Energy Prices : £50 off your new bill

[arista]

http://media.skynews.com/media/images/generated/2013/10/29/267538/default/v2/cegrab-20131029-145923-211-1-626x352.jpg
[Energy firm bosses are being asked to justify their recent price rises by MPs questioning them in the House of Commons.]

http://news.sky.com/story/1161158/energy-crisis-mps-turn-spotlight-on-big-six


Live on SkyNewsHD and BBC


A Labour MP just had a go at the Energy Bosses
saying Profits are High.
They said check a Supermarket or Phone Company
they have the same profits.

And the Profits are needed to carry on Trading.

[user104658]

And the Profits are needed to carry on Trading.

:rolleyes: profits are by definition NOT needed to carry on trading... the definition of net profit is income minus expenses. If they are making a net profit, then their expenses are less than their income, and therefore, they do not "need" it to carry on trading.

[MTVN]

They are needed if they want to maintain their positions as the biggest energy companies

[fingers]

:rolleyes: profits are by definition NOT needed to carry on trading... the definition of net profit is income minus expenses. If they are making a net profit, then their expenses are less than their income, and therefore, they do not "need" it to carry on trading.

Well put!

[MTVN]

http://media.skynews.com/media/images/generated/2013/10/29/267538/default/v2/cegrab-20131029-145923-211-1-626x352.jpg
[Energy firm bosses are being asked to justify their recent price rises by MPs questioning them in the House of Commons.]

http://news.sky.com/story/1161158/energy-crisis-mps-turn-spotlight-on-big-six


Live on SkyNewsHD and BBC


A Labour MP just had a go at the Energy Bosses
saying Profits are High.
They said check a Supermarket or Phone Company
they have the same profits.

And the Profits are needed to carry on Trading.

That was a point someone raised on QT a couple of weeks ago as well, apparently the energy companies typically run profit margins of about 5-6% which is the same as most of the major supermarkets

[fingers]

They are needed if they want to maintain their positions as the biggest energy companies

...and to continue to pay their "Fat Cats" obscene bonuses for making bigger profits regardless!

[fingers]

One might also ask, naively, if these bonuses are paid BEFORE the net profit is calculated or do they reduce the profit earned?

[Kizzy]

However supermarkets make a profit on things people want not need in the main... we need energy, imo it is not a luxury and should be VAT exempt. that would save 5-6% right off.
That is before you tackle the issue of profit.

[fingers]

However supermarkets make a profit on things people want not need in the main... we need energy, imo it is not a luxury and should be VAT exempt. that would save 5-6% right off.
That is before you tackle the issue of profit.

Don't forget Britain's "Save the World" "GREEN TAX"!

[user104658]

They are needed if they want to maintain their positions as the biggest energy companies

This is essentially admitting that they are a cartel... they should be in competition with each other to be the biggest / best. But they're not, they're in cahoots, because they can each make more by agreeing to not compete against each other and being the "biggest companies" with customers bouncing around between them annually via price comparison sites. There is literally no other way to explain them all hiking prices by roughly the same percentage at exactly the same time.

Also, comparing themselves to phone companies and even moreso supermarkets, is a bit of a joke.

In the case of phone companies, it's plain to see that competition has worked extremely well for the consumer, with phone contracts either remaining static in price or falling dramatically... it used to cost a fortune to run a mobile phone, but the effect of competition with contracts means that you can now get a brand new high end smartphone with generous allowances for £15 - £20 a month. 5 years ago it was more like £30 - £35 a month. 5 years before that most people were paying "per text" - a bill of £60+ wasn't unusual for me.

As for supermarkets, you can't compare them at all to energy companies. It's a 2 minute transaction, you can shop around. Tesco cheaper than Asda for apples? Go to Tesco. But Asda's got a deal on washing powder? You can go there too, on the same day. Again, the effect of competition between supermarkets is very obvious.

Energy providers, on the other hand? You can't look at who is offering the best deal on a day to day basis and say "Oh, I'll get my gas from them today then". If you could, maybe they would actually try to compete with each other.

[Kizzy]

What about it... do you not think there will be a nuclear tax?
There will and it will be huge, renewable energy is necessary for decarbonisation targets.
What is that to do with the profits which is the topic of the discussion.
Redirection and deflection of the facts by the government is filtering through to the electorate nicely.

[MTVN]

This is essentially admitting that they are a cartel... they should be in competition with each other to be the biggest / best. But they're not, they're in cahoots, because they can each make more by agreeing to not compete against each other and being the "biggest companies" with customers bouncing around between them annually via price comparison sites. There is literally no other way to explain them all hiking prices by roughly the same percentage at exactly the same time.

Also, comparing themselves to phone companies and even moreso supermarkets, is a bit of a joke.

In the case of phone companies, it's plain to see that competition has worked extremely well for the consumer, with phone contracts either remaining static in price or falling dramatically... it used to cost a fortune to run a mobile phone, but the effect of competition with contracts means that you can now get a brand new high end smartphone with generous allowances for £15 - £20 a month. 5 years ago it was more like £30 - £35 a month. 5 years before that most people were paying "per text" - a bill of £60+ wasn't unusual for me.

As for supermarkets, you can't compare them at all to energy companies. It's a 2 minute transaction, you can shop around. Tesco cheaper than Asda for apples? Go to Tesco. But Asda's got a deal on washing powder? You can go there too, on the same day. Again, the effect of competition between supermarkets is very obvious.

Energy providers, on the other hand? You can't look at who is offering the best deal on a day to day basis and say "Oh, I'll get my gas from them today then". If you could, maybe they would actually try to compete with each other.

They are purely being compared in terms of profit margins, it might be easier to find cheaper deals with phones, supermarkets etc. these days but they are still running profit margins roughly equivalent to energy firms. Yes there are obvious differences, and one of them being that energy companies don't actually have as much control over their prices, seeing as they are a lot more controlled by international market prices and have things like green taxes imposed on top of them

I don't see how saying they need to make a profit is admitting they are a cartel either, show me a company that is one of the biggest in its field that is only breaking even, it's not possible

[joeysteele]

I found little of their reasoning convincing. I am firmly in the complete re-organisation of energy and those who supply it camp.

All I feel comes across is sheer greed.

[the truth]

these idiot politicians set up this cartel system
where there is a totally monopoly and price fixing
these parliamentary commitees and hearings also costs millions to run, but if they get prices don it may just be worth it
the whole utilities industry should be nationalised.
the tax payer pays for all the infrastructure yet the private 5 companies cream off all the profits, its obscene, its a global scam

[fingers]

In all other types of business consumers can make their displeasure felt by hurting their profits (which is the only thing that businesses fear). How do you send a message to these energy suppliers? by not using electricity or burning gas? They have a Monopoly and they know it.

[the truth]

In all other types of business consumers can make their displeasure felt by hurting their profits (which is the only thing that businesses fear). How do you send a message to these energy suppliers? by not using electricity or burning gas? They have a Monopoly and they know it.

exactly this is not a marketplace at all....anyone with a brain can see that....except bbc so called reporters who never even make this obvious point

[arista]

Ch4 8PM tonight

Dispatches 30mins Docu
Energy Prices


[Energy Bills Exposed
60% of us have never
switched energy provider.
In this clip, we meet Elaine
who's been with hers for 38 years...]
Video preview
http://www.channel4.com/programmes/dispatches
http://static.bips.channel4.com/bips/420x236/videos/2802883584001.jpg

[arista]

On Ch4HD and Ch4 Now

[Kizzy]

Watching now...

[Josy]

I got a letter today actually from Scottish Power telling me the prices were going up on the 6th of December then at the bottom were it shows you the price differences the price per kw usage is slighter higher but the price in pence is lower.

It's confused me tbh so I'm going to have to phone them up..

[fingers]

I got a letter today actually from Scottish Power telling me the prices were going up on the 6th of December then at the bottom were it shows you the price differences the price per kw usage is slighter higher but the price in pence is lower.

It's confused me tbh so I'm going to have to phone them up..

ANY communication from ANY of the Energy suppliers is designed to be as obscure , confusing and misleading as the English language can make it.

[smeagol]

we need to pay to heat their second homes even though we cant afford to heat our own
no need to watch. they do what they like. there is no resolution at the end. just hot air pardon the pun lol

[fingers]

we need to pay to heat their second homes even though we cant afford to heat our own
no need to watch. they do what they like. there is no resolution at the end. just hot air pardon the pun lol

Typical answer from an Energy supplier: We know price increases hurt. We feel your pain!

[smeagol]

Typical answer from an Energy supplier: We know price increases hurt. We feel your pain!

shocking. they shouldn't be allowed to get away with it, older people are the ones who really suffer and profit shouldn't be a factor.

[arista]

Tonight 7:30PM ITV1 and ITV1HD
have a Special Tonight Edition.

Showing How to Save on Energy bills

Record it - if you can not watch it etc.

[fingers]

Tonight 7:30PM ITV1 and ITV1HD
have a Special Tonight Edition.

Showing How to Save on Energy bills

Record it - if you can not watch it etc.

It's dead simple, don't use electricity, and don't burn gas.

Just freeze to death this winter and the government won't have to worry about paying you a pension!

[arista]

on now

[Gstar]

ITV are so shady, forever trying to make things clash with Eastenders

[arista]

ITV are so shady, forever trying to make things clash with Eastenders


watch on ITV1+1 8:30PM

[Vicky.]

I got a letter today actually from Scottish Power telling me the prices were going up on the 6th of December then at the bottom were it shows you the price differences the price per kw usage is slighter higher but the price in pence is lower.

It's confused me tbh so I'm going to have to phone them up..

Ugh. Do not get me started on ****ing scottish power. One of their reps rang me one night when I was pissed and talked me into switching. He said I had a 'grace period' where I could cancel if I wanted to. Now, I was pissed but not THAT pissed and when they sent mea welcome pack the numbers I would be paying were a lot different to what he told me on the phone..so I used my grace period to cancel the switch. I never got a lettersaying it was cancelled so I rang them, they reckoned that I had never been in touch and my grace period was up now. They said they would call me back after speaking to a manager. 2 days later, still no call so I called them back again. After waiting nearly an hour in a queue, I was told that they had finally cancelled the switch.

Fast forward a week or two.. got a letter off EDF saying sorry you are leaving us..and a direct debit set up on my bank account to scottish power. I cancelled the DD and plan on not paying any bills at all..to show them that they cant **** me about like that :hmph:

[Kizzy]

Didn't see the prog will catch it online hopefully, I would love to go off grid one day..
Does anyone know if there is still 2 tariffs for electric for day and night units from any supplier?
There used to be :conf:

[Cherie]

I didn't find it particularly helpful, same old stuff, use less, insulate, and change supplier (which lets face it unless you have the stomach for changing supplier year in year out is a no no, and those "savings" that are offered when you do a comparison never seem to materialise, and once you have signed up the DD is similar if not more than you paid the last supplier.

One point of interest Kizzy, a Slow cooker uses a third less electricity than an oven, so there :tongue:

[Kizzy]

That might be true but you have a slow cooker on fir 8hrs, if you cook the same stew on the hob it takes 1hr so won't that even out?
Someone gave me an excellent tip yesterday, put tin foil behind your radiators as it reflects the heat back into the room and not absorbed into the wall.
I'm having a go at that one :D

[arista]

http://media.skynews.com/media/images/generated/2013/11/9/269613/default/v1/mail-1-329x437.jpg

[smudgie]

http://media.skynews.com/media/images/generated/2013/11/9/269613/default/v1/mail-1-329x437.jpg

Now that would be a great Christmas present if true.:hugesmile:

[arista]

[Energy firms to pay back billions: Windfall for customers
as Big Six finally agree to refund
direct debit overpayments after pressure from the MoS

People not always refunded credit on their account after switching provider
Companies were making up to £36million a year in interest, MoS revealed
Big Six conceded to repay customers and review accounts twice a year
Energy Minister Greg Barker said news is a 'real win for working people']


Read more: http://www.dailymail.co.uk/news/article-2496051/Energy-firms-pay-billions-Windfall-customers-Big-Six-finally-agree-refund-direct-debit-overpayments-pressure-MoS.html#ixzz2kF4dVGJc

Thats something

[Kizzy]

I don't know why they ever stopped doing it, my mother would look forward to her 'rebate' it just came automatically once there had been any overpayment once the bill was calculated.
Why don't they give everyone this quarters energy for free seeing as they have £36 million profiteered from customers?

[smudgie]

Awwww, we have already had the refund.
Was looking forward to an extra bonus.


Edit, oh yes they sent us a refund of £123 and at the same time decade to put or monthly payments up by nearly a third.
Needless to say, they can go swivel on it.

[user104658]

Pointless really, if you pay DD you're better to leave your account in credit, to cover uncommonly long periods of cold weather, etc.

If they sent me a "rebate" I'd pay it straight back onto my account :/. Otherwise we would just end up spending it on little bits of junk here and there that we don't need - and then end up hit with a big increase after the winter. No thanks!

It obviously is very dodgy that they're not refunding people even after they switch suppliers, though...

[Kizzy]

If they are charging you more than is required then that needs addressing, you may have other monthly outgoings that leave you short due to this overcharging.
It's well known that winter is a colder month and therefore you have to budget accordingly, it's better sat in your bank awaiting payment than theirs isn't it?
Unless you think it's your duty as a customer to boost their profits and pay for the privilege?

[user104658]

If they are charging you more than is required then that needs addressing, you may have other monthly outgoings that leave you short due to this overcharging.
It's well known that winter is a colder month and therefore you have to budget accordingly, it's better sat in your bank awaiting payment than theirs isn't it?
Unless you think it's your duty as a customer to boost their profits and pay for the privilege?

I'd rather pay a set amount that's constant throughout the year than pay £50 a month over summer and £200 a month over winter... Frankly, I don't HAVE £200 a month for bills over winter. We would be in a situation where we would be keeping the heating off to be able to afford the bills... I have two children under 5 and that just isn't an attractive scenario.

You could argue that it would be better to personally keep that money aside over summer to pay the winter bills, but you know how it is... There's always some wolf or other at the door looking for money. I'd rather just pay £100 a month and that be that.

Also, no, I dont like the idea of energy companies profiteering at all, HOWEVER, I'd rather they do it by accumulating interest on stagnant cash than by introducing further hikes on the flat rate of energy.

[the truth]

they overcharged me £1300.....when I found out I| was apoplectic with rage, rang the barstewards waited for 45 minutes.....they eventually admitted theyd taken 1300 too much over a period of time and were willing to let me have parts of it back per month...I told politely to give me all the money back immediately or I would take legal action against that member of staff personally....I got my money back a week later, should have had interest and compensation for the time lost on phones, the interest and the stress

all these firms stink.water...gas...electrics...trains....just price fixing corrupt monopolies

[arista]

Energy Bills: EDF Confirms 3.9% Average Rise

http://news.sky.com/story/1167341/energy-bills-edf-confirms-3-9-percent-average-rise

http://media.skynews.com/media/images/generated/2013/11/12/270159/default/v3/9591987-1-1-1-522x293.jpg


Another price increase from January

[Kizzy]

Hmm, have they held out then to undercut the others?
1000's could switch now to them due to this... very tricky.

[arista]

Hmm, have they held out then to undercut the others?
1000's could switch now to them due to this... very tricky.


The French CEO
says he is doing the rise half price
as he says the Green Taxes will soon come off?

[Kizzy]

They better not!...

[arista]

They better not!...


Kizzy they come off of our Power Bills
but then go onto income tax takings.


So the green - will carry on but
another route

[arista]

Energy Bills: Govt Gives £50 Savings Breakdown

http://news.sky.com/story/1176344/energy-bills-govt-gives-50-savings-breakdown


That green money now goes will get paid for via other Taxes collected.
More to come soon

[user104658]

£50 a year off of my £1,410 bill. Woohoo! Now I'll only have to pay £1,360. I'm going to be loaded. The only question now is, what will I do with my extra £4.17 every month? A sandwich, maybe? No... no, I've got it, I'll buy a whole extra block of cheese! EVERY MONTH! omfg...

[Cherie]

£50 a year off of my £1,410 bill. Woohoo! Now I'll only have to pay £1,360. I'm going to be loaded. The only question now is, what will I do with my extra £4.17 every month? A sandwich, maybe? No... no, I've got it, I'll buy a whole extra block of cheese! EVERY MONTH! omfg...

I see what you are saying but the 50.00 equates to approximately 4% and considering the hoo haa we make when prices go up by 8% at least it is going in the right direction, I would rather have the 50.00 then them, just wondering what they are going to tax to redress the balance..

[arista]

Yes its not much.

More reductions to come
Thursday - maybe

[user104658]

I see what you are saying but the 50.00 equates to approximately 4% and considering the hoo haa we make when prices go up by 8% at least it is going in the right direction, I would rather have the 50.00 then them, just wondering what they are going to tax to redress the balance..

Well exactly, the £50 a year is just going to be taken from elsewhere... so what's the point? And how is it going to stop the energy companies from hiking their prices by another 8% a year or two down the line? That's the issue here... the government need to find a way to stop energy prices from increasing any further, so much faster than inflation. Small reductions short term are of no use to anyone.

[joeysteele]

The thing that is wrong as to this policy is the fact that the Energy companies are let off scot free as to any reductions.

This £50 is from the already announced £100+ increases which also all come on top of all the price rises customers have had year on year for the last few years.

A panic measure that again leaves more questions that it answers,except that this coalition govt. is clearly useless at taking on the energy companies directly.

[the truth]

well that's the tories out at the next election.....pitiful

[arista]

well that's the tories out at the next election.....pitiful


No More Reductions to come before Election