Energy price rises - what's the big deal?

[NorthWestPerm2Contr]

So latest news in that nPower have increased their prices by 10.4%

BBC News - Npower to raise energy prices by 10.4%

I just called them and switched from my current fixed tariff to another fixed tariff saving me 10% on my gas bill. Price comparison sites found this to be the cheapest one of the lot (bar some strange company I have never heard of).

I asked the customer services rep what the big deal was and she said it was going to affect the standard rates mainly.... If this is the case then why not just switch to a fixed one if it is cheaper as well!?

[vetran]

So latest news in that nPower have increased their prices by 10.4%

BBC News - Npower to raise energy prices by 10.4%

I just called them and switched from my current fixed tariff to another fixed tariff saving me 10% on my gas bill. Price comparison sites found this to be the cheapest one of the lot (bar some strange company I have never heard of).

I asked the customer services rep what the big deal was and she said it was going to affect the standard rates mainly.... If this is the case then why not just switch to a fixed one if it is cheaper as well!?

The vulnerable are more likely to stay on the standard rate.
If you are in debt to a supplier you can't switch. So those having difficulty will pay more.
Its a gradual march away from the wholesale price.

[d000hg]

Is it a solid policy that energy companies will have to put people on the cheapest (ish) tariff in the future, or is that only an idea?

[NorthWestPerm2Contr]

The vulnerable are more likely to stay on the standard rate.
If you are in debt to a supplier you can't switch. So those having difficulty will pay more.
Its a gradual march away from the wholesale price.

really?

[vetran]

really?

EXCLUSIVE: higher energy bills ahead for many as firms scrap low tariffs - UK - News - London Evening Standard

Citizens Advice - You can

no its a reality they are moving all their users up to standard tariffs.

[SueEllen]

So latest news in that nPower have increased their prices by 10.4%

BBC News - Npower to raise energy prices by 10.4%

I just called them and switched from my current fixed tariff to another fixed tariff saving me 10% on my gas bill. Price comparison sites found this to be the cheapest one of the lot (bar some strange company I have never heard of).

Your 10% saving is actually the price from the 12-18 months before.

Every time you fix you are paying the price 12-18 months ago so your energy prices are rising but more slowly than everyone else.

[scooterscot]

Are you guys having energy prices again?

House prices rises, energy prices rises, food price rises, it's all about the rises with you guys. It's a good job salaries are keeping pace with those double digit increases.

Is inflation still at 2%?

[Paddy]

Are you guys having energy prices again?

House prices rises, energy prices rises, food price rises, it's all about the rises with you guys. It's a good job salaries are keeping pace with those double digit increases.

Is inflation still at 2%?

You are confusing fixed assets with consumables and necessities. Go and re-think.

[d000hg]

Are you guys having energy prices again?

Energy prices seem to be a feature of modern live.

[NorthWestPerm2Contr]

Your 10% saving is actually the price from the 12-18 months before.

Every time you fix you are paying the price 12-18 months ago so your energy prices are rising but more slowly than everyone else.

I am just happy that I am saving 10% on my bill until April 2015. That's not a bad deal in the current economic climate. Should the economy start to recover by that time then it shouldn't be such a problem if prices go up again.

I am also going to be making various changes to my house (insulation, indoor sliding doors for conservatory) to make some further efficiency gains.