23-Feb-2007
Have UK Gas & Electricity prices fallen enough?
Following on from a couple of my recent articles discussing the recent high costs of Gas and Electricity and movements in the spot markets, I thought that reader might be interested in a Motley Fool article which suggests that there is some sleight of hand with some of the announcements.
I don't think that this takes away any of my thrust that there will be more price reductions in the offing if we as consumers can create the competitive pressure and switch to the cheapest supplier at this time.
If others then want to reclaim their lost share, they will be forced to drop their prices still further.
In terms of switching, it could not be easier with price comparison engines checking the market on your behalf based upon your postcode and consumption patterns - Motley Fool has one.
My own personal preference is USwitch, having completed a painless change of supplier managed by them last year to NPower for a dual-fuel offer on Gas & Electricity.
I checked through there last week again to confirm that my existing tariff with NPower still remains competitive at this time. But it is probably worth while checking month on month to see how prices change.
Remember, don't change just when prices may be subject to seweeping change across all suppliers - you will lock yourself into a 4-6 week transition period and may delay the opportunity to move to an even cheaper supplier who has been a little slow to review their pricing.
Somwhat surprisingly, you can often go for a Green source of fuel without paying a hefty increase either....something you way want to look at
I don't think that this takes away any of my thrust that there will be more price reductions in the offing if we as consumers can create the competitive pressure and switch to the cheapest supplier at this time.
If others then want to reclaim their lost share, they will be forced to drop their prices still further.
In terms of switching, it could not be easier with price comparison engines checking the market on your behalf based upon your postcode and consumption patterns - Motley Fool has one.
My own personal preference is USwitch, having completed a painless change of supplier managed by them last year to NPower for a dual-fuel offer on Gas & Electricity.
I checked through there last week again to confirm that my existing tariff with NPower still remains competitive at this time. But it is probably worth while checking month on month to see how prices change.
Remember, don't change just when prices may be subject to seweeping change across all suppliers - you will lock yourself into a 4-6 week transition period and may delay the opportunity to move to an even cheaper supplier who has been a little slow to review their pricing.
Somwhat surprisingly, you can often go for a Green source of fuel without paying a hefty increase either....something you way want to look at
Labels: comparison, Electricity, Energy, Gas, Green, Prices, save
11-Dec-2006
When will UK fuel bills drop? Take some positive action.
There is an interesting article under the BBC News banner looking at the short to medium prospect for UK energy prices as new inter-connectors come on line bringing new gas supplies to the UK from the continent.
The latest interconnector was brought on stream at the start of December from the Netherlands into Bacton (Norfolk) and can provide for 8% of the UK Gas demand.
Because we use considerable volumes of natural gas to generate Electricity, the volatility of the Gas prices has also led to massive increases in both Gas & Electricity prices.
The BBC News article suggests that prices will not fall immediately because the Wholesale buyers will have bought at the higher prices and will need to recover their contract costs and we as consumers should not get our hopes up for custs in our fuel costs.
I take a slightly different view - much of the North Sea supply is likely to have been contracted for periods of 5,10,15, 20 years or even more and would not necessarilly have been renegotiated during the current high prices. I would expect someone to break away from the pack with lower prices and irrespective as to whether a company has bought at the higher price, then unless he brings his price down to the leading level then he will not sell his gas (or electricity) to astute buyers.
Therefore if we always buy astutely, then we can help drive down the fuel costs.
Of course, if you don't have a look now again and compare the prices being charged in the Energy Markets, then you are helping to sustain the higher prices for longer.
So.....keep an eye on the prices, compare other suppliers prices to that of your current supplier and make the switch. There is no different quality of gas or electricity arriving at your house, it is just a different billing arrangement whereby the new supplier agrees to put your energy into the network to keep it in balance.
That sounds hard to go around all the different suppliers websites and compare prices, but in practice the hard work is removed by using one of the Energy Price Comparison websites that have pulled all the information together in one place. You enter your details once and it will advise what the best offers are for your consumption pattern.
There are others out there, just 'google' for "energy price comparison". The site that I recommend is Uswitch who say that the average household could save £140 off their energy bills if they changed supplier. Click here to find out how much you could save.
Remember, don't wait for your own suppliers prices to fall. The likelihood is that you could start saving on your Gas and\or Electricity today. There is no obligation by using Uswitch, but only an opportunity to start saving now when our fuel consumption is at its peak and you have the maximum potential to save.
If you have wondered about how to buy "Green" energy from renewable sources, then Uswitch can provide comparisons for that too. Even paying a premium for "Green" energy, you could still be paying less than you are today.
Therefore ..... go be an empowered consumer and do your bit to drive fuel prices down as quickly as we can and if you can buy "Green", then the planet saves something too..
Link
The latest interconnector was brought on stream at the start of December from the Netherlands into Bacton (Norfolk) and can provide for 8% of the UK Gas demand.
Because we use considerable volumes of natural gas to generate Electricity, the volatility of the Gas prices has also led to massive increases in both Gas & Electricity prices.
The BBC News article suggests that prices will not fall immediately because the Wholesale buyers will have bought at the higher prices and will need to recover their contract costs and we as consumers should not get our hopes up for custs in our fuel costs.
I take a slightly different view - much of the North Sea supply is likely to have been contracted for periods of 5,10,15, 20 years or even more and would not necessarilly have been renegotiated during the current high prices. I would expect someone to break away from the pack with lower prices and irrespective as to whether a company has bought at the higher price, then unless he brings his price down to the leading level then he will not sell his gas (or electricity) to astute buyers.
Therefore if we always buy astutely, then we can help drive down the fuel costs.
Of course, if you don't have a look now again and compare the prices being charged in the Energy Markets, then you are helping to sustain the higher prices for longer.
So.....keep an eye on the prices, compare other suppliers prices to that of your current supplier and make the switch. There is no different quality of gas or electricity arriving at your house, it is just a different billing arrangement whereby the new supplier agrees to put your energy into the network to keep it in balance.
That sounds hard to go around all the different suppliers websites and compare prices, but in practice the hard work is removed by using one of the Energy Price Comparison websites that have pulled all the information together in one place. You enter your details once and it will advise what the best offers are for your consumption pattern.
There are others out there, just 'google' for "energy price comparison". The site that I recommend is Uswitch who say that the average household could save £140 off their energy bills if they changed supplier. Click here to find out how much you could save.
Remember, don't wait for your own suppliers prices to fall. The likelihood is that you could start saving on your Gas and\or Electricity today. There is no obligation by using Uswitch, but only an opportunity to start saving now when our fuel consumption is at its peak and you have the maximum potential to save.
If you have wondered about how to buy "Green" energy from renewable sources, then Uswitch can provide comparisons for that too. Even paying a premium for "Green" energy, you could still be paying less than you are today.
Therefore ..... go be an empowered consumer and do your bit to drive fuel prices down as quickly as we can and if you can buy "Green", then the planet saves something too..
Labels: comparison, Electricity, Energy, Gas, Green, Prices, save
Link
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