Energy Prices - are they taking the piss???

[cosmicchris00]

The answer is quite simply yes.

Absolute piss takers taking advantage of the pandemic to rise prices and cut down any outside competition from the big six.

Essentially ran as a pact so they can monopolise the market in unison under agreed price rates that tips off the consumer.

The wholesale price of gas has been jacked up by The Little Vlad Gang.

Shivver or don't shivver

Either way we're screwed

 

[Cee Jay]

Pay about £1700 a year and fully expect this to soar. God knows how some families etc can afford the expected price of gas/Electric in future.

 

[joemcdokes]

Its still a lot more expensive

Not alot you can do about it other than turning the heating off or downgrading the 96 inch telly.

 

[No7]

Hold fast.
Martin Lewis was saying the other week not to take up any offers like this and wait.

And what's come out now (as per his tweets yesterday), is the price cap for standard tariffs is raising 51%. Tomorrow night, he is supposedly going to be advising to get the cheapest fixed deal you can

 

[Anth9ftm]

Hold fast.
Martin Lewis was saying the other week not to take up any offers like this and wait.

He's been wrong in advising this over the last few months, and it'll cost people a lot of money.

 

[No7]

He's been wrong in advising this over the last few months, and it'll cost people a lot of money.

He hasn't to be fair. When it all kicked off, he was quite correct in advising people to stay on standards, because it was miles cheaper than what people had to pay when they got moved over from their bust supplier

 

[joemcdokes]

On the plus side, all those LED bulbs are saving more money now.

 

[Old Prestonian]

And what's come out now (as per his tweets yesterday), is the price cap for standard tariffs is raising 51%. Tomorrow night, he is supposedly going to be advising to get the cheapest fixed deal you can

The anticipated standard tariff price increase (and much more) is already baked into the fixed price tariffs currently available. The hope is that over the Summer months that wholesale prices will reduce and better fixed price deals will be available later in 2022.

 

[Chatty83]

None of that's true like.

So they say yet all big six have been bragging about record profits in 2021:

EDF nearly triples profit in first half of 2021

E.ON's nine-month profit soars on weather, cost cuts, one-offs

E.ON's nine-month profit rose by nearly half, the German energy firm said on Wednesday, citing cooler weather, cost cuts at its British retail business as well as compensation related to the country's nuclear exit.

www.reuters.com

British Gas profits more than double after colder first half

Sharp increase in earnings comes despite UK’s biggest energy supplier losing customers

www.ft.com

Other stuff going on it seems to me more like they are clawing back losses from 2020 than out else otherwise they could pull back on the prices and take the hit themselves in the short term and await other things to stabilise

 

[No7]

The anticipated standard tariff price increase (and much more) is already baked into the fixed price tariffs currently available. The hope is that over the Summer months that wholesale prices will reduce and better fixed price deals will be available later in 2022.

Hope it happens sooner or later because my next quoted deals are through the roof compare to what I'm currently paying

 

[The Albanian]

The CEOs of the energy cartel should be stripped of their homes and bonuses and they should be used to reimburse the general publics extortionate energy bills, the f***ing bastards

 

[Teed]

Yes, they are taking the piss and laughing all the way to the bank, even If it does mean one or two deaths from hypothermia, it's profit that matters.

 

[Napoleon Dynamite]

@AndrewP come on let’s have your thoughts

You’ll have a cheap deal lined up

 

[Gaz]

Yes they are taking the piss

 

[Paddy O'Dors]

So they say yet all big six have been bragging about record profits in 2021:

EDF nearly triples profit in first half of 2021

E.ON's nine-month profit soars on weather, cost cuts, one-offs

E.ON's nine-month profit rose by nearly half, the German energy firm said on Wednesday, citing cooler weather, cost cuts at its British retail business as well as compensation related to the country's nuclear exit.

www.reuters.com

British Gas profits more than double after colder first half

Sharp increase in earnings comes despite UK’s biggest energy supplier losing customers

www.ft.com

Other stuff going on it seems to me more like they are clawing back losses from 2020 than out else otherwise they could pull back on the prices and take the hit themselves in the short term and await other things to stabilise

You do realise the two companies you have quoted are the results of their whole businesses across Europe, including generation, distribution as well as supplying? They're not bragging, they're reporting their results as they're legally obliged to do. EDF's share price tanked when they reported their results which is a good barometer about what the markets think about their profitability.

 

[look out piano]

Got a letter today from British Gas, my current deal is around £1540 a year, if I leave it to go on to standard variable rate it will rise to £2241, but they’re offering me a deal on a like for like basis, fixed until Jul 2023 for £3687!!!

Over doubling the unit rates and about 20% on standing charges!

Been onto comparison sites, which come back saying due to rising energy prices there are fewer deals available at the moment.

How the f***ing hell are already struggling families going to afford this hike in prices! I’ve had my head buried for a while, but how has this been allowed to happen?

The answer is we're not going to cope. I will just have to not use gas at all apart from for baths and washing the dishes, the daily standing charge will just come out of my credit so I'll just be keeping the meter ticking over for very little benefit whatsoever.

 

[dom]

Need to ‘Tell Sid’ we’re Nationalising the fuckers!

 

[Pacific]

really trying not to use the central heating currently knowing it's going to be colder in the coming weeks. not ideal and freezing on an evening but managing with plenty layers

 

[WHD]

EDF's share price tanked when they reported their results which is a good barometer about what the markets think about their profitability

I got a three year fixed deal with EDF in September just before the shit hit the fan. I don't agree with the French government owning our energy supplies in principle, but I I was satisfied with the deal. When the prices rocketed I was quite happy that EDF might be paying more for the energy than they are supplying it to me, thinking that there's no way they could go bust. Now I'm wondering if companies like that could just pull out of the market and leave our government to pick up the pieces, in the knowledge any legal action will be cheaper than supplying the energy?

 

[look out piano]

really trying not to use the central heating currently knowing it's going to be colder in the coming weeks. not ideal and freezing on an evening but managing with plenty layers

Yeah me too, I just feel a bit crap when the bairn is asking to put the heating on and I'm having to be really stingy with it. I'm sitting here and my nose is freezing cold but I have the tumbler on so that's generating a bit of heat for now lol.