Posts Tagged ‘gas contract’

Why are energy prices increasing when wholesale cost isn’t?

Thursday, September 7th, 2017

Energy price increases like to be sensationalised by the press. They usually cite the fact that wholesale prices have dropped as proof of profiteering.

Don’t get me wrong I am not one to back the energy suppliers and their price increases. However, there are other circumstances to take into account apart from their desire to increase profits.

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Brexit and Your Energy Bills

Tuesday, July 12th, 2016

It is fair to say that following the EU referendum just about everything has been in turmoil, and energy prices, which are so often volatile, have not escaped this uncertainty.

In fact following the country’s decision to Brexit our energy prices are nearing a nine-month high as various doom-laden scenarios are mooted. The fact that there was a uneasiness about future supply long before we Brexited has only added to the woe and to an increase in prices.

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Secure your low energy prices whilst you can

Tuesday, February 23rd, 2016

 

With energy prices at their lowest for a number of years now is the time to act and secure savings before expected increases come through later in the year.

The energy “price cut” headlines have been doing the rounds for the past few weeks. However, these current reductions do not herald the start of long term lower prices, they are merely a blip before the uncertainty of future supply and proposed new supply and distribution charges will push prices up once again.

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What is P272?

Tuesday, June 9th, 2015

The intriguingly named P272 is a piece of regulation that was introduced by OFGEM in October 2014 that is due to come into force in April 2016. It relates to those businesses who have what are called maximum demand meters with an automatic meter reading meter (Smart meter) fitted.

The regulation states that from April 2016 these supplies must be settled on the same basis that Half Hourly meters are using actual Half Hourly (HH) consumption data. This means settlement using an industry wide forecast to allocate electricity volumes to each suppler.

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Avoiding objections when switching energy supplies

Monday, March 2nd, 2015

The procedure when you change supplier for your electricity or gas, is that the new supplier will send a “transfer request” to the old supplier a short while before the date when the supply is to move across.

The old supplier should then just release the supply. Occasionally, however, they block the transfer, using a procedure that is called an Objection. No reason is given, and the new supplier is just told that they cannot take over the supply.

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Energy Contract Rollover – It Could Well Be You!

Monday, February 23rd, 2015

“98% of businesses do not know when their gas or electricity contracts renew. Failure to act could end up in your prices tripling!”

This frightening statistic reflects two things – (1) businesses pay little attention to their energy supplies, and (2) energy suppliers do not miss a trick if someone does not pay attention!

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5 Ways to Control Your Energy Costs

Wednesday, February 11th, 2015

Despite token price reductions by the “Big 6” recently the energy market remains volatile and prices can increase at any time. As such it is important to manage your energy supplies well, here are five things you can do to maintain control.

  • Know your contracts.

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Reduced energy prices – how much will you actually gain?

Monday, January 12th, 2015

With the widely reported reduction in wholesale energy prices and the clamour to get the suppliers to reflect these reductions in their prices, just what benefit will you gain from this?

Not all of what you pay in your energy bill is made up of the energy you use, in fact there are a number of charges that make up your final bill. So what do your energy costs consist of?

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More haste less spend

Monday, December 15th, 2014

What is the decision making process in your business? Do you like to think that you can react quickly and agree a course of action? We all like to think so, but what happens if you are busy in other aspects of your business? Do you stop and prioritise which issues you need to resolve first?

The renewal of your energy contract is time sensitive in many ways. The most obvious action that requires timing within your renewal process is in making sure you issue your termination notice at the right time. If you fail to terminate then you lose the ability to change supplier and potentially the chance to access the best deals for your circumstances. There is a cost to you in missing this action.

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Dealing with energy supplier objections

Thursday, December 11th, 2014

One of the main reasons why businesses struggle to switch their energy business or have failed to in the past is due to the objections raised by their incumbent supplier that prevents the switch from going ahead. Sometimes these objections lead to the switch not occurring as to do so becomes “more trouble than it is worth”.

Even though the raising of such objections can be seen as a purposeful obstruction by the incumbent it primarily comes down to three reasons – there is an amount outstanding on your account that needs to be paid before the switch can happen, you have failed to give the correct termination for your contract, or your new supplier has applied for the transfer on the wrong date.

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