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Gas & Electricity prices

melanie789 Avatar
8y, 1m agoPosted 8 years, 1 month ago
As the prices of gas & electric are linked directly to the price of oil, how come we are still paying grossly inflated prices when the price of oil has halved?? Since our useless government don't seem interested in asking this question, and have indeed recently abolished EnergyWatch, you might want to contact your supplier and ask them the question directly. They are quick enough to put up prices when the cost of oil rises, so they have no excuse whatsoever for not reducing them now. Don't be fobbed off with excuses that suppliers in Norway and Russia are still charging them the same price, and that it will take time for price cuts to filter through. When oil prices rise, gas & electric prices rise. When oil prices fall, gas & electric prices fall...PERIOD! By my estimation we should all be paying around 40-50% less per kwh. At least petrol suppliers seem to slowly be doing the decent thing, so it's high time the big six greedy energy suppliers followed suit. I think they see Joe public as a bunch of saps who will just sit back & accept it, but I for one am fed up. Anyone else feel the same way? You will do when your winter bills arrive.
melanie789 Avatar
8y, 1m agoPosted 8 years, 1 month ago
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banned#1
because they are still using the reserves from higher prices paid so it will come down slowly and not as quickly as it went up
1 Like #2
fragaliciousbob
because they are still using the reserves from higher prices paid so it will come down slowly and not as quickly as it went up


So how come when the price of oil goes up, they don't hold the price down by using reserves from lower prices? Why try and defend them when we all know they are thieves. They are all the same. Look at that OPEC meeting yesterday! How blatant is that? The price of oil is coming down so we will stop making so much so that demand, and with it the price, will have to rise!! They make me sick.

Melanie: We are all fed up. The trouble is there is not a thing we can do about it. They all do the same so we can't even vote with our feet.
banned#3
deek72;3283889
So how come when the price of oil goes up they don't hold the price down by using reserves from lower prices?

actually they do and ofgem confirmed this only a few days ago. BG only puy up their prices for click energy customers a month ago yet the spot prices paid were twice as high (as at december 2007 when they purchased it).

They will come down again around March next year assuming they have the good sense to bulk buy now at current prices!
#4
Wouldn't trust a word OFGEM said, as they are patently useless in all respects. The only body that actually cared about consumers was Energywatch, and they have been shut down by the Government. I fail to see how anybody can defend the 6 major enery companies, unless they are shareholders, work for OFGEM, or one of the companies themselves. Symptomatic of the "sure, carry on kicking me in the nuts" society we live in. How come most of the rest of Europe pay far less for energy than we do, when most of it comes from the same source? Can't see Eastern European citizens on far less than our minimum wage being able to afford the prices we pay. It's a con, pure and simple, and we are all mad to allow it to carry on. Unfortunately, short of mass refusal to pay bills (a'la Poll Tax) there ain't a lot we can do.
banned#5
melanie789;3284258
Wouldn't trust a word OFGEM said, as they are patently useless in all respects. The only body that actually cared about consumers was Energywatch, and they have been shut down by the Government. I fail to see how anybody can defend the 6 major enery companies, unless they are shareholders, work for OFGEM, or one of the companies themselves. Symptomatic of the "sure, carry on kicking me in the nuts" society we live in. How come most of the rest of Europe pay far less for energy than we do, when most of it comes from the same source? Can't see Eastern European citizens on far less than our minimum wage being able to afford the prices we pay. It's a con, pure and simple, and we are all mad to allow it to carry on. Unfortunately, short of mass refusal to pay bills (a'la Poll Tax) there ain't a lot we can do.

The reason we pay more is that electricity is mainly generated from gas and gas is mainly imported from Russia. Russia charges the UK more than other EU countries and the EU and the muppets in Westminister sit back and take it up the backside :x

Since whne has the EU done anything for the UK citizens (apart from allowing us duty free cigs which saves me £2000 a year in tax!).

Remember, higher fuel costs = higher VAT = more money for GB & co to flush down the swanny.

The energy companies are not the main culprits
banned#6
melanie789;3284258
It's a con, pure and simple, and we are all mad to allow it to carry on. Unfortunately, short of mass refusal to pay bills (a'la Poll Tax) there ain't a lot we can do.

Actually, poll tax was the fairest method of local income tax collection as opposed to what we have now where a single pensioner pays the same as 8 people in the house next door. My council tax is more than my income tax (£185 per month!) :w00t:
#7
Quite agree with the sentiments on Poll Tax. Feel very sorry for those on low incomes living alone, when a family of 4 or more pay the same - totally unfair. Maybe I'm being cynical, but it would certainly be in the interests of the Government if energy price reductions came along nearer to the next election. Don't think it matters how rosy things might be looking by then, the writing is well and truly on the wall for Gordon & co. Also agree on the ciggy front, two trips to Belgium a year save me nigh on a grand. Not doing my health a lot of good, but nor is sitting indoors freezing to death cos of the price of gas!!
banned#8
melanie789;3284408
Quite agree with the sentiments on Poll Tax. Feel very sorry for those on low incomes living alone, when a family of 4 or more pay the same - totally unfair. Maybe I'm being cynical, but it would certainly be in the interests of the Government if energy price reductions came along nearer to the next election. Don't think it matters how rosy things might be looking by then, the writing is well and truly on the wall for Gordon & co. Also agree on the ciggy front, two trips to Belgium a year save me nigh on a grand. Not doing my health a lot of good, but nor is sitting indoors freezing to death cos of the price of gas!!

A recent study showed 44% of cigs are imported :w00t:

Just shows that raising taxes on things like cigs actually means less tax revenue as people just buy them abroad. The tax we save pays for our holidays 3 times a year!

I still dont understand how you can't buy cigs at UK airports when travelling to another EU country yet EVERY airport I have flown from outside the UK allows anyone to buy as many as they like!
#9
Great post Melanie - we are clearly seeing profiteering of the highest order and those daft enough to spin out the same old yarn about lags are either working for the oil companies or the government..

We are been shafted big time here and naturally the goverment do sod all to protect their huge vat slice of all this greed.

You watch the prices will eventualy be forced down by the media but I can assure you it'll happen next March when they've filled their pockets with our huge winter fuel usageat vastly inflated prices......blood money as some old people will probably die this winter due to inability to afford to heat their homes...only our sad pathetic country could let such a thing happen.......:x

BP's unethical results today tells you everything you need to know about oil & energy companies.
#10
Energywatch was run by idiots for idiots...

The price of Gas & Electric is indeed linked directly to the price of Oil but mainly to the cost of coal. Most power plants in the UK are coal firing. Energy is bulk purchased (practically the same as gold or other commodoties) and then sold on at a tiny profit, because the energy you are now using was most likely purchased several months ago it will be a while before you see any downturn and that would entirely depend on the costs of fosil fuels remaining low for a sustained period not just a two week window.

OFGEM still operates in the Residential and Micro Business world for customer complaints.

Most companies offer 'social' tariffs for the eldery or those at risk - I agree that they're not well publicised and don't persoanlly know many 65+ year olds that surf the net regularly but if you know someone who would benefit why not help them along?

And you mate....

csiman
Actually, poll tax was the fairest method of local income tax collection as opposed to what we have now where a single pensioner pays the same as 8 people in the house next door. My council tax is more than my income tax (£185 per month!) :w00t:


Are spot on!
#11
Flodd
Energywatch was run by idiots for idiots...

The price of Gas & Electric is indeed linked directly to the price of Oil but mainly to the cost of coal. Most power plants in the UK are coal firing. Energy is bulk purchased (practically the same as gold or other commodoties) and then sold on at a tiny profit, because the energy you are now using was most likely purchased several months ago it will be a while before you see any downturn and that would entirely depend on the costs of fosil fuels remaining low for a sustained period not just a two week window.



So you employed by BP, Esso or the energy marketing board :roll::roll::roll:

Always the same spike up creep down....oldest trick in the book
#12
mikeyw
So you employed by BP, Esso or the energy marketing board :roll::roll::roll:


Neither... but can I ask a question?

What's wrong with making a profit? It's a supply and demand industry - If you don't like the prices you're being asked to pay for fuel then do something constructive instead of complaining all the time - That's the real Great Britain, expect everthing to land in your lap - work for it? why bother.... The problem with this country isn't the 'have's and have not's' it's the 'will's and will not's'

There are some sections of the population that because of goverment mis-management are at a dis-advantage but the majority are just too damn lazy to do anything about it...
1 Like #13
Flodd
Neither... but can I ask a question?

What's wrong with making a profit? It's a supply and demand industry - If you don't like the prices you're being asked to pay for fuel then do something constructive instead of complaining all the time - That's the real Great Britain, expect everthing to land in your lap - work for it? why bother.... The problem with this country isn't the 'have's and have not's' it's the 'will's and will not's'

There are some sections of the population that because of goverment mis-management are at a dis-advantage but the majority are just too damn lazy to do anything about it...


Are you for real ? - what exactly can I do about it.......stand outside number 10 with a placard.....turn off the heating in my home and watch my children freeze to death......go to a cheaper supplier - like one exists as they are all profiteering..

Making a profit is one thing....taking the pi$$ is a whole new ball game :x

I work my nuts off to earn a decent living and support a family.....too lazy is about the last thing I am.....what I despise is been taken for a ride by these greedy companies who we have NO CHOICE but to use.
#14
mikeyw
Are you for real ?


I am! :thumbsup:

mikeyw
what exactly can I do about it.......stand outside number 10 with a placard.....turn off the heating in my home and watch my children freeze to death


Turn DOWN the heating in your home... Wrap up warm, wear an extra layer, light some candles, do some exercise, keep the blood flowing, don't heat empty rooms - Don't be so melodramatic.

mikeyw
go to a cheaper supplier - like one exists as they are all profiteering...

Making a profit is one thing....taking the pi$$ is a whole new ball game :x


British Gas financial results : Turnover 2.3 Billion - Operating Profit £87 Million - By my reckoning about 3% profit? Show me any other industry making such a small profit margin?

mikeyw
I work my nuts off to earn a decent living and support a family


You chose to have a family? If you can't afford it don't do it...

mikeyw
what I despise is been taken for a ride by these greedy companies who we have NO CHOICE but to use.


But you do have a choice... limit your energy use, use public transport, find an alternative - and stop blaming everyone else for your situation when the only person that change it is YOU.
#15
Flodd
I am! :thumbsup:

Turn DOWN the heating in your home... Wrap up warm, wear an extra layer, light some candles, do some exercise, keep the blood flowing, don't heat empty rooms - Don't be so melodramatic.

Welcome to 2008 - it's not post war London...why should anyone be expected to live by candlelight :roll:


You chose to have a family? If you can't afford it don't do it...

I can afford it and some - that's not the point if you'd care to listen....the point is not been exploited by companies overcharging for a product we all HAVE to use....fair pricing is all people are asking for

But you do have a choice... limit your energy use, use public transport, find an alternative - and stop blaming everyone else for your situation when the only person that change it is YOU.


Who is blaming everyone else ?? - i'm blaming the profiteering energy companies who are overcharging for a product tumbling in value....not on my own either judging by the sentiment of the public at the moment :thumbsup:
#16
Flodd
Turn DOWN the heating in your home... Wrap up warm, wear an extra layer, light some candles, do some exercise, keep the blood flowing, don't heat empty rooms - Don't be so melodramatic.


Just wanted to say, no matter what, don't be lighting candles to stay warm... is it worth the risk of your house going up in flames to save a few quid?
#17
mikeyw
Who is blaming everyone else ?? - i'm blaming the profiteering energy companies who are overcharging for a product tumbling in value....not on my own either judging by the sentiment of the public at the moment :thumbsup:


I don't think 3% profit is out of line.
#18
hodsey77
Just wanted to say, no matter what, don't be lighting candles to stay warm... is it worth the risk of your house going up in flames to save a few quid?


I light candles all the time? That said I don't have any kids and wouldn't leave them unattended.
#19
When it was announce the prices were to rise by something like 40%, I had received the card to submit our readings to them.

I estimated we would use £1800 to last us until spring next year - and put in the wrong reading on the card to fix this payment.

So we wont be seeing any price increases until about May 2009.

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