Energy Prices Coming Down - Hurray!

jambutty · 08-02-2007, 12:30

British Gas, or should that be Gritish Bas, has declared that they are bringing down their energy prices from March 2007 and for those who take electricity and gas from BG they could benefit by up to £170 per year. Good news.

Powergen have immediately jumped in with a similar intent and no doubt other suppliers will follow suit.

By a strange coincidence I received a letter from Powergen this morning informing me that I could sign up to fixed energy prices right through to 1st April 2010. This ‘price protection’ will only be available for a short period but it doesn’t state how short. Neither does it state at what level will the price protection start. That is whether it will be at today’s rates or those that come into force after 1st March.

A quick FREE phone to Powergen resolved that point. First of all this price protection malarkey attracts a slightly higher rate than the standard rate and as I have just been informed it will protect the prices as they are TODAY.

Nice try Powergen but some us haven’t just climbed down from the nearest tree. Sadly though some people will get caught out.

The moral of this tale is “If it sounds too good to be true, then it probably is” and check before being taken in.

LancYorkYankee · 08-02-2007, 18:51

Aye jambutty, the current energy price cycle has been down these last few months. Due to the last couple of years of high prices, a rather hefty glut of natural gas, gasoline, and oil has resulted. I believe, due to recent activity, you'll see a short spike in the gas markets in the next few weeks:

The fickleness of this market can be seen just in the last couple of weeks of very cold weather across much of the States. The price of a barrel of oil has risen almost $10 back to almost $60 a barrel. Natural gas prices have been up and down 2 - 3% every other day, at least over here, in the Commodity Markets.

I believe most of this current rise is due to the herd mentality of these markets. Investors are trying to cover short positions and mutual fund managers don't want to miss out on commodity prices rising. Hence they're all buying and driving up the prices of commodities who's supply has not been greatly affected by the current conditions.

I sold my natural gas shares a bit early (we weren't "supposed" to get this much cold weather), but would be uncomfortable with holding in an emotionally driven uprise.

Things should stablize if weather warms up and world events stay neutral.

Brian

panther · 08-02-2007, 19:45

what about NPower? they reducing as well?........probably not

chav1 · 08-02-2007, 19:46

no matter what they do people on meters will still get screwed

jambutty · 08-02-2007, 22:41

Quote:

Originally Posted by chav1

no matter what they do people on meters will still get screwed

What do you mean?

Everyone is on a meter in one way or another.

SPUGGIE J · 08-02-2007, 23:52

Quote:

Originally Posted by jambutty

What do you mean?

Everyone is on a meter in one way or another.

When someone is away and the minimum that is put in the card meter dosnt cover the standing charges you are being screwed.

jambutty · 09-02-2007, 14:08

Anyone on a card meter has always been screwed because the rates for card meters are the highest.

There are no standing charges for quarterly payments or DD.

SPUGGIE J · 09-02-2007, 14:11

Someone I know found that out the hard way but as they are not working the card meter was the option they took.

jambutty · 09-02-2007, 15:08

It’s wrong that the people with severely limited income or the inability to manage what they have are forced into using card meters when that is the most expensive option.

If you think about it a card meter means that the energy company get their money before supplying the energy yet they have the nerve to charge more for it. If anything the card meter should be the cheapest option or at least the same as the quarterly rates.

Once in a while I have not received my quarterly bill and wouldn’t have got it if I hadn’t rang Powergen to ask where it was. “Well we’ve sent it” is the usual response and then by a strange coincidence I get a red bill a couple of days later. I have to force them to send me a proper bill and stop all this ‘you haven’t paid’ nonsense.

Are they angling to force me into having a card meter because of the apparent default in settling my account? An unequivocal yes they are.

accymel · 09-02-2007, 15:23

Thats my gripe with these companies with regard to card meters, mind u same said for anyone paying as they go, for some unknown reason they actively encourage debt & its the cheaper option whereas paying up front or as u go only benefits the company - plus the card meter actually cuts down on pester bills & reminders, so no extra staff needed or cost involved - so why do they ahve to charge so much

accymel · 09-02-2007, 15:24

Be ok if u got your correct meter put in on time as the parlavour i had early this week

SPUGGIE J · 09-02-2007, 16:57

Quote:

Originally Posted by accymel

Be ok if u got your correct meter put in on time as the parlavour i had early this week

I've got that next week if I can B n E the external cupboard which no one has the key for alledgely. Mine is due to change under time constraint or something like that. Well so they say anyway. 08:00 to 20:00 so tuns of comp time as I aint at work.