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British Gas Increases Prices

nadger
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British Gas Increases Prices

As expected and slightly more than SSE
http://www.bbc.co.uk/news/business-24562930
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Re: British Gas Increases Prices

I've switched to a cheaper fixed Npower tariff Smiley......but it doesn't come into effect until after their price increases Angry
Still, I'm saving £137.34 over the year.
Quote
Caroline Flint, shadow energy secretary, said: "These latest price rises show clearer than ever why Labour's price freeze is needed."

Can a government tell a private company what it should charge it's customers considering world wholesale prices?
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Re: British Gas Increases Prices

Quote from: Strat
Can a government tell a private company what it should charge it's customers considering world wholesale prices?

Why can't the government set up a company and sell gas/electricity at cost to consumers?
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Re: British Gas Increases Prices

Probably because it costs money outside of the wholesale price to sell anything.
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Re: British Gas Increases Prices

Saw this thread while on the phone to BG on another matter.
Last week I looked online at switching supplier and found I could make a substantial saving of well over £100 in the next 12 months. BG offered me a measly £75 retention credit. They refused to increase that when I said I could save more by switching Angry

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nadger
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Re: British Gas Increases Prices

Obviously E.On will follow suit.
Looking at 2 year fixed option which is about 5% dearer than current fixed option which has 6 months to run.
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Re: British Gas Increases Prices

On channel 4 News just now ( 12:00 ) Government energy minister, at the dispatch box, advises people.... " If you are not happy with British Gas, ...... change supplier." and he was quite "blunt" in his manner....
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Re: British Gas Increases Prices

Quote from: AndyH
Quote from: Strat
Can a government tell a private company what it should charge it's customers considering world wholesale prices?

Why can't the government set up a company and sell gas/electricity at cost to consumers?

SSE actually made a LOSS on its retail activities (ie selling gas and electricity) this year, contrary to popular belief. Profits for reinvestment came from non-retail. I suspect British Gas will be similar.
Quote
When SSE last changed its prices in October 2012, it committed not to increase prices until July 2013 at the earliest. Despite external costs continuing to rise in that time, SSE has been able to hold its prices for several months longer than that. On 30 September 2013, however, SSE stated in its Notification of Close Period that it expects to report that its Retail segment was loss-making during the six months to 30 September 2013 and this demonstrates that the rising costs cannot be absorbed beyond 15 November.

The UK power sector needs 110bn (BILLION) over the next ten years or things will become even more iffy than they already are. If Miliband et al think that freezing prices will help, then God help us all.
Steve
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Re: British Gas Increases Prices

Received letter from SSE I use PAYG meters and the standing charge for each meter Is now 28p per day so for both meters that's £ 3.92 per week before fuel costs. However I wont be using this chaps methods of saving money!
http://uk.finance.yahoo.com/news/how-i-live-without-paying-a-penny-for-heating-or-hot-water-11091823...
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Re: British Gas Increases Prices

I remember moving into a small house without a bathroom.
For months we strip washed by standing in a bowl of warm water by the sink.
An extension to the property was eventually built affording an extra bedroom and a bathroom.

The energy companies have us by the short and curlies and moving to any other provider offers relatively little savings.
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Re: British Gas Increases Prices

I just finished my fix price tariff (2 years ending 1.10) and switched to another fix price deal with same supplier (1st utility) when it finished, I am paying more than I was but less than the just announced price rises. A side benefit on the new one is I can switch without penalty if I find a cheaper one.
I DID compare all the suppliers and the deal with 1st was the cheapest for me again, and I didn't have to change anything.
This was done to death a year + ago when we discussed fixed vs variable tariff's. I prefer to fix and know what I will be spending over next n years rather than hope the increases will not be great. Or that they will actually LOWER price (not going to happen is it?)
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Re: British Gas Increases Prices

With these massive energy price hikes it's going to be another winter where many will have to choose between heat or food.
The only question is how many will have to die before the "green tax" is scrapped?
It's all very well thinking about a better future for "our children" but not if it means you end up with no future yourself.
kmilburn
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Re: British Gas Increases Prices

Quote from: nozzer
SSE actually made a LOSS on its retail activities (ie selling gas and electricity) this year, contrary to popular belief. Profits for reinvestment came from non-retail. I suspect British Gas will be similar.

This is one of the things that I suprised doesn't get raised more often.
The big six energy companies keep blaming wholsesale prices for the price increases, and while the retail section makes a loss or minimal profit,  their power generation arms (i.e. the wholsale part) are making more money than ever.
So it's a bit disingenuous to blame the market when they are a major player in said market!
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Re: British Gas Increases Prices

And there are suggestions that this winter will be very cold and long Sad
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nadger
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Re: British Gas Increases Prices

Bit the bullet and just switched to 2 year fixed account.
Assuming Winter Fuel Payment stays same I'll be getting an extra £100 by then as it's £300 for over 80s