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    Energy prices can not come down until May 7th (Due to Labour spilling the beans)

    On the radio at present...

    Head of the energy dept who represents energy companies saying if Labour had kept their policy quiet (which was never going to happen) then prices would of fallen already, but it is simply energy companies hedging their bets and if Labour gain power they are set for the price freeze, and if they don't price cuts will happen quickly after May 7th

    just in case you are not aware, Labour have a policy where as soon as they gain power they will freeze energy prices for 3 years

    33 Comments

    I'm sure there is more to it than that.

    Original Poster

    miikeyblue

    I'm sure there is more to it than that.



    of course, but he was talking in general, that even if they could, they would not until May 7th, basically saying it was stupid to advertise a policy that they would of known would of had this effect, but of course they wanted the pre-election credit

    Crazy stuff, reminds me of when Gordon Brown said "I'm about to sell all our gold reserves".

    Idiots.

    Of course this policy was more about winning votes than serving the people. (_;)
    Edited by: "[email protected]" 12th Jan 2015

    So energy prices go down as the weather warms up? Almost as coincidental as prices going up as temperatures go down.

    Well it is a sure fact that the ConLibs have done SFA to force the greedy 6 to reduce prices.

    One big cartel.

    All Labour have done is given them an excuse not to drop prices...... if Labour hadn't done, the energy companies would have just thought of another excuse.
    We all know what energy companies are like by now.

    Can't blame anyone else except Ofgem and the big energy companies and successive governments.

    Had the big energy companies.not made millions in profits and continued year on year to raise prices as soon as the markets energy prices increased and never dropped them at similar speediness - yes the current government could have done more and so could the previous governments except for the backhanders the politicians receive from these big profiteers.

    Had Ofgem the gonads or authority to take action then maybe Labour wouldn't have had to make the promise.

    Sadly Labour, with Aardman Miliband as there leader, haven't got a hope in hell of winning the next General Election so it's a poor excuse the the big energy companies are using to make more profits.

    We need a political party that's manifesto is written in blood and stops the cartels, the backhanders, the profiteers, the tax avoidance and puts more back into the government than currently takes!
    Edited by: "philphil61" 12th Jan 2015

    best firm @ moment is co-operative energy....cheapest so far....

    It isn't that simple to be honest. The delay between any drop in market price and the knock on effect for residential customers is around 2 - 3 months (depending on hedging strategy).

    The average profit on a domestic energy bill is about £100 all considered, that's assuming you never complain or make repeated calls to customer services.

    Labour's promise to freeze prices is practically unworkable and will only lead to higher business rates to subsidise domestic.

    If you want lower energy bills, use less energy...

    sum7865

    best firm @ moment is co-operative energy....cheapest so far....



    Depends where you live, what tariff you're on, if you have decent credit... etc etc...

    sum7865

    best firm @ moment is co-operative energy....cheapest so far....



    For you, but not for everyone because we have this strange antiquated system whereby we get charged different amounts depending on geographical locations.

    Banned

    I switch every couple of years. Bills have gone down despite prices generally rising.

    Banned

    Is there anyone who still believes privatisation of this sector was a good thing?

    Villa

    Is there anyone who still believes privatisation of this sector was a … Is there anyone who still believes privatisation of this sector was a good thing?




    No, and it is even worse with water supply, that was privatised and we do not even have a choice of supplier.

    Villa

    Is there anyone who still believes privatisation of this sector was a … Is there anyone who still believes privatisation of this sector was a good thing?



    Only people who have rubber wallpaper.

    The energy companies attitude with customers is very bad though..

    I paid my gas and electric for years perfect in fact i am always in credit with Gas, but this year i accidentally cancelled my Electric direct debit, and within a week I got a notice of disconnection!! rang them and all sorted but seriously they need to massively work on relations.

    Inactive

    For you, but not for everyone because we have this strange antiquated … For you, but not for everyone because we have this strange antiquated system whereby we get charged different amounts depending on geographical locations.



    It's because your distribution company have to cover the cost of taking the electricity from your local power station and delivering it to your home. Each location will have it's own challenges and thus different costs.

    It's also beacuse they are completely unregulated and can charge what they like.

    Ironically the biggest effect on the p/pkwh cost is the green levies added by both this and the prvious government. If labour really wants to lower energy prices then it should re-think the subsidies it gives to renewable energy.

    Flodd

    It isn't that simple to be honest. The delay between any drop in market … It isn't that simple to be honest. The delay between any drop in market price and the knock on effect for residential customers is around 2 - 3 months (depending on hedging strategy).The average profit on a domestic energy bill is about £100 all considered, that's assuming you never complain or make repeated calls to customer services.Labour's promise to freeze prices is practically unworkable and will only lead to higher business rates to subsidise domestic.If you want lower energy bills, use less energy...



    It can be even less than that. I know one supplier only makes £45 profit. One call out and that profit is gone.

    philphil61

    Can't blame anyone else except Ofgem and the big energy companies and … Can't blame anyone else except Ofgem and the big energy companies and successive governments.Had the big energy companies.not made millions in profits and continued year on year to raise prices as soon as the markets energy prices increased and never dropped them at similar speediness - yes the current government could have done more and so could the previous governments except for the backhanders the politicians receive from these big profiteers.Had Ofgem the gonads or authority to take action then maybe Labour wouldn't have had to make the promise.Sadly Labour, with Aardman Miliband as there leader, haven't got a hope in hell of winning the next General Election so it's a poor excuse the the big energy companies are using to make more profits.We need a political party that's manifesto is written in blood and stops the cartels, the backhanders, the profiteers, the tax avoidance and puts more back into the government than currently takes!


    oddschecker.com/pol…ity

    haritori

    The energy companies attitude with customers is very bad though..I paid … The energy companies attitude with customers is very bad though..I paid my gas and electric for years perfect in fact i am always in credit with Gas, but this year i accidentally cancelled my Electric direct debit, and within a week I got a notice of disconnection!! rang them and all sorted but seriously they need to massively work on relations.


    EDF ?

    miikeyblue

    It can be even less than that. I know one supplier only makes £45 profit. … It can be even less than that. I know one supplier only makes £45 profit. One call out and that profit is gone.




    Come off it, they are milking Joe Public for millions every year, look at their profit margins overall.

    KillFelix

    I switch every couple of years. Bills have gone down despite prices … I switch every couple of years. Bills have gone down despite prices generally rising.



    You must have been on some awful tariff to begin with then. I too shop around and that hasn't been the case for me.

    Biggest saving to my energy bill, kicking the ex out Flipping stunned at what that has saved me.

    Banned

    moneysavingkitten

    You must have been on some awful tariff to begin with then. I too shop … You must have been on some awful tariff to begin with then. I too shop around and that hasn't been the case for me.Biggest saving to my energy bill, kicking the ex out Flipping stunned at what that has saved me.



    The trick is just getting to know how much you use in a certain property, which takes about a year or two to figure out. Since then it's been going down steadily each year, switching tariffs and providers etc.

    Either way, can't complain!

    Inactive

    Come off it, they are milking Joe Public for millions every year, look at … Come off it, they are milking Joe Public for millions every year, look at their profit margins overall.



    Lets see shall we... so npower made £109 million EBITDA (I think) in 2014. bbc.co.uk/new…853
    They have six million customers.

    Do some rough maths...

    There is no profit in domestic energy. Seriously, as a business model, you wouldn't bother if it wasn't for the cash flow.

    [[email protected]]Crazy stuff, reminds me of when Gordon Brown said "I'm about to sell all our gold reserves".
    Idiots.
    You mean when he give our gold away ,the same way they let every terrorist in from around the world and give our security away, and give the NHS away to be used by every worldwide freeloader .
    Some party Labour turned out to be, now its the poor of this country who,s suffering the most because they cant get decent paid work when they millions from abroard competing for those jobs.

    Flodd

    Lets see shall we... so npower made £109 million EBITDA (I think) in … Lets see shall we... so npower made £109 million EBITDA (I think) in 2014. http://www.bbc.co.uk/news/business-28788853They have six million customers.Do some rough maths...There is no profit in domestic energy. Seriously, as a business model, you wouldn't bother if it wasn't for the cash flow.




    Well I don't see any of the big 6 dropping out of the business.

    Oh and NPower are hardly an example of a well run business.

    philphil61

    Can't blame anyone else except Ofgem and the big energy companies and … Can't blame anyone else except Ofgem and the big energy companies and successive governments.Had the big energy companies.not made millions in profits and continued year on year to raise prices as soon as the markets energy prices increased and never dropped them at similar speediness - yes the current government could have done more and so could the previous governments except for the backhanders the politicians receive from these big profiteers.Had Ofgem the gonads or authority to take action then maybe Labour wouldn't have had to make the promise.Sadly Labour, with Aardman Miliband as there leader, haven't got a hope in hell of winning the next General Election so it's a poor excuse the the big energy companies are using to make more profits.We need a political party that's manifesto is written in blood and stops the cartels, the backhanders, the profiteers, the tax avoidance and puts more back into the government than currently takes!

    haritori

    The energy companies attitude with customers is very bad though..I paid … The energy companies attitude with customers is very bad though..I paid my gas and electric for years perfect in fact i am always in credit with Gas, but this year i accidentally cancelled my Electric direct debit, and within a week I got a notice of disconnection!! rang them and all sorted but seriously they need to massively work on relations.



    Swalec.

    Inactive

    Well I don't see any of the big 6 dropping out of the business.Oh and … Well I don't see any of the big 6 dropping out of the business.Oh and NPower are hardly an example of a well run business.



    You can take any of them and it'll still be the same. No they're not in danger of going out of buiness cause £170 million profit is still £170 million profit.

    There are plenty of other industries turning a much greater profit that escape critisism, Apple & sky to name two.

    The question you should ask yourself is in my list of priorities how high is heating and lighting my home? Can I still afford to shell out £60 a month to Sky or £45 a month for an iphone or should I acceot that the cost of energy is rising and that I have to make cuts elsewhere.

    The cheapest energy you use is the energy you don't use.

    As the thread is veering into the political; I found these imaginary posters (independent on line) for the election, thought they were better than some of the real ones X) ;
    http://i100.independent.co.uk/image/15360-1jvsiay.JPG
    http://i100.independent.co.uk/image/15360-4sp8tw.JPG
    http://i100.independent.co.uk/image/15360-vjiqj3.JPG
    http://i100.independent.co.uk/image/15360-kmo8w3.JPG
    http://i100.independent.co.uk/image/15360-ddc3pa.JPG

    I'm not into UKIP, but I think I laughed the loudest at that one (greens was plain boring).

    Greens make the most sense.

    They've all got something in common, They all promise the world and deliver nothing.!!!.

    Energy prices can not come down until May 7th (Due to Labour spilling the … Energy prices can not come down until May 7th (Due to Labour spilling the beans)



    Took less than a day for e-on to announce price cuts...:D

    splatsplatsplat

    Took less than a day for e-on to announce price cuts...:D



    Which suggests this ofgem guy was talking out of his ****. It takes more than a day to plan these cuts - not least because they have to draft in extra staff to man the phone lines for the huge influx of enquiries and new customers they bring.
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