UK Energy Prices

[SnoopZ]

Originally Posted by Taf

"Ofgem has also announced today that it's going to permanently reduce standing charges for prepayment meter customers.

However, standing charges for direct debit customers and those who pay on receipt of bill will rise.

Ofgem has also introduced a temporary additional payment of £28 a year to cover the cost of customers who fall behind on bills. Prepayment meter customers won't be affected by this extra charge."

So those who fully pay will have to pay more to cover those who don't. Despite them receiving large sums of government money to help them?

https://www.walesonline.co.uk/news/u...EJ4Ka2nhUfYLD0

This makes my blood boil!

So basically everyone should switch to Pre-Payment, what a Joke.

[Mr K]

Here's a novel idea. Everyone pay the same rate, forget which company you're with, which region you're in, which meter you have.
Seems fair.
Utilities aren't a luxury product.

[Sirius]

Thank you for shafting me for being a good customer and paying my bill on time Ofgem.

[Jaymoss]

Originally Posted by Mr K

Here's a novel idea. Everyone pay the same rate, forget which company you're with, which region you're in, which meter you have.
Seems fair.
Utilities aren't a luxury product.

What is and isn't a luxury product is subjective. A homeless bloke would like it was whereas many take it forgranted

[Sirius]

Originally Posted by Paul

So basically everyone should switch to Pre-Payment, what a Joke.

Maybe that's what they want.

[FamousBeetle]

Is it a good idea to fix my price for the next 12 months? I have a feeling prices will go down this year so I am not sure if I should fix them.

[GrimUpNorth]

Originally Posted by FamousBeetle

Is it a good idea to fix my price for the next 12 months? I have a feeling prices will go down this year so I am not sure if I should fix them.

I'm no expert or qualified to give financial advice, but I'm not planning to fix ours.

[Inactive Digital]

Originally Posted by Sirius

Thank you for shafting me for being a good customer and paying my bill on time Ofgem.

That was my exact reaction. It's inherently unfair that those of us who pay our bills in full and on time end up being penalised by having to pay even more. But don't all businesses do this? Despite them making hundreds of millions of pounds of profit every year, supermarkets will factor in the costs of items that are shoplifted, perished before sale etc when setting their prices/mark-up. The difference is the supermarkets are free to add as much onto the prices of items to cover this as they like. There's no regulator limiting how much they can charge, or even telling us that it happens. Some of the food inflation that we've seen in recent years will no doubt be down to increased theft during the cost of living crisis.

[Jaymoss]

Just took the loyal Octopus Fixed 12 months. No exit fee and almost £20 cheaper per month. If better next month I switch again. Taking 1 day to switch

Waiting to see what fixed OVO do.

Their last one was withdrawn after the latest cap was announced, its prices were basically the same as the new cap.

Not sure if British Gas are still offering theirs, it looked pretty good, and less than the new cap.

[SnoopZ]

Originally Posted by Jaymoss

Just took the loyal Octopus Fixed 12 months. No exit fee and almost £20 cheaper per month. If better next month I switch again. Taking 1 day to switch

Interesting that they have ditched the £75 fee.

I'm still waiting on the list for a smart meter.

[Jaymoss]

1st April OFGEM ditch the Market Stabilisation which forced compensation from switch provider to existing supplier. So we may see new deals on the horizon. Although OFGEM have said they are extending the ban on acquisition-tariffs

Gas prices: SSE to reduce prices by 22.8% from April (Northern Ireland)

https://www.bbc.co.uk/news/uk-northern-ireland-68444511

Northern Ireland's largest provider of natural gas, SSE, is cut to its prices by 22.8% from April.

SSE says a typical household customer will save £320.47 a year as a result.
Wholesale natural gas prices have fallen sharply since they peaked after Russia's full-scale invasion of Ukraine in February 2022 - those price falls are now starting to feed through to consumer prices.

NI's largest electricity supplier Power NI is also to cut prices.

They will drop by 6.3% (2p per unit) from the start of April.

The company said the move reflected a fall in wholesale market costs and would save the average household customer £64 per year.

Other electricity suppliers have also been cutting prices as wholesale costs fall from record levels.

Power NI's prices are regulated by the NI Utility Regulator.

Power NI customer solutions director William Steele said: "As wholesale prices in the global market have fallen, Power NI has been able to deliver yet another decrease in unit prices for our customers, with our fourth consecutive tariff reduction."

[Jaymoss]

There will be fixed deals across the board I believe. Comparison sites will be back up and running with Energy.