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February 28, 2006
Powergen increase domestic gas and electricity prices
As a direct result of rising wholesale costs, Powergen has today announced that its domestic gas and electricity prices are being increased by 24.4% and 18.4% respectively.
Powergen joins the likes of British Gas, EDF Energy and ScottishPower who have announced domestic energy price increases during 2006.
2006 has already been a difficult year for all energy suppliers and already this year we have seen two domestic suppliers cease trading, Zest4 and Basic Power.
Energylinx is not surprised by this latest increase and although not welcome it is a reflection of how the wholesale energy market is faring.
'Over the next two years we believe that these double digit increases will become the norm as opposed to the exception.'
Given what has been happening in the domestic energy market recently, Energylinx would advise all customers regardless what supplier they are with to carry out a free independent energy price check as soon as possible. More than any time previously it is now definitely worth considering a fixed or capped price energy deal and this new capped price tariff from Powergen is definitely worth considering.
Domestic customers can either carry out a search for free using the most comprehensive energy calculators available in the UK by logging onto any of the following links or call Energylinx on 0800 849 7077 for a personalised quote. Energylinx will then send you a detailed domestic energy quote.
Energylinx is currently the only energy price comparison service, accredited by energywatch, that actually allow you to view and transfer to every single tariff available to your home.
These Energylinx calculators are unique in that they allow you to compare the prices of all energy suppliers.
Energylinx will arrange the whole transfer process for you, including notifying your existing supplier of any planned change and tracking the transfer to ensure that it occurs on time and accurately. Energylinx provides its services completely free of charge to the domestic consumer
Posted by energylinx at 12:06 PM Technorati: Energy Prices
February 23, 2006
Powergen launch new Capped to 2010 tariff
Powergen has today launched a new capped price domestic energy tariff where energy prices are capped until 1st March 2010.
The tariff is available to either dual fuel customers or electricity only customers and is available from Energylinx now.
This new capped price tariff is now the longest available in the UK domestic energy market and Energylinx would encourage those looking for a long term position on their domestic energy to consider this tariff.
The new 2010 Capped Price tariff comes with no extended tie ins or penalties for leaving before the end of the capped period.
Given what has been happening in the domestic energy market recently, Energylinx would advise all customers regardless what supplier they are with to carry out a free independent energy price check as soon as possible. More than any time previously it is now definitely worth considering a fixed or capped price energy deal and this new capped price tariff from Powergen is definitely worth considering.
Domestic customers can either carry out a search for free using the most comprehensive energy calculators available in the UK by logging onto any of the following links or call Energylinx on 0800 849 7077 for a personalised quote. Energylinx will then send you a detailed domestic energy quote.
Energylinx are currently the only energy price comparison service, accredited by energywatch, that actually allow you to view and transfer to every single tariff available to your home.
These Energylinx calculators are unique in that they allow you to compare the prices of all energy suppliers.
Energylinx will arrange the whole transfer process for you, including notifying your existing supplier of any planned change and tracking the transfer to ensure that it occurs on time and accurately. Energylinx provides its services completely free of charge to the domestic consumer
Posted by energylinx at 05:43 PM Technorati: Energy Prices
February 17, 2006
British Gas increase energy prices by 22%
Against a backdrop of unprecedented increases in the wholesale cost of energy, caused in part by anticompetitive practices in Europe, Centrica plc is today announcing a change to its British Gas tariffs for domestic gas and electricity customers.
The cost of buying gas for 2006 is now 63% higher than in 2005 and some 202% higher than 2003(1). Wholesale gas prices in Britain are now the highest in Europe, yet consumers here still pay substantially less than in many European countries including Germany, France and Italy, where prices are also rising sharply (2).
As reported in Centrica's trading statement in December, British Gas's residential energy business made a loss in the second half of 2005 as a result of its decision to absorb a portion of the additional wholesale energy costs to reduce the impact on customers. Following the further substantial rises in wholesale energy costs British Gas has been forced to increase its gas and electricity domestic energy prices by 22% with effect from 1 March 2006. Even after these increases, British Gas continues to shoulder a portion of the burden of these higher wholesale costs.
Customers who have already signed up for Price Protection 2007 and 2010, some 2 million accounts, will not be affected by these price increases. Following the success of these offers, British Gas is today launching Price Protection 2009, enabling dual fuel customers to fix their energy prices until April 2009.
Mark Clare, Managing Director, said: 'The energy map is being redrawn with Britain now dependent on gas imports from Europe, a market the Commission says is seriously malfunctioning. Recent events in Russia have underlined how our energy markets are connected and this has served as a wake up call across Europe.
While there can be no guarantees in such a volatile wholesale market, we see no need for any further price rises this year, assuming the infrastructure is ready to deliver new gas next winter and that proper action is taken following the Commission's findings.'
Given these latest gas and electricity price increases, Energylinx would advise all customers regardless what supplier they are with to carry out a free independent energy price check as soon as possible. More than any time previously it is not definitely worth considering a fixed or capped price energy deal. Most importantly at this time also make sure that the comparison service is 100% impartial.
Domestic customers can either carry out a search for free using the most comprehensive energy calculators available in the UK by logging onto any of the following links or call Energylinx on 0800 849 7077 for a personalised quote. Energylinx will then send you a detailed domestic energy quote.
Energylinx are currently the only energy price comparison service, accredited by energywatch, that actually allow you to view and transfer to every single tariff available to your home.
These Energylinx calculators are unique in that they allow you to compare the prices of all energy suppliers.
Energylinx will arrange the whole transfer process for you, including notifying your existing supplier of any planned change and tracking the transfer to ensure that it occurs on time and accurately. Energylinx provides its services completely free of charge to the domestic consumer.
(1)Source: gas prices based on IPE data. Electricity prices based on Spectron Data and Heren Data
(2) Government figures before these latest increases show householders in France pay 37% more, in Germany 84% more, in Italy 107% more and in Denmark 187% more. (Source : DTI Quarterly Energy Prices Jul 04-Dec 05, based on pence/kwh)
Posted by energylinx at 07:27 PM Technorati: Energy Prices
February 15, 2006
Soaring wholesale costs force EDF Energy to raise prices
Due to soaring wholesale costs, EDF Energy are to increase their gas and electricity prices across all their brands; EDF Energy, London Energy, Seeboard Energy and SWEB Energy from 13 March 2006. Energylinx, the UK's largest specialist energy price comparison is already displaying the new prices and further analysis of these latest gas and electricity price increases is provided below.
Wholesale gas and electricity costs have risen by 100% and 90% respectively since January 2005. Additionally, carbon prices have risen by 380% over the same period.
EDF Energy currently have over 300,000 customers on capped or fixed rates will not be affected by today's announcement. They are protected from further rises until 2007 and 2008 respectively.
In parallel with these latest increases EDF Energy have launched a new fixed price tariff until 2008 to provide further protection for their domestic customers. This tariff is available to the first 100,000 new and existing customers who register before 30th June 2006.
60,000 EDF Energy customers on low incomes will continue to benefit from special help. Their prices are currently frozen at 2004 levels until 31st March. From 1st April, they will benefit from a new tariff for their 'most in need' customers called 'Energy Assist'. Customers on 'Energy Assist' will receive a discount of 15% for the first year, against EDF Energy standard tariffs. Based on typical household usage on dual fuel, this amounts to a saving of about £120 a year.
Derek Lickorish, Chief Operating Officer of EDF Energy Customers Branch, said: 'With soaring wholesale energy costs, we have been forced to raise our prices. However, through ownership of our own generating capacity, we have been able to limit the overall rise for all our customers. Further, we are launching a new fixed rate product for those who want reassurance for their household budget. In addition, we've also made special arrangements to continue to protect those customers who are most in need. EDF Energy is committed to remaining competitive in the energy market whilst continuing to provide excellent customer service.'
Energylinx believes that due to wholesale price increases that this latest increase in domestic gas and electricity is not unexpected. 'We believe that over the next few weeks a number of suppliers who have been contemplating increases may well implement them. Our advice is to look seriously at capped or fixed price energy deals on offer now at make the change today. It will only take a few minutes to arrange the transfer through Energylinx and the savings available today are on average £170 per annum.'
Looking specifically at the latest increases in energy prices announced by EDF Energy we see the affect on a typical customer paying by monthly direct debit:
| Local Distribution Area | Pre Increase | Post increase | increase | % increase |
| East Midlands | £705.65 | £785.68 | £80.03 | 11.34% |
| Eastern | £692.80 | £772.27 | £79.47 | 11.47% |
| London | £735.32 | £816.76 | £81.44 | 11.07% |
| Manweb | £740.49 | £822.13 | £81.64 | 11.03% |
| Midlands | £703.95 | £783.94 | £79.99 | 11.36% |
| Northern | £695.85 | £775.42 | £79.57 | 11.43% |
| Norweb | £692.29 | £771.70 | £79.41 | 11.47% |
| Scottish Hydro | £742.22 | £824.08 | £81.86 | 11.03% |
| Scottish Power | £744.65 | £826.39 | £81.74 | 10.98% |
| Seeboard | £727.10 | £808.09 | £80.99 | 11.14% |
| Southern | £715.92 | £796.51 | £80.59 | 11.26% |
| Swalec | £758.22 | £840.91 | £82.69 | 10.91% |
| SWEB | £757.72 | £840.25 | £82.53 | 10.89% |
| Yorkshire | £697.65 | £777.13 | £79.48 | 11.39% |
| Average UK wide increase | 11.20% | |||
| Based on standard domestic consumer consuming an average 3,300 kWhs electricity and 20,500 kWhs of gas per annum - paying by monthly direct debit. 15.02.06. Source www.energylinx.co.uk | ||||
Domestic customers can either carry out a search for free using the most comprehensive energy calculators available in the UK by logging onto any of the following links or call Energylinx on 0800 849 7077 for a personalised quote. Energylinx will then send you a detailed domestic energy quote.
Energylinx are currently the only energy price comparison service, accredited by energywatch, that actually allow you to view and transfer to every single tariff available to your home.
These Energylinx calculators are unique in that they allow you to compare the prices of all energy suppliers.
Energylinx will arrange the whole transfer process for you, including notifying your existing supplier of any planned change and tracking the transfer to ensure that it occurs on time and accurately. Energylinx provides its services completely free of charge to the domestic consumer.
Posted by energylinx at 09:30 PM Technorati: Energy Prices
February 06, 2006
Domestic Energy Customers are losing out on over one billion pounds by not switching
* Over 10 million domestic customers are losing out on over £1 billion by not switching supplier
* Competition alive and well in the energy market despite recent price increases
* 300,000 gas and electricity customers changing supplier each month
Customers who have never switched energy supplier are losing out on savings of over £1 billion, according to energy regulator Ofgem.
Despite recent rises in energy bills, research published today by Ofgem shows that competition is still vigorous. While all suppliers have increased their prices over the last two years there are still significant differences in the prices charged by the different firms. This means that customers who have never switched can still save around £100. Other signs that competition is alive and well include:
- suppliers are innovating to offer customers greater choice and manage higher fuel bills - there are now a range of capped, fixed price and internet only deals
- British Gas continues to lose market share - six per cent between June 2004 - June 2005, leaving it with only 53 per cent of the UK gas market
- in some electricity areas suppliers have retained less than 50 per cent of their market share,*and
- over 300,000 customers are changing supplier each month in gas and electricity.
Customer satisfaction is also high with over 80 per cent of customers satisfied with their energy company. However, Ofgem is keen to see service standards improve further for all companies and has given the industry until July this year to improve some aspects of billing.
Ofgem's Chief Executive Alistair Buchanan said: "Higher energy prices mean getting the best deal for your energy has never been so important. Customers who have never switched supplier, are leaving their existing energy companies to pocket the £1 billion a year that could be saved if they switched to a new supplier.
"Our message to customers is to be Energy Smart and take advantage of the strong competition in the energy market and get yourself a better deal for your energy. There are savings of around £100 a year and suppliers are also competing for your business by offering fixed-price and internet deals."
Customers can also help to keep their energy bills as low as possible by taking advantage of the advice Ofgem requires all suppliers to give on energy efficiency. Better loft and cavity wall insulation can save another £100 off a typical energy bill.
The research published today by Ofgem is part of its role in constantly monitoring the energy markets to ensure there are no barriers to effective competition and that prices are the result of market forces and are not being inflated by anti-competitive practice.
* The three regions in which the incumbent supplier has less than 50% are: Midlands (npower), Northern (npower) and Norweb (Powergen).
Ends
Notes to editors
1. State of competition
Ofgem today published a Domestic Retail Market Report on the state of domestic competition in the gas and electricity markets on its website. The report gives details of the market share of the companies in each market as well as information on the prices offered by firms in September 2005 (the savings figures in the press release relate to current prices). It shows that while competition in most areas of Britain is strong, in Scotland competition is less dynamic with Scottish Hydro only losing 20 per cent of its market share. This reflects the fact that until April last year Scotland did not have a competitive wholesale market for electricity and it also lacks an extensive gas network.
Ofgem has also published today a survey on customers' experiences of the competitive market in the appendices to the Domestic Retail Market Report. Copies of the reports are available from the Ofgem website www.ofgem.gov.uk.
2. Changing supplier
There is no need to contact a salesman to change energy supplier. Just add up how much a year you use for gas and electricity and then phone Energylinx on 0845 225 2840 or visit their free impartial at www.energylinx.co.uk for approved online price comparison services. Research shows that 50 per cent of all gas and electricity customers have already switched supplier at least once. Those that have not already switched are likely to benefit most from changing suppliers.
3. Energy efficiency/changing how you pay for bills
Customers can make further savings by changing the way they pay bills. For example, paying by direct debit instead of standard credit will save about £30-35 a year. Making homes more energy efficient can also save people money: cavity wall insulation, for example, can bring savings of between £50-100 a year.
Ofgem advises all customers to contact their energy supplier, as it requires that suppliers offer energy efficiency advice and schemes for customers. Over 10 million households have benefited from energy saving measures delivered by suppliers through the government's Energy Efficiency Commitment, which is administered by Ofgem. Advice on how to save energy in the home is also available on the Energy Saving Trust website www.est.org.uk and from energywatch.
4. Ofgem is the Office of the Gas and Electricity Markets, which supports the Gas and Electricity Markets Authority, the regulator of the gas and electricity industries in Great Britain. Ofgem's aim is to bring choice and value to all gas and electricity customers by promoting competition and regulating monopolies. The Authority's powers are provided for under the Gas Act 1986, the Electricity Act 1989 and the Utilities Act 2000.
Domestic customers can either carry out a search for free using the most comprehensive energy calculators available in the UK by logging onto any of the following links or call Energylinx on 0800 849 7077 for a personalised quote. Energylinx will then send you a detailed domestic energy quote.
Energylinx are currently the only energy price comparison service, accredited by energywatch, that actually allow you to view and transfer to every single tariff available to your home.
These Energylinx calculators are unique in that they allow you to compare the prices of all energy suppliers.
Energylinx will arrange the whole transfer process for you, including notifying your existing supplier of any planned change and tracking the transfer to ensure that it occurs on time and accurately. Energylinx provides its services completely free of charge to the domestic consumer.
Posted by energylinx at 04:41 PM Technorati: Energy Prices
Zest4 Energy customers being transferred to British Gas
With immediate affect all existing energy customers of Zest4 are being transferred to British Gas.
On the afternoon of 3rd February Zest4 advised OFGEM that it was no longer able to meet its debts and that the court had made an administration order under section 8 of the Insolvency Act 1986.
AS a result OFGEM has appointed British Gas Trading as the supplier of last resort (SoLR) for all existing energy customers of Zest4.
Zest4 had initially advised OFGEM on the 24th January that it was seeking a sale of its customer portfolio but negotiations failed and as result David Rubin and Partners have now confirmed that the trade sale will no longer follow.
Existing Zest4 customers will receive notification in the near future advising them of this change which will affect them from 0000 on the 4th January 2006.
Energylinx would encourage all electricity customers of Zest4 affected by this change to immediately carry out a free energy price comparison to check that they are being offered a competitive deal. Under the terms of the SoLR Zest4 customers will be automatically transferred to the standard British Gas electricity tariffs, these should not be confused with the range of discounted tariffs offered by British Gas.
It is therefore likely that Zest4 customers who do nothing will see increases as much as 15.56% overnight.
Domestic customers can either carry out a search for free using the most comprehensive energy calculators available in the UK by logging onto any of the following links or call Energylinx on 0800 849 7077 for a personalised quote. Energylinx will then send you a detailed domestic energy quote.
Energylinx are currently the only energy price comparison service, accredited by energywatch, that actually allow you to view and transfer to every single tariff available to your home.
These Energylinx calculators are unique in that they allow you to compare the prices of all energy suppliers.
Energylinx will arrange the whole transfer process for you, including notifying your existing supplier of any planned change and tracking the transfer to ensure that it occurs on time and accurately. Energylinx provides its services completely free of charge to the domestic consumer.
Posted by energylinx at 06:30 AM Technorati: Energy Prices
February 02, 2006
Basic Power energy customers transferred to London Energy
As of the 17th January, all of Basic Power's domestic and business energy customers have been transferred to London Energy.
Basic Power one of the smaller competitive electricity suppliers were trading using Utility Link's Supply Licence and as a result of Utility Link going into administration all of their customers have been transferred to London Energy.
Utility Link had acted as the licensed electricity supplier providing the necessary back-office support services to other companies such as Basic Power. At one time Utility Link also acted on behalf of Telecom Plus, providing outsourced services in buying wholesale power, registering customers, managing the settling of power on the network as well as regulatory activities.
Utility Link had a portfolio of around 3,800 business customers and 7,500 domestic customers.
Basic Power customers transferring to London Energy will shortly receive correspondence to explain the terms of their supply and to ensure that they are fully aware what has happened. These arrangements will ensure that Basic Power's customers will continue to be supplied without interruption.
During this winter we have seen other energy retailers such as Eledor, Team Group, Reepham and Utilita all effectively fail. The reason for their failure is simple, wholesale energy prices. Over the last eighteen months wholesale energy prices have increased dramatically, especially so in the last three.
When wholesale prices increase rapidly, energy prices (tariffs) lag behind and a supplier may make a loss. For small new suppliers such as the above, there is no option, but to try to pass on wholesale costs. Yet this has not been possible, as wholesale prices, such as those in gas, increased very quickly in the short term from 30-40p per therm to over 100p per therm. As a result cash-flow is impacted and the supplier fails.
Energylinx are hopeful that there will now be some stability amongst the actual suppliers but would recommend that anyone affected by these recent market changes spend two or three minutes and carried out an free energy comparison using one of Energylinx 100% impartial tariff comparison services.
Domestic customers can either carry out a search for free using the most comprehensive energy calculators available in the UK by logging onto any of the following links or call Energylinx on 0800 849 7077 for a personalised quote. Energylinx will then send you a detailed domestic energy quote.
Energylinx are currently the only energy price comparison service, accredited by energywatch, that actually allow you to view and transfer to every single tariff available to your home.
These Energylinx calculators are unique in that they allow you to compare the prices of all energy suppliers.
Energylinx will arrange the whole transfer process for you, including notifying your existing supplier of any planned change and tracking the transfer to ensure that it occurs on time and accurately. Energylinx provides its services completely free of charge to the domestic consumer.
Posted by energylinx at 02:13 PM Technorati: Energy Prices
