FISO

goldenballs wrote:Bunners I'm with edf on a 2 year fix mar/apt 2014 presumably the same for yourself.You pay more in the first year and save in the second so better to wait till the end of the deal I would have thought.

Yeah agreed I guess my dilemma is will that deal still be around come March/Apr?

Surprised wrote:Utility companies exist to rip people off and make extortionate profits.

Companies with shareholders by law have to maximise profits!

The utility companies only make around 5% profit on average, the same as Sainsburys and many others (a more usual target for companies is 10%).

murf wrote:

Surprised wrote:Utility companies exist to rip people off and make extortionate profits.

Companies with shareholders by law have to maximise profits!

The utility companies only make around 5% profit on average, the same as Sainsburys and many others (a more usual target for companies is 10%).

Any company can artificially reduce profits so they don't look greedy or artificially increase them so they don't look useless. All they need to do is convince the auditors and for a big company that is as easy as taking candy from a baby

So why just pick on utility companies?

With all the easy to use comparison sites it is a reasonably good market for the consumer and therefore enough incentives to keep prices as low as possible.

No, because the accusation is that they are price setting and being\acting as a cartel, which is an insult like you would not believe - hence my evasive language and not calling them one

I saw\heard something along the lines of: the spot price changes should mean a £10 pa increase, but they are charging people over £100 pa more. (I think it was an Ofgen Rpt, which stops short of using the "c" word.)

blahblah wrote:No, because the accusation is that they are price setting and being\acting as a cartel, which is an insult like you would not believe - hence my evasive language and not calling them one

I saw\heard something along the lines of: the spot price changes should mean a £10 pa increase, but they are charging people over £100 pa more. (I think it was an Ofgen Rpt, which stops short of using the "c" word.)

It is clear that a cartel that is operating

Surprised wrote:

blahblah wrote:No, because the accusation is that they are price setting and being\acting as a cartel, which is an insult like you would not believe - hence my evasive language and not calling them one

I saw\heard something along the lines of: the spot price changes should mean a £10 pa increase, but they are charging people over £100 pa more. (I think it was an Ofgen Rpt, which stops short of using the "c" word.)

It is clear that a cartel that is operating

I agree. If they were not acting in tandem, one would surely come out with a "we're only putting prices up by 4%" or something line. They would stand to take a large chunk of the market but no, they take it in turns putting up prices first.

There has also been some very aggressive tax evasion by the said companies

This is the same sort of con as petrol & diesel. When diesel was significantly cheaper than petrol, people changed to diesel cars and stealth like over several years, what happened ?

Ashers wrote:

bluenosey wrote:You're all up against a cartel - only one winner.....

Just do what I do and underestimate the readings and then they get the proper one in summer. Spreads out the payments and helps my cash flow.

Of course, if they read the meter, I will just have written down a 7 and used a 2 instead. Exactly what my water board did with my water meter, except, surprise surprise, it was the other way around.....

Nationalise the lot.

Not if you have a smart meter that tells them automatically your reading.

which I haven't got

They can kiss my shiny metal ass.

having the fun time of just moving into a new house and sorting out an energy deal. Its a different size, different gas & electric appliances to the old place and so I don't actually know what we're likely to use now. Only info I've got is what the previous owners monthly dd was but don't know the gas/elec split.

based on the usage estimator looks like npower and edf have very similar fix deals to early 2015, will going edf and trouser the £30 for switching.

Apparently there can be a 15% discount if you phone the\your current supplier and say that you are moving.

This was one of Mr Ovo's point at Westminster, as he did not understand their 5% margin, yet this discount was regularly available from most of them (there was one that did not offer it, but I can not remember which one).

So if your say your moving supplier they could offer 15% discount?
Have you tried it?

Nope, I am on the edf mega cheap fixed until Feb 2015, so no real need and I ahve not found anyone cheaper.

But in the HoC Committee thing: Ovo kept bringing it up, and made an exception of one of the other 3 Companies.

He claimed, with no denial, except from the innocent one, that they all have Dept's to win customers back and 15% is the standard offer.

I'm on a fixed deal with edf as well,but I doubt if fixed deal customers get offered reductions- as the current tariffs at the end of the deals are that much cheaper.

From a quick look on U Switch this is the cheapest for me, with no longer fixed periods available.

Most of the fixed seem to have no costs for changing out. It isn't like Discount Mortgages with a long tie-in with high rates to follow....

Ashers wrote:What are people's annual bills on here for both gas and electric?

Is mine low at £600 per year?

Check out the first page Ashers. Is that a house or flat you live in?
I think I heard the other day that the average was about £1400?

I'd be surprised if anyone pays under £100 per month for a house.

Zimmerman wrote:

Ashers wrote:What are people's annual bills on here for both gas and electric?

Is mine low at £600 per year?

Check out the first page Ashers. Is that a house or flat you live in?
I think I heard the other day that the average was about £1400?

I'd be surprised if anyone pays under £100 per month for a house.

I pay over that for a flat. It shows how cheap energy is in the UK

Surprised wrote:

blahblah wrote:No, because the accusation is that they are price setting and being\acting as a cartel, which is an insult like you would not believe - hence my evasive language and not calling them one

I saw\heard something along the lines of: the spot price changes should mean a £10 pa increase, but they are charging people over £100 pa more. (I think it was an Ofgen Rpt, which stops short of using the "c" word.)

It is clear that a cartel that is operating

They mentioned this on the radio the other evening (not the cartel thing) but the fact that even with looking to switch, the savings are like £20-£30 pa so consequently most people can't be arsed.

This is also illustrated on this thread, that with most/all comments saying they already get the best deal.

It's bollocks!

As someone said - if one of those big company's didn't increment a 8-9% rise, they would absolutely clean up.

If for ease we assume the average is £100pm = £1200 pa. the new rises are going to equate to £100? Think most/all of us would then make the swap.

I'd be interested to know the breakdown in sales and profit of domestic and non domestic customers. I would think that most of the energy companies profits come from non domestic use. Are they raising prices for these users or are they forcing households to pick up all the increase?

Do you know what I'm sick of?

I'm sick of tosspot MPs making out they're judges on the Nuremberg war trials hauling in anyone who public opinion takes a dislike to, then doing knack all except act like Judge Judy and achieve about as much as her.

I'll pull the trigger me self.

Zimmerman wrote: They mentioned this on the radio the other evening (not the cartel thing) but the fact that even with looking to switch, the savings are like £20-£30 pa so consequently most people can't be arsed.

This is also illustrated on this thread, that with most/all comments saying they already get the best deal.

It's bollocks!

There are a few Comparison sites, and the trick is to run each one a few times: using different suppliers and your usage NOT the amount you pay. The only one cheaper than mine is EDF's fixed until March 2015, as opposed to their one until Feb 2015, which I am on, and is a matter of pence cheaper.

I doubt that FIOS'ers posting here are typical of the population, in that they are more open to looking for a cheaper option. Interestingly the OVO man said was that the market share is far from evenly distributed among the big ones. They were geographical before, and still are, which implies a lot of people have not looked to change - and those that have looked and phoned the original supplier, before switching, get a 15% discount to stay.

I heard on a R5 phone in some bloke that lives out in the sticks that buys gas in cannister form (whatever the term is) - he heats the property himself. He reckoned that the prices had only increased slightly. Would seem to be backed up by this link link :-

http://www.dailyrecord.co.uk/news/busin ... es-2651865

Zimmerman wrote:

Ashers wrote:What are people's annual bills on here for both gas and electric?

Is mine low at £600 per year?

Check out the first page Ashers. Is that a house or flat you live in?
I think I heard the other day that the average was about £1400?

I'd be surprised if anyone pays under £100 per month for a house.

Mine is £99 a month for a house - that is the actual figure. As I've said I just spread out the cost.....the big 6 look after their cashflow, why shouldn't I look after mine ??

How many people went for a fixed rate with a early penalty fee?

I didnt sawp early and have just compared prices....cheapest for me is OVO ....... has anyone heard/had any experiences of them.

can get a fixed rate for 12 months with only a small increase on my previous deal.

Plus EDF have proper annoyed me now by sending me a link to a personal calc/recommendation (from them of course) only for the what they suggested was a personal calc to be based on "standard consumption" and not mine (which they know as they are my current supplier)

If your renewal is coming up soon, Tonik Energy seem quite reasonable and have good customer service reviews.

If you like the quote you get from them, please use the link below to sign up as then you and me will get a £20 Amazon voucher:

https://tonikenergy.mention-me.com/m/ol ... 33f18a31af

Thanks to whoever it was who took up the offer