Best of the Week
Most Popular
1. Gold Final Warning: Here Are the Stunning Implications of Plunging Gold Price - P_Radomski_CFA
2.Fed Balance Sheet QE4EVER - Stock Market Trend Forecast Analysis - Nadeem_Walayat
3.UK House Prices, Immigration, and Population Growth Mega Trend Forecast - Part1 - Nadeem_Walayat
4.Gold and Silver Precious Metals Pot Pourri - Rambus_Chartology
5.The Exponential Stocks Bull Market - Nadeem_Walayat
6.Yield Curve Inversion and the Stock Market 2019 - Nadeem_Walayat
7.America's 30 Blocks of Holes - James_Quinn
8.US Presidential Cycle and Stock Market Trend 2019 - Nadeem_Walayat
9.Dear Stocks Bull Market: Happy 10 Year Anniversary! - Troy_Bombardia
10.Britain's Demographic Time Bomb Has Gone Off! - Nadeem_Walayat
Last 7 days
Stock Market Due for 9-10% Pull Back? - 25th April 19
Dow Transportation Stocks Sector Is Testing Resistance - 25th April 19
INSOMNIA i64 UK Best Games Festival Vlog of What it's Like to Attend - 2019 - 25th April 19
In Just 45 Mins., Learn to Spot New Opportunities in ANY Market for FREE! - 25th April 19
If This Pattern Holds True, the US Economy Could Face the Worst Stagnation in History - 25th April 19
8 Reasons Why Investment in Education Always Pays Off - 25th April 19
Want To Earn A Safe 5% In Fixed Income? Buy Preferred Stocks - 24th April 19
Can Gold Price Rise Without a Rate Cut?  - 24th April 19
Silver’s Next Big Move - 24th April 19
How Can a College Student Invest Wisely? - 24th April 19
Prepare For Unknown Stock Market Price Action As New Highs Are Reached - 23rd April 19
Silver Plays a Small but Vital Role in Every Portfolio - 23rd April 19
Forecasting 2020s : Two Recessions, Higher Taxes, and Japan-Like Flat Markets - 23rd April 19
Gold and Silver Give Traders Another Buying Opportunity - 23rd April 19
Stock Market Pause Should Extend - 21st April 19
Why Gold Has Been the Second Best Asset Class for the Last 20 Years - 21st April 19
Could Taxing the Rich Solve Income Inequality? - 21st April 19
Stock Market Euphoria Stunts Gold - 20th April 19
Is Political Partisanship Killing America? - 20th April 19
Trump - They Were All Lying - 20th April 19
The Global Economy Looks Disturbingly Like Japan Before Its “Lost Decade” - 19th April 19
Growing Bird of Paradise Strelitzia Plants, Pruning and Flower Guide Over 4 Years - 19th April 19
S&P 500’s Downward Reversal or Just Profit-Taking Action? - 18th April 19
US Stock Markets Setting Up For Increased Volatility - 18th April 19
Intel Corporation (INTC) Bullish Structure Favors More Upside - 18th April 19
Low New Zealand Inflation Rate Increases Chance of a Rate Cut - 18th April 19

Market Oracle FREE Newsletter

Top 10 AI Stocks Investing to Profit from the Machine Intelligence Mega-trend

Electricity Prices on the Rise

Personal_Finance / Electricity Jan 24, 2019 - 02:51 PM GMT

By: Dumitru_Midon

Personal_Finance Electricity is not really something any of us can do without. Whether you have a tariff or a prepaid meter the money soon seems to go, and the media is continually reminding us that prices are going up. Consumers are feeling badly let down by Ofgem, the industry regulators who put a cap in place to ensure that variable tariffs could only rise to a certain point, and then moved the cap higher leaving people feeling frustrated and angry.


Why Do Electricity Prices Keep Rising?

The price we pay for our electricity is directly linked to the price of gas. Whether you use gas or not is irrelevant, the price rises are linked, and there is nothing the industry is prepared to do about it. Only having a property that uses electricity will not save you any money on a tariff, so having gas as well is not something to worry about.

The rises in electricity costs have been blamed on the fact that this fuel is obtained by gas-powered generators in electricity stations. The gas price rise has been blamed on the fact that an unusually harsh winter depleted our stores and left us unable to produce more, as this is also dependent on the weather.

If we have another bad winter, the likelihood is that prices will increase again and if Ofgem moves the cap again, the whole thing becomes increasingly frustrating. The country is currently working on renewable energy sources, but despite this being bandied about for many years we are still not at a capacity that can support the country.



What Can We Do?

Well, the choices are somewhat limited as off-grid living is not really a thing for most people. We can install things like solar panels and wind turbines but as yet the technology is not widespread or affordable, and even those with solar panels use the grid.

In the meantime, switching provider is potentially the best way to save money. There are lots of comparison sites on the internet that do the leg work for you and save you having to trawl providers and get quotes. As Jason Smith, Operations Manager of Business Electricity Prices explains: ‘Using our online comparison tool can help you to establish whether you are paying too much and show you the options that are available to you.’

Once you have got your best deal, you will be in a stronger place to tackle your current provider to see if they will match the deal or whether you serve them notice and leave.

Generally, you need to be on a fixed rate tariff as this protects you against any future increases for the term of the contract, and suppliers will often not advertise these but try and get customers onto a variable tariff by leaving vital information out. Be sure to challenge your existing supplier about their fixed tariffs but do not be afraid to use the comparison sites to make the switch to a better rate if that is possible.

By Dumitru Midon

© 2019 Copyright Dumitru Midon - All Rights Reserved

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules