they supply has been increasing?

Also why do we charge VAT on an essential isn’t it supposed to be a luxuries tax?

 

[SPG]

OFGEM need a ****** bullet. Filled with cronyism to the max and fully in bed with the operators. Pensioner's have no way of dealing with this. It's bloody disgusting.

 

[Richie]

Mind and bank your "big" wage this month people... Wage cut in April's pay (1.5% NI increase) just to kick you while you're down

 

[Tom|Nbk]

Wow at heating oil prices, not surprised of course with the other rises, I ordered 500 litres, 3 weeks or so ago I think at £320, now it's £740.... savage.

 

[V F]

Wow at heating oil prices, not surprised of course with the other rises, I ordered 500 litres, 3 weeks or so ago I think at £320, now it's £740.... savage.

Crazy isn't it.

 

[Karl]

Current DD is £96 a month prior to the comedy increases.

Octopus just offered me a 10m fix that'll cost £272 a month.

They've also emailed me letting me know my bill will be £50 under the price cap, and they're swallowing £50m over the next six months to do it.

 

[dod]

OFGEM need a ****** bullet. Filled with cronyism to the max and fully in bed with the operators. Pensioner's have no way of dealing with this. It's bloody disgusting.

Agreed, they've not been fit for purpose for years.

 

[Tom|Nbk]

Crazy isn't it.

I ran out almost around 3 weeks back, had these prices been in effect then I probably would have left it, I'm now switching the heating off completely as temps seem to be rising, the oil boiler feeds into the shower however I have an electric shower in the house also which would probably work cheaper as I'm on fixed rate!

 

[MatsyLR]

OFGEM need a ****** bullet. Filled with cronyism to the max and fully in bed with the operators. Pensioner's have no way of dealing with this. It's bloody disgusting.

Its fine it say its disgusting but what are the energy companies supposed to do? keep eating the costs of fuel like they have been doing for over a decade?
They should have however done a gradual increase starting years ago instead of a big jump.`
What about the cost of general produce going up? are the companies supposed to absorb that cost? from our point of view yes they should as they make silly amounts of money already but that isn't the world we live in.

In terms of direct debits, NO ONE should ever be paying by Monthly Debit Debit to any energy company. You should be paying by a Monthly WHOLE AMOUNT Debit Debit which isn't even advertised as they don't want people on it (your money is not sitting in their business accounts earning interest). Its the same as paying for the usage you use to the penny every month except you get the debit debit discounts/benefits (although this is non-existent right now due to the price increases). Anyone complaining about the monthly debit debit being increased needs to switch to whole amount (you can only do it by calling your provider)

 

[Puzzled]

Thing that is really sick about this is that the costs of getting it out of the sodding ground hasn't really changed that much, the price rises are mainly down to demand. They could increase production but instead they just increase profits.

 

[jpaul]

Thing that is really sick about this is that the costs of getting it out of the sodding ground hasn't really changed that much, the price rises are mainly down to demand.

increased cost of reparations, legal cover, when there is a tanker/rig disaster - ask BP. .... how that compares to chernobyl/fukushima cleanup though, plus decomissioning.
but would be interesting to know how much home domestic consumption has/had increased.

 

[Moley]

Just received a price increase email from British Gas today.

Our estimated gas cost changes from £612 pa to £1025 pa and our electricity from £2200 pa to £3050 pa.

We pay on a monthly DD so the cost is spread through the year and we are usually in credit by a few hundred at the end of the year. I'm lucky in that I work in a good job and can manage this price increase but I can see how this would cripple some families - who have my sympathy.

 

[Tom|Nbk]

We pay on a monthly DD so the cost is spread through the year and we are usually in credit by a few hundred at the end of the year. I'm lucky in that I work in a good job and can manage this price increase but I can see how this would cripple some families - who have my sympathy.

This is my thinking also, low earners it's going to hurt really bad

 

[V F]

Thing that is really sick about this is that the costs of getting it out of the sodding ground hasn't really changed that much, the price rises are mainly down to demand. They could increase production but instead they just increase profits.

Our politicians has just taken a pay rise for all this. While mostly everyone else struggles or gets hammered.

 

[dod]

Thing that is really sick about this is that the costs of getting it out of the sodding ground hasn't really changed that much, the price rises are mainly down to demand. They could increase production but instead they just increase profits.

There's some demand related but a lot of this is down to sentiment.

We were pricing electricity yesterday and today for a customer. Price dropped about £140 per MWh. (14p kWh)

 

[Sinbad2000]

There's some demand related but a lot of this is down to sentiment.

We were pricing electricity yesterday and today for a customer. Price dropped about £140 per MWh.

So the corporate equivalent of the queues at the petrol stations?

 

[dod]

So the corporate equivalent of the queues at the petrol stations?

Not quite. There's no shortage of energy, real or perceived.

It's a tradeable market and at the moment short term prices are significantly higher than prices 2-3 years out. Those prices are driven by the cost of gas, oil, carbon and traders (financial institutions) making a fast buck.

 

[Sinbad2000]

Not quite. There's no shortage of energy, real or perceived.

It's a tradeable market and at the moment short term prices are significantly higher than prices 2-3 years out. Those prices are driven by the cost of gas, oil, carbon and traders (financial institutions) making a fast buck.

ah ha. Hyenas at a carcass then